Track 1

Regulatory Overview for Valuation Professionals

Tuesday, November 17, 2020 10:45 a.m. - 12:25 p.m. ET

Since the 2010 passage of the ACA, providers are facing increased regulatory scrutiny, much of which attention is focused on the strict prosecution of fraud and abuse violations, in part, as an avenue to help finance the ACA.  The sweeping nature of the ACA will continue to drive ongoing changes in the structure, operation, and financing of many healthcare provider enterprises, likely resulting in an even further increase in hospital/physician practice integration/transactional activities, as well as an increase in the number of U.S. physicians that are currently employed by hospitals. This Session will present an overview of the healthcare industry’s regulatory environment and will explore the framework through which the interplay between the various federal and state laws within the U.S. healthcare delivery system interact within the context of fraud and abuse regulation and enforcement; tax regulations; licensure and accreditation; competition laws; privacy laws; other federal regulations; and, the ACA.
 

After completing this session, attendees will be able to:

• Recognize tax regulations as they relate to tax-exempt healthcare organizations and their employees, as well as provider taxes, ad valorem taxes, and excise, sales, and use taxes, and how they impact the valuation of a healthcare organization
• Identify the healthcare fraud and abuse laws, including the Anti-Kickback Statute, the Stark Law, and the False Claims Act, as well as the regulatory bodies that enforce them
• Describe the thresholds of fair market value and commercial reasonableness


Total CPE: 2
Fields of Study: Business Law: 1, Regulatory Ethics: 1
Program Level: Basic - Learning activity level most beneficial to individuals new to a skill or an attribute.

Who Should Attend:

Legal professionals and healthcare providers, as well as those valuation professionals wishing to expand their scope of activities in healthcare valuation engagements and those seeking to enhance their current healthcare valuation service lines.

Prerequisites:

Previous training or experience with the fundamentals of accounting, finance, economics, and business writing. These individuals are often at the staff or entry level in organizations, although such programs may also benefit a seasoned professional with limited exposure to the area.

Advanced Preparation:

None

Jessica Bailey-Wheaton

Jessica  Bailey-Wheaton

Esq.

Read Biography

Todd Zigrang

Todd  Zigrang

Esq.

Read Biography

How the Subsequent Event Standards Impact Your Business Valuation in light of COVID-19

Tuesday, November 17, 2020 12:40 p.m. - 2:20 p.m. ET

Provide an understanding of how to apply the subsequent event standard to the COVID-19 Pandemic. Review of Known or Knowable.  What to information include and exclude in your business valuation. How to integrate factors resulting from COVID-19 into your business valuation.

After completing this session, attendees will be able to:

•    Identify factors pertaining to COVID-19 to include and consider to prepare a business valuation
•    Identify subsequent events which should be properly excluded from a business valuation date
•    Apply properly the subsequent event standard


Total CPE: 2
Fields of Study: Finance: 2
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

CPA, busness valuators, attorneys

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

None

Marc Bello

Marc  Bello

CPA/ABV, MST, CVA, MAFF

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Building Blocks to Prepare the Valuation Report

Tuesday, November 17, 2020 3:00 p.m. - 4:40 p.m. ET

In order to prepare a valuation report, the valuator must be able to understand and apply correctly the methodologies that are germane to the subject company and the reason for the business valuation. To that end, we will begin by reminiscing Revenue Ruling 59-60 and digesting what it relates even for us today. Then we will discuss and digest various methods utilized within the Asset, Income, and Market Approaches.

After attending this session attendees will be able to:

  • Identify critical thinking within each valuation approach
  • Discover possible new methodologies with which to utilize within an approach
  • Articulate a better valuation report once the work provided is better understood

Total CPE: 2
Fields of Study: Finance: 1, Statistics: 1
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

CPAs, Attorneys, Business Brokers, Practitioners

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

None

Ronald Rudich

Ronald  Rudich

CPA/ABV/CFF, MCBA, CVA/ABAR/MAFF, CM&AA,CMEA,

Read Biography

COVID-19 Issues Impacting the IRS

Tuesday, November 17, 2020 4:55 p.m. - 6:35 p.m. ET

In this session you will learn what steps to take to avoid an audit and what steps to take should your appraisal be audited by the IRS. You will know what to do regarding the top three audit areas by the IRS of business valuation appraisals. You can take action based on recommendations on how to work with the IRS. Knowing Congressional expectations, and morale at the IRS, you will be coached on how you should work with the IRS should your business valuation appraisal be audited. A best practice proactive example will be presented so that you too can learn from this example and take appropriate actions.

After completing this session, attendees will be able to:

  • Explain what the IRS is intending to do regarding business valuations in 2021
  • Explain what the implications of what the IRS can do in 2021
  • Prepare for their business valuation appraisal be audited
  • Recognize when to adjust their work based on recent court cases and IRS new polices
  • Employ constructive steps to work with the IRS

Total CPE: 2
Program Level: Update - Learning activity level that provides a general review of new developments.

Who Should Attend:

Business Valuers, CPAs, Accountants, Business Owners

Prerequisites:

Participants need a background in the subject area and desire to keep current.

Advanced Preparation:

None

Michael Gregory

Michael  Gregory

CVA, ASA, MBA

Read Biography

Managing Business Interruptions and Lost Profits Engagements

Wednesday, November 18, 2020 10:45 a.m. - 12:25 p.m. ET

This session covers the foundations and fundamentals of business income and extra expense damages information. It includes alternative approaches and methodologies, notable insurance policy sections, foundational evidence and research sources, and reporting guidelines and strategies embraced by the most effective business damages experts.

After completing this session attendees will be able to:

  • Recognize the differences between traditional lost profits and interruption claims
  • Explain the relevant time periods within an interruption claim
  • Implement interruption claims using the two common damage calculation methods

Total CPE: 2
Fields of Study: Accounting: 1, Economics: 1
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

Financial Experts, Accountants and Financial Professionals

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

None

Robert Carter

Robert  Carter

CPA, CVA

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Kerrie Merrifield

Kerrie  Merrifield

CPA, ABV, CFF, MAFF

Read Biography

Audit Evidence Versus Forensic Evidence

Wednesday, November 18, 2020 12:40 p.m. - 2:20 p.m. ET

In this session the presenter will discuss the following: 1) Comparisons of the Traditional Audit Model based on Management Assertions to the Forensic “Testimonial Model"; 2) Forensic Credentials—Fraud Related versus Litigation Support Related; 3) Similarities between an Audit Engagement versus a Forensic Engagement; and 4) Practice Tips for a successful forensic engagement and the management of forensic evidence

After completing this session, attendees will be able to:

• Utilize the tools and knowledge necessary to understand the nature, differences, and similarities of forensic evidence used during the litigation process and audit evidence normally gathered during a traditional audit engagement
• Evaluate court room etiquette and rules of evidence applicable to the testifying expert in support of an opinion proffered


Total CPE: 2
Fields of Study: Auditing: 1, Business Management and Organization: 1
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

CPAs, and valuation analysts interested in performing forensic engagements

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

None

Francisco Rosillo

Francisco  Rosillo

CPA, ABV, CBA, MAFF, ABAR, CFF, CVA, CFE

Read Biography

Normalizing Owner Compensation with RCReports Demonstration

Wednesday, November 18, 2020 3:00 p.m. - 4:40 p.m. ET

This session explains the accepted methodologies for normalizing owner compensation in business valuations. The cost, market and income approaches will be explained with examples. Demonstrations of RCReports software will show how to obtain compensation data for each approach. Practical tips and recommendations for improving efficiencies, documenting analyses, avoiding common mistakes will also be provided.

After completing this session, attendees will be able to:

• Apply the methodologies for normalizing compensation of business owners and their family members
• Assess when and where each approach should be used
• Collect comparability data from RCReports
• Debate conclusions on this important and sensitive adjustment
 


Total CPE: 2
Fields of Study: Accounting: 1, Computer Software and Applications: 1
Program Level: Update - Learning activity level that provides a general review of new developments.

Who Should Attend:

Valuators and other advisors at all levels of experience.

Prerequisites:

Participants need a background in the subject area and desire to keep current.

Advanced Preparation:

None


Fundamentals of Financing Modeling and Forecasting

Wednesday, November 18, 2020 4:55 p.m. - 6:35 p.m. ET

Financial modeling is simply a mathematical model developed to solve a specific financial or accounting problem. Financial forecasting applies mathematical modeling methods to provide alternative probable quantitative outcomes for a specific proforma (historic) or prospective financial decision.

Financial modeling applied to forecasting is a sequential processes dependent on the defined objectives, development of valid assumptions, assembling sufficient data, model formulation, implementation, and testing. The three fundamental forecasting models include Times Series analysis, Cause-and-Effect and Judgmental. Selecting the appropriate modeling method based on is based on the outcome objectives and assembled data.   A systematic approach to assembling and evaluating the data based on the design objectives and assumptions is critical. Initial perceptions and observations may require revision during the process to achieve the design objectives.

After completing this session attendees will be able to: 

  • Utilize financial modeling as an analytical tool to improve decision making
  • Describe the structured process of developing a financial model
  • Identify common errors occurring in financial models.
  • Recognize financial forecasting as a measure of the mathematical relationships intrinsic to financial accounting
  • List elements of constructing a movable and scalable financial forecast which is an extension of the historic data
  • Evaluate the calculation and minimization of forecasting errors
  • Describe the evaluation of financial model outcomes in determining optimum and acceptable solutions to the decision problem

Total CPE: 2
Fields of Study: Statistics: 2
Program Level: Basic - Learning activity level most beneficial to individuals new to a skill or an attribute.

Who Should Attend:

Any professionals engaged in the development or review financial modeling of financial information for developing financial pro-forma and forecasted outcomes.

Prerequisites:

Previous training or experience with the fundamentals of accounting, finance, economics, and business writing. These individuals are often at the staff or entry level in organizations, although such programs may also benefit a seasoned professional with limited exposure to the area.

Advanced Preparation:

None

Mark Shirley

Mark  Shirley

CPA, ABV, CFF, CVA, MAFF, CFE

Read Biography

Perspectives on Valuation, Growth and Exit Planning in a Post-Pandemic World

Thursday, November 19, 2020 9:40 a.m. - 10:30 a.m. ET

This session will highlight the impact of COVID on key areas that impact a business' value and the ability of that business owner to increase the value that leads to a successful, future exit and equity monetization.

After completing this session, attendees will be able to:

• Recognize the changes in the marketplace from COVID and how those changes relate to the value and exit opportunities for business owner clients.


Total CPE: 1
Fields of Study: Business Management and Organization: 2
Program Level: Basic - Learning activity level most beneficial to individuals new to a skill or an attribute.

Who Should Attend:

CPAs, Business Consultants, Exit Planners, Financial Planners

Prerequisites:

Previous training or experience with the fundamentals of accounting, finance, economics, and business writing. These individuals are often at the staff or entry level in organizations, although such programs may also benefit a seasoned professional with limited exposure to the area.

Advanced Preparation:

None

John Leonetti

John  Leonetti

Read Biography

Chris Mellen

Chris  Mellen

ASA

Read Biography

Build the Never Ending Pipeline—How to Consistently Bring New Opportunities into Your Firm

Thursday, November 19, 2020 10:45 a.m. - 12:25 p.m. ET

Growing your firm can be a roller coaster ride. There are highs where projects seem to come out of nowhere followed by low, flat, painful droughts that make you question your firm's very existence. In this session, the presenter will take you through in-depth examples of the work his professional service clients have done to build Never Ending Pipelines of opportunities and prospects.

After completing this session, attendees will be able to:

• Create a system for identifying your prospect's decision process for procuring services
• Utilize customer input to define pipeline stages to match their decision process
• Assemble your marketing vendor's effort for better outcomes
• Revise internal measurements and bring down your cost per opportunity


Total CPE: 2
Fields of Study: Business Management and Organization: 2
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

CPAs, attorneys, marketers, and business development professionals.

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

None

Greg Chambers

Greg  Chambers

Read Biography

Testing, Validating, and Supporting Company Specific Risk—"Do We Have a Philosopher's Stone?"

Thursday, November 19, 2020 12:40 p.m. - 2:20 p.m. ET

Many accountants and expert witnesses are perfectly happy to bring their expertise to bear on analyzing financial records and uncovering the underlying facts of a loss. But they draw the line at testifying out of concern that opposing counsel will use cross-examination to make them look foolish—or worse, succeed. In this session, the presenter will review the evidentiary and procedural rules pertaining to expert witness testimony and discuss: (a) best practices to prepare for deposition or court testimony, (b) critical things to understand during the testimony and (c) ways to deal with some of the typical “gotcha” questions that arise.

After completing this session, attendees will be able to:

  • Identify the rules governing witness, and particularly expert witness, examination
  • Identify "best practices" to prepare for cross-examination
  • Identify a variety of cross-examination techniques and "gotcha" questions

Total CPE: 2
Fields of Study: Accounting: 2
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

CPAs, valuators, practitioners, and those interested in developing and advancing their skills.

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

Participants should already be familiar with typical forensic and litigation engagements.

Lari Masten

Lari  Masten

Read Biography

ESOP—Disrupting the Exit Strategy Platform

Thursday, November 19, 2020 3:20 p.m. - 4:40 p.m. ET

Employee stock ownership plans (ESOPs) are popular forms of deferred compensation plans and can be effective tools for exit planning. ESOPs provide tax advantages for the business owner seeking to plan for ownership succession and retirement while retaining control of the business. Structured properly, ESOPs can enhance the company’s liquidity, preserve working capital, reduce a business owner’s income tax burden, provide the business with tax deductions, and offer tax-deferred income to employees.

After completing this session, attendees will be able to:

•    Recognize the importance of how ESOPs can play an important role in the ownership succession planning
•    Explain what an ESOP is and how it works
•    Explain the critical role of valuation advisors in the ESOP process
•    Recognize the characteristics of companies that are good ESOP candidates 
•    Identify issues when it pertains to ESOP valuations


Total CPE: 2
Fields of Study: Finance: 2
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

Professionals who work with closely held businesses, valuation analyst, financial analyst, financial planners, accountants

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

None

Stephen White

Stephen  White

CVA

Read Biography

Mitigating Risk of Business Email Compromise

Thursday, November 19, 2020 4:55 p.m. - 6:35 p.m. ET

This session is designed to provide an overview of basic cybersecurity practices, also known as cyber hygiene, and includes a detailed discussion of Business Email Compromise scams

After completing this session attendees will be able to:

  • Identify the cycle of business email compromise scams
  • Describe the deliverables of a business email compromise scam
  • Recognize indicators of a business email compromise scam
  • Learn methods for prevention in an organization
  • Identify the scope of a business email compromise investigation for different purposes (e.g. civil, criminal, or an insurance claim)

 


Total CPE: 2
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

Financial experts who seek an in-depth understanding of cybersecurity statutes, liability, and damages, attorneys who wish to understand the role of a financial expert in cybersecurity assessments for different purposes, and professionals who intend to expand their practice into the various types of cybersecurity assessment. In addition, anyone interested in best practices for basic cybersecurity.

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

Previous training or experience with the fundamentals of accounting, finance, economics, and business writing. No previous training or experience with technology or cybersecurity is required.

Dorothy Haraminac

Dorothy  Haraminac

Read Biography

Best Practices in Business Valuation—A Practical Approach to Advanced Issues and Applications Workshop

Thursday, December 10, 2020 8:45 a.m. - 4:35 p.m. ET

This three-day course is for everyone, whether a first-year analyst or a seasoned BV veteran, and takes you through advanced issues and applications that you can use right away. Are you tired of esoteric concepts and applications that few use and even fewer understand? Are you tired of answers like, “When you look at it this way the answer is this, but if you look at it that way the answer is that?” Do you scream when a presenter says “It depends” when asked a question, even a basic one? The bottom line is that, while the valuation profession has come a long way, we still can’t come together and agree on many-and we mean many-valuation issues.  This course will make you feel more comfortable that you know how to understand and apply valuation techniques in the most supportable way.

After completing this course, attendees will be able to:

  • Differentiate between the various Income Approach methods and data inputs
  • Articulate the various risk analysis models and applications
  • Calculate, select, and adjust valuation market multiples
  • Assess the latest S corp court cases and how to use them
  • Employ report writing tips
  • Differentiate the valuation methods and reconciliation

Total CPE: 24
Fields of Study: Accounting: 11, Finance: 11, Regulatory Ethics: 2
Program Level: None

Who Should Attend:

This three-day course is for everyone, whether a first-year analyst or a seasoned BV veteran.

Prerequisites:

Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:

None