William A. Johnston, ASA

William A. Johnston, ASA, IA/BV
Office Managing Partner - NYC
Managing Director
212.714.0122 │ E-mail
Office: New York

Bill is a Managing Director of Empire Valuation Consultants, where he has worked since 1994. He is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers, and one of the first recipients of the American Society of Appraiser's intangible asset designation.

Bill has over 20 years of experience in business and intangible asset valuations. He has managed and prepared numerous valuations for financial reporting purposes, including purchase price allocation, goodwill impairment testing, cheap stock and Stock Compensation (ASC 718) and 409A.

He has valued the equity, debt, options/warrants and carried interests of publicly and privately held businesses for financial reporting, acquisitions, stock repurchases, lending, estate and gift tax reporting, re-capitalizations, litigation, fairness opinions and general corporate planning purposes. He also has a significant amount of experience valuing technology companies, hedge and private equity funds and early-stage businesses.

Bill has served as a guest lecturer at Fordham University, speaking on the topic of intangible asset valuation. He teaches the BV301 and BV302 intangible asset valuation classes for the American Society of Appraisers. In addition, he has spoken at ASA events on various valuation topics. He is a member of the Appraisal Issues Task Force (AITF) and is the chairperson for Empire's Technical and Standards Committee.

Bill has served as an expert witness on business valuation matters in New York State Supreme (Civil) Court, and has experience valuing foreign companies in Canada, Bermuda, Europe and Asia.



  • M.B.A. in Finance - New York University Stern School of Business
  • B.S. in Finance and International Business - Pennsylvania State University


  • American Society of Appraisers
    • Business Valuation Committee - Chairperson
    • New York City Chapter - Past President
    • First National Conference Co-Sponsored by the ASA,
      "Covering Financial Reporting Valuations" - Chairperson



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