Advanced Valuation: Applications and Models Workshop

Consultants' Training Institute
Co-Sponsored by the National Association of Certified Valuators and Analysts® 

Arrow Program Description Arrow What You Will Cover Arrow Dates and Locations
Arrow How You Will Benefit Arrow Who Should Attend Arrow Pricing and CPE

This workshop will take you to a new, advanced level of understanding business valuation and also provide practical tools, data, and models attendees can use immediately in their practice. The workshop is filled with a wealth of details, practice tips, and examples while covering numerous models and methods to assist valuation analysts in navigating valuation engagements. Taught by a team of nationally recognized valuation analysts, the instructors collaborate with attendees to share the most effective valuation procedures and real-world applications in the field of financial valuation. The instructors teach the theory, but also demonstrate how to apply the theory and appropriate models so that attendees can better support their valuation analyses.

How You Will Benefit

After completing this workshop, attendees will be able to:

  • Summarize the new Duff & Phelps Valuation Handbook—Guide to Cost of Capital
  • Prepare a new supportable method and case study for reconciling the use of D&P and Ibbotson®-type data in the Modified Capital Asset Pricing Model and the Build Up Model
  • Identify the Private Cost of Capital Model and the Pepperdine Private Capital Markets Project
  • Identify mistakes in valuation including: discount rates, growth rates, normalization adjustments, Capitalized Cash Flow Method, and Discount Cash Flow Method
  • Recognize the technical accuracy and credibility of a valuation analysis with checklist
  • Recognize a “biased” valuation, including the use of a “bias scorer” checklist
  • Summarize discounts for lack of marketability, including: a new case study, option models, quantitative marketability discount model, restricted stock studies, FMV Opinions restricted stock database, pre- IPO data and studies, a new Mandelbaum-type factor analysis for adjusting a discount for lack of marketability (DLOM), and a primer on the IRS DLOM Job Aid
  • Cite the use of control premiums and minority discounts
  • An update on business valuation standards, along with the use of calculations which includes two up-to-date calculation reports
  • Appraise a supportable simple model for valuing S Corps

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What You Will Cover
Day 1: Advanced Income Approach and Cost of Capital
  • Articulate the various risk analysis models and applications
  • Differentiate between the various Income Approach methods to valuation and data inputs
  • Identify advanced cost of capital techniques and data sources
  • Identify how to avoid making mistakes in the Income Approach
  • Detect bias using a “bias scorer” checklist
  • Develop a process for ensuring technical accuracy
  • Implement a new Excel model for compensation adjustments

Day 2: Advanced Market Approach, Asset Approach, and Discounts and Premiums
  • Calculate and select Market Approach valuation multiples and apply the appropriate level of reliance
  • Identify when to use the Asset Approach
  • Discuss and distinguish between the various studies and data on DLOM, including new research on the uses of DLOM models and data
  • Explain the math and concepts behind control premium/minority discount studies

Day 3: Advanced Issues in S Corps, FLPs, Goodwill in Divorce, Intangible Asset Valuations, Testimony, and Risk Management
  • Articulate issues surrounding tax-affecting, control vs. minority, and S Corp premiums
  • Discuss the issues in Family Limited Partnership (FLP) valuations
  • Employ strategies and techniques for improving practice management
  • Employ various models to value intangible assets
  • Discuss the major issues in divorce, small businesses, and professional practices valuations
  • Demonstrate how to use and write a calculation report

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Who Should Attend

Those who have attended the Business Valuation Certification and Training Center or attended additional, extensive higher-level courses. This is a workshop for seasoned practitioners who practice full time in business valuation and who are in charge of appraisal staff.

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Advanced Valuation: Applications and Models Workshop Faculty



To register, contact Member/Client Services at (800) 677-2009 or NACVA1@NACVA.com.

 
  Early Registration Discounts and Deadlines
Dates Location 10% 5%
November 1–3, 2017 New Orleans, LA 8/31/2017 9/30/2017
December 13–15, 2017 San Diego, CA 10/31/2017 11/30/2017


This course is paperless.  Attendees will be provided a link to course material that will be used during the course, so attendees will need a laptop with Internet access.  The CTI will provide electric power and Internet access, but will not provide laptops.  Attendees are encouraged to bring their own mobile wireless modem or hotspot device.

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Pricing (Before Early Registration Discount) Non-Member Member
Three-day Workshop (24 Hrs CPE) $1,800 $1,620
 

CPE Hours
Delivery Method Group-Live
Program Level Advanced
Advanced Preparation None
Prerequisites Accredited practitioners with good knowledge of topic and experience in the field.
Fields of Study Accounting 5
  Business Law 1
  Economics 2
  Finance 7
  Management Services 5
  Statistics 1
  Taxes 3
Total CPE Hours   24

For more information regarding CPE, Program Levels and Fields of Study please click here.             

Advanced Discounts and Premiums Self-Study Course
The Advanced Discounts and Premiums self-study course provides an elemental review of the currently accepted theory underlying the application of discounts and premiums as discussed in the Business Valuation Certification and Training Center. This elemental review then turns to a detailed analysis of recent and current developments affecting the proper use and measurement of discounts and premiums. The developments addressed within the course include cuttingedge theoretical advancements set forth by some of the profession's brightest, including, among others, Mercer, Abbott, Pearson, Longstaff, Bajaj, and Hall. Optional CPE exam qualifies for 11 QAS CPE credits. Click here for more information or to purchase.

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