Sessions For November 6

11:25AM-11:35AM

6:30AM-1:10PM

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
7:30AM-8:45AM

FVC1948. Intersection of Income Market Approach

Instructor: Travis Harms
Career Stage: The Experienced Pro
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

While it is convenient to distinguish between the income and market approaches to value, one should be careful not to overstate the differences. After all, the approaches share a common objective of describing how a transaction for the subject asset would occur on an arm's-length basis at the valuation date.
Learning Objectives:

  1. Use cash flow forecasts underlying the income approach to inform market multiples
  2. Apply market-derived returns to influence discount rates used in the income approach
  3. Interpret observable market multiples
  4. Interpret historical market returns and how best to correlate indications of value from the two approaches

06

Wednesday
7:30AM-8:45AM

FVC1949. Tracing Analysis – Follow the Money

Instructor: Stacy P. Collins, Ryan J. White
Career Stage: The Experienced Pro
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

Cash tracing has multiple applications. It can be used to differentiate separate and marital property, identify undisclosed assets, prove embezzlement, and more. This course will utilize a case study to illustrate best practices in conducting such investigations. It will guide participants through a cash tracing analysis from start to finish, providing tips and tools you can apply in your next case.

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

  1. Prepare a record request to begin a cash tracing analysis;
  2. Import and organize bank data effectively and efficiently;
  3. Reconcile data sources to test and validate the nature and purpose of receipts and disbursements;
  4. Evaluate red flags and prepare related follow-up requests.

06

Wednesday
7:30AM-8:45AM

FVC1950. The Forensic Accountant as an Intricate Part of the White Collar Criminal Defense Lawyer's Arsenal

Instructor: Matthew S. Adams, Jessica Giresi , Matthew Lee
Career Stage: The Experienced Pro
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

We explore the various roles for forensic accountants in white collar criminal defense matters, both pre and post indictment, and how to protect their work from overreaching government investigators. From assessing financial loss under the protections of the attorney-client relationship in the midst of an active grand jury investigation, to debunking misplaced government hypotheses about revenue and expenses in the middle of trial, the forensic accountant is an invaluable member of the white collar criminal defense lawyer’s team when that relationship is properly constructed. From engagement, to trial testimony, to sentencing, this panel explores the wide ranging opportunities for forensic accountants in the white collar criminal defense space, and how to protect those engagements from some common pitfalls and misconceptions
Learning Objectives:

  1. Recall the current legal landscape surrounding white collar criminal prosecutions
  2. Analyze the contours of a Kovel engagement and the forensic accountants role in defending fraud investigations
  3. Identify common misconceptions and pitfalls to avoid in white collar investigations

06

Wednesday
7:30AM-8:45AM

FVC1951. Data Analytics Progression Part 2: Advanced CAATs, Automation, and Visualization Case Study

Instructor: Brian Merrill
Career Stage: The Experienced Pro
Knowledge Level: Intermediate
Field of Study: Accounting, Computer Software & Applications
CPE Credits: 1.5

Building on the "How to Trust Your Data" session, this session will explore the next project phase: analyzing data to identify trends and outliers to form observations. The format of the session will lean on a use-case on how the application of computer-aided audit techniques, visualization, and automation can be used for forensic engagements.

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

  1. Learn statistical techniques used to calculate comparison measures within a dataset leveraging the Python programming language.
  2. Perform data analytics techniques to identify outliers, activity of interest and hidden insights in data to undercover risky activity or violations of compliance or corporate policy.

8:45AM-8:55AM

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
8:55AM-10:10AM

FVC1953. Cross-Examination...Inside the Brain of an Attorney

Instructor: Neil J. Beaton, Randall J. Dean
Career Stage: The Experienced Pro
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

The session will dive into the brain of an attorney, and how they view cross-examination, and some of the theory, strategies, and methods employed by attorneys. It will also cover things to look out for and how to stick to your points, expertise and opinions.
Learning Objectives:

  1. Distinguish the attorney's point of view from others'
  2. Identify common tactics attorneys use
  3. Detect traps

06

Wednesday
8:55AM-10:10AM

FVC1954. How To Ensure You Don't Get Excluded – Assessing Data Reliability Issues in Quantifying Damages Tips

Instructor: Prem M. Lobo, Daniel Ross
Career Stage: The Experienced Pro
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5
Canadian flag

Damages experts are ever-more frequently being challenged on the reliability of their opinion evidence under the Daubert standard. One of the most commonly cited reasons for excluding experts is that their analyses were not supported by sufficient facts or data. This session will use detailed examples from case law to identify specific risk-areas that valuation professionals need to be aware of when working on cases with data issues, and the types of procedures they can use to protect themselves from being excluded as an expert witness at trial. This presentation will provide practical, hands-on insights directly relevant to both US and Canadian practitioners. The presentation will be delivered in a high-energy and interactive manner that will aim to capture the interest of the audience.
Learning Objectives:

  1. Use several court rulings where damages experts were challenged on the basis of reliability in order to understand how the courts interpreted these challenges and viewed the experts’ work.
  2. Identify common data issues that are encountered by experts when preparing their reports.
  3. Apply approaches that experts can take to deal with data issues in their analyses and to avoid their opinions being excluded through Daubert challenges (in the US) and non-Daubert challenges (in Canada).

06

Wednesday
8:55AM-10:10AM

FVC1955. Bankruptcy, Insolvency & The Financial Expert

Instructor: Kenneth DeGraw, Catherine Youngman
Career Stage: The Experienced Pro
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

Session covers roles accountants play in bankruptcy engagements, nuances regarding each of the roles, and interplay between attorney and forensic accountant/financial advisor in distressed situations. Matters including assignment for the benefit of creditors, receiverships, bankruptcies, and liquidating trusts.
Learning Objectives:

  1. Identify assignee, trustee, examiner, and receiver roles and responsibilities
  2. Formulate procedures and considerations for each of the roles
  3. Differentiate the interplay between the attorney and forensic accountant

06

Wednesday
8:55AM-10:10AM

FVC1956. Estate Planning and Valuation: Current Issues and Topics

Instructor: Lisa Cribben, Pam Schneider
Career Stage: The Experienced Pro
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

Estate planning is an important process for valuation professionals to understand. This session will focus on the estate planning process, when clients should start, key considerations, differences by state, basic estate planning documents, popular estate planning techniques, how valuations play into estate planning, and key court cases relating to valuations for estate planning.
Learning Objectives:

  1. Understand estate planning: Key documents and techniques; when to start; who to involve; key considerations; and basic estate planning process
  2. Understand the differences between states for estate planning considerations
  3. Understand how valuation professional get involved in estate planning
  4. Understand the financial and emotional considerations in estate planning and review key court cases involving valuation and estate planning/settlement

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

FVC1958. You Get What You Pay For: Voting, Non-voting, and Super-voting Shares

Instructor: John Taylor, Yuka Itami
Career Stage: The Trusted Leader
Knowledge Level: Advanced
Field of Study: Accounting
CPE Credits: 1.5

In the event a company has both voting and non-voting classes of stock, there may be an observed (or inferred) price difference between the two – the generally understood concept of “greater value for greater rights” would lead us to assume such would usually be in favor of the voting stock. However, when substantial numbers of both voting and non-voting shares are outstanding, one vote owned by a marginal investor outside the control group is likely not enough to impact corporate decisions. Further, commonly-used methods to measure empirical price differences among listed securities and/or transactions may not adequately express the relevant differential. This panel will discuss our recent research and findings on this topic as regards the relative values of voting, non-voting, and super-voting shares. Session covers Houlihan Lokey’s recent research and filings regarding the potential premia/discounts based on historical studies and more detailed and nuanced analyses. Specific areas of discussion include: -Other factors which may impact price -Analytical frameworks to screen for comparable datapoints -Interpretation of the outputs
Learning Objectives:

  1. Categorize dual-class stock structures as voting/non-voting or one vote/many votes
  2. Interpret public company pricing data to identify appropriate price differentials
  3. Assess observed price differences to formulate discounts

06

Wednesday
10:30AM-11:45AM

FVC1959. Scale Your Business Model

Instructor: Rod Burkert
Career Stage: The Experienced Pro
Knowledge Level: Intermediate
Field of Study: Business Management & Organization
CPE Credits: 1.5

For the most part, our traditional client service model is 1-to-1, 1-and-done. That means last year’s clients must be replaced this year to maintain the “old” revenue status quo. And to grow, we must add more new clients than the number that dropped off. Then that many more clients need to be replaced the following year to maintain the “new” revenue status quo. But it is more than just finding new clients. Because even if we are good at attracting leads and converting them into new clients, we ultimately must deliver the work … each year … every year … into perpetuity. And since there are only so many hours in a day, we can only serve so many clients in a year. This model does not scale. We are pushing the boulder up a hill; we are the mythical Sisyphus. There is an alternative – a 1-to-many business model that can augment our 1-to-1 client service model and give us more time, money, and freedom in our practices.
Learning Objectives:

  1. Augment a traditional 1:1 client service only business model with scalable 1:many BVFLS products.
  2. Create 1:many BVFLS products to appeal to potential customers in the attendee's practice area or industry niche.

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
10:30AM-11:45AM

FVC1961. Data Analytics Progression Part 3: Management Considerations

Instructor: Alex Koltsov
Career Stage: The Trusted Leader
Knowledge Level: Advanced
Field of Study: Accounting, Computer Software & Applications
CPE Credits: 1.5

This session will explain what type of forensic engagements could benefit from the application of data analytics, quality control considerations when emerging technologies are leveraged, and how to enhance current capabilities in your practice / department.

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

  1. Identify forensic engagements that could apply data analytics to reach conclusions in a more comprehensive (and defensible) manner.
  2. Understand how to enhance the data analytics approach at your practice or department by enhancing the skillets of human resources and enabling the work by adopting select technologies.

11:45AM-11:55AM

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.

06

Wednesday
11:55AM-1:10PM

FVC1964. Deposition - Preparation, Objectives, and Nuances

Instructor: Stacy P. Collins, Cindy Joseph, Francesca Resch
Career Stage: The Experienced Pro
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

Deposition itself is not a trial, nor is it an opportunity to convince anyone, especially the other lawyer, about how right you are. Nothing you say will "win" the case, however something you say may "lose" the case. In this session you will
Learning Objectives:

  1. Identify preparation approaches.
  2. Apply the art of answering the specific question asked
  3. Identify the opportunities to expand an answer for strategic purposes

06

Wednesday
11:55AM-1:10PM

FVC1965. TBD - M&A Damages

Instructor: Clara Chin, Jeff Livtak
Career Stage: The Experienced Pro
Knowledge Level: Intermediate
Field of Study: Accounting
CPE Credits: 1.5

Session Description to Come

06

Wednesday
11:55AM-1:10PM

FVC1966. Valuation of Warrants

Instructor: Neil J. Beaton
Career Stage: The Trusted Leader
Knowledge Level: Advanced
Field of Study: Accounting
CPE Credits: 1.5
CEIV CPE/CPD Credits: 1.5

Do you know the difference between and option and a warrant? Is the Black-Scholes model really the one-size-fits-all tool we often make it out to be? This session will explore the advanced aspects of private company warrant valuation—giving you the tools to move beyond the simple and straight-forward to the complex and nuanced analysis that savvy clients demand.
Learning Objectives:

  1. Evaluate warrants based on their unique characteristics
  2. Analyze warrant features that impact value.
  3. Calculate the value of a warrant using the most appropriate methodology