Work File Checklist for Identified Assets and Liabilities
Documentation requirements based on the Mandatory Performance Framework (MPF) for the Certified in Entity and Intangibles (CEIV) credential.
Work File Checklist for Discounts and Premiums
Documentation requirements based on the Mandatory Performance Framework (MPF) for the Certified in Entity and Intangibles (CEIV) credential.
CEIV quality control being finalized
The American Society of Appraisers (ASA) says that “important steps” have been taken to finalize the quality monitoring (QM) requirements for the Certified in Entity and Intangible Valuations (CEIV) credential.
Zyla Gives Update on Fair Value Developments
We attended the Southeast Chapter of Business Appraisers (SECBA) conference in Atlanta last month where Mark Zyla (Acuitas) talked about how the area of fair value is serving as a focal point for the profession to unify itself.
Work File Checklist for Selecting Guideline Comps
Documentation requirements based on the Mandatory Performance Framework (MPF) for the Certified in Entity and Intangibles (CEIV) credential.
A Practical Guide to Valuing Contingent Considerations
Do you know the key issues to consider when valuing contingent consideration? Join expert Jonathan Tang to broaden your knowledge with key findings on contingent consideration from The Appraisal Foundation working group exposure draft. Learn the limitations of the scenario-based method and when the option pricing method may be more appropriate. In addition, get practical tips with an in-depth case study including detailed examples showing how to apply each method.
Work File Checklist for Documenting Valuation Multiples
The Mandatory Performance Framework (MPF) sets out requirements regarding how a valuation expert should adequately document his or her work and thought processes when engaged in a fair value for financial reporting assignment. It was specifically designed ...
Work File Checklist for Growth Rate and Terminal Value
The requirements under the new credential for fair value for financial reporting should be considered best practices to anyone doing this type of work. Holders of the Certified in Entity and Intangible Valuations (CEIV) credential will have a work file re ...
Prospective Financial Information: Understanding and Applying the New (and Old!) Valuation Guidance
Management-prepared forecasts and projections, collectively referred to as prospective financial information (PFI), serve as the critical foundation for discounted cash flow methods. A recently issued document, "Application of the Mandatory Performance Framework (MPF)," provides suggested guidance for valuation professionals regarding the evaluation and use of PFI. David Dufendach will address key aspects of the new guidance that impact PFI, including the following concepts: professional skepticism, reasonably objective basis, and discount rate derivation.
Work File Checklist for Fair Value Overview Under New Regulations
Anyone doing fair value for financial reporting should comply with the requirements under the new CEIV credential whether they hold the credential or not. CEIV holders will have a work file reviewed within the first year they receive the credential and th ...
Valuation of Management Incentive Units
Management incentive units (MIUs) are a form of equity compensation issued by private companies to employees, management, directors, consultants or investors and can take such forms as restricted stock units, profits interests ,or profit-sharing units. MIUs have become increasingly popular in recent years due to more companies selecting to be structured as LLCs. Experts Patrick Guthrie, Stephanie Johnson, and Amanda Lessiohadi discuss management incentive units and help participants identify common issues and features to be ...
Fair Value and Valuation: Understanding the SEC, PCAOB, and Key Case Law
Valuation for fair value can be challenging. Deficiencies in the valuation process can result in exposure to regulatory scrutiny from the SEC or PCAOB and may result in enforcement actions or costly litigation—and corresponding damages or financial penalties. Regulatory oversight can be compounded with pressure from auditors and, of course, the clients themselves. In situations such as these, you want to make sure you have a good lawyer on your side. Attorneys Peter Anderson and ...
Work File Checklist for Discount Rates Under New Fair Value Regulations
Under the new requirements for fair value for financial reporting, valuation experts will be expected to have a certain amount of documentation in their work files. For holders of the new CEIV credential, a work file will be reviewed within the first year ...
Valuing Deferred Revenue
Are you confident in your understanding of revenue recognition? Do you value from the bottom up or top down? Is it for a business combination? Purchase price allocations pursuant to ASC 805 require fair value estimates for all acquired assets and liabilities. In certain industries, deferred revenue is a frequently occurring liability that requires valuation. In this webinar, Ray Rath will discuss the valuation theory and present the valuation of deferred revenue for ASC 805 ...
AICPA unveils new CVFI credential for financial instruments
Comments are due Sept. 26, 2017, on an exposure draft of a “disclosure framework” that establishes parameters of documentation requirements for the Certified in Valuation of Financial Instruments (CVFI) credential.
Certified in Entity and Intangible Valuations (CEIV): Advancing the Quality of Valuations
The field of business and intangible asset valuations has many of the elements of a profession. In recent years, comments by the SEC expressed concern about the structure of the business valuation profession and the lack of sufficient quality assurance procedures. As a result of these concerns, the Mandatory Performance Framework ("MPF") and Application of the Mandatory Performance Framework ("AMPF") documents were released in January 2017 to provide guidance including minimum performance standards and documentation ...
The Power of PWERM
Make your reservation for this case study-focused session starring the probability-weighted expected return method (PWERM). Using the backdrop of a clinical stage biotech company, you’ll observe the differences and similarities between the PWERM and the option pricing method. Join leading expert Annika Reinemann, who will lead a discussion of PWERM when challenged with several potential solutions. Whether you’re performing calculations with weighted average discount rates, underfunded cash flows, or the inclusion of future rounds, this ...
New fair value rules and performance standards highlight ASA event
New fair value regulations and the Mandatory Performance Framework (MPF) apply to everyone, not just holders of the new CEIV credential.
AICPA issues its first wave of CEIV credentials
The American Institute of CPAs (AICPA) has doled out its first batch of certifications for the new Certified in Entity and Intangible Valuation™ (CEIV™) credential for individuals doing fair value measurements.
Purchase Price Allocations for Banks
Purchase price allocations for banking and financial services M&A are a key offering for those working within the industry. Invest 100 minutes in this discussion with Rick Childs and Charles Clow, and understand the unique aspects of ASC 805 as applied to the banking/financial services industry. This balanced discussion offers something for beginners and advanced practitioners including a review of loan valuation and core deposit customer relationship intangibles. In addition to valuation professionals, this program ...
CEIV: Ready, Set, Go!
The new CEIV credential is upon us, as well as the new requirements of the Mandatory Performance Framework (MPF). As appraisers prepare to get the credential, they have many questions. This presentation will focus not only on the basics of the new credential and MPF, but it will also discuss practically what appraisers must consider when obtaining the credential. Join Bill Johnston for a discussion of the many implementation considerations of the MPF. Also covered ...
Monte Carlo: Applications, Examples and Best Practices for Valuation (eLearning course)
Valuing Hedge Funds
Join this advanced-level discussion of technical issues that arise in hedge fund valuations. Vladimir Korobov and Peter Rahe review the fundamentals such as typical fund management structures before moving on to valuation methodologies, such as the pros and cons of discrete DCF and Monte Carlo simulation-enhanced DCF. Become familiar with frequently encountered specific valuation challenges such as investment return expectations, reasonable compensation issues, and important discount rate(s) considerations.
Promoting Quality in Providing Fair Value Measurements for Financial Reporting
Preparing fair value measurements for financial reporting has become an increasingly large part of the activities of business valuation specialists. In a recent survey of the business valuation profession by The Appraisal Foundation, over 60% of respondents indicated that they participate in this subspecialty. The survey results also indicated that this was the largest of the business valuation subspecialties among respondents. Given the rigor surrounding financial statement preparation, auditing of financial statements, and the activities ...
FVQI exposure drafts comment period extended to August 24
You now have until August 24 to comment on two important exposure drafts that relate to the ongoing fair value quality initiative (FVQI) designed to improve financial reporting valuations for U.S. publicly traded companies.