Featuring  (click image for bio)

William H. Frazier ASA W.H. Frazier & Co., Inc.

About This Program

Agenda

• Holding period ranges
• Probability distributions
• Asset classes and rate of return
• Distributions
• Lack of control
• Mean reversion of returns
• Asymmetrical information
• Incremental RROR for lack of control
• Lack of marketability or illiquidity
  • Survey of the academic literature
  • Incremental RROR for lack of marketability
• Portfolio return
• Determination of curve of best fit
  • One value
  • Iterative technique
• Fair market value

Learning Objectives

• Participants will learn that the income approach has come of age in valuing FLPs in Tax Court. The failure to use the income approach can put you at a competitive disadvantage
• Participants will learn how the relationship between FMV and NAV (also known as the “total discount”) varies with time and risk. Further, the result is quantitatively determined based on salient, objective evidence
• Participants will learn why the incremental rates of return for lack of control and lack of marketability are not static and must vary with time
• Participants will learn how distributions and the future probability of liquidation affects value

Single Connection Policy

Admission to this event authorizes one computer and phone connection for one location. These connections may be transferred users and/or locations. Multiple concurrent connections for a single admission registration are not allowed.

Multi-User CPE Policy

Admission to this program includes one CPE certificate for one individual. Any additional listeners requesting CPE must pay a processing fee assessed at the completion of the online CE survey for this course.

CPE Processing Fees may be bypassed by entering a valid, unused CPE Authorization Code (for single event purchasers) or by logging into BVR's website (for subscribers to BVR's Training Series).

CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group Internet-Based
Recommended CPE: 2 Credit Hours (Accounting Technical)

Closed Captioning:

BVR now has closed captioning on all 2019 past programs. To try out this enhancement, subscribers can login to the Desktop Learning Center, select a program, and click play video. The captions will start to play automatically, and can be disabled from the player per your preference.

Business Valuation Resources 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 submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. NASBA Sponsor

Training Packs: Conference Recordings & Transcripts
Now delivered as an electronic download.

BVR's Training Packs are an indispensable addition to any valuation reference library. Use them as training tools as many times as you'd like, wherever you are: play them at your computer at work or home, in your car, or on your personal audio device.

Delivered as an electronic download approximately four weeks after the program has aired, each Training Pack includes:

• Recordings and transcripts of the presentation
• All presentation visual aids and handouts
• All ancillary reading materials suggested by our presenters

For a complete list of available Training Packs from past webinars, click here.

Subscriber Information

Subscribers to BVR's Training Passport are automatically registered for this event. For more information contact BVR or login to your account.