24
Date: Thursday, August 24, 2017
Time:
10:00am-11:40am PT / 1:00pm-2:40pm ET
Format: A BVR Webinar

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Featuring  (click image for bio)

Barry Baker
CapVal-American Business Appraisers

About This Program

In the 36 years since the first edition of Shannon Pratt’s Valuing a Business was published, we have seen a proliferation of data, tools, and techniques for business valuation. Some of these have been incredibly useful, leading to more reliable valuations, and ushering in a new era of “evidence-based business valuation.” However, this proliferation has made it difficult for appraisers to keep up-to-date on the latest developments in the field. There are also concerns that the profession is trying to turn the “art” of valuation into the “science” of valuation, and becoming overly mechanistic in the process. Join Barry Baker for an exploration in the application of professional judgment in a data-driven world, and get recommendations for justifying and supporting your professional judgement.

Agenda

    Background and general recommendations

    • Business valuation has matured as a field and profession
    • Old school approach used to justify and support judgments:
      • “In my experience…” or “In my professional opinion…”
      • Both are too close to the salesman’s pitch “Trust Me”
    • New school approach increasingly required:
      • Evidence-based business valuation
      • Must apply and communicate the analytical process and data that supports your opinion
      • Echoes of the familiar “Trust but Verify” or maybe “Show Me the Money”
    • Is there still room (or a need) for professional judgment?
    • General recommendations based on Revenue Ruling 59-60 and its reference to “the elements of common sense, informed judgment and reasonableness”

    Specific examples and recommendations in areas that frequently require professional judgment:

    • Tying together economic, industry and company analysis
    • Subject company normalization adjustments
    • Income approach –projected cash flow, operational and financial risk, and long-term growth
    • Market approach – comparable data selections, exclusions & adjustments
    • DLOC and DLOM adjustments
    • Weightings and reconciliation

    Learning Objectives

    • Understand how the role of business appraisers has evolved in a data-driven world, and the reasons that professional judgment and communications skills may be more important than ever
    • Describe best practices for developing and supporting your opinion of value
    • Explain the frameworks and reasonableness tests that can be applied in various areas that frequently require professional judgment
    • Articulate why the business appraisal profession should develop/adopt new methods and data sources derived from relevant “real world” transactions

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 (Specialized Knowledge & Applications)


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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