Upcoming Webinar

VPS Straight Talk Series

February 25, 2020 

Hardball with Hitchner, Fishman, and Gallagher

They Tackle the Tough Issues

Jim Hitchner and his panel of experts will answer your questions on business valuation, including cost of capital, DLOMs, S corps, transaction databases, and reports. They will give straightforward answers to your most complex questions. If you need an answer, they’ve got it.

Purchase

Moderator – Jim Hitchner, CPA/ABV/CFF, ASA

  • Managing Director, Financial Valuation Advisors
  • CEO, Valuation Products and Services
  • President, The Financial Consulting Group
  • Coauthor, Discount for Lack of Marketability Guide and Toolkit
  • Coauthor, Hitchner Pratt Fishman: A Consensus View,
  • Q&A Guide to Financial Valuation
  • Coauthor, Financial Valuation Applications and Models, fourth edition
  • Coauthor, PPC’s Guide to Business Valuations
  • Former member of the AICPA BV Standards Writing Task Force
  • Inductee in the AICPA BV Hall of Fame

Jay E. Fishman, FASA

  • Managing Director, Financial Research Associates
  • Past Chair, American Society of Appraisers’ Business Valuation Committee
  • Former Chair Appraisal Foundation Appraisal Practices Board
  • Former Chair, ASA Governmental Relations Committee
  • Coauthor, Standards of Value: Theory and Applications, 2nd edition
  • Coauthor, PPC’s Guide to Business Valuations
  • Coauthor, Financial Valuation Applications and Models, fourth edition 

Michelle F. Gallagher, CPA/ABV/CFF

  • Strategic Partner, Adamy Valuation
  • Former Chair of the AICPA ABV Credential Committee
  • Former Chair of the AICPA ABV Exam Task Force
  • Planning Committee for past AICPA/AAML Divorce Conferences
  • Co-Chair of the BVR/AAML 2020 Divorce Conference
  • Received the 2017 AICPA Business Valuation Volunteer of the Year Award
  • Received the 2008 AICPA FLS Volunteer of the Year Award
  • Received the 2012 MICPA Women to Watch Award
  • Contributing author, Michigan Family Law, seventh edition (2019)
  • Contributing author, Family Law Services Handbook: The Role of the Financial Expert (2011)

Learning Objectives:

In this interactive session, the participant will be able to ask tough questions and get direct answers from top experts in the field.  The participate will:

  • What three of the leaders in the valuation profession think are the proper and practical ways to prepare a valuation
  • How to wade through all the confusion in estimating cost of capital and capitalization rates
  • The proper application of discounts and premiums
  • What is going on in the S-corp valuation area
  • The best way to use transaction databases
  • How to prepare the right report for the right situation

Webinar Outline

The following topics will be discussed by the expert panel who will also take questions from attendees:

  • Cost of capital questions
    • Should I use D&P supply-side, historical, adjusted, unadjusted, conditional, or unconditional ERPs?
    • What’s the latest on the BVR Cost of Capital Professional
    • Does the addition of a size premium preclude the use of a DLOM?
    • Can I use CRSP size 10a, 10b, 10w, 10x, 10y, or 10z?
    • How do I use industry risk premiums?
  • Discounts for lack of marketability (DLOM) questions
    • Should I be using restricted stock databases such as Stout?
    • Can I still rely upon traditional restricted stock “benchmark” studies?
    • Should I be using pre-IPO data?
    • What is the best way to use the QMDM?
    • Should I be using option models in calculating a DLOM?
  • S Corp questions that will be answered
    • What is the current thinking in valuing S Corps?
    • How does the Kress and Jones court cases affect what we do?
  • Transaction databases questions that will be answered
    • What is the best way to use guideline company transactions from the various databases, particularly Pratt’s Stats?
    • Are these transaction databases reliable?
  • BV report questions that will be answered
    • When can I use calculation engagements and reports and summary reports?
    • How do I adhere to BV reporting standards (AICPA, ASA, IBA, NACVA, and USPAP)?
    • How do I cite references for definitions, concepts, and applications?

Handouts:

Participants will receive handout materials related to the topics discussed and a recording of the webinar.

Purchase

The VPS StraightTalk webinar series brings you outstanding continuing professional education on business valuation and litigation topics. Unless otherwise noted, all webinars are targeted at an intermediate program level, qualify for two hours of CPE credit, and begin at 1:00 p.m. ET. Pay one fee of $239 for everyone in your firm to participate. Unlimited employees from your firm will each receive 2 CPE credits for NO additional fee (applies to all employees at your firm who sign in per the webinar participant instructions.) More information on the VPS StraightTalk webinar series can be found here.

Jim Hitchner’s Valuation Products and Services (VPS) provides tools to assist practitioners in business valuation, litigation services, and forensics and fraud.

Valuation Products and Service, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.

The VPS StraightTalk webinar series brings you outstanding continuing professional education on business valuation and litigation topics. Unless otherwise noted, all webinars are targeted at an intermediate program level, qualify for two hours of CPE credit, and begin at 1:00 p.m. ET. Pay one fee of $239 for everyone in your firm to participate. Unlimited employees from your firm will each receive 2 CPE credits for NO additional fee (applies to all employees at your firm who sign in per the webinar participant instructions.) More information on the VPS StraightTalk webinar series can be found here.