Featuring (click image for more information):

Kevin R. Yeanoplos CPA/ABV/CFF, ASA Brueggeman and Johnson Yeanoplos, P.C.	John Paglia Ph.D., MBA, CPA, CFA Pepperdine Private Capital Markets Project

Why You Should Attend

Since its first report in August, 2009 the Private Capital Markets Project has created insight, confusion, disagreement, and adulation within the valuation community. Yet out of the claims and responses created to vet the Private Capital Markets Project and its data, consensus and clarity have eluded appraisers.

On March 15 BVR welcomes Private Capital Markets Project lead researcher John Paglia and valuation expert Kevin Yeanoplos for "Point/Counterpoint: Debating the Private Capital Markets Project." Join these two experts to hear how the Private Capital Markets Project data was procured, how it's presented, and how it can be put to best use.

Agenda

• Introduction: Eternal Truths of Business Valuation
• Fundamentals
• General Theory of Income Approach
• Risk & the Cost of Capital
• Models for Calculating the Cost of Equity
• Build-Up
• Capital Asset Pricing Model
• Modified Capital Asset Pricing Model
• Methods for Quantifying Specific Company Risk
• Are public and private markets substitutes?
• Introduction to the Pepperdine Private Capital Markets Project
• What is the Financing Status of Privately-Held Businesses?
• Capital Access Drives Valuations
• Capital Providers: What’s Happening in Banks?
• What's Happening in Mezzanine?
• What's Happening with Private Equity?
• How Can Appraisers Use the Pepperdine Private Capital Markets data to Estimate Discount Rates?
• The Private Cost of Capital Model
• Appraisers Call to Action

Learning Objectives

• Review cost of capital fundamentals
• Discuss the use of public company data in valuing the privately held business
• Explore the differences between small and large businesses
• Learn the basics of the Private Cost of Capital Method
• Discuss the advantages and disadvantages of the PCMP
• Quantify company specific risk for small businesses
• Maximize objective empirical

Single Connection Policy
Admission to this event authorizes one computer and phone connection for one location. These connections may be transferred users and/or locations. Multiple concurrent connections for a single admission registration are not allowed.

Multi-User CPE Policy
Admission to this program includes one CPE certificate for one individual. Any additional listeners requesting CPE must pay a processing fee assessed at the completion of the online CE survey for this course.

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CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group Internet-Based
Recommended CPE: 2 Credit Hours (Specialized Knowledge & Applications)

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