This annual conference is the best way to build broad expertise in valuations and litigation support and stay current on developments impacting your services. Gain the know how to produce accurate, thorough and meaningful results for clients.
CPAs, attorneys, business valuation experts, forensic accountants, appraisers and other financial professionals.
The Shape of Things to Come
G. Scott Clemons, CFA - Brown Brothers Harriman & Co.
As the U.S. emerges from the COVID-19 pandemic, the big questions are how and when the fundamental drivers of economic activity will heal, and what the lasting impacts of the recession will be for fiscal and monetary policy, the labor market, inflation and interest rates. Join us as we consider how all of these moving parts might affect financial markets, investors, and businesses.
Reasonable Compensation for a Physician Practice
Mark Dietrich, CPA, ABV, MBA, MST
Health systems, hospitals and valuators often mistakenly rely on the “survey says” method of determining fair market or replacement compensation for physician services. All such surveys lack any inferential statistical validity because they are comprised of data points from voluntary submission by primarily health system employed doctors, rather than a valid random sample designed to capture all physicians in the marketplace, including private practice physicians. Valuators are generally concerned with reasonable compensation in a private practice, whether for marital dissolution, purchase or sale, or damages – not how much a hospital or health system employee earns.
The health insurance system – i.e., the marketplace of fair market value - almost uniformly determines the value of physician services using the Resource Based Relative Value Scale or RBRVS. This common dataset can be easily obtained from the Medicare program and used to calculate the value of physician work. This session will tell you where to find the data and how to use it.
Gift and Estate Tax Valuation Update
Barry Sziklay, CPA, ABV, CFF, PFS - Friedman LLP
- Review of important 2021 gift and estate tax valuation cases
- Adequate disclosure requirements for gifts
- Chapter 14 valuation requirements
- IRS valuation challenges
- Transfer pricing and IRC Section 482, OECD initiatives and U.S. position
- Latest White House and Congressional transfer tax proposals
11:25 a.m.-12:15 p.m.
Michelle Gallagher and Jerome Johnson
Details coming soon
Valuing Cannabis 2.0: Buckle up, this is about to get interesting!
Ron Seigneur, MBA, CPA/ABV, ASA, CVA - Seigneur Gustafson LLP and Stacey Udell, CPA/ABV/CFF, CVA - HBK Valuation Group
The session will explore the unique nuances associated with the cannabis industry, including business and intellectual property appraisal challenges. Finding and applying market-based metrics in a rapidly evolving landscape will be contrasted with the use of forward-looking projections under an income approach to value. Jurisdictions like Colorado, Oregon and Washington are now considered to represent established markets versus emerging markets like Michigan, New Jersey and Florida where some are paying premium prices today for potential future opportunity. Lessons learned from Colorado will be highlighted. The session will also briefly explore the challenges of IRC 280E and where to find industry data and resources.
Special Purpose Acquisition Companies – SPAC: What they are and how they work
Neil Beaton, CPA, CFA, ASA, CFF, ABV - Alvarez & Marsal Valuation Services, LLC
Special Purpose Acquisition Companies (“SPACs”) have been all the rage in 2020 and 2021. But what is a SPAC and why are they proliferating now? This session explains the origins of SPACs, how they operate, why they have become so popular as of late and what valuation ramifications have arisen due to their proliferation. SPACs generate the need for numerous valuation inputs from stock option grants leading up to the listing to valuing warrants and earnouts after the listing. This session briefly covers SPACs from inception to full public filing.
Expert Witness Testimony Panel
Moderator: Don DeGrazia, CPA/ABV/CFF - Gold Gersetein Group LLC
Charles M. Rand, JSC (Ret.)
Ron Seigneur, MBA, CPA/ABV, ASA, CVA - Seigneur Gustafson LLP
Frequently the final phase of a valuation engagement involves court testimony as an expert witness. The valuation opinions contained within an exceptional report may not carry the day if expressed by weak or ineffective expert testimony. Assisting the Court in resolving disputes requires credible testimony by believable witness that are advocating their opinion, not their client’s position. Learn reliable testimony technique in a panel discussion involving experienced expert witnesses and a retired New Jersey Superior Court judge including the following topics:
- How to maintain credibility in the eyes of the Trier of Fact
- How best to answer questions posed by the cross-examiner
- Adjectives, absolutes and superlatives can come back to haunt you
- Is it your job to educate the cross examining attorney?