American Institute of CPAs

Session covers legal and financial aspects of damages. The session will provide a primer on understanding commercial damages from a legal perspective, including types of damages and remedies. The session will review the role financial professionals play in quantification of damages, including professional standards, methods and analyses.

Learning Objectives:

Identify types of damages and remedies in litigation
Evaluate professional standards applicable to financial professionals performing damage assessment engagements
Identify components of lost profits damages measurements, including elements, methodology and financial analyses
Recognize other types of damages measurements

The Valuation Conclusion Synthesis of Multiple Methods: The Why & How of Using Multiple Methods

Nov 8, 2021 9:50am ‐ Nov 8, 2021 11:05am

Identification: FVC2103

There are three approaches to value: Income, Cost, Market approach and each approach looks at a business in different, but important ways. If you are doing the valuation and the approaches all come up with very different values, reconciling the approaches can be an important task in arriving at a reliable and supportable fair market value. This sessions will delve into ways to reconcile the approaches to arrive at values that corroborate each other.

Learning Objectives:

Outline the 3 approaches and the important assumptions that are used in the approaches
Discuss how the assumptions in each of the methods correlate to other assumptions in the other methods
Discuss ways to adjust assumptions made to better correlate each of the approaches
Walk through valuation examples that initially start being far apart and to correlate and arrive at a better supported valuation conclusion

Expert Hot Tubbing - How Experts Can “Soak Up” the Experience to Their Advantage (A Case Study)

Nov 8, 2021 9:50am ‐ Nov 8, 2021 11:05am

Identification: FVC2105

The strategy of expert hot-tubbing has been used in a mediation, arbitration and pre-trial settings to assist counsel and the trier of fact in exploring and understanding complex expert analysis and opinions. This course will walk through a case study of an arbitration where the experts testified during a hot-tubbing session with the ability to openly question each other and discuss complex accounting issues, assumptions, and opinions to better-educate both Counsel and the Triers of Fact – in this case, an arbitration panel of attorneys and a judge.

Learning Objectives:

• Learn about different expert hot-tubbing strategies
• Explore both the advantages and risks of expert hot-tubbing
• Tips on the do’s and don’ts during expert hot-tubbing

Key Valuation Issues in Matrimonial Litigation

Nov 8, 2021 9:50am ‐ Nov 8, 2021 11:05am

Identification: FVC2106

In this panel, Brian Schwartz and Stacy Collins will cover hot tips on a variety of challenging issues in matrimonial litigation. These will include but are not necessarily limited to: 1) Issues for jointly retained experts; 2) Difficulties in discovery; 3) Multiple valuation dates; 4) Effect of COVID on business valuation and income; 5) Reviewing books and records; and 6) Personal versus enterprise goodwill.

Learning Objectives:

To discuss strategies for dealing with difficult valuation issues
To present both the expert and attorney view on how to handle challenging issues in matrimonial litigation
To address the unique challenges in the role of a jointly retained or court appointed expert

How to Make Sense of a "Noisy" Prior Year(s)

Nov 8, 2021 11:30am ‐ Nov 8, 2021 12:45pm

Identification: FVC2109

Put simply, 2020 was a "noisy" year for many subject companies valued by our industry; however, beyond 2020, our profession evaluates subject companies going through volatile periods as well as industries that benchmark differently than the general economy frequently. These analyses may require extra analyses to assess appropriate estimations of normalized ongoing levels. Determining appropriate adjustments, margins, earnings, sales levels, etc, can provide to be a more rigorous analysis than otherwise in a mature business within a stable industry.

Learning Objectives:

Understand why there is not one single formula or rule of thumb for estimation of ongoing levels
Evaluate the appropriateness for adjustments in a volatile year and how these analyses must be performed in conjunction with estimating 'ongoing levels'
Determine additional valuation considerations to review and assess

The Inclusion Imperative: Talking Talent

Nov 8, 2021 11:30am ‐ Nov 8, 2021 12:45pm

Identification: FVC2110

The Inclusion Imperative - We will be joined by Withum's Chief Talent Officer, Theresa Richardson and Director of Inclusion & Diversity, Bill Bradshaw for a fireside chat on all things talent including how to attract, retain and develop top talent. Though candid conversations, Theresa and Bill will share how Withum's efforts has enabled an engaged workforce through inclusion, diversity and equity. Through these efforts, Withum has become a catalyst for growth and success making the firm a great place to work.

Learning Objectives:

You will walk away with a business case around Inclusion and Diversity.
As a result of the pandemic, we will share best practices around recruiting, self care and team member engagement.

Power Excel - Power Applications for the Forensic Accountant

Nov 8, 2021 11:30am ‐ Nov 8, 2021 12:45pm

Identification: FVC2111

This hands-on session will focus on Excel-based "Power" tools! We will explore Power Query which supercharges Excel's ability to connect, transform, combine, and load data. Additionally, we will explore Power Pivot which allow us to analyze large volumes of data from various sources and quickly present findings through Pivot Tables and Pivot Charts. Participants will have the ability to work through multiple real-world FVS use-cases using financial and non-financial data during the session.

Learning Objectives:

Utilize Excel's Power Query tool to create an index of documents received from counsel.
Utilize Power Query to un-pivot data tables.
Explore Power Query tools to help import, clean, and transform data.
Creating the link between external data and Excel's Power Pivot Data Model.

Clearing the Fog from Financial Forecasts

Nov 8, 2021 11:30am ‐ Nov 8, 2021 12:45pm

Identification: FVC2107

Quantifying what the future holds for companies is integral in valuation and forensic engagements and has never been more challenging. Economic contraction, expected recovery, political climate, supply chain disruption, and environmental regulations are just some of the factors impacting cash flow forecasts. This session will focus on navigating the uncertainty to prepare defendable cash flow forecasts. We will explore methods for preparing forecasts as well as resources and approaches to support the forecast assumptions. After attending this program, participants will be able to identify factors to consider in preparing forecasts, how to develop and support forecast assumptions, and resources to substantiate assumptions.

Learning Objectives:

Identify qualitative and quantitative factors impacting the future cash flow for companies
Apply methods for developing and evaluating forecast assumptions
Using independent resources to support assumptions

Emergence from Bankruptcy through Fresh-Start Reporting

Nov 8, 2021 11:30am ‐ Nov 8, 2021 12:45pm

Identification: FVC2108

Each bankruptcy is unique. And while facts and circumstances may vary from case to case, US GAAP requires the adoption of ASC 852, Reorganizations while an entity is in Chapter 11. “Accounting follows the legal” is a phrase often referenced when applying ASC 852, which is also viewed as a "presentation" standard for financial reporting.

This session is designed to introduce the fundamentals of a Chapter 11 bankruptcy, focusing on reorganizations, and the US GAAP presentation under ASC 852 .... at the bankruptcy petition date, during the bankruptcy, and at emergence. The session will focus on the emergence accounting model discussed within ASC 852, known as Fresh-Start Reporting, and the financial statement presentation impacts of that accounting model.

Learning Objective:

Awareness of bankruptcy timelines, key milestones in a reorganization case, and terminology used in the Court and in accounting and reporting

Active vs. Passive Appreciation: Overview and Examples

Nov 8, 2021 1:45pm ‐ Nov 8, 2021 3:00pm

Identification: FVC2113

This seminar will present a quantitative approach for estimating active and passive appreciation of an ownership interest in a closely held business for purposes of equitable distribution in divorce. A case study illustrating the method will be presented.

• Review of representative case law and professional treatises

• Analysis of appreciation resulting from passive factors such as market forces and the efforts of third parties

• Analysis of appreciation attributable to the active efforts of the parties

• Case study illustrating the method.

Learning Objectives:

To provide participants with an understanding of the relevant case law and principals relating to the treatment of active and passive appreciation
To provide participants with a model for quantifying the active and passive components of appreciation

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