A Picture is Worth a Thousand Words: Data visualization in expert reports

Nov 15, 2022 1:10pm ‐ Nov 15, 2022 2:25pm

Identification: FVC2234

While words can be powerful, sometimes they're not the best way to get your point across. Visuals can aid in distilling a complex message. In our role as independent experts it is our duty to assist our clients, opposing experts, and ultimately the triers of fact in understanding our evidence. In this presentation we will provide strategies to optimize the design of visualizations to help increase the speed at which your message is comprehended and retained. Our goal is to help you leverage data visualization to improve the effectiveness of your expert reports and testimony.

Learning Objectives:
  • Recall best practices in data visualizations
  • Identify how to develop data visualizations for analysis and to communicate an expert opinion

409A Valuations

Nov 15, 2022 1:10pm ‐ Nov 15, 2022 2:25pm

Identification: FVC2233

Provide an overview of 409A/ASC 718 valuations and the AICPA's _Accounting and Valuation Guide: Valuations of Privately-Held-Company Equity Securities Issued as Compensation. _The presentation will focus on implementing allocation models, with particular emphasis on the option pricing method (OPM)_._

Learning Objectives:
  • Identify which allocation method is appropriate under a particular fact pattern.
  • Recall how to implement the option pricing method.

Valuation Hot Topics

Nov 15, 2022 2:50pm ‐ Nov 15, 2022 4:05pm

Identification: FVC2235

Hear from valuation experts on the current hot topics and changes in thought on valuation approaches and processes to developing a reliable and supportable Fair Market Value analysis.

Learning Objectives:
  • Recall inflation's impact on future growth.
  • Estimate the future of business valuation.
  • Determine company-specific risk.

Drugs, Pigs, & Donut Holes: Estimating Unsecured Litigation Claims in the Mallinckrodt Bankruptcy

Nov 15, 2022 2:50pm ‐ Nov 15, 2022 4:05pm

Identification: FVC2236

Deep dive case study of antitrust claims surrounding pharmaceutical drug pricing and practices. Explore the valuation of unsecured claim in a bankruptcy setting. Address the difference between claim estimation and damage calculation. Discuss the difference between private and government insurance claims.

Learning Objectives:
  • Identify the nature of litigation claim estimation in a bankruptcy setting
  • Distinguish the different payor participants for pharmaceuticals
  • Differentiate between claim estimation and damage calculations.

Post-Closing Disputes: Prevention and Resolution Strategies (Acquisition)

Nov 15, 2022 2:50pm ‐ Nov 15, 2022 4:05pm

Identification: FVC2238

This session will empower participants to provide valuable advice to clients through all stages of the deal continuum. It will focus on measures that can be taken to minimize the risk of post-closing disputes and considerations that are important for the client to consider in navigating through the resolution process when disputes over working capital, earnout calculations, and representations and warranties do arise. Participants will be provided real-life examples of thorny issues and the arbitrator’s viewpoint on each.

Learning Objectives:
  • Analyze the perspective of an attorney and an accountant who assist transaction parties in addressing post-closing disputes.
  • Compare the viewpoints that may be taken by an arbitrator or other independent party charged with resolving the issues.

The Forensic: How the CIA, a Brilliant Attorney and a Young CPA Brought Down Howard Hughes

Nov 15, 2022 2:50pm ‐ Nov 15, 2022 4:05pm

Identification: FVC2239

American business tycoon, movie director and aviator Howard R. Hughes Jr. and his pugnacious attorney, Chester Davis, were taken down by a brilliant and passionate attorney, John Bales Clark, and a diligent and talented young CPA, Paul Regan. Clark and Regan were dedicated to restoring what was wrongfully taken from their clients by Hughes and Davis.

Learning Objectives:
  • Analyze the control/risk environment.
  • Determine, present and measure violations of the purchase contract.
  • Calculate the amount recoverable by the shareholders of the airline acquired by Howard Hughes (Air West).

Business Combination Guide

Nov 15, 2022 2:50pm ‐ Nov 15, 2022 4:05pm

Identification: FVC2237

The presenters will discuss recent release for comments of draft AICPA Accounting and Valuation Guide, Business Combinations. The presenters will also discuss common mistakes observed in practice in valuations performed for business combinations purposes, how to identify and rectify them. Examples of issues to be covered are as follows:

  • CACs for wasting assets and associated PFI adjustments
  • Intangible asset returns on the WARA
  • Taxable and nontaxable adjustments to the WARA
  • Assessment of the implied capital structure in the WARA
  • Inventory adjustments to intangible assets
  • Use of financial overlay to identify and fix inconsistencies
Learning Objectives:
  • Analyze the topics covered in the exposure draft of the Business Combinations guide.
  • Identify some of the key areas of diversity-in-practice that the guide is attempting to address

Money Laundering / Terrorist Financing - Foundations to Emerging Typology Detection

Nov 16, 2022 7:00am ‐ Nov 16, 2022 8:15am

Identification: FVC2241

An analysis of AICPA AML/CTF survey results; · Money Laundering and Terrorist Financing foundational knowledge (e.g. definitions, regulations, and AML programs); · Considerations for accountants and forensic accountants; and · ML/TF typology (e.g. Crypto Tumblers/ Deep Web (P2P)/ Gaming Sites/ Hawala) detection through the use of regulatory technologies (regtech), open source, and compliance reporting

Learning Objectives:
  • Analyze current understanding of accountants and forensic accountants knowledge of the AML/ CTF landscape.
  • Use foundational knowledge regarding Money Laundering and Terrorist Financing.
  • Determine specific ways accountants and forensic accountants may be involved with Money Laundering and Terrorist Financing.
  • Identify complex ML/TF typologies and the ways the regtech/ aml practitioners are adjusting to identify, investigate and report.

Dusting Off Your Clients’ Buy Sell Agreements and Understanding their Importance to Business Valuation Services

Nov 16, 2022 7:00am ‐ Nov 16, 2022 8:15am

Identification: FVC2242

A. Understand the role Buy-Sell Agreements play in protecting businesses and the interests of their owners in administering the transfer of ownership interests. 

B. Understand roles valuation professionals may play in assisting with the administration or litigation of Buy-Sell Agreements 

C. Understand the key provisions contained in Buy-Sell Agreements 

D. Understand the importance of periodically evaluating the provisions of Buy-Sell Agreements in view of evolving characteristics of the business and the objectives of its owners. 

E. Insight into how valuation professionals may, among other areas, offer guidance on the provisions of Buy-Sell Agreements pertinent to the determination of the purchase price upon various triggering events. 

F. Understand the advantages and disadvantages of alternative methods to determine a purchase price and identify common pitfalls and red flags to avoid that could lead to disputes or inequitable arrangements. 

G. Explore areas that valuation professionals should consider in terms of how Buy-Sell Agreements can impact valuations for other purposes such as tax and family law. 

H. Discuss how the Courts may view Buy-Sell Agreement disputes and practical examples of disputes and eventual outcomes

Learning Objectives:
  • Identify the role Buy-Sell Agreements play in protecting businesses and the interests of their owners in administering the transfer of ownership interests.
  • Distinguish roles valuation professionals may play in assisting with the administration or litigation of Buy-Sell Agreements
  • Analyze the key provisions contained in Buy-Sell Agreements
  • Determine the importance of periodically evaluating the provisions of Buy-Sell Agreements in view of evolving characteristics of the business and the objectives of its owners.
  • Compare insights into how valuation professionals may, among other areas, offer guidance on the provisions of Buy-Sell Agreements pertinent to the determination of the purchase price upon various triggering events.

Financial reporting - How to prepare for audit review of your work and what to consider if you are the reviewer

Nov 16, 2022 7:00am ‐ Nov 16, 2022 8:15am

Identification: FVC2240

In this session, we'll identify common audit issues within common financial reporting valuations and overview some best practices for coordination with the client audit teams and external specialists.

Learning Objectives:
  • Identify common audit issues related to common financial reporting valuations
  • Analyze how to apply certain best practices to coordinate with audit teams and external specialists