2020-149: Valuing Small Businesses During COVID-19
**Webinar 149: Live Broadcast Date: Wednesday, December 2, 2020**
Archive video of VPS StraightTalk Webinar Series: Valuing Small Businesses During COVID-19
Speaker: Gregory R. Caruso, JD, CPA, CVA
COVID-19’s effects on the economy has magnified risk and uncertainty for small business – making the job of valuators more difficult. This webinar will focus on valuing these businesses in the times of COVID-19. Presenter Greg Caruso will dive into problematic areas of actual small business valuation cases to review theory and tie it into the actual application of methods using best practices and professional judgment. This program will emphasize practical approaches. Questions from the audience are encouraged.
The participant will learn about the following:
- Distinguishing differing risk factors between large companies and micro and very small companies
- Collection of qualitative data such as internal soft data (processes, management, etc.) and external soft data (economy, industry, etc.) and the application of findings to valuation cash flows and risk adjustments
- Developing and selecting a cash flow in the market and income methods, including add-backs and adjustments, weighting, support documentation, and tax affecting for the income method
- Selecting a multiplier in the market method and developing a capitalization rate for the income method as it pertains to micro and small businesses
- Estimating and applying a marketability discount for a control interest for periods of high uncertainty
- Reviewing a projection to determine suitability as a forecast and applying that projection to future cash flow estimates
- Integrating the balance sheet (or lack of balance sheet) into micro and small business valuations, considering estimating working capital and excess current assets, included and excluded assets and the effect on value found, and going concern issues in capital intensive industries
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