Valuing S Corps and Other Flow-Through Entities Post TCJA
Nov 10, 2020 12:30pm ‐ Nov 10, 2020 1:45pm
Identification: FVC2023
Participants will gain insight on how to value S corporations and other pass-through tax entities in the post TCJA world. Additional insights on how to maximize the likelihood of the Tax Court accepting tax affecting will be presented.
- Explain how to value S corporations and other pass-through tax entities in the post TCJA world.
- Discuss how to maximize the likelihood of the Tax Court accepting tax affecting.
Whistleblower Investigations - The Right Way!
Nov 10, 2020 12:30pm ‐ Nov 10, 2020 1:45pm
Identification: FVC2024
This session will focus on the Best Practices to follow when conducting whistleblower investigations related to fraud / financial misappropriation - from the intake of the complaint to the execution of the investigation.
The speakers will present best practices and potential pitfalls through the examination of a Whistleblower case study that will be referenced throughout the presentation. The presentation will outline the immediate steps required when a complaint is received, the factors to consider when conducting a discrete internal investigation, the relevant investigative steps to follow and the potential client response to the findings of the investigation. The presentation will also outline the appropriate steps to take and the processes to undertake to limit the potential risks that an organization may face.
- Identify best practices to best practices to manage a Whistleblower complaint from intake to investigation to recommended actions illustrated through the review of a real life case study
- Indicate potential risk exposure and legal ramifications of mishandling a Whistleblower Complaint by the entity involved.
- Determine the rights afforded to a Whistle Blower in a private and public sector environment
Discounted Cash Flows: Factoring In the Future
Nov 10, 2020 2:15pm ‐ Nov 10, 2020 3:30pm
Identification: FVC2025
The session will explore the use of the discounted cash flow method under the income approach of valuation. We will discuss the significance of forecasts and the valuation analysts responsibility to determine resonableness. We will also discuss the necessary cash flow adjustments under both the invested capital and the direct to equity method. Finally, we will discuss discount rates, calculation of terminal value and discounting considerations.
- Identify when to apply the discounted cash flow method under the income approach of valuation.
- Review free cash flow adjustments under both the invested capital and equity methods
- Recognize the proper discount rate given the cash flows calculated.
Trade Secrets Damages - Customer Lists and Relationships
Nov 10, 2020 2:15pm ‐ Nov 10, 2020 3:30pm
Identification: FVC2027
This session will explore cases which arise from matters where customer data, lists, relationships and other compilations of data are alleged to be trade secrets which have then been misappropriated. It will also focus on the role of the forensic accountants as consultants or expert witnesses in assisting counsel in calculating damages to the plaintiff and/or unjust enrichment to the defendant.
- Determine the challenges of establishing customer-related information and other related data as a trade secret under state and federal law
- Identify how forensic accountants can assist counsel in identifying and analyzing relevant data and information to establish that customer-related information is (or is not) a trade secret under state and federal law
- Analyze accepted methodologies for calculating damages for trade secrets misappropriation and discuss case-specific data and information helpful to establishing (or rebutting) damages associated with the misappropriation of customer data, lists, relationships and other compilations of data
Estimating the Fair Value of Private Debt and Equity Investments in Times of Increased Uncertainty and Volatility
Nov 10, 2020 2:15pm ‐ Nov 10, 2020 3:30pm
Identification: FVC2028
Volatile public markets combined with economic uncertainty related to the COVID-19 response has created a challenging environment to estimate the fair value of non-traded or infrequently traded debt and equity investments. The AICPA Accounting and Valuation Guide: Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies published in August of 2019 provides excellent guidance in estimating fair value for such investments. Yet uncertainty and public market volatility during 2020 has raised questions as to whether changes to past practices are warranted and whether fair value can be reliably measured during times of volatility and uncertainty.
- Determine whether valuation methods should change in times of uncertainty and volatility
- Determine whether the fair value measurement objective for Investment Companies changes or should change in times of excess volatility
- Analyze whether valuation inputs should change because of volatility
- Distinguish whether the practical expedient with respect to valuing fund interests is viable in times of significant uncertainty
- Identify changes to valuation inputs, methods and conclusions necessary to comply with ASC Topic 820 in times of significant uncertainty
Valuation for Succession Planning
Nov 10, 2020 2:15pm ‐ Nov 10, 2020 3:30pm
Identification: FVC2029
Over the next 10-15 years, during the maturing of the post WWII and "Baby Boomer" generations, it is estimated that over 500,000 private U.S. businesses will exchange hands each year. This will result in an increase for exit planning advisory services over this period. This seminar will present a discussion of alternative exit planning strategies for owners and the related valuation issues that must be considered, including:
- Buy/Sell Agreements
- Estate and gift taxes
- Charitable contributions
- Sales to management
- Sales to a third party
- Mergers and acquisitions
- ESOPs
- Assess alternative exit strategies for owners
- Evaluate valuation considerations for each alternative strategy
Balance Sheet Considerations in Income-Based Valuations - Common Errors
Nov 10, 2020 3:45pm ‐ Nov 10, 2020 4:35pm
Identification: FVC2030
This presentation will focus on the importance of a proper analysis of the balance sheet of the subject company being valued.
Through a series of mini-case studies and live spreadsheet models and visuals, we will explore the importance of redundant assets, net working capital and capital expenditures considerations in the context of cash flow and income based valuations, showing how failure to consider balance sheet adjustments can result in flawed valuation conclusions.
Through a series of mini-case studies and live spreadsheet models and visuals, we will explore the importance of redundant assets, net working capital and capital expenditures considerations in the context of cash flow and income based valuations, showing how failure to consider balance sheet adjustments can result in flawed valuation conclusions.
- Recognize how failure to consider balance sheet adjustments or normalizations can result in flawed cash flow projections and valuation conclusions
- Discuss data points to consider in order to help inform the valuator’s conclusions on various balance sheet adjustments or normalizations
- Review checklist used to ensure their valuation models are internally consistent
Tax Controversy Beyond the Audit
Nov 10, 2020 3:45pm ‐ Nov 10, 2020 4:35pm
Identification: FVC2031
The session will provide the practitioner with an understand of the implications when an audit or controversy turn to criminal implications. We will explore the differences in Civil versus Criminal proceedings, the role of the IRS Criminal investigation division and the role of the Accountant in the proceeding. The session will highlight current focus areas for the IRS, We will discuss the relationship with counsel, and the need for a Kovel Letter, as well as serving as a consulting expert versus a testifying expert.
- Identify situations when potential criminal implications are present
- Determine the role and need for counsel, and the forensic accountant
- Distinguish current focus areas for the tax authorities
Review Reports: A Practical Approach
Nov 10, 2020 3:45pm ‐ Nov 10, 2020 4:35pm
Identification: FVC2032
The main highlight of this session will be the issuance and detailed discussion of a new BV Standards compliant sample valuation/appraisal review report. Hitchner willalso use an organized checklist format that allows the technical reviewer to determine whether the valuation data sources, assumptions and methods are reliable and supportable. This process can be used for quality assurance and technical reviews in litigation, in internal senior staff reviews, and in reviews by regulatory groups.
- Construct a technical review of various business valuations and/or report of an equity ownership interest
- Assess "best practices" in preparing and presenting a review valuation and report
Blockchain Forensics: The State of the Union
Nov 10, 2020 3:45pm ‐ Nov 10, 2020 4:35pm
Identification: FVC2033
This session covers an overview of the distributed ledger technology known as blockchain.
- Explain blockchain transactions
- Describe mechanisms to review blockchain transactions
- Distinguish issues arising from distributed ledger transactional inquiries