| The Sanity Check—Hypothetical Willing Buyer and Willing Seller Test
Program Type: Recorded Webinar(Audio, PPT Presentation)
Program Level: Overview
Prerequisites: Learning activity level that provides a general review of a subject area from a broad perspective.
Advanced Preparation: Average understanding of Excel and WordAverage business valuation experience and knowledge; basic understanding of the capital markets.
Delivery Method: Group Internet-Based
CPE Credits: One (1) Hour
Fields of Study: Accounting
Shipping Weight: 0lbs. 0oz.
A methodology to validate 100% marketable interest value using 14 tests to obtain and repay financing using current market leverage multiples/ratios along with testing the reasonableness of both goodwill value and the conclusion of value against market benchmarks. The webinar will take the participant through the methodology step by step including edits that may occur in the conclusion of value to achieve one or more of the test criteria. Vetted in the United States District Court NW District of Ohio Western Division. This methodology is not used to validate DLOC, DLOM, or value of minority interests. Excel spreadsheets and report section provided to participants.
After completing this webinar, attendees will be able to:
- Utilize the Sanity Check, a hypothetical willing buyer and willing seller test to validate the analyst’s conclusion of value of a 100% controlling interest on a marketable, controlling interest basis
- Test conclusion of value using current market data and capital access criteria
- Formulate, if necessary, discount rates, benefit streams, weights, and other valuation factors that require professional judgment or ranges to synthesize the conclusion of value
- Express the conclusion of value in court using understandable capital market criteria
- Apply an aspect of independent capital market reality check to a theoretical process
Who Should Attend
Valuation analysts, valuation reviewers, attorneys, CPAs
Mr. Garth Tebar is Founder and Managing Member of Value Defined and Senior Managing Director of Valuations of Headwaters SC. NACVA Instructor for Certification Program, Current Update in Valuations, author/presenter of Fundamentals in Calculating Damages in Personal Injury Cases, co-author/presenter of Don't Double Dip on Risk Adjustments and author/presenter of Personal Goodwill and Normalized Adjustments. Has spoke at several NACVA National Conferences, presented FT&T to the IRS, SBA and Korean Valuation Association, presenter at ASA Regional Conference, presenter for BVR, panelist for series developed by Financial Poise and Thomson Reuters and various other presentations. Serves on the MPPA Advisory Board at Ohio Northern University and appointed by Governor Strickland to the Executive Order of the Ohio Commodore. Recognitions and past professional boards/committees include NACVA Member of the Year (2006), Pepperdine University Certificate in Private Capital Markets, and numerous others.
Jill Ellen R. Christopher
Ms. Jill Christopher is the James F. Dicke Professor of Accounting at Ohio Northern University in Ada, Ohio. She earned a Bachelor's Degree in Business Administration from Ohio Northern University; a Master of Accountancy from Case-Western University; and a Doctor of Business Administration (Accounting) from Cleveland State University. Dr. Christopher is a Certified Public Accountant licensed in Ohio, a Certified Valuation Analyst, and a Certified Fraud Examiner. She has 28 years of experience in higher education, following positions in public accounting and corporate controllership. She has been designed a master teacher, and has been awarded a number of honors based on excellence in teaching, including an endowed professorship. Dr. Christopher's teaching is complemented by her published pedagogical research, which has appeared predominantly in peer-reviewed academic journals.