Sessions For All Days

04

Monday
1:15PM-2:05PM

FVC1901. Economic Keynote

Instructor: Todd Buchholz
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Economics
CPE Credits: 1.0

We will assess the current and future path of the economy, with a focus on the interaction of global monetary policy, trade policy, and politics. We will also address the impact of demographics on government financing and the opportunities and risks in financial markets.
Learning Objectives:

  1. Discover how demographics, technology, and globalization are re-shaping the economy
  2. Identify the signs of economic rallies, and the warning signs of slumps
  3. Identify the political pressures on trade, debt, and interest rates from the U.S. to the E.U. to China

04

Monday
2:35PM-3:50PM

FVC1902. Forensic ABCs-The Building Blocks of Successful Case Management

Instructor: Annette Stalker, Jolene Fraser
Career Stage: The Self Starter
Knowledge Level: Beginner
Field of Study: Accounting
CPE Credits: 1.5

No two litigation or forensic accounting engagements are the same. They often have multiple parties, varied allegations, possible counter-claims and a number of different financial issues. Having a methodical approach and well-structured organization will make it easier for you and your staff to quickly locate key records and maintain consistency across case files. Ultimately, you will be better-prepared for communication within your team the clients, as well as the final reporting and testimony. Participants in this session will be equipped to:
Learning Objectives:

  1. Create an efficient structure for organizing key elements of every case
  2. Successfully plan and perform each phase of the engagement
  3. Effectively communicate with internal and external resources throughout the engagement

04

Monday
2:35PM-3:50PM

FVC1905. Lessons Appraisers Need to Know from Recent Delaware Valuation Cases

Instructor: Gilbert Matthews
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Accounting
CPE Credits: 1.5

In the past four years, the Delaware Supreme Court has issued several major opinions that addressed transaction-related corporate valuations. The presentation will discuss these opinions, as well as numerous valuation-related Court of Chancery in the same period. It will contrast the Delaware courts’ views on arm’s-length transactions vs. related party transactions and will discuss the impact of those view on statutory appraisals. It will also discuss the courts’ views on valuation methods, with a focus on inputs into DCF calculations.
Learning Objectives:

  1. Help valuators understand the impact of Delaware law on valuations and fairness opinions
  2. Assist valuators in preparing for expert testimony

04

Monday
4:00PM-5:15PM

FVC1908. Financial Statement Analysis: What It Means

Instructor: Michael Haugen, Bethany Hearn
Career Stage: The Self Starter
Knowledge Level: Beginner
Field of Study: Accounting
CPE Credits: 1.5

Whether searching for red flags at the start of a fraud risk assessment or evaluating financial condition for the purpose of a business valuation, financial statement analysis is a cornerstone of most any forensic or valuation assignment. This course will utilize an interactive case study to illustrate comprehensive financial statement analysis, focusing not only on how to complete relevant calculations but also how to interpret them. Participants will be guided through how to measure key metrics and then, in small groups, will utilize a Microsoft Excel template to conduct their own analysis and share their findings with the class.

After attending this course attendees will be better able to:
Learning Objectives:

  1. Prepare a comprehensive financial statement analysis, including identifying trends, key strengths and weaknesses, and/or red flags of a business’s financial condition;.
  2. Calculate internal liquidity ratios, operating efficiency and profitability metrics, business risk factors, and financial risk indicators;
  3. Articulate the meaning behind the numbers, combining qualitative and quantitative aspects of a business to interpret the data

04

Monday
4:00PM-5:15PM

FVC1911. Cautionary Tales of Valuation Adjustments & Potential Forensic Implications in Legal Proceedings

Instructor: Karolina Calhoun
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Accounting
CPE Credits: 1.5

Valuations of a closely held business in the context of litigation such as in a contentious divorce, shareholder dispute, damages matter or other litigated corporate matter can be multifaceted and may require additional forensic investigative scrutiny. As such, it is important to consider the potential forensic implications of valuation adjustments as they may lead to other analyses. For example, in a divorce business appraisal, a valuation adjustment for discretionary (personal) expenses may, in turn, provide an implied “true income” and pay ability of a spouse. In a dissenting shareholder matter, a valuation adjustment to true-up margins for variations in expenses not consistent with the industry/peers may insinuate dissipation of business assets and require further forensic investigations. These are but two examples - this session will address other examples you will likely face.
Learning Objectives:

  1. Evaluate financial statement adjustments and corresponding implications
  2. Interpret the need for forensic services as a result of valuation adjustments, such as tracing services, income determination, and other analyses.

04

Monday
5:25PM-6:15PM

FVC1914. Financial Statement Analysis: Forecasting & Macroeconomics

Instructor: Michael Haugen, Timothy Gillihan
Career Stage: The Self Starter
Knowledge Level: Beginner
Field of Study: Accounting
CPE Credits: 1.0

In measuring economic damages, or in assessing business value, the economic environment within which a business operates is commonly a key factor. As economic conditions change, so too may expectations of a business’s future financial performance. This course will introduce core macroeconomic principals and resources to consider in assessing, or defending, the reasonableness of your projections.
Learning Objectives:

  1. Identify and explain economic cycles and their commonly associated business conditions;
  2. Describe the impact of monetary and fiscal policy on business lifecycles and cost of capital;
  3. Evaluate and differentiate the impact of national versus local economic conditions on a business

04

Monday
5:25PM-6:15PM

FVC1916. Communicating Complex Financial Topics

Instructor: Jeffery Tarbell, Chris Mercer
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Accounting, Communications and Marketing
CPE Credits: 1.0

As financial analysts and experts we are often required to explain complex financial topics to the lay-person; whether a judge, a jury, or even our client. This session will provide helpful techniques to improve your ability to communicate effectively and persuasively with an audience that may not share your unique knowledge and experience with a complex topic. Specific techniques covered will include ______________________ and effective use of visual aids.
Learning Objectives:

  1. Identify your audience and their pre-existing knowledge.
  2. Choose visual presentation methods suitable to your audience and your data.
  3. Differentiate between core and unnecessary information.

04

Monday
5:25PM-6:15PM

FVC1918. Personal Goodwill - What is important and What is New

Instructor: James Alerding
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Accounting
CPE Credits: 1.0

Personal goodwill continues to be a popular topic for business valuation professionals. While it is primarily used in divorce situations, it has other implications such as tax transactions. This presentation will delve into the three components of goodwill as well as discuss related topics. Case law in this area continues to expand and will also be discussed in the presentation
Learning Objectives:

  1. The participant will learn the definitions of goodwill
  2. Recall the three components of goodwill and how they are applied in practice
  3. Recognize methods of allocation goodwill among its components
  4. Recall important case law in the area of goodwill and its components, including new cases

04

Monday
5:25PM-6:15PM

FVC1919. SSFS 1 - The New Forensic Standards (Repeated in Session 39)

Instructor: Michael Fahlman, Jason Flemmons, Annette Stalker
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Accounting
CPE Credits: 1.0

The session will provide a deeper dive into the new SSFS 1 set to roll out in 2020. Speakers will provide practitioners with the tools to know when to apply SSFS 1, how to deal with cross examination and deposition questions regarding the requirements of SSFS 1, how to testify in a fraud case under SSFS 1, and discuss some of the common questions and FAQs about SSFS 1 during the exposure period.
Learning Objectives:

  1. Apply SSFS 1
  2. Recall SSFS 1 deposition & cross examination implications
  3. Testify in a fraud case under SSFS 1

05

Tuesday
7:00AM-7:50AM

FVC19201. FVS Forum: What's New For You?

Instructor: Travis Armstrong, Travis Chamberlain, David Duffus, William Fellows
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Update
Field of Study: Accounting
CPE Credits: 1.0

Identify new non-authoritative guidance that has been added to the library in 2019

Learning Objectives:

  1. Distinguish what has changed and why
  2. Recall how these changes may affect you and your practice

05

Tuesday
8:25AM-9:40AM

FVC1920. Our Automated Future: Learning to Adapt - and Thrive- in the Era of Intelligent Machines

Instructor: Ajay Agrawal
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Update
Field of Study: Information Technology
CPE Credits: 1.5

Artificial intelligence has been with us for decades. But today’s machines are gaining the ability to learn from data and make sophisticated predictions—more cheaply, and more accurately, than human beings. Like the advent of the Internet and the dot-com explosion, machine learning is set to affect foundational changes to our lives (think driverless cars—but that’s just the beginning). From navigation to the Internet of Things, manufacturing to agriculture, health care to the robotic workers set to replace even top-level positions, deep learning will open as many doors as it will close. And to understand these shifts, experts turn to Ajay Agrawal. A leading authority in AI, the co-author of Prediction Machines—and, as a business speaker, a great explainer of complex economic forces—he translates the sweeping power of machines and breaks down why it all matters. How can we take advantage of the growing market for AI? How can we allocate capital and investments today to best prepare for tomorrow? How do we prepare for the disruptions—to long-standing industries, to millions of jobs, and to age-old notions about work, employment, and leisure—that will result? No matter who you are or where you work—a company, an investor, a university or government—Agrawal will help you adapt, and thrive, throughout this economy-wide transformation

05

Tuesday
10:10AM-11:25AM

FVC1921. Introduction to Valuation Methodologies

Instructor: Gary Trugman
Career Stage: The Self Starter
Knowledge Level: Beginner
Field of Study: Accounting
CPE Credits: 1.5

This session will discuss the various methods available to a valuer under all three approaches to value
Learning Objectives:

  1. Recall the different methods under each approach to value
  2. Select when to use each method
  3. Indicate the advantages and disadvantages of each method

05

Tuesday
11:35AM-12:50PM

FVC1927. Following the facts and developing insights: A forensic accounting primer

Instructor: Meaghan Schmidt, Brian Jenkins
Career Stage: The Self Starter
Knowledge Level: Beginner
Field of Study: Accounting
CPE Credits: 1.5

In this session we will describe the fundamentals of forensic accounting and related investigations. Using real-life examples we will explore fraud schemes, methods of concealment and how forensic accounting can help answer questions such as who, what, when, where, why and how.
Learning Objectives:

  1. Describe the fundamentals of forensic accounting and related investigations
  2. Provide an understanding of the depth and breadth of forensic accounting engagements

05

Tuesday
1:50PM-2:40PM

FVC1933. Data Analytics Progression Part 1: How to Trust Your Data

Instructor: Paul Kirk
Career Stage: The Self Starter
Knowledge Level: Beginner
Field of Study: Accounting, Computer Software & Applications
CPE Credits: 1.0

This session will provide the key element for all data analytics projects - good data! Through a recognized data analytics methodology, learn techniques to validate your data for completeness and accuracy and that is critical for all forensic engagements.

05

Tuesday
1:50PM-2:40PM

FVC1936. Regulatory Update: Valuation Implications Resulting from Rev Rec, Leasing and other Accounting Standards

Instructor: Paul Balynsky, Adam Smith
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Accounting
CPE Credits: 1.0
CEIV CPE/CPD Credits: 1.0

This session will provide an overview of recent accounting standard-setting activities impacting the business valuation profession. We will also discuss active projects on the FASB agenda and how those might impact the profession going forward.
Learning Objectives:

  1. Recall the concepts behind recent standards from the FASB including revenue recognition and leasing.
  2. Recognize how business valuation professionals are considering these new standards in practice.
  3. Recall future standard-setting activities of the FASB.

05

Tuesday
1:50PM-2:40PM

FVC1937. How to Groom and Mentor your Future FLVS Leaders of the Future - Dual Perspectives

Instructor: Hubert Klein, Karolina Calhoun
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Business Management & Organization
CPE Credits: 1.0

This session is for all levels, geared towards narrowing the gap between seasoned practitioners and the NexGen leaders of our professional industry. Real life examples and techniques will be discussed on how to train, motivate and retain team members from staff to management-level FVS professionals. The session will help seasoned practitioners to understand and become aware of the challenges in grooming and retaining [young] professionals. Staff turnover hurts an organization in the long run. How to train your staff so they can leave but manage them so they don't want to is the goal. People are a firm's #1 resource.
Learning Objectives:

  1. Identify issues encountered with motivating and retaining qualified leaders for the future;
  2. Recognize the techniques that can be used to provide transparency for future; and
  3. Develop action plans to improve employee morale, loyalty and professional development.

05

Tuesday
3:10PM-4:00PM

FVC1939. SSFS 1 - The New Forensic Standards (Repeat of Session 19)

Instructor: Michael Fahlman, Jason Flemmons, Annette Stalker
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Accounting
CPE Credits: 1.0

The session will provide a deeper dive into the new SSFS 1 set to roll out in 2020. Speakers will provide practitioners with the tools to know when to apply SSFS 1, how to deal with cross examination and deposition questions regarding the requirements of SSFS 1, how to testify in a fraud case under SSFS 1, and discuss some of the common questions and FAQs about SSFS 1 during the exposure period.
Learning Objectives:

  1. Apply SSFS 1
  2. Recall SSFS 1 deposition & cross examination implications
  3. Testify in a fraud case under SSFS 1

05

Tuesday
3:10PM-4:00PM

FVC1942. Practice Management: How to Manage a Forensic/Valuation Practice in a Traditional Accounting Firm

Instructor: Kenneth Degraw, Hubert Klein, Elizabeth Z. Woodward
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Business Management & Organization
CPE Credits: 1.0
Canadian flag

Panel will discuss best practices for developing, growing, and maintaining a forensic/valuation practice within a traditional accounting firm. Financial, marketing, and human resources metrics and resources will be discussed.
Learning Objectives:

  1. Identify best, and worst, practices implemented by traditional accounting firms.
  2. Learn how to improve your practice, whatever its current stage/condition.

05

Tuesday
4:10PM-5:25PM

FVC1945. Forensic and Valuation Services in a Global Economy

Instructor: Peter Armstrong, Mark L. Zyla
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Accounting
CPE Credits: 1.5
Canadian flag

We will be discussing some of the changes and impacts on forensic and valuation professionals of the progression to a more global integrated environment for professionals.
Learning Objectives:

  1. Understand changes that are occurring at the AICPA and globally that are and may impact members
  2. Identify the opportunities, risks and challenges that members may face in an increasingly global economy.

05

Tuesday
4:10PM-5:25PM

FVC1946. PCAOB/SEC Update

Instructor: Alison Staloch, George Wilfert
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Update
Field of Study: Accounting
CPE Credits: 1.5
CEIV CPE/CPD Credits: 1.5

Session description to come

06

Wednesday
7:30AM-8:45AM

FVC1947. Get to the Point - How to Write Clear and Concise Valuation Reports

Instructor: Jeffery Tarbell, Katie Holtgrave
Career Stage: The Self Starter
Knowledge Level: Beginner
Field of Study: Accounting
CPE Credits: 1.5

This session will discuss techniques and best practices for conveying report findings in a logical, effective, and easy to understand manner.
Attendees will leave with tips and techniques as to best practices, language usage, and readability when writing valuation and litigation reports.
Learning Objectives:

  1. Attendees will leave with tips and techniques as to best practices, language usage,
  2. Attendees will have readability when writing valuation and litigation reports.

06

Wednesday
8:55AM-10:10AM

FVC1952. Economic Damages - The Building Blocks

Instructor: David Duffus, Alex Walther
Career Stage: The Self Starter
Knowledge Level: Beginner
Field of Study: Accounting
CPE Credits: 1.5

This session will focus on the various components that are often utilized when building economic damage models. Developing credible economic damage models is a complex exercise with a number of components including, but not limited to, historical financial information, projected financial information, industry research, market research, case law, and much more. This session will explore the various components utilized in economic damage models and help the practitioner better understand how the various pieces of an economic damages puzzle can come together to form a credible model.
Learning Objectives:

  1. Recall the legal elements a party must prove
  2. Recognize what makes a damages model reliable and believable
  3. Identify the potential financial research used to build a formidable model
  4. Estimate or forecast what is inherently unknown

06

Wednesday
10:30AM-11:45AM

FVC1957. DLOM - Back to the Basics

Instructor: Chris Mercer
Career Stage: The Self Starter
Knowledge Level: Beginner
Field of Study: Accounting
CPE Credits: 1.5

How can appraisers determine the appropriate marketability discount for each valuation situation? This is a critical question since the discount for lack of marketability is the single largest valuation adjustment factor in most minority interest appraisals. The marketability discount is normally expressed as a percentage to reflect the difference between two prices, the freely marketable price, which for closely held businesses is a hypothetical construct since by definition there is no market for their shares, and a nonmarketable price.

Learning Objectives:

  1. What gives rise to a marketability discount, or the discount for lack of marketability, or DLOM?
  2. How do we determine the DLOM, given the central objective of arriving at credible nonmarketable minority values?
  3. What methods are used to quantify DLOM? How do the methods rank in terms of valuation theory?

06

Wednesday
10:30AM-11:45AM

FVC1960. Clear and Convincing Communications that are Jury Friendly

Instructor: Deborah Johnson
Career Stage: The Self Starter, The Experienced Pro, The Trusted Leader
Knowledge Level: Overview
Field of Study: Accounting, Communications and Marketing
CPE Credits: 1.5

You may have stunning credentials, specialized knowledge and prepare a faultless analysis, but you need more than that to engage and influence a jury. You must have finely tuned “soft” skills – the ability to relate to them, to communicate complex ideas in an easy-to-absorb manner, and to defend without being defensive. Mastery of these soft skills determine whether you are only an expert on paper, or an expert who can help win cases. In this presentation learn what jurors want and why.
Learning Objectives:

  1. Discover the three keys to connecting with the jury on their level.
  2. Identify things you can do to polish up your presentation for maximum impact in the courtroom.

06

Wednesday
11:55AM-1:10PM

FVC1962. How to become a Testifier

Instructor: Thomas Hilton, Katie Holtgrave
Career Stage: The Self Starter
Knowledge Level: Beginner
Field of Study: Accounting
CPE Credits: 1.5

This session is intended for those who have little or no experience in testifying before a trier of fact in a courtroom, arbitration hearing or other venue. Presenters will report the results of a survey of new testifiers in an attempt to identify and address areas of concern. Attendees will receive tips on testifying from the perspectives of both a new and an experienced testifier.
Learning Objectives:

  1. Recall the skill sets, knowledge of the legal system, and core requirements for becoming a testifying expert.
  2. Enhance their performance when testifying in deposition or trial.

06

Wednesday
11:55AM-1:10PM

FVC1963. Cost of Capital – 1, 2, 3

Instructor: Harold Martin, Ethan Hitchcock
Career Stage: The Self Starter
Knowledge Level: Beginner
Field of Study: Accounting
CPE Credits: 1.5

The cost of capital is one the most important considerations in estimating value using the income approach. In this session, participants will learn the theory underlying the cost of capital, as well as practical applications using the three major sources for empirical cost of capital data:

1. Duff & Phelps Cost of Capital Pro
2. BVR Cost of Capital Navigator
3. Damodaran
Learning Objectives:

  1. Recall the three main empirical cost of capital data sources and distinguish respective strengths and weaknesses.