Upcoming Webinar

VPS Straight Talk Series

November 15, 2018

“New” Best Practices
The Income Approach

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In 2017 Jim Hitchner presented a new series titled “Best Practices: Business Valuation Methods.” What a difference a year makes. In this webinar, Jim will present “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 will cover what you need to know in relation to the income approach, including changes analysts will need to make as a result of the TCJA.

Presenter:

Jim Hitchner, CPA/ABV/CFF, ASA
Managing Director, Financial Valuation Advisors
CEO, Valuation Products and Services
President, The Financial Consulting Group
Coauthor, Hitchner Pratt Fishman, A Consensus View Q&A Guide to Financial Valuations
Coauthor, Discount for Lack of Marketability Guide and Toolkit
Coauthor, Financial Valuation Applications and Models, 4th edition
Coauthor, PPC’s Guide to Business Valuations, 28th edition
Former member of the AICPA BV Standards Writing Task Force
Inductee in the AICPA BV Hall of Fame

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

Handouts:

  • VPS webinar PowerPoint slides
  • Related articles
  • Following the webinar, attendees will receive an interactive video of the webinar showing the audio synced to the slide presentation in real time

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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.