Valuation for Financial Reporting Workshop Program Sponsor: Consultants’ Training Institute
Focus
As “Fair Value” becomes an integral part of financial reporting, financial professionals must develop skills to understand and implement the new accounting standards. This course* will be co-taught by two experienced valuation practitioners utilizing a case-study format. The three-day program will cover the new definition of fair value provided in SFAS 157, allocation of purchase price under SFAS 141, the impact of SFAS 141(R) on purchase price allocations, impairment testing under SFAS 142/144, and the valuation of options under SFAS 123(R).
Details
What You Will Learn
Attendees will acquire practical training in the following areas:
• Understanding the Financial Accounting Standards Board’s (FASB) concept of fair value
The FASB concluded that fair value information is relevant and users of financial statements generally have agreed. Others, however, have expressed concerns about the ability to apply the fair value measurement objective in GAAP. The workshop will examine FASB pronouncements that require fair value measurements and guidance differences that have created inconsistencies related to the complexities in GAAP.
• Guidance in working with the auditors
Auditors often have their own unique and often contradictory interpretations of SFAS 157 (and 141(R) and 142). This opens the possibility that each might look for different weaknesses when they see a fair value report. The workshop will discuss standards and methods for fair value, along with other financial reporting engagements, including current trends and developments.
• Techniques for identifying and methods for valuing
intangible assets
Participants will be exposed to a broad spectrum of techniques for identifying and methods of valuing intangible assets and intellectual property covering business reporting and litigation arenas. Several case studies and redacted reports will demonstrate and reinforce the concepts involved.
• Commonly accepted methods of testing for impairment
Valuation professionals are often requested to test intangibles for impairment pursuant to SFAS 142 and 144. Many issues involved with these analyses are rarely discussed. Attendees will gain insight into how to deal with these issues and common mistakes to avoid.
• Considerations for estimating useful lives
The workshop will provide guidance on the determination of the
useful life of intangible assets. Areas to be discussed include expected cash flows used to measure the fair value of the asset,
the weighted-average period to the next renewal, an entity’s
history of renewal for similar assets, changes in the likelihood
of renewal or extension, and amounts incurred to renew or
extend the contractual term of an intangible asset.
• Appropriate methodologies for valuing employee stock options
Attendees will learn the variables that are used to calculate the fair value of ESOs. The workshop will discuss how changes in
the required variables drive ESOs’ fair value and the resulting effect on total compensation expense. Record-keeping respon-sibilities, modeling resources and data requirements, and Lattice and Black-Scholes option-pricing models will also be reviewed.
Development and Instruction Team
This course was created and is
taught by Alfred M. King, AB, MBA, CMA, CFM and Warren D.
Miller, CFA, ASA, CMA, CPA. Mr. King is presently vice chairman
and a director of Marshall & Stevens and was formerly managing
director with the Institute of Management Accountants. His areas
of expertise include litigation support, valuation of
intangible/intellectual assets, business valuations, solvency
and reasonable equivalent value issues, valuation issues
relating to domestic and international taxes and financial
reporting, and complex allocation-of-purchase-cost assignments,
including retrospective studies. In his career to date, Mr. King
has personally apprised over $100 billion of assets. Mr. Miller
is a co-founder of BECKMILL RESEARCH, LLC, which limits its work
to value maps, M&A, litigation support (e.g., divorce, damages,
dissenting share-holder), valuation (financial reporting, tax
private equity, IP, litigation support, value-based management,
business planning), strategy (strengthening capabilities, market
positioning, diversification), exit planning, and
statistics-driven research (e.g., customer loyalty surveys,
stand-alone public-comps analysis). His firm also specializes in
valuation for financial reporting under SFAS 123R, 141, 142, and
144. Mr. Miller is a Continuing Professional Education
instructor for CPAs/CAs in 30 states, Puerto Rico, and Canada.
Who Should Attend
Any experienced practitioner who wants to broaden his or her
practice to provide valuation services for financial reporting,
transaction attorneys, M&A advisors, and CFOs.
Where and When
October 25-27
Washington, DC
December 6-8
Las Vegas, NV
Pricing 2010
2010 Package Pricing (Before early
registration discounts.)...........Non-Member.............Member
Three-day
Workshop...................................................$1,800..................$1,620
NASBA Sponsorship
NACVA 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. Web site: http://www.nasba.org/