MARSHALL S TEVENS
Alfred M. King, CMA PRESENT POSITION Alfred M. King, CMA currently serves as Vice Chairman and Senior Technical Director for the National Financial Valuation and Consulting Practice of Marshall & Stevens Incorporated. EXPERIENCE Mr. King's areas of expertise include: valuation of intangible/intellectual assets and business enterprises, solvency, reasonable equivalent value issues, domestic and international taxes related valuations, retrospective valuation studies and valuations for financial reporting including complex purchase price allocation assignments. In his career, to date, he has personally valued over $100 Billion of assets. Mr. King regularly serves in a litigation support role in jurisdictions across the United States. Mr. King has served on committees for and/or as a consultant to the Securities and Exchange Commission (SEC), Institute of Management Accounting and Financial Accounting Standards Board (FASB) on the topic of fair value including the development of SFAS 141, 142, 141R, 157 and the convergence of US GAAP with IFRS. He is a frequent speaker for and has served on the board of professional organizations such as the Financial Executives International. EMPLOYMENT One of the early and most respected professionals in the field of financial valuation, Mr. King’s professional experience includes serving as Chairman and as Chief Financial Officer of Valuation Research Corporation, Chief Financial Officer of American Appraisal Associates and as a financial valuation specialist for both firms. While with American Appraisal Associates, Mr. King was involved in the company’s acquisitions, divestitures, and financings including the initial public offering of its stock. In 1981, Mr. King accepted the position of Managing Director with the Institute of Management Accountants (formerly known as the National Association of Accountants). At the Institute of Management Accountants, Mr. King was responsible for the association's professional activities, including education and research, and for its monthly magazine, Strategic Finance. After receiving his bachelor's degree, Mr. King worked in the Cash Management and Trust Investment departments at Northern Trust Co. in Chicago. He joined General Motors Corporation's Electro-Motive Division in 1959, assuming responsibility for cost accounting, standard costs, and budgeting. He left GM to work for two subsidiaries of Tenneco Inc., Walker Mfg. Co. and J.I. Case, for whom he was Assistant Corporate Controller in charge of international and manufacturing accounting, including budgeting, financial reporting, and financial analysis.
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EDUCATION A native of Boston, Mr. King graduated magna cum laude in Economics from Harvard College in 1954. In 1959, he earned an MBA in Finance from Harvard Business School. COURT TESTIMONY and LITIGATION SUPPORT Mr. King has been admitted as an expert witness in cases involving damages, opinions of solvency, business enterprise valuation and partial interest analyses, and the valuation of intangible assets. Engagements have been defended before the Internal Revenue Service and before various Federal and State Courts as well as arbitration panels under Federal Guidelines. A detailed listing of his experience is available upon request. BIBLIOGRAPHY Mr. King has authored five books on the topic of valuation and chapters for five other books. He has authored over 100 articles for professional journals. PROFESSIONAL AFFILIATIONS Still active in the Institute of Management Accountants, Mr. King is also a member of the Financial Executives International. He is listed in the current edition of Who's Who in America and Whoâ€™s Who in Finance and Industry.
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