Archive 2018-125: New Best Practices – The Income Approach

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Archive 2018-125: “New Best Practices” – the Income Approach

**Webinar 125: Live Broadcast Date: November 15, 2018**

Speaker:  Jim Hitchner, CPA/ABV/CFF, ASA 

In 2017 Jim Hitchner presented a new series titled “Best Practices: Business Valuation Methods.” What a difference a year makes. In this webinar, Jim presents “new” best practices based on new ways of thinking about risk analysis, alternative cost of capital data, new sources of long-term growth rates, exit multiples, and more. He covers what you need to know in relation to the income approach, including changes analysts will need to make as a result of the TCJA.

Webinar Outline – NEW Best Practices includes

  • The effect of the Tax Cuts and Jobs Act on the income approach
  • Alternative cost of equity capital data
  • Supporting your WACC
  • New sources of long-term growth rates
  • A new look at risk analysis and adjustments
  • What to do with undistributed cash
  • The correct mid-year convention application for the CCF method
  • Normalization adjustments
  • A new look at weighting historical earnings
  • A fresh look at minority vs. control cash flows
  • Direct to equity vs. invested capital applications
  • Depreciation, capital expenditures, and working capital assumptions
  • Normalizing debt
  • Sensitivity analyses and sanity checks
  • A new look at exit multiples in a DCF model

Learning Objectives:

The participant will learn:

  • How to apply new best practices in the CCF and DCF methods.
  • How to better defend your cost of capital calculations.

Please review our information on CPE credits, refund policies, and complaint resolution at www.valuationproducts.com/cpe It is the responsibility of CPA attendees to determine the CPE policies of their respective state boards of accountancy. (Note that archived webinars do not qualify for CPE credit.)

This downloadable archived webinar package is an interactive video of the webinar with the original webinar handouts.

The format of the archived webinar package is an Adobe Presenter PDF file that allows you to view the video of the webinar with the synced audio so that you see the presentation just as it was presented “live.” The Presenter format also allows for easy navigation through the webinar so you can quickly go to a specific section in the presentation. The handout materials are included in the file. To view the Webinar Presenter file, you must have the current version of Adobe Reader. You can download the free Adobe Reader at http://get.adobe.com/reader. Please save the file to your hard drive or server. This is a very large file so please allow sufficient time for the download to complete. You will also need to have the current version of Adobe Flash enabled on your computer. The file may not display in your browser window, (you may see a blank image) so be sure to download the file first and then open it on your computer using Adobe Reader.

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