Business Valuation Resources, LLC April 2, 2009 Conference

Valuing Professional Practices
Presented by Business Valuation Resources, LLC

Featuring: Kevin Yeanoplos, CPA/ABV, ASA, Ron Seigneur, MBA, CPA/ABV/CFF, CVA, and Stuart Weiss (Moderator), CPA/ABV, MBA
Thursday, April 2, 2009

10:00am-11:40am PT / 1:00pm-1:40pm ET
Earn 2 CPE credits

Register for Teleconference - $249.00

Register for Teleconference and On Demand Conference Pack - $339.00

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NEW FOR 2009 - Unlimited listeners for CPE credit at no charge!
Invite your entire office to listen in!  BVR is now offering CPE to an unlimited number of attendees of our teleconferences and webinars at no additional charge.  Simply purchase one phone line and anyone at your location can listen in, enjoy the session, and earn CPE credits. Call (503) 291-7963 for details.

Hear about the program from teleconference presenter Kevin Yeanoplos:
Click to Play:

Why you should attend:

Lawyers, accountants, engineers, architects, dentists, chiropractors, physicians…The world of professional practices is expansive and varied, presenting numerous challenges to the process of business appraisal.  How does an appraiser arrive at the proper value when analyzing a company whose product is intangible and whose marketplace is determined by much more than supply and demand?  How does an appraiser distinguish between personal and professional goodwill, and what is the value of customer relationships in a professional practice?

On April 2, Kevin Yeanoplos, Ron Seigneur, and moderator Stuart Weiss will tackle these and other questions in their teleconference “Valuing Professional Practices”.  Covering all the problem areas professional practices produce in the valuation process, Kevin, Ron, and Stuart will present what ever appraiser needs to know.


  • Introduction: Definition of a professional practice
  • Reasons for valuing a professional practice
    • Examples include: Divorce, Estate/Gift Tax, and ESOPs
  • Characteristics of professional practices
    • Service oriented
    • Greater percentage of intangible assets
  • Typical intangible assets
    • Examples include: going concern and customer relationships
  • Typical tangible assets
  • Cost of capital issues
    • Methods
    • Sources of data
  • Goodwill issues
    • Personal vs. Professional
    • Calculating
    • Reasonable compensation
  • Valuation approaches and methods as applied to professional practices
    • Asset approach
    • Income approach
    • Market approach
    • Excess earnings
  • Live Q&A

Learning Objectives:

  • Learn the methods and best practices when valuing a professional practice
  • Spot the problem areas before the appraisal, and clarify how each should be valued
  • Understand the strengths of professional practices, and which intangible assets are vital
  • Learn how standard valuation methods can be best used when appraising a professional practice

Spotlight Series

With "Valuing Professional Practices", BVR is launching an ongoing series of teleconferences focused on the valuation of specific industries, businesses, and business models, called the Industry Spotlight Series. With each new edition of the series, BV thought leaders will guide listeners through the characteristics of the target industry and how to deal with the complications they present to the appraisal process.  The unique, hands-on knowledge gained from BV experts who specialize in target industry will prepare listeners for their next engagement.

Next Industry Spotlight Series Teleconference: Valuing Dental Practices, May 14.

Panel Includes:

Kevin Yeanoplos, CPA/ABV, ASA, Brueggeman and Johnson Yeanoplos, P.C.

Kevin R. Yeanoplos, CPA/ABV, ASA is the Director of Valuation Services for Brueggeman and Johnson Yeanoplos, P.C., a firm with offices in Seattle, Washington, Tucson, Arizona and Salt Lake City, Utah that specializes in the areas of business valuation, financial analysis and litigation support. Mr. Yeanoplos has extensive experience, having valued over 900 businesses for a variety of purposes, including divorce and other litigation, gift and estate taxes, mergers and acquisitions, and ESOP’s. He has valued businesses for a broad spectrum of companies in various industries, including aircraft parts manufacturers, construction companies, automobile dealerships, restaurants, and various retailers. He has also valued various professional practices, including accounting firms, law firms, and medical and dental practices. Mr. Yeanoplos has evaluated economic loss suffered by parties in cases involving contract disputes, medical malpractice and wrongful termination.

Mr. Yeanoplos has testified as an expert witness in both state and Federal courts on a number of issues, including business valuation, financial analysis, and damages. He has testified as an expert in Utah, Arizona, Colorado, Illinois, Tennessee, Washington, Florida, and Pennsylvania. He has been recognized as a leading expert in accounting/valuation by attorneys listed in The Best Lawyers in America as part of Best Lawyers Preferred.

Mr. Yeanoplos has considerable experience in lecturing to professionals on the topics of valuations of closely held businesses, applied finance and financial analysis issues and theory. He was a guest lecturer at the Thunderbird School of Management and the University of Arizona’s Eller School of Business. He has taught courses in 35 states and the District of Columbia, as well as in Canada. He has authored and/or instructed programs for the American Institute of CPAs (“AICPA”), the Utah Association of CPAs (“UACPA”), the Arizona Society of CPAs (“ASCPA”), the American Society of Appraisers (“ASA”), the State Bar of Arizona, the Utah State Bar, and many other professional organizations.

Most recently, he co-authored the AICPA’s Accredited in Business Valuation Exam Review Course, was a contributing author to the 2001 Supplement to Valuing Professional Practices & Licenses,a contributing author to the 2004 Forensic Accounting in Matrimonial Divorce supplement to the Journal of Forensic Accounting, and was a co-author of Financial Valuation: Application and Models 2nd Edition. He was a presenter at the 2001 Domestic Relations Conference sponsored by the Arizona Supreme Court.

Mr. Yeanoplos is currently serving as Chair of the AICPA’s ABV Credential Committee and a member of their Virtual Grassroots Panel. He was named the AICPA’s Business Valuation Volunteer of the Year in 2006. He served as a member of the AICPA’s Consulting Services Business Valuation Committee, Chaired the AICPA’s 2000 Annual Business Valuation Conference, is Chair of the ASCPA’s Business Valuation Committee and was the founding Chair of the UACPA’s Business Valuation Committee. Mr. Yeanoplos is a Certified Public Accountant Accredited in Business Valuation and was in the charter class of those earning the ABV credential. In addition, he is an Accredited Senior Appraiser in the Business Valuation discipline for the American Society of Appraisers. He is a member of the American Arbitration Association's Commercial Panel. He is currently a member of the ASA’s International Board of Examiners.

Ronald L. Seigneur, MBA, CPA/ABV/CFF, CVA, Seigneur Gustafson LLP

Ronald Seigneur is a partner in Seigneur Gustafson LLP, a CPA firm located in Lakewood, Colorado.  He holds the AICPA specialty designation of Accredited in Business Valuation (ABV), and is a Certified Valuation Analyst (CVA) with the National Association of Certified Valuation Analysts.  He has published over 100 articles on business valuation, commercial damages, leadership, and related subjects. Ron has developed & taught a number of intermediate and advanced business valuation courses for the AICPA, NACVA, state Bar Associations; and currently serves as the chair of the AICPA BV Webcast production team.

Ron has been qualified and provided testimony as an expert witness in several jurisdictions on a wide range of issues ranging from complex business valuations, forensic investigations, and various forms of economic damages.  Ron has served appointments as trustee, mediator, arbitrator, special master of the court, as well as serving as an expert for the Colorado State Board of Accountancy and Colorado Attorney General. He is co-author of the 1300+ page treatise on business appraisal titled Financial Valuations: Applications and Models, published in 2006 by John Wiley & Sons. 

He is a past chair of the AICPA ABV Credential Committee and has been a member of the AICPA BV Committee, the AICPA Consulting Services Executive Committee, past chair of the NACVA Professional Standards Board, and past Treasurer of the Colorado Society of CPAs.  Mr. Seigneur was inducted into the AICPA Business Valuation Hall of Fame in 2006, is a fellow of the College of Law Practice Management and has been an adjunct professor at the University of Denver College of Law for over 18 years where he teaches financial, management and leadership courses. 

He has a Bachelor of Arts in Hotel, Restaurant and Institutional Management from Michigan State University, and a Master of Business Administration in Corporate Policy and Finance from the University of Michigan. 

Stuart Weiss, CPA/ABV, MBA, Stuart Weiss Business Writing, Inc.

Stuart Weiss, CPA/ABV, is both a business journalist and a valuation professional. He is a former Business Week magazine writer and current columnist for Investors Business Daily. He also has a business valuation practice in Portland and is treasurer of a family business.


CPE Credit Information

Earn 2 Interactive CPE Credits (Consulting Services)
Business Valuation Resources, LLC 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 addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417. NASBA Sponsor

BVR's Satisfaction Guarantee:
Business Valuation Resources offers a complaint resolution and refund policy with a 100% money-back guarantee. If you are not completely satisfied with your conference experience, or have any concerns or complaints, you may contact Business Valuation Resources at (503) 291-7963 ext. 102 for a satisfactory resolution of your concern or you may submit a written request for a full refund of this program to Stephanie Crader at: or mail to BVR, LLC, 1000 SW Broadway, Suite 1200, Portland, OR 97205.