Date: Thursday, June 12, 2014
10:00am-2:00pm PT / 1:00pm-5:00pm ET
Format: An Interactive Web Workshop

Earn 4.5 CPE credits
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Featuring  (click image for bio)

David Dufendach
Alvarez & Marsal
Randy Heng
Grant Thornton
Oksana Westerbeke
Grant Thornton
Jared A. Hannon
Grant Thornton

About This Program

In the ongoing search for simple, easy-to-explain valuation methods, many appraisers have given wide berth to Monte Carlo simulations, fearing their perceived complexity and unsure of their proper implementation. In doing so, valuable insights and metrics are being ignored, potentially at the peril of the appraiser.

The "Advanced Workshop on Monte Carlo Simulations" tackles these misperceptions and misapprehensions head on in an intensive, four-hour interactive presentation. Through four case studies, experts David Dufendach, Randy Heng, and Oksana Westerbeke show how to properly utilize Monte Carlo simulations when valuing warrants whose underlying assets are common stock or enterprise value, and when valuing a business opportunity for a buyout/restructuring or in an IPR&D project. From start to finish, Dufendach, Heng, and Westerbeke will lead attendees through how to put Monte Carlo simulations to use in this can't-miss presentation.


  • Introduction to Monte Carlo Simulations
    • When Monte Carlo simulations may be appropriate
    • Why Monte Carlo simulations may be appropriate
  • Case Studies
    • Valuation of a derivative: valuation of a warrant with anti-dilution features from two different perspectives:
      • A simulation in which the underlying asset is the common stock of the issuing company
      • A simulation in which the underlying asset is the enterprise value of the issuing company
    • Valuation of a business opportunity
      • A simulation of a leveraged buyout/restructuring, in which the primary variable of interest is the capital structure
      • A simulation of an IPR&D project, in which the variable of interest is the technological risk
  • Conclusion and Q&A

Learning Objectives

  • Learn how and when to use Monte Carlo simulations
  • Learn how to apply Monte Carlo simulations when valuing derivatives under a variety of circumstances
  • Learn how to apply Monte Carlo simulations when valuing business opportunities under a variety of circumstances
  • Define the best uses and applications of Monte Carlo simulations as well as how they can be utilized for your current projects

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: 4.5 Credit Hours (Specialized Knowledge & Applications)

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.
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