NEBRASKA SOCIETY OF
Certified Public Accountants
SERVING NEBRASKA AND ITS CPAS SINCE 1928
Ron Seigneur's Business Valuation Update - IN PERSON ATTENDANCE (Cosponsored with the Iowa Society of CPAs)
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Online Registration Form

Date: June 26, 2019
Location: Iowa Society Enrichment Center, 1415 28th Street, Suite 450, Century II Building, West Des Moines, I
Course Time: 10:00 AM - 4:00 PM
Summary
Ron Seigneur is a recognized leader, educator and innovator in the valuation field. Join this webcast on June 26 to get the latest updates in the area of business valuation.
Objectives
To provide an update on current issues in business valuation
Highlights
This segment will focus on a number of the building blocks to cost of capital. The topics covered will include: * Blocking and Tackling: Revisiting the fundamentals * A deep dive into the new BVRs Cost of Capital Professional * Size premiums and weighted average cost of capital * Developing a framework for expressions of unsystematic risk * Views from the bench - perspectives of the Delaware Chancery Court Personal vs. enterprise goodwill-The devil is in the details: This segment will explore the current environment for segregating goodwill between personal or professional component on one end, and the enterprise or practice goodwill on the other. A respected business appraiser will offer three distinct approaches used by practitioners to allocate measured goodwill, while a seasoned family law attorney will critique the pros and cons of each approach. The topics covered include: * Gain an enhanced understanding of how business appraisers approach the challenge of segregating goodwill when it is required * Explore the strengths and weaknesses of: * The multi-period excess earnings method * The multi utility method (MUM) * The specific component method Reasonable compensation for owner-employees: This segment will focus on how analysts can enhance their analysis and opinions with respect to owner-employee compensation. This issue often arises in the context of normalizing financial activity for closely-held businesses. * The strengths and weaknesses of the Multi-factor Test and the Independent Investor Test * Landmark case law that will provide valuable guidance * Useful market databases and related resource Seigneur's five-minute drill: This fast-paced session will touch on up to 15 separate issues, challenges and conundrums related to valuation and damages work. The topics covered will include: * Report writing - Are calculation reports a good or bad thing and when should they be used? How to improve writing and drafting skills within staff. Where things should be located within the well drafted report. Enhancing reports with graphs and pictures. Discoverable drafts: how to play around this. * Discounts - 65 methods and models to derive DLOMs and counting! Using an expanded Mandelbaum model to support DLOM determinations. Is 35% the right starting point? Focusing on holding period and volatility. Applying a DLOM to a control benefit stream. * The Income method - Comparing the DCF method to the CCF method: It's all future benefits! Finding the proper weighting scheme for prior period benefit streams. Finding and supporting the proper growth rate(s). Normalization adjustments: One of the big three! Adjusting the discount rate for pass-through entities (Fannon/Sellers work). Are size premiums still applicable? * Overtime - International cost of capital: where to look and why it's important. Discount rates for lost profits analyses. Transactional data: what used to be simple is now complex. Marketing, managing and making money in BVFLS services: This segment will provide attendees with an opportunity to give thought to a number of tactics and techniques to optimize practice management and improve productivity and profits. Ron will offer a number of ideas from his own BVFLS practice, together with lessons learned from some of the professionals he has provided consulting support to over the years. The session will highlight a number of key areas, including: * Managing the RULES and SCORE * Understanding attributes that assist in retaining quality, tenured staff and what chases them away * Considerations for a smooth exit * Marketing musts * Engagement letters: retainers, time lines, responsibilities and beyond
Who Should Attend
CPAs and other business professionals involved in business valuations.

Course Level Update
Prerequisites None
Course IDBV
Discussion LeaderRon Seigneur, CPA/ABV, ASA, CVA
CPE Credit6
Additional Information: BONUS: Receive a $70 discount by attending this course AND the 8-9:40 a.m. session Emerging Issues in the Cannabis Industry. Materials will be available as a PDF 3-5 days prior to the seminar.
Fee: $225 - Society Member
$325 - Society Nonmember
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