7:45-8:00am
Welcome and Opening Remarks
8:00-8:50am
Business Valuations: What Does Warren Buffet Say?
Michael Carter – Founder and CEO, BizEquity
According to the SBA Office of Advocacy, there are almost 30 million small businesses in
the U.S., with CNBC estimating that a third of these will embark on the sales process in
the next 15 years. Despite this huge market opportunity, there are only 7,800 certified
valuation professionals in the U.S. according to the NACVA. In this session we will provide
an overview of how a current business value should form the basis of any informed decision
regarding expansion, and succession planning and achieving maximum value upon exit.
8:50-10:05am
How the Tax Act Impacts Valuations
Donald J. DeGrazia, CPA/ABV/CFF – Gold Gerstein Group LLC
The Tax Cuts and Jobs Act is having a significant impact on how practitioners are
conducting valuations. Learn the changes to the tax law that are impacting valuations and
discover new methods for approaching and applying these changes.
10:05-10:20am
Morning Break
10:20-11:10am
Valuation and Financial Considerations for Craft Breweries.
Derek Groff, ASA, CFE – Moss Adams
There are several key factors involved in determining the value of a brewery.
Learn the primary financial and valuation drivers in the beer industry as well as understand
how different liquidity events may impact a brewery’s value.
- Craft beer industry overview
- Beer Valuation 101
- Key valuation drivers
- Understanding different types of liquidity events and their impact on valuation
- Breweries and the M&A process
- What’s next for the beer industry?
11:10am-12:25pm
Avoiding Valuation Surprises in Accounting for M&A Transactions – Top 10 Issues
PJ Patel, CFA, ASA & Ed Hamilton, CFA - Valuation Research Corporation (VRC)
There are a number of key valuation issues that need to be addressed in accounting for M&A
transactions. PJ Patel of Valuation Research Corporation will discuss the various valuation
issues that deal teams, tax and accounting groups need to identify and address in accounting
for an M&A transaction
- Determining the purchase price considering deal structure and components of the
consideration paid
- Identifying the assets and liabilities acquired and what needs to be valued
- Reviewing recently updated best practices in valuing inventory, deferred revenue and
customer assets
- Understanding the current environment - scrutiny from senior management, auditors,
the SEC, PCAOB and other stakeholders
12:25-1:10pm
Lunch
1:10-2pm
Determining Marketability of a Company by Utilizing Regression Analysis Techniques
Todd Povlich, CFA, ASA – Management Planning Inc.
One of the most important components of any business valuation involving a closely held
company is the adjustment typically necessary for lack of marketability.
MPI partner Todd Povlich will discuss the firm’s latest marketability discount study,
which is built on over 2,000 private placement transactions spanning 30 years and contains a
multiple regression model that explains a substantial portion of the variation in discounts
as a function of nine company, market and transaction specific factors.
2-2:50pm
Bankruptcy, Litigation and Uncovering the Fraud
Anthony R. Calascibetta, CPA – EisnerAmper LLP
David H. Stein, Esq. – Wilentz, Goldman & Spitzer, P.A.
This program will cover the different forms of bankruptcy, the role of a trustee or
fiduciary in finding and recovering assets, the role of an accountant in the context of
the investigation and detecting the nature and extent of a fraud in a financially troubled
business.
2:50-3:10pm
Afternoon Break
3:10-4pm
Bitcoin’s Role in FVS
Christopher M. DeMayo, CPA, MBA – WithumSmith+Brown, PC
The inception and evolution of Bitcoin (aka “Crypto Currency”) and the Blockchain (a
vehicle for crypto-currency transactions) has been one of the most interesting and
controversial financial and technological developments in recent history, yet many business
people and their advisors have only a limited understanding of this trend and its
implications. CPA and MBA Chris DeMayo has been following these issues closely since their
beginning in his role as leader of the Technology Services Group at WithumSmith+Brown, a
professional services firm at the forefront of technology advisory services. He will
explore the history of Bitcoin, how it works, when and why it is used and how it might
impact you and your clients. We’ll connect the dots between what CPAs following this trend
believe it means for the future.