Business Valuation Resources, LLC

Advanced Topics in Debt Valuation

Date: Thursday, September 20, 2012
Time:
10:00am-11:40am PT / 1:00pm-2:40pm ET
Format: A BVR Webinar

Earn 2 CPE credits
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Register for this program:

Webinar - $179
Training Pack* - $179
Webinar & Training Pack* - $269

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*Training Packs include: a complete recording and transcript with all presentation and reading materials
Please note: CPE credit is not available through Training Packs
More information is available below

Featuring:

Vincent Covrig
PhD, CFA
Crowe Horwath LLP
Daniel L. McConaughy
PhD, ASA
Crowe Horwath LLP

Why You Should Attend

A sound valuation of any business will incorporate an assessment of the debt that business carries. Yet approaching this analysis and employing the many techniques to perform and apply debt valuations can be perilous, at best. In "Advanced Topics in Debt Valuation" experts Vincent Covrig and Dan McConaughy join BVR to address the many aspects in which debt valuation can be performed, applied, misused, misdirected, corrected, and properly implemented. From liquidity and marketability to DCF and WACC, Covrig and McConaughy’s presentation may be one of the most important and far reaching in business valuation this year.

Agenda

  • Why Value Debt?
  • Where is the risk?
    • Risk in Cost of Debt
    • Risk in Cash Flows
  • Overview of Debt Instruments
    • Bank Loans and Subordinated Debt
    • Convertible
  • Debt Valuation Models and Cost of Debt
  • Credit Analysis
    • Ratio Analysis
    • Synthetic Credit Rating
    • S&P Method
    • Moody's Method
    • RMA
  • Adjustments
    • Liquidity
    • Call/Put features
    • DLOM
  • WACC
    • Risky Debt
    • Debt, Equity and Asset Betas
  • Distressed Debt
    • Debt, Equity and Asset Volatilities (Merton Model)
    • OPM for Debt

Learning Objectives

  • Clarify the importance of debt valuation and learn all of its far reaching applications and implications
  • Learn how to implement a variety of debt valuation techniques and what each implies
  • Learn how to apply the outputs of debt valuation techniques and what these metrics mean for other aspects of business appraisal and value
  • Learn what distressed debt means for other metrics it affects as well as business 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).

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Have as many eyes and ears take advantage of your registered connection as possible: CE credit is available for an unlimited number of listeners to any registered line. To add listeners for CE credit, please complete the Additional Listener form included on your webinar dial-in instruction email. We'll send dial-in instructions one to two days before our program, and will provide information directly to those listeners you identify approximately one hour before our program.

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, 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 submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

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Training Packs

BVR's Training Packs are an indispensable addition to any valuation reference library, or the perfect alternative when you cannot attend the session live.

Each Training Pack is delivered approximately 2-4 weeks after the program has aired, and includes:

  • Video file (MP4)
  • Audio file (MP3
  • Transcript of the presentation
  • A copy of the presentation slides
  • A copy of the reading materials, visual aids, and handouts

Please note, CPE is not available with Training Packs.





BVR's Satisfaction Guarantee:
Business Valuation Resources offers 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, cs@bvresources.com or mail to BVR, LLC, 1000 SW Broadway, Suite 1200, Portland, OR 97205.