January 8, 2009 Teleconference

Subsequent Events

Presented by BVR
Teleconference Presentation
- Earn two interactive CPE credits
Featuring: Moderators Jay Fishman and Jim Hitchner; Shannon Pratt, Mike Mard, and Chuck Rettig, Esq.
Thursday, January 8, 2009

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

Register for Teleconference for $249.00

Register for Conference and On Demand Conference Pack for $339
With your registration you'll receive the On Demand conference pack that includes an audio recording, PDF transcript of the conference, presentation slides, and all accompanying ancillary reading materials.
This program is presented by Business Valuation Resources, LLC. Earn TWO Interactive CPE credits for participating in this conference. Only $249.00 for a single dial-in connection.

For more specific information about our teleconference programs and specific program registration requirements, click here.

Program Prequisites: Knowledge of Business Valuation
Advance Preparation Required: None
Program Level: Intermediate
Delivery Method: Group-Live
Recommended CPE Credit: 2 CPE/1.5 CLE Credits

Why You Should Attend:

Known. Knowable.  Foreseeable.  From the courtroom to the valuation report, subsequent events can be an appraiser’s worst enemy.  In this 100 minute teleconference, Jay Fishman (FASA), Jim Hitchner (CPA/ABV, ASA), Mike Mard (CPA/ABV, ASA), Shannon Pratt (CFA, FASA, MCBA, CM&AA), and Chuck Rettig (J.D.) will tackle problems of subsequent events and the best practices for your valuation.

Join this brain trust of BV experts as they discuss standards for managing subsequent events, judicial precedents and guideline cases, the practicality of solutions to subsequent event problems, and the dangers of “known, knowable, and foreseeable.”  This presentation is a must for any appraiser whose valuation report or testimony could be skewed by events after the fact.

Learning Objectives:

  • Learn how to handle the “Known, Knowable, and Foreseeable”
  • Understand Subsequent Events and the judiciary
  • Clarify objectives in court

Program Outline:

  • Subsequent Events guidelines and standards
  • Financial Planning and Subsequent Events
  • Subsequent Events in court: Judicial history
  • Courts of Law vs. Courts of Equity
  • Reconcile Factors of Value

Panel Includes:

Jay Fishman, FASA, Moderator

Jay Fishman , FASA is a Managing Director of Financial Research Associates and has been actively engaged in the appraisal profession since 1974. He specializes in the valuations of business enterprises and their intangible. Mr. Fishman has co-authored several books, including the recently released Standards of Value: Theory and Applications and the highly acclaimed Guide to Business Valuations (both with Shannon Pratt) , and written numerous articles on business valuation as well as qualifying as an expert witness and providing testimony in twelve states. He has taught courses on business valuation to the Internal Revenue Service, the National Judicial College , and the Hong Kong Society of Accountants, on behalf of the World Bank in St. Petersburg , Russia and most recently in Moscow , Russia

He holds a bachelor's and master's degree from Temple University as well as an M.B.A. from LaSalle University . Mr. Fishman is a Fellow of the American Society of Appraisers, a former Chairman of the Business Valuation Committee of the American Society of Appraisers, Editor of the Business Valuation Review , Chair of ASA's Government Relations Committee, a former Trustee of the Appraisal Foundation, Chair of its Task Force on Best Practices for Financial Reporting and was appointed to the Internal Revenue Service Advisory Committee in 2008.

Jim Hitchner, CPA/ABV, ASA, Moderator

James R. Hitchner, CPA/ABV, ASA, is Managing Director of Financial Valuation Advisors, President of The Financial Consulting Group and CEO of Valuation Products & Services. He is also Editor in Chief of Financial Valuation and Litigation Expert journal.
Mr. Hitchner is editor/coauthor of the books Financial Valuation: Applications and Models (FVAM), second edition; Financial Valuation Workbook (FVW), second edition, and Valuation for Financial Reporting, Fair Value Measurements and Reporting: Intangible Assets, Goodwill, and Impairment (VFR), second edition, all published by Wiley. He is also coauthor of PPC’s Guide To Business Valuations, 18th edition, published by Thomson.  FVAM and FVW have been adopted by the AICPA for its five-day National Business Valuation School courses and by NACVA for its three-day Advanced Business Valuation courses. VFR is the required text for the ASA’s new course BV301 Valuation of Intangible Assets for Financial Reporting Purposes.

Mr. Hitchner has been recognized as a qualified expert witness and has provided testimony on valuations in numerous state and federal courts.  He has spent 27 years in valuation services and has coauthored 20 courses, taught over 60 courses, published over 60 articles, and has made over 100 conference presentations.  He is also an inductee in the AICPA Business Valuation Hall of Fame.  He was also one of only four members of the AICPA Business Valuation Standards Writing Task Force and served for the entire six years up to the June 2007 official release of the standards.

Shannon Pratt, CFA, FASA, MCBA, CM&AA

Dr. Shannon Pratt is the Chairman and CEO of Shannon Pratt Valuations, Inc. and is the founder and Editor Emeritus of Business Valuation Resources, LLC.

He has performed valuation assignments for the following purposes: transaction (acquisition, divestiture, reorganization, public offerings, public companies going private), taxation (federal income, gift, and estate and local ad valorem), financing (securitization, recapitalization, restructuring), litigation support and dispute resolution (including dissenting stockholder suits, damage cases, and corporate and marital dissolution cases), and management information and planning. He has also managed a variety of fairness opinion and solvency opinion engagements.

Dr. Pratt has testified on hundreds of occasions in such litigated matters as dissenting stockholder suits, various types of damage cases (including breach of contract, antitrust, and breach of fiduciary duty), divorces, and estate and gift tax cases.

Dr. Pratt taught was a professor of business administration at Portland State University’s Business School of Management from 1963-1969. During this time, he directed a research center known as the Investment Analysis Center, which worked closely with the University of Chicago’s Center for Research in Securities Prices. In 1969 Dr. Pratt went into the business valuation profession.

Dr. Pratt holds a Doctor of Business Administration, Finance from Indiana University and a Bachelor of Arts, Business Administration from University of Washington. He is an accredited senior appraiser and fellow (FASA), certified in business valuation, of the American Society of Appraisers (their highest designation). He is also a chartered financial analyst (CFA) of the Institute of Chartered Financial Analysts, a master certified business appraiser (MCBA) of the Institute of Business Appraisers, a certified business counselor (CBC), and is certified in mergers and acquisitions with The Alliance of Merger and Acquisition Advisors (CM&AA).

Dr. Pratt is a lifetime member emeritus of the Business Valuation Committee of the American Society of Appraisers. He is also a lifetime member emeritus of the Valuation Advisory Committee of The ESOP Association. He is a recipient of the magna cum laude award of the National Association of Certified Valuation Analysts for service to the business valuation profession. He is also the first life member of the Institute of Business Appraisers. He is a member and a past president of the Portland Society of Financial Analysts, the recipient of the 2002 Distinguished Achievement Award, and a member of the Association for Corporate Growth. Dr. Pratt is a past trustee of The Appraisal Foundation and is currently an outside director of Paulson Capital Corp., an investment banking firm.

Michael J. Mard, CPA/ABV, ASA

Michael J. Mard, CPA/ABV, ASA has been a full-time business appraiser and expert witness for 25 years with a broad range of experience from small companies to very large billion dollar companies, both private and public. He has developed analyses that have been reviewed and accepted by the Securities and Exchange Commission, major accounting firms, the IRS and the courts.  Mr. Mard has provided expert testimony approximately 100 times, in both Federal and state courts, related to intangible assets, intellectual property, business damages, marital dissolution, shareholder disputes and IRS matters. 

Mr. Mard is lead author of four books, most recently GUIDE TO FINANCIAL REPORTING: Business Combinations, to be used in conjunction with official pronouncements SFAS Numbers 141R, 157 AND 160, published by Wiley & Sons, Inc., January, 2008. He is a co-author of five additional books, all published by John Wiley & Sons, Inc.  Mr. Mard has co-authored 20 courses and published over 60 articles.  He has been a presenter, speaker and instructor more than 70 times.

In 1998, Mike was asked by the AICPA to assist the FASB staff in its research and development of procedures for valuing intangible assets. This led to the passage of SFAS 141 and 142. Mike gave two educational presentations to the full Board during this time and served on the original FASB Valuation Resource Group. In 2007 Mike was reappointed to that Group. For the last eleven years, he has worked with various task forces of the FASB and now enters his third year serving the FASB’s Valuation Resource Group.

He has received the AICPA Business Valuation Volunteer of the Year Award and been inducted into the AICPA Business Valuation Hall of Fame. He has a Masters of Accounting from the University of South Florida, is a Florida CPA and holds the AICPA Accreditation in Business Valuation (ABV) specialty designation and the Accredited Senior Appraiser (ASA) with the American Society of Appraisers.

Chuck Rettig, Esq.

Chuck Rettig has been quoted with respect to tax-related matters by the Wall Street Journal, the Los Angeles Times, Forbes, Tax Analysts-Tax Notes, the BNA Daily Tax Report and other national periodicals. As stated in the Chambers USA Guide, "According to peers, Charles Rettig of small tax controversy boutique Hochman Salkin Rettig Toscher & Perez is ‘phenomenal, just phenomenal.' He has a ‘tremendous reputation' for his work which is primarily tax controversial." For 2008 Chambers USA Guide added "Charles Rettig of California's Hochman Salkin Rettig Toscher & Perez is regarded by market sources as a 'brilliant and gifted lawyer'" who “enjoys a superb reputation and benefits from ‘great presence.’” “Fantastic controversy tax lawyer” Charles Rettig is “knowledgeable and very intelligent.” He is a Certified Specialist in both Taxation Law and Estate Planning, Trust and Probate Law, by the State Bar of California Board of Legal Specialization.

Mr. Rettig  is a member of the IRS Advisory Council (IRSAC); the Advisory Board of the California Franchise Tax Board; the Institute Chair for the UCLA Extension Annual Tax Controversy Institute; a Planning Committee Member for the USC School of Law 50th Annual Institute on Federal Taxation (Institute Chair for the Subcommittee on Ethics, Compliance and Enforcement);  a Planning Committee Member and the “Tax Controversies” Chair for the 67th NYU Institute on Federal Taxation and a Member of the Board of Trustees for the California CPA Education Foundation. He was selected as both a Top 100 Super Lawyer (Los Angeles County) by Los Angeles Magazine / Southern California Super Lawyers Magazine in 2005 and a Top Tax Super Lawyer (Los Angeles County), Los Angeles Magazine / Southern California Super Lawyers Magazine in 2004, 2005, 2006, 2007 and 2008. He was selected as one of the “Top 50 IRS Representation Practitioners for 2008" by CPA Magazine.

CPE Credit Information - National Registry of CPE Sponsors Statement

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

Please note: To receive CPE credit, you must fill out the post conference survey. The survey link is emailed to participants along with the dial in instructions, normally sent two or more days prior to the conference. CPE credit only registrants will be sent the survey link via email as well. To ensure appropriate and timely delivery of this information, please make sure your email address for each registrant (main and CPE only) is up to date when placing your order. Also, if you transfer your registration last minute to another attendee, please plan to forward the dial in instructions to them unless you have notified BVR of the change prior to the conference.

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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: stephaniec@bvresources.com or mail to BVR, LLC, 1000 SW Broadway, Suite 1200, Portland, OR 97205.