Betas are misunderstood, misapplied and, often, feared. A key feature of the CAPM is “beta” that represents an asset’s exposure to market risk. Practitioners using the CAPM or its modified form must determine a beta value to apply the model for cost of capital calculations. Join Dr. Michael Crain and Dr. Bill Kennedy for an exploration of the theory and evidence of CAPM beta, use of beta in valuation practice, and the link between capital structure and beta.
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Many private companies are exposed to event risks such as the loss of a major customer. A common practice to account for this risk is to leave expected cash flows unchanged but add a few hundred basis points to the discount rate. Join Gary Schurman to learn how to build a quantitative valuation model that accounts for event risk and is consistent with economic theory. Learn the difference between diffusion and jump-diffusion asset price models, and how to model event risk via exponential arrival times. Take the time to better understand how event risk can be incorporated in your next valuation model.
Click here for more information. BVR webinars have a US focus.
Healthy business relationships are an essential component of business success. As an advisor it is important to recognize the foundations of a healthy business relationship and to account for same in valuing a business. Join William Piercy and Mark Zyla for a discussion on the factors that improve or detract from productive business relationships and the impact of those factors on the value of a business. If internal dissension within the management, operations or ownership of a closely held business cause a business to begin to fail from the inside it is critical to know methods to maintain an entity’s value. Learn skills to assist business owners to bring a successful and efficient resolution in the event of a “business divorce”, and help end bad business relationships so your clients can move forward with better ones.
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Getting clients to provide probability estimates is a part of many valuation engagements, but is one of the least rigorous, and hardest to document and defend, estimates in a valuation. In this program, James Walling, CFA, MBA (Grant Thornton, LLP) will help you to understand the hidden bias in most probability estimates and offer a practical method for getting your clients to get past these biases and provide better estimates. This process will also provide a basis for documenting the considerations that went into the estimate for report and audit review.
As with all BVResources Webinars, this webinar has a U.S. focus. Click here for more information on the agenda and learning objectives.
Hertz. Marriott. RE/MAX. Franchises are everywhere. Join expert Nevin Sanli (Sanli Pastore & Hill) for an overview on franchises, the franchisor and franchisee relationship, and key terms found in franchise disclosure documents agreements. Learn the key considerations and potential challenges that may arise while valuing non-food franchisors or franchisees. With over 30 years of experience, Nevin Sanli will share a detailed case study on the valuation of a franchisee that will provide real-time insight into the thought process as you evaluate the franchisee’s business model, historical financials, projected representative financials, and guideline private transactions to determine the fair market value of a 100% controlling, marketable interest in the franchisee. Invest in this informative, practical session that will facilitate expansion of your franchise valuation skills.
As with all BVResources Webinars, this webinar has a U.S. focus. Click here for more information on the agenda and learning objectives.
Join CICBV & BVR as they present expert appraiser Joshua Lefcowitz, CPA/ABV/CFF, CVA, CFE, ASA. Josh Lefcowitz (of BDO) will provide an insightful look into unconventional drilling and the impact on valuing oil and natural gas rights. This webinar will focus on the economic conditions in the U.S. that affect the oil and natural gas industry and their impact on the value of certain unconventional drilling rights. Lefcowitz will examine commodity pricing issues around oil and natural gas, current supply versus current demand, and recent industry developments. Attendees will gain an understanding of how the fundamental issues of production and pricing affect valuation and mergers and acquisitions.
Join expert appraiser Nathan DiNatale for an in depth discussion on best practices for and fair value assumptions used to prepare valuations of intangible assets and corresponding purchase price allocations. This can’t-miss webinar includes a review of the fundamentals of FASB ASC 805: Business Combinations along with practical case studies. CICBV and BVR are co-marketing this webinar. As with all BVR webinars, this webinar will have a US focus.
The presentation will cover various methods of considering cost of capital for countries other than the United States, especially in project situations whereby multiple countries must be considered. Discussions will include application to both US currency based projections and country specific currency projections. Country examples will include high inflation countries.
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As any appraiser will tell you, there is a fundamental difference between price and value, often highlighted by the sale of a recently-appraised business at a price far from the assessed value. In this case, the gap between price and value may be of small consequence; in the assessment of underlying assets, market comparables, and with appraiser bias, this gap can jeopardize even the most reasoned and objective determinations of value.
In “Price and Value: Discerning the Difference, an Advanced Web Workshop” Dr. Aswath Damodaran joins BVR for a thorough examination of the differences between price and value, their determinations, and, ultimately, the consequences of feedback between these two concepts. Following his presentation, Damodaran, one of the most insightful and sought-after voices in valuation, will host Q&A session.
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On August 21, the BVLaw™ Case Update returns with a one hour briefing from BVLaw™ Legal Editor Sylvia Golden and valuation expert James Alerding. Join BVR’s point-counterpoint answer to Shields and Brooks, Couric and Lauer, and Hall and Oates for a discussion of recent and impactful judicial decisions that shape the methods and practices of valuation professionals.
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The valuation of voting and non-voting shares would, like many valuation assignments, appear to be a simple consideration between two variations of the same structure. Like many valuation assignments, the truth is much more complex, requiring greater scrutiny of both objective and subjective considerations to arrive at a sound conclusion of value. In “Valuing Voting v. Non-Voting Stock,” Ronald Rudich examines how these two types of stock differ and what this implies for the valuation process. From simple mathematical relationships to the subjective choices an appraiser must make and the consequences of those decisions, Rudich will show that there’s much to consider when facing this valuation assignment.
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Adjustments for controlling and non-controlling interests are a knotty tangle of subjective considerations behind a seemingly simple objective analysis. Including considerations of cash flows, goodwill, marketability, and other classic valuation gray areas, control decisions can make or break the defensibility of a conclusion of value.
In the Advanced Workshop on Control Premiums & Discounts, expert appraisers James Alerding and James Ewart provide an exhaustive four-hour look at the many pieces of information that affect, and are affected by the determination of a control premium or discount. Through case studies and live examples, this workshop will provide the most complete picture of this issue ever presented, including a consideration of professional guidelines, judicial decisions, and best practices.
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Love them or hate them, hotels are a ubiquitous feature of modern life – and frequently of business appraisal. In their January 30 webinar, experts Mark Dayman and Kari Lazarova join BVR for an examination of the numerous valuation challenges posed by these deceptively simple businesses. Join them to learn what every business appraiser should know when appraising a hotel.
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The valuation of fractional interests represents a set of challenges that are uniquely transcendent across asset classes. Whether in the case of businesses, securities, real estate, or fine art, the appraiser tasked with placing a value on a divided interest faces a set of challenges that are both specific to that interest and general to the proportion of ownership. The Advanced Workshop on Fractional Interest Valuation is an intensive four-hour examination of how to recognize and overcome the obstacles presented by divided and undivided interests in any asset. Under the guidance of expert Dennis Webb, attendees will learn how to apply the universal methods of fractional interest valuation to a variety of assets, through exhaustive case studies and live examples. Learn the methods, analysis, and emerging judicial and professional guidance that will make fractional interest valuations sound and defensible.
Agenda
• An overview to asset appraisal
• No matter how it’s done, holding assets is a business
• Finding the facts – your key to success
• How risky is it? Welcome to the asset world
• Hold time, the essential but ignored element
• Being persuasive – the real point of the valuation report
• Valuation methods that work
• Case of Ludwick – Why the valuations didn’t work for Judge Halpern, and how it should have gone
• Other cases and many issues.
Learning Objectives
• Learn how fractional interest valuations are similar across asset types and what these similarities mean for the appraiser
• Learn how to identify and quantify elements in fractional interest fact patterns
• Learn the applicability and limitations of discounting models in fractional interest valuations
• Learn which tools are applicable for any complex asset holding company structure
• Learn what the courts and professional groups are saying about fractional interest valuations and where these techniques may be headed
• Learn how to apply, present, and defend the methodologies used in fractional interest valuations
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Despite its utility, the Relief from Royalty method remains a misunderstood and often misused appraisal technique. Though recent intellectual property court battles have brought prominence to the method and its constituent inputs, the underlying confusion generated when putting it to use remains. In this presentation, expert Brent Sloan will show attendees how to implement the Relief from Royalty method in order to arrive at a sound, defensible conclusion of value.
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Colloquially, it’s been said that in the right situations business synergies can result “one plus one equals three.” For the business appraiser tasked with valuing either business or the combination of the two, verifying and quantifying this expression creates a unique set of challenges. In “Valuing Synergies” expert appraisers Jeff Litvak and Brent Miller discuss the identification, quantification, and assessment of synergies, and what every appraiser should know when faced with the difficult task of proving that one plus one does – or does not – equal three.
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Despite their many uses, lattice models remain an often neglected and misused tool in the appraisal process. While variants have introduced new applications – and complexity – as of late, consensus can seem elusive on how best to apply these models in the most traditional sense. In “Lattice Modeling for Equity Solutions” David Dufendach and Candice Bassell (Grant Thornton LLP) discuss how to apply these powerful techniques in assessing equity value. Through a review of lattice models, in general, and equity-based models, in particular, Dufendach and Bassell will show attendees how to apply these techniques properly, to arrive at a sound and defensible conclusion.
AGENDA
- Overview of the uses of lattice models in various valuation engagements
- Equity: valuations and allocations
- Debt
- Hybrid securities
- Types of lattice models
- Equity solutions using lattice models
- Considerations in selecting this type of model
- Situations when it should be used
- Comparison to Black-Scholes
LEARNING OBJECTIVES
- Learn how to build an equity lattice model
- Learn when to select a lattice model and what type of lattice to select
- Learn what inputs are necessary for a lattice model and how to calculate and support them
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Learn to develop an integrated monthly and annual financial model in an interactive, step-by‐step and hands on introductory course that is designed for all financial professionals. After completing the course, students will be equipped with the skills necessary to build a financial model on their own as well as a template for future projects. The course places particular emphasis on:
- Understanding the accounting necessary to construct a financial model;
- Conducting financial analysis to determine the right choices for assumptions;
- Building a model for a mid-sized private business;
- Constructing supporting debt, asset, working capital and tax schedules;
- Understanding interest rate circularity and how to ensure that the balance sheet balances;
- Testing the financial model for errors and tricks for diagnosing the source of errors;
- Learning modelling best practices and Excel shortcuts that save time;
- Conducting sensitivity analysis on assumptions such as growth, gross margin, exchange rate, and working capital turnover; and
- Demonstrating how the financial model may be used as a decision making tool, including for such uses as discounted cash flow valuations, raising capital or bank reporting.
For: Professionals in Valuation, Corporate Finance, Restructuring, Due Diligence, Capital Providers / Lenders, Investment Bankers, Financial Consultants, Entrepreneurs, Accountants, students and prospective financial professionals
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The emergence of recent studies, resources, and scholarship has created something of an evolution to how appraisers understand and implement cost of capital techniques. Despite the age and ubiquity of this valuation tool, new questions are being asked about how best to derive and apply its constituent parts to arrive at a reasonable and defensible conclusion of value. Driving the way are new questions regarding the make-up and application of data resources; the relative validity of CAPM and build-up methods; the relationship of size, liquidity, and other variables; and how to apply these methods in the face of international economic turmoil, fluctuations to previously risk-free benchmarks, and new measures of equity risk.
In the Advanced Workshop on Cost of Capital, BVR welcomes BV hall of famers Kevin Yeanoplos and Ron Seigneur for an in-depth examination of the state of cost of capital determination. Through their intensive, four-hour presentation, Yeanoplos and Seigneur will discuss what every appraiser should know in determining a cost of capital in today’s economy, using all available information, and taking into account current controversies.
The extraction of minerals from beneath the ground is a centuries-old endeavor. Despite its age, the quarry and mining business is still evolving, engaging and developing new technologies, refining existing regulation, and responding to rapid changes in demand for various minerals. In Valuing Quarries & Mines, expert Michael Nowobiliski discusses the classic considerations and emerging trends that are making quarry and mine valuations more complex and challenging than ever. Join him to learn how to best reach a sound and defensible conclusion of value.
In a service-based economy, it can be difficult to place a value on a company whose product is intangible, and whose workforce is possibly its quintessential asset. Though highly common, these businesses carry enough issues relating to goodwill and key-person value to make their valuations a challenge for even the most experienced appraiser. In this webinar, expert appraiser Kevin Yeanoplos joins BVR to discuss the numerous valuation challenges inherent in valuing professional practices, and how best to overcome these obstacles.
Agenda
- General Trends within Professional Practices
- Goodwill Issues Related for Professional Practices
- Standard of Value Issues Related to Professional Practices
- Landmark Cases
- Other Thought Provoking Valuation Concepts Related to Professional Practices
Learning Objectives
- Learn the best practices for valuing a professional practice
- Understand how to spot and overcome common pitfalls in professional practice valuations
- Understand which intangible assets are vital
Why You Should Attend
Despite its widespread use for quantifying intangible assets, the excess earnings method (EEM), or “hybrid” or “formula” approach, remains a challenge for many appraisers. Despite its apparent ubiquity, its full range of applications and proper implementation has created doubt and confusion. In this webinar expert appraiser James Alerding leads listeners through the EEM, its history and its implementation to provide a clear understanding of how to put this valuation tool to best use.
Agenda
- History of the Excess Earnings (Cash Flow) Method
- ARM 34
- RR 68-609
- Arthur Crandall book
- Procedures for the Excess Earnings Method (Traditional)
- Steps included in applying the method
- Should the combined discount or capitalization rate for tangible and intangible assets equal the discount rate for the DCF method?
- The Excess Compensation (Modified Approach) to the Excess Earnings Method
- Application in divorce cases
- How it works
- Relationship to personal goodwill
- Support for the use of this methodology
- Pros and Cons of the Excess Earnings method
Learning Objectives
- Learn the background and history of the Excess Earnings (Cash Flow) Method
- Learn how to apply the EEM in a valuation
- Learn how to test the reasonableness of the EEM
- Learn about the Excess Compensation Modified EEM in divorce cases
- Learn the pros and cons of the EEM
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Control, its allocations, its premiums, and its discounts have been fodder for business appraisal debates since, apparently, the beginning. Behind seemingly simple objective considerations are difficult subjective decisions relating to operations, cash flows, goodwill, and other classic valuation gray areas. In this exclusive webinar BVR welcomes expert appraisers Jim Alerding and Jim Ewart for an in-depth examination at the still-lingering questions regarding control premiums and discounts. From practical valuation experience and landmark and recent court decisions Alerding and Ewart will lead attendees through the how-to’s and watch-out’s of analyzing, assessing, and assigning control.
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Oil and gas production in North America has been growing for rapidly over the past decade, helped, in part, by improved technologies for exploration and extraction. While long ranging debates regarding environmental impacts have been a concern for regulators, it is clear that this rapid growth in oil and gas production is likely to continue, creating a ripple effect in both the economic and regulatory environments in which oil and gas companies operate.
On October 4, BVR welcomes expert appraiser, and oil and gas expert, Richard Miller for a look at the valuation challenges posed by current and projected changes in this, one of the fastest growing segments of the North American economy. Given this growth, valuation opportunities are likely to increase for appraisers in the oil and gas sector. Join Miller to learn where the perils and pitfalls lie, and how best to reach a defensible conclusion of value.
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Learn to develop an integrated monthly and annual financial model in an interactive, step-by‐step and hands on introductory course that is designed for all financial professionals. After completing the course, students will be equipped with the skills necessary to build a financial model on their own as well as a template for future projects. The course places particular emphasis on:
• Building an integrated financial model for a mid-sized private business;
• Conducting financial analysis to determine the right choices for assumptions;
• Understanding the accounting necessary to construct a financial model;
• Constructing supporting debt, asset, working capital and tax schedules;
• Understanding interest rate circularity and how to ensure that the balance sheet balances;
• Testing the financial model for errors and tricks for diagnosing the source of errors;
• Learning modelling best practices and Excel shortcuts that save time;
• Conducting sensitivity analysis on assumptions such as growth, gross margin, exchange rate, and working capital turnover; and
• Demonstrating how the financial model may be used as a decision making tool, including for such uses as discounted cash flow valuations, raising capital or bank reporting.
Click here for more information
Perhaps no valuation technique or method is more misunderstood or underutilized than regression analysis. When ignored it removes a powerful and highly insightful tool from the valuation process, leaving the appraiser attempting to utilize less appropriate methods to accomplish similar results. While its omission may be a result of misunderstanding, an inability to explain and defend its workings, or a lack of awareness of its usefulness, it is a method not to be ignored.
In the “Advanced Workshop on Regression Analysis,” BVR welcomes expert William Kennedy for an intensive four-hour examination of how to apply, analyze, and defend regression analysis throughout the valuation process. Join Kennedy, a Ph.D., former statistics and finance professor, and AICPA BV Hall of Famer, as he explains the theory behind regression analysis, walks attendees through its uses and applications with case studies and live examples, and examines what courts have said about this powerful technique.
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In this special installment of BVR’s Industry Spotlight Series, we relax into summer with a tall, cool, refreshing look at an industry whose products we all know. While many are familiar with the production methods, business models, and distribution goals of wineries and breweries, their valuations involve often complex considerations not readily apparent from the casual observer. Join valuation expert Jim Andersen as he explains the nuances that make these valuations so challenging. Hear from his years of experience performing valuations in northern California’s wine region and enjoy this summer treat from BVR as you quench your training needs and professional curiosity.
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In this exclusive webinar BVR welcomes author and valuation expert Ronald Seaman for an examination of the application of Long-Term Equity Anticipation Securities (LEAPS) in determining Discounts for Lack of Marketability (DLOM). Seaman’s presentation in “LEAPS and the DLOM,” coming hot on the heels of his just-published book of the same title, will address the knowledge and practices of applying LEAPS methodologies. This presentation will also review the results of the fourth LEAPS study, released in 2010 and will cover the DLOM in general, and where it may be headed in today’s economy.
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Goodwill is the appraiser’s oldest friend, most tenacious foil, and the most loyal companion throughout the valuation process. Apart from knowing how to account for it, the appraiser must also know how to apportion it, for it comes in different forms. In this highly-anticipated webinar expert appraisers James Alerding and Stacy Collins discuss the classic considerations in goodwill apportionment. From identifying and assessing goodwill to recognizing how the current economic climate has and will continue to impact this important intangible asset, Alerding and Collins will address what every appraiser needs to know.
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In pass-through entities the valuation community has perhaps its oldest, least resolved, and, some would say, most poorly defined set of challenges. Despite academic studies, exhaustive professional thought, and judicial opinion, there is still a lack of consensus in this critical area of business appraisal. Yet in the face of these challenges, new work continues to push for a solution to the conundrum of pass-through entities.
In “The Pass-Through Premium: A New Perspective on an Old Issue” appraiser Eric Barr presents new thinking on pass-through entity valuation and how the appraisal community can best overcome the long-standing barriers to consensus.
Click here to see the agenda and learning objectives of this webinar.
With small, early revenue streams; often inexperienced management teams; unproven business and product concepts; uncertain capital sources; and – most often – many intangible assets, early stage companies can be a perplexing valuation assignment, at best. Despite these numerous challenges, early stage company valuations have increasingly become a ubiquitous subject of business valuation. In “Early Stage Company Valuation” expert appraiser Mike Pellegrino joins BVR and CICBV to discuss how both these challenges and other, unforeseen obstacles are changing early stage valuation, and what new obstacles every valuator should be aware of when approaching such a firm.
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Learn to develop an integrated monthly and annual financial model in an interactive, step-by‐step and hands on introductory course that is designed for all financial professionals. After completing the course, students will be equipped with the skills necessary to build a financial model on their own as well as a template for future projects.
Click here for more information.
Learn to develop an integrated monthly and annual financial model in an interactive, step-by‐step and hands on introductory course that is designed for all financial professionals. After completing the course, students will be equipped with the skills necessary to build a financial model on their own as well as a template for future projects.
Click here for more information
You would be forgiven for viewing this as the age of the income approach. While increased scrutiny through scholarship and judicial decision have raised the income approach to new prominence, a turbulent economy and tempestuous public markets have caused some appraisers to shy away from the market approach. Yet, as many appraisers know, no valuation is complete without thorough analysis, and market evidence has a way of appearing throughout the valuation process. In short: the market approach is alive, well, and here to stay.
In “Market Approach in Times of Trouble” expert appraisers Robert Schlegel and Linda Trugman join BVR to discuss how the market approach is a more integral part of the valuation process than ever. From knowing how to make sense of the ups and downs of the economy to how market evidence impacts the income approach, Schlegel and Trugman will show how to put the market approach to work.
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Since its first report in August, 2009 the Private Capital Markets Project has created insight, confusion, disagreement, and adulation within the valuation community. Yet out of the claims and responses created to vet the Private Capital Markets Project and its data, consensus and clarity have eluded appraisers.
On March 15 BVR welcomes Private Capital Markets Project lead researcher John Paglia and valuation expert Kevin Yeanoplos for “Point/Counterpoint: Debating the Private Capital Markets Project.” Join these two experts to hear how the Private Capital Markets Project data was procured, how it’s presented, and how it can be put to best use.
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In “Business Valuation Issues in Bankruptcy” BVR welcomes expert appraisers Jeff Risius and Jesse Ultz for an in depth examination of the opportunities and challenges posed by the bankruptcy process. While distressed and bankrupt businesses have made headlines recently, their reorganization and, at times, resurrection have owed a great deal to appraisers working on such issues as asset/collateral valuation matters, shareholder value disputes within the process, and fairness issues related to the valuation of securities. In their 100-minute presentation Risius and Ultz will discuss how to identify these and other valuation opportunities and how the bankruptcy process creates challenges every appraiser should know. Areas to be covered include: adequate protection, claims determination, plan confirmation, and asset recovery issues. Advanced valuation issues that arise in the valuation of distressed companies will be addressed. The presentation will include illustrative hypothetical examples as well as summaries of relevant court cases.
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As intangible assets continue to grow as a portion of company value, revenue, and future wealth creation, so too does the reliance on trade secrets. In this 75-minute program, expert attorney R. Mark Halligan will bring much needed business and valuation clarity to a company’s trade secrets and how the changing nature of our economy has increased their importance.
Mr. Halligan will cover what every IP counsel and business valuation analyst needs to know about trade secrets in the increasingly knowledge-based global economy. This webinar will address how “traditional” valuation techniques can be used to arrive at the stand-alone value of trade secrets and will draw attention to the necessity of improving methods and practices to effectively safeguard a company’s most valuable asset: its trade secrets.
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Recognized as “the nation’s preeminent forum for the determination of disputes” involving private and publicly held businesses, the Delaware Court of Chancery has long been known to appraisers as the source of many of the decisions and guidelines which govern the valuation process. Despite this high standing, much of what is learned from the Chancery is known through the decisions it issues rather than the jurists who author those decisions.
On December 8 BVR & CICBV is pleased to welcome Vice Chancellor Donald F. Parsons Jr. of the Delaware Court of Chancery for a special two-hour roundtable discussion on the Court. With expert appraiser Neil Beaton and attorney Stephen Norman, this panel will address what the court is seeing in valuation, what it expects of attorneys and expert witnesses, and how these practitioners can be most effective in presenting the cases of their clients.
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From farm to table, the food and agriculture industry represents nearly 10 percept of the U.S. GDP and employs over 16.5 million people. As with any industry this large and specialized, the valuation challenges inherent in its constituent businesses are numerous and onerous. In “Valuations in Agribusiness: Food Processing Companies,” the latest installment of BVR’s Industry Spotlight Series, BVR & CICBV welcomes experts Jim Alerding and Ron Nielsen for an in depth examination of the businesses that make up the end of the agribusiness supply chain: food processing companies. Learn the valuation and operational nuances of the companies that turn farm output into market-ready food products in this must-attend webinar.
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Learn to develop an integrated monthly and annual financial model in an interactive, step-by‐step and hands on introductory course that is designed for all financial professionals. After completing the course, students will be equipped with the skills necessary to build a financial model on their own as well as a template for future projects.
Click here to see brochure.
Value Creation is the study of what drives the operations of companies today. In this 75-minute program, acclaimed author Mary Adams, a highly respected intangible asset strategist, brings clarity to the changing nature of our economy and how it has led to the increased importance of intellectual property and intangible assets: in how companies look, how they work and what drives their financial performance.
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In “Asset or Income? Double Dipping in Divorce” expert appraisers Don DeGrazia and Stacy Collins join BVR for an examination of issues related to the double-counting of income and assets in marital dissolution. From knowing how to recognize so-called “double dips” to knowing how to adequately value various business aspects to avoid these issues, DeGrazia and Collins will cover what you need to know when facing a valuation for marital dissolution purposes. This presentation will also feature an overview of how different jurisdictions consider different issues relating to double-dipping.
Click here to see brochure.
Learn to develop an integrated monthly and annual financial model in an interactive, step-by‐step and hands on introductory course that is designed for all financial professionals. After completing the course, students will be equipped with the skills necessary to build a financial model on their own as well as a template for future projects.
Click here to see brochure.
Learn to develop an integrated monthly and annual financial model in an interactive, step-by‐step and hands on introductory course that is designed for all financial professionals. After completing the course, students will be equipped with the skills necessary to build a financial model on their own as well as a template for future projects.
Click here to see the Seminar Brochure
There is no doubt that an accurate and reliable projection greatly aids a valuation for any purpose. Yet questions about management projections and forecasts have long posed challenges for appraisers: How can an appraiser verify the projections validity and accuracy? What is the best use for a projection or forecast once it’s in hand? How can an appraiser best obtain projections? And most importantly, what do you do when a projection or forecast is unreliable or nonexistent?
On May 5th, expert Christine Baker joins BVR for the “Advanced Workshop on Management Forecasts and Projections,” an intensive three-hour event focusing on all aspects of projections, forecasts, and their uses in the valuation process. Through BVR’s exclusive interactive web-workshop format Baker will lead attendees through case-studies, live examples, and tutorials live from her Manhattan offices as attendees participate from anywhere via the internet.
Click here to see the event brochure
Building a Financial Model
Learn to develop an integrated monthly and annual financial model in an interactive, step-by‐step introductory course that is designed for all financial professionals. After completing the course, students will be equipped with the skills necessary to build a financial model on their own as well as a template for future projects.
Click here for a full description of this Seminar event.