New Date! October 2, 2008 Teleconference

Discounts for Lack of Marketability and Related Discount Issues

Presented by BVR
Teleconference Presentation
- Earn three interactive CPE credits
Featuring Brian Pearson, President of Valuation Advisors, LLC and Mel Abraham for the Q&A Session
Thursday, October 2, 2008

10:00am-12:30am PDT / 11:00am-1:30pm MDT / 12:00pm-2:30pm CDT / 1:00pm-3:30pm EDT

Register for Teleconference for $249.00 - You Receive 1 Extra CPE Credit Free!
With your registration you'll receive a FREE 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 quantifying and applying discounts for lack of marketability
Program Level: Intermediate
Advance Preparation Required: None
Delivery Method: Group-Live
Recommended CPE Credit: 2 Interactive CPE Credits

Why Should You Attend?
Join Brian Pearson, President of Valuation Advisors, LLC, as he discusses the proceedings of the University of San Diego's School of Law Summit on DLOM, held on September 18, 2008, featuring Judge David Laro of the US Tax Court, and Event Chair Mel Abraham. Conference highlights will include direct commentary received from Judge Laro and several of the other experts at the Summit, including Lance Hall, Chris Mercer, Mukesh Bajaj and Ashok Abbott.

Brians' expanded session (previously scheduled on October 16, focusing exclusively on the utility of The Valuation Advisors' Lack of Marketability Discount Study™) also includes a highly informative discussion of the most vital DLOM databases and resources for business valuation professionals seeking to calculate accurate and defensible lack of marketability discounts. This two and a half hour session promises to deliver a thorough presentation and discussion of the most relevant topics any DLOM practitioner needs to know.

For more information about The Valuation Advisors' Lack of Marketability Discount Study™, click here.

Learning Objectives:

  • Hear a full report (from valuation and legal perspectives) on the crucial issues impacting DLOM practitioners
  • Understand how to use and apply the various databases and resources for quantifiying and defending lack of marketability discounts
  • Learn how to reconcile the various lack of marketability discount theories

Program Content:

  • Brief Introduction to Brian and Valuation Advisors, LLC

  • Speaker's Presentation on Discounts for Lack of Marketablity and Related Discount Issues (including conference highlights from the USD School of Law Summit on DLOM) :
    • Current state of valuation discounts
    • Current analysis of Section 2036 and the leading business valuation cases
    • Information on admissibility of expert testimony on discounts
    • New models for handling the built-in capital gains discount
    • Expert guidance on how to design FLPs with valuation discounts in mind
  • Reconciling the Lack of Marketability Discount Theories
  • A Closer Look at the Databases and Various Tools Available
    • The FMV Restricted Stock Study
    • Valuation Advisors' Lack of Marketability Discount Study™
    • Chris Mercer's Quantitative Marketability Discount Model (QMDM)
    • Vianello's Long Staff Model
    • Abbott's Equity Analysis Model
  • Key Thoughts from Hon. Judge David Laro
  • Outlook for the Future of Discounts
  • Audience and Panelist Q & A with Mel Abraham
  • Concluding Remarks

Panel Includes:

Brian Pearson, CPA/PFS/ABV, ASA

Mr. Pearson is the founder and President of Valuation Advisors, LLC. Valuation Advisors specializes in the determination of value for private and public companies on for a wide range of valuation services. He is the creator of theValuation Advisors' Lack of Marketability Discount Study™ database currently available thru Business Valuation Resources, LLC

Mr. Pearson has over 21 years experience in providing business valuation consulting.  He also has over 10 years of “big four” public accounting experience with an emphasis on advising closely held business owners on various tax and financial matters, including business valuations.  He has obtained his Accredited Business Valuation (ABV) and Personal Financial Specialist (PFS) designations from the American Institute of Certified Public Accountants (AICPA), and also has his Accredited Senior Appraiser (ASA) designation from the American Society of Appraisers.

Mr. Pearson has a Bachelors of Science degree in Accounting and a Masters degree in Business Administration, with a specialization in Finance.  He is a member of the AIPCA, the Western New York Venture Group, the Estate Analysts of Western New York, the American Society of Appraisers, and the New York State Society of Certified Public Accountants (NYSSCPA).  He has also taught valuation courses for the AICPA, NYSSCPA, the Graduate Tax Certificate program, Center for Entrepreneurial Leadership at the State University of New York at Buffalo, and the Annual Tax Institute.  He is the Chairman of the New York State Society of CPA’s Business Valuation committee and a member of their finance and investment committees.  He is also a member of the AICPA ABV exam writing committee.

Mel Abraham, CPA

Mr. Abraham is a Certified Public Accountant with over seventeen years of experience. Mr. Abraham is regularly sought after for a variety of valuation engagements around the country such as family limited partnerships, co-tenant interest valuations, operating businesses as well as various entities including corporations (S and C), partnerships, ESOPs and limited liability companies. These projects have ranged from small family owned businesses to large $100.0 million companies.

Mr. Abraham has recently completed filming a training video for the Internal Revenue Service focusing on valuations and valuation issues. This video is to be distributed internally at various levels to provide guidance on various valuation matters. He has also represented the Internal Revenue Service as their valuation expert and was jointly retained by taxpayer and Internal Revenue Service under the authorization of the U.S. Tax Court to provide a valuation of numerous entities that was be binding on all parties.

Mr. Abraham is an author and nationally recognized, award-winning speaker and a member of the esteemed National
Speakers Association. A recognized forensic expert witness in business financial issues, he is also a nationally
recognized and award-winning speaker addressing professional conferences on a local, state & national level. He provides strategies in risk management, threat management and self protection to clients across the country.

Mr. Abraham is one of the primary instructors of the NACVA's National Training Team. Mr. Abraham has been a guest lecturer for Tax Court Judge the Honorable David Laro, at his LLM program at the University of San Diego Law School on valuation issues. In October 1997, Mr. Abraham joined the faculty of the National Judicial College and was responsible for teaching the valuation course to the attending judges as well as being a featured presenter at the Tax Institutes for Arkansas, Kentucky, Oregon, Indiana and South Carolina, the Western Regional Estate Planning Forum, Internal Revenue Service Continuing Education Conferences and at the NACVA National Annual Valuation Conferences. Mr. Abraham was also a featured presenter at the AICPA Annual Business Valuation Conference in 2001 through 2004. Further, Mr. Abraham is the recipient of NACVA's 1998 Circle of Light Award (NACVA’s highest instructor distinction), Instructor of Exceptional Distinction (seven consecutive years – 1997 through 2003), 1997 Instructor of the Year Award as well as the 1996 Outstanding Member Award. Mr. Abraham was the Chairman of the 2003 AICPA Valuation Conference and is set to be the chairman again for the 2005 conference.

He is the Founder and President of The SAVE Foundation, a non profit charitable organization that provides programs and funding to assist those that have been or may be victims of abuse and violence as well as raise the public awareness to the problem and educate them in prevention. He is the creator of the much in demand program, Bulletproof Boundaries™ – Safety & Success Strategies for an Unsafe World. This educational program provides the intellectual tools for living with confidence and security in a risky world through awareness and recognition of threatening situations. This dynamic program addresses both personal safety and corporate security & financial crimes. He has received numerous speaking awards and authored numerous articles. His authoritative book, Valuation Issues and Case Law Update-A Reference Guide, has been released in a 4th edition. His latest book, Financial Valuation, was released last year by Wiley & Sons. Three additional books will be released in mid 2005: A Healthier You, (with Deepak Chopra and Billy Blanks), Conversations on Success, (with Nido Qubein, Joe Calloway and John Christensen) and Family Limited Partnerships.

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.

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.