Best Practices in Business Valuation (Friday)

Discounts and Premiums, including Discounts for Lack of Marketability

Friday, June 25, 2021 10:45 a.m. - 12:25 p.m. ET

All Track One sessions are part of the three-day course Best Practices in Business Valuation—A Practical Approach to Advanced Issues and Applications, which covers the latest developments in the valuation profession in a straightforward manner and with an emphasis on practical application. While other attendees may be participating in the course only—as a conference attendee, you can choose what sessions to attend from any track at any time.

  • Are you tired of esoteric concepts and applications that few use and even fewer understand?
  • Are you tired of answers like, “When you look at it this way the answer is this, but if you look at it that way the answer is that?”
  • Do you scream when a presenter says “It depends” when asked a question, even a basic one?

The bottom line is that, while the valuation profession has come a long way, we still cannot come together and agree on many-and we mean many-valuation issues. 

The sessions in Track One will make you feel more comfortable that you know how to understand and apply valuation techniques in the most supportable way. It takes you through advanced issues and applications that you can use right away. Key issues relating to the income approach, capitalized cash flow method, and discounted cash flow method will be discussed.

After completing this session, attendees will be able to:

  • Apply the various Valuation Products and Services (VPS) DLOM option calculators and other models and templates, including: VPS Restricted Stock Study Quintile Calculator, Black Scholes/Chaffe Calculator, Finnerty Calculator, Ghaidarov Calculators, Longstaff Calculator, QMDM Template, Quantitative Methods Comparison Template, Illiquidity Premium Calculator, and C Corporation Equivalent Dividend Yield Calculator
  • Differentiate among the most well-known restricted stock and pre-IPO databases, including: FMV Opinions, Pluris, and Valuation Advisors
  • Analyze the various option pricing models, including: Black-Scholes/Chaffe, Longstaff, Finnerty, and Ghairdarov
  • Evaluate various analytical methods, including: Wruck; Hertzel and Smith; Bajaj; Abbott; Ghairdarov; Katsanis; LEAPS; NERA CAPM and Mandelbaum-type analyses
  • Assess the IRS DLOM Job Aid

Total CPE: 2
Fields of Study: Accounting: 1, Finance: 1
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

This session is for everyone, whether a first-year analyst or a seasoned BV veteran.

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

None


Discounts and Premiums, including Lack of Control and Control Premiums

Friday, June 25, 2021 12:40 p.m. - 2:20 p.m. ET

All Track One sessions are part of the three-day course Best Practices in Business Valuation—A Practical Approach to Advanced Issues and Applications, which covers the latest developments in the valuation profession in a straightforward manner and with an emphasis on practical application. While other attendees may be participating in the course only—as a conference attendee, you can choose what sessions to attend from any track at any time.

  • Are you tired of esoteric concepts and applications that few use and even fewer understand?
  • Are you tired of answers like, “When you look at it this way the answer is this, but if you look at it that way the answer is that?”
  • Do you scream when a presenter says “It depends” when asked a question, even a basic one?

The bottom line is that, while the valuation profession has come a long way, we still cannot come together and agree on many-and we mean many-valuation issues. 

The sessions in Track One will make you feel more comfortable that you know how to understand and apply valuation techniques in the most supportable way. It takes you through advanced issues and applications that you can use right away. Key issues relating to the income approach, capitalized cash flow method, and discounted cash flow method will be discussed.

After completing this session, attendees will be able to:

  • Determine the use of control premiums and minority discounts
  • Explain the math and concepts behind control premium/minority discount data

Total CPE: 2
Fields of Study: Accounting: 1, Finance: 1
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

This session is for everyone, whether a first-year analyst or a seasoned BV veteran.

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

None


Business Valuation Standards

Friday, June 25, 2021 3:00 p.m. - 4:40 p.m. ET

All Track One sessions are part of the three-day course Best Practices in Business Valuation—A Practical Approach to Advanced Issues and Applications which covers the latest developments in the valuation profession in a straightforward manner and with an emphasis on practical application. While other attendees may be participating in the course only—as a conference attendee, you can choose what sessions to attend from any track at any time.

  • Are you tired of esoteric concepts and applications that few use and even fewer understand?
  • Are you tired of answers like, “When you look at it this way the answer is this, but if you look at it that way the answer is that?”
  • Do you scream when a presenter says “It depends” when asked a question, even a basic one?

The bottom line is that, while the valuation profession has come a long way, we still can’t come together and agree on many-and we mean many-valuation issues. 

The sessions in Track One will make you feel more comfortable that you know how to understand and apply valuation techniques in the most supportable way. It takes you through advanced issues and applications that you can use right away. Key issues relating to the income approach, capitalized cash flow method and discounted cash flow method will be discussed.

After completing this course, attendees will be able to:

  • Apply business valuation standards, along with the use of calculations, which includes two up-to-date sample calculation reports

Total CPE: 2
Fields of Study: Regulatory Ethics: 2
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

This session is for everyone, whether a first-year analyst or a seasoned BV veteran.

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

None


Case Study and Sample Report

Friday, June 25, 2021 4:55 p.m. - 5:45 p.m. ET

All Track One sessions are part of the three-day course Best Practices in Business Valuation—A Practical Approach to Advanced Issues and Applications, which covers the latest developments in the valuation profession in a straightforward manner and with an emphasis on practical application. While other attendees may be participating in the course only—as a conference attendee, you can choose what sessions to attend from any track at any time.

  • Are you tired of esoteric concepts and applications that few use and even fewer understand?
  • Are you tired of answers like, “When you look at it this way the answer is this, but if you look at it that way the answer is that?”
  • Do you scream when a presenter says “It depends” when asked a question, even a basic one?

The bottom line is that, while the valuation profession has come a long way, we still cannot come together and agree on many-and we mean many-valuation issues. 

The sessions in Track One will make you feel more comfortable that you know how to understand and apply valuation techniques in the most supportable way. It takes you through advanced issues and applications that you can use right away. Key issues relating to the income approach, capitalized cash flow method, and discounted cash flow method will be discussed.

After completing this session, attendees will be able to:

  • Associate case studies and sample reports to best practices
  • Demonstrate report writing tips
  • Differentiate the valuation methods and reconciliation

Total CPE: 2
Fields of Study: Accounting: 1, Finance: 1
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

This session is for everyone, whether a first-year analyst or a seasoned BV veteran.

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

None