Note New Date:
Tuesday, June 9, 2020
COVID-19 and Business Valuation
What to Do NOW! PART 2
Valuing Small, Medium, and Large-Size Businesses
“This was one of the best and most important valuation training webinars that we could possibly have at this time. Please continue with this subject.”
– COVID-19 and BV webinar Part 1 participant
Part 2 of our COVID-19 Business Valuation Webinar series will focus on a detailed case study that values a business as of March 31, 2020, with COVID-19 “known or knowable.”
This case study includes the capitalized cash flow (CCF) method, the discounted cash flow (DCF) method, the cost of capital, the guideline company transactions method (GCTM), and the guideline public company method (GPCM). We won’t just TELL you what to do, we will SHOW you what to do. It’s time for action, and we will deliver.
PRESENTER: 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, 30th edition
- Former member of the AICPA BV Standards Writing Task Force
- Inductee in the AICPA BV Hall of Fame
Learning Objectives:
- The participant will learn about the following:
- Given the pandemic, which valuation methods are the most reliable
- The use of probabilistic/scenario analyses in the DCF and CCF
- How to normalize income in years 2020, 2021, 2022, and the terminal year of a DCF model
- How to apply the CCF model with “bolt-ons”
- How to put a value on the CARES Act stimulus?
- How should actual company results for 2019 impact value estimates at March 31, 2020?
- How the discount rate has changed and why
- How to support interim and long-term growth rates
- What to do if there are no projections
- Various adjustments to make the guideline company transactions method valid
- Pre-COVID transactions
- Post COVID transactions
- Adjusted and unadjusted earnings
- How to select guideline public companies and calculate the proper valuation multiples
- Pre-COVID multiples
- Post COVID multiples
- Adjusted and unadjusted earnings
- How to reconcile the values
Handouts:
- VPS Webinar PowerPoint slides
- Articles
- Publication citations
- Following the webinar, attendees will receive an interactive video of the webinar showing the audio synced to the slide presentation in real time
With our simple flat pricing plan, your entire office can join us for this 100-minute presentation, earn two hours of CPE credit (Specialized Knowledge) and receive an archive recording for $239.
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.