8
Date: Thursday, August 8, 2019
Time:
10:00am-11:40am PT / 1:00pm-2:40pm ET
Format: A BVR Webinar

Earn 2 CPE credits
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Featuring  (click image for bio)

Michael Vitti
CFA
Duff & Phelps
Seth Fliegler
CVA, MAFF, CFE
Duff & Phelps

About This Program

Willie Sutton robbed banks “because that’s where the money is.” The terminal value is an important component of a business valuation because that’s where most of the value is. Join Michael Vitti and Seth Fliegler of Duff & Phelps as they address the nuts and bolts of determining the terminal value, as well as issues that are brought up within the business valuation community and mistakes to avoid. Be better prepared to address terminal value-related issues after attending this event.

Agenda

  • General Approaches
    • Perpetuity
    • Exit Multiple
    • Reconciliation
  • Corporate Mortality / Discounting the Terminal Value to Present Value
    • Forever does not really mean forever
    • Some perpetuities are terminal
    • N v. N + 0.5 vs. N + 1 periods
  • Teasing Out Implied Assumptions
    • For example, predictions on what future congresses will do re: corporate income tax rates
  • ‘Permanent’ Temporary v. ‘Temporary’ Temporary Differences
  • Relationship Between Depreciation and Capex 
  • Interrelationship between Investment, Rates of Return, and Value
  • Terminal Value Disputes in Litigation

Learning Objectives

  • Identify and address various nuances that underlie terminal value determinations
    Identify implied assumptions
    Describe to defend their terminal value determinations in a dispute setting

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.


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