Forensic & Valuation Services Conference 2019

Nov 4, 2019 ‐ Nov 6, 2019


Come to Las Vegas this November for timely updates, cutting-edge information on new technology, and quality networking with other forensic accounting and valuation professionals. You’ll head back to the office with your finger on the pulse of change and an optimized strategy for the future.

The accounting profession is constantly evolving, and our conference is no different. This year our agenda was carefully crafted to provide learning geared towards your career stage. Our committee of thought leaders created each session with a specific audience in mind to ensure that everyone receives the customized learning they need to push their career, and the profession, forward.


The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association’s website, educational materials, products, and services. The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association’s Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests, please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately. 


Sessions

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

Nov 6, 2019 7:30am ‐ Nov 6, 2019 8:45am

Identification: FVC1950

Operation Minutes : 75

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:
  • Recall the current legal landscape surrounding white collar criminal prosecutions
  • Analyze the contours of a Kovel engagement and the forensic accountants role in defending fraud investigations
  • Identify common misconceptions and pitfalls to avoid in white collar investigations
Speaker(s):
Standard: $49.00

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

Nov 6, 2019 8:55am ‐ Nov 6, 2019 10:10am

Identification: FVC1953

Operation Minutes : 75

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:
  • Distinguish the attorney's point of view from others
  • Identify common tactics attorneys use
  • Detect traps
Speaker(s):
Standard: $49.00

Computer Forensics and Forensic Accountants: A Necessary Partnership

Nov 6, 2019 8:55am ‐ Nov 6, 2019 10:10am

Identification: FVC1954

Operation Minutes : 75

This session will focus on the integration and partnership of the Computer Forensics and the Forensic Accounting team in Forensic investigations. We will be focusing on the increasing involvement and benefit that Computer Forensic Specialists add to an investigation. The session will also highlight successful case examples that involved both services, pitfalls of not securing electronic information correctly and common Computer Forensic Tools in 2019.

Learning Objectives:
  • Distinguish between the right and wrong approach to securing computer hardware / email assets
  • Identify the order of services provided in an investigation involving electronic information
  • Use Computer Forensics to make a Forensic Accounting investigation more efficient
Speaker(s):
Standard: $49.00

Estate Planning and Valuation: Current Issues and Topics

Nov 6, 2019 8:55am ‐ Nov 6, 2019 10:10am

Identification: FVC1956

Operation Minutes : 75

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:
  • Understand estate planning: Key documents and techniques; when to start; who to involve; key considerations; and basic estate planning process
  • Understand the differences between states for estate planning considerations
  • Understand how valuation professional get involved in estate planning
  • Understand the financial and emotional considerations in estate planning and review key court cases involving valuation and estate planning/settlement
Speaker(s):
Standard: $49.00

DLOM - Back to the BasicsDLOM - Back to the Basics

Preview Available

DLOM - Back to the Basics

Nov 6, 2019 10:30am ‐ Nov 6, 2019 11:45am

Identification: FVC1957

Operation Minutes : 75

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:
  • What gives rise to a marketability discount, or the discount for lack of marketability, or DLOM?
  • How do we determine the DLOM, given the central objective of arriving at credible nonmarketable minority values?
  • What methods are used to quantify DLOM? How do the methods rank in terms of valuation theory?
Speaker(s):
  • Z. C. Mercer, FASA, CFA, ABAR, Chief Executive Officer, Mercer Capital
Standard: $49.00

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

Nov 6, 2019 10:30am ‐ Nov 6, 2019 11:45am

Identification: FVC1958

Operation Minutes : 75

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:
  • Categorize dual-class stock structures as voting/non-voting or one vote/many votes
  • Interpret public company pricing data to identify appropriate price differentials
  • Assess observed price differences to formulate discounts
Speaker(s):
  • John Taylor, ASA, CMC, MAE, MRICS, Managing Director, Houlihan Lokey Financial Advisors, Inc.
  • Yuka Itami, ASA, CFA, Senior Vice President, Houlihan Lokey Financial Advisors, Inc.
Standard: $49.00

Scale Your Business ModelScale Your Business Model

Preview Available

Scale Your Business Model

Nov 6, 2019 10:30am ‐ Nov 6, 2019 11:45am

Identification: FVC1959

Operation Minutes : 75

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:
  • Augment a traditional 1:1 client service only business model with scalable 1:many BVFLS products.
  • Create 1:many BVFLS products to appeal to potential customers in the attendee's practice area or industry niche.
Speaker(s):
Standard: $49.00

How to Become a Testifier How to Become a Testifier

Preview Available

How to Become a Testifier

Nov 6, 2019 11:55am ‐ Nov 6, 2019 1:10pm

Identification: FVC1962

Operation Minutes : 75

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:
  • Recall the skill sets, knowledge of the legal system, and core requirements for becoming a testifying expert.
  • Enhance their performance when testifying in deposition or trial.
Speaker(s):
Standard: $49.00

Cost of Capital - 1, 2, 3Cost of Capital - 1, 2, 3

Preview Available

Cost of Capital - 1, 2, 3

Nov 6, 2019 11:55am ‐ Nov 6, 2019 1:10pm

Identification: FVC1963

Operation Minutes : 75

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 Navigator
  2. BVR Cost of Capital Professional
  3. Damodaran

Learning Objectives:
  • Recall the three main empirical cost of capital data sources
  • Distinguish respective strengths and weaknesses
Speaker(s):
Standard: $49.00

Deposition - Preparation, Objectives, and Nuances

Nov 6, 2019 11:55am ‐ Nov 6, 2019 1:10pm

Identification: FVC1964

Operation Minutes : 75

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.

Learning Objectives:
  • Identify preparation approaches
  • Apply the art of answering the specific question asked
  • Identify the opportunities to expand an answer for strategic purposes
Speaker(s):
Standard: $49.00
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