Description

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Take the next step in learning more about conducting business valuations so you can enhance your skills and build your practice in this area. Zero in on the mechanics of different valuation approaches and methods to consider when performing a business valuation assignment.

Who Should Attend?

Anyone who might perform a business valuation assignment or review a business valuation report

Course Objectives

• Understand various approaches and methods used for business valuations
• Understand how to use resources and data to support business valuations

Subjects

8:00-9:45 a.m. - Business Valuation MythBusters - James Hitchner, CPA/ABV/CFF, Financial Valuation Advisors, Inc.
Based on his popular “Hardball with Hitchner” series, national expert Jim Hitchner  debunks 14 common myths in business valuation in this engaging session. Explore various myths such as the misconception that the IRS only accepts USPAP in tax-related valuations, the reliability of restricted stock studies for determining discounts for lack of marketability (DLOM), and the inclusion of synergies in fair market value. Learn valuable insights and clarify misconceptions that can impact your valuation practices. 

10:00-10:50 a.m. - Valuation of Interests in Tiered Entities - William Harris, ASA, CFA, Trugman Valuation Associates, Inc. 
Delve into the complexities of valuing minority interests in asset-holding entities, particularly focusing on the application of tiered discounts. Explore the challenges valuation analysts face when dealing with partnership structures that involve noncontrolling interests across multiple tiers. Find out whether discounts for lack of control and marketability are appropriate at each tier and how these discounts can affect overall valuations. Examine relevant case law and fundamental valuation principles to gain a comprehensive understanding of the strengths and weaknesses of various valuation approaches.

11:05-11:55 a.m.- Using Regression Analysis in Business Valuation - William Harris, ASA, CFA, Trugman Valuation Associates, Inc. 
Valuation analysts often examine how one or more variables explain the behavior of another variable such as revenues or trends in market multiples. You’re also tasked with analyzing trends in data to forecast future results. Linear regression models can be useful tools in analyzing relationships between economic and financial variables over time. Learn to apply these models to support assumptions in business valuation, while understanding their limitations.

12:40-1:55 p.m. - Elections Have Consequences: The U.S. Economy in 2025 - King Banaian, St. Cloud State University
The American economy grew moderately in 2024, avoiding the expected 2023 recession. Concerns like commercial real estate had minimal impact on consumption and investment. The November 2024 elections will change the business landscape and clarify select business uncertainties. Dr. Banaian will analyze what has become clearer and what remains uncertain.

2:10-3:25 p.m. - What Happens in a Quality of Earnings Analysis? - Clayton Brownlee, CPA, Boulay & Ryan Turbes, CPA, Boulay
In today’s increasingly efficient marketplace, buyers and sellers aim to avoid deal valuation “retrading”, minimize diligence surprises and close chosen deals quickly. Financial due diligence, which is synonymous with Quality of Earnings, provides users with a consistent, thorough and independent analysis of historical performance, and business and financial risks. Walk away with an understanding of company background, economics, accounting policy, and potential effects of technical GAAP accounting matters.

3:40-4:30 p.m. - Court Case Update - Richard Berning, CPA/ABV, CBA, CVA, ABAR, CFF, CMA, ValuationUSA
With the end of 2024, it’s time for an annual review of court cases that have impacted the business valuation and litigation support professions. Dig into cases on a wide range of topics, including shareholder disputes, family law, trust disputes, lost profits and tax issues. Gain insight into what the courts look for and discuss recent significant court decisions.

Prerequisites

None