Business Valuation and Litigation Services Conference (E1709320)

7:30-7:45am
Registration and Breakfast

7:45-8:00am
Welcome and Opening Remarks

8:00-8:50am
Economic Update
Robert “Tim” McGee – U.S. Trust, Bank of America Private Wealth Management
The state of the economy can have a significant impact on how a business is valued. CPAs must understand the current economic climate in order to do their jobs effectively. This session will provide an overview of the current state of the domestic and global economy, and explore the implications for businesses and investors.

8:50-10:05am
Detecting and Responding to Trick Questions in Testimony
James R. Hitchner, CPA/ABV/CFF, ASA – Financial Valuation Advisors
The highlight of this session will be a mock testimony with answers to “trick” questions.

• How to detect a trick question
• How to answer a trick question
• What are the rules in a deposition or trial
• File organization
• Managing the attorneys (yours and theirs)

10:05-10:15am
Morning Break

10:15-11:30am
Valuation of Intellectual Property/Trade Secrets in Litigation
Russell W. Faegenburg, J.D. - Lerner David Littenberg Krumholz & Mentlik, LLP
Jeffrey N. Press, CPA, CFF, CFE – EisnerAmper LLP
Dana Trexler Smith, CPA, CFF - EisnerAmper LLP
The presentation will focus on intellectual property damages including methodologies and key issues for practitioners to consider.

11:30am-12:20pm
Lunch

12:20-1:35pm
Cannabis Industry Compliance and Appraisal Nuances: Lessons Learned from Colorado
Ronald L. Seigneur, CPA/ABV, CFF, ASA, CVA, CGMA – Seigneur Gustafson LLP
This session will provide an overview of the cannabis industry, including landmark case law, recent legislative activities, and the evolution of the industry as more state and local jurisdictions implement some level of licensed cannabis business activity. Valuation of cannabis dispensaries, cultivation operations and related license rights will be addressed, focusing on the nuances and risk assessment required. The discussion leader will also touch on the lessons learned form 10 years of working with cannabis businesses in Colorado ranging from appraisal and litigation matters to income tax compliance and internal control issues.

1:35-1:45pm
Afternoon Break

1:45-2:35pm
Improving Fair Value Measurements
Nathan DiNatale, CPA/ABV, CVA, ABAR – SC&H Group
This session will discuss the new CEIV credential, requirements for obtaining and the importance of the underlying Mandatory Performance Framework.

• Identify the requirements for obtaining the CEIV
• Identify the purpose and primary goal of the framework
• Identify the documentation requirements for fair value engagements

2:35-2:45pm
Afternoon Break

2:45-4:00pm
Industry Valuation Methods, Rules of Thumb and Other (In)Sanity Checks
Donald J. DeGrazia, CPA/ABV/CFF – Gold Gerstein Group LLC
This session will discuss the fact that business owners and buyers frequently use industry methods and rules of thumb as an indication of value when buying and selling a business. They are easy to apply and understand but are they accurate?

Topics to be considered include:

• Businesses in some industries only sell based on industry methods.
• As a primary method of valuation they can get the valuator in hot water, but as a sanity check they could indicate a valuation in need of reconciliation.
• Industry methods also provide insight into what industry insiders and management think a business is worth and indicate their view of industry value drivers.
• This session will cite several industry methods and rules of thumb and compare them to more traditional methods of valuation.
• Learn sources for industry methods and rules of thumb.