2016 ASA Advanced Business Valuation Conference Wrap-Up

The American Society of Appraisers recently held its annual 2016 Advanced Business Valuation Conference on September 11-14, 2016 in Boca Raton, Florida at the Boca Raton Resort & Club. BV presented the most comprehensive Business Valuation educational programing available, taught by the world’s top Business Valuation professionals. This three-day conference offered attendees with three distinct educational tracks with highly focused educational sessions in areas of business valuation, fair value and a variety of specialized topics. The 2016 Advanced BV Conference was held in conjunction with ASA’s 2016 International Appraisers Conference, which allowed a unique opportunity for attendees to expand their global professional network and interact with attendees and exhibitors. BV’16 kicked off Sunday night with the Welcome Reception, allowing attendees to chat and network amongst each other.

Monday’s Keynote Presentation by Bernard Baumohl

The conference began Monday morning with opening remarks and introductions made by ASA’s Chief Executive Officer Jim Hirt and Region 2 Governor, Mike Pratt, ASA. ASA’s International President, Susan Golashovsky, ASA, had the pleasure in welcoming honored guests, organizers, sponsors, and exhibitors that attended this year’s conference. The morning continued with knowledgeable speaker, Bernard Baumohl, as this year’s keynote speaker. Using real-world examples and stories, Mr. Baumohl illuminated every U.S. and foreign indicator that matters to appraisers. With his energetic delivery and personal observations, attendees received excellent insight that kicked off the start of breakout sessions.

The first round of sessions included enhanced multiple corporate valuation model by Rajiv Gokhale; public company valuation credential by William Johnston, ASA, Nancy Czaplinksi, ASA, and Michael DeLuke; valuing government contractors by Kimberly Randolph, ASA; insights & applications from investment banking by Michael Poole; and supporting clients through the audit of fair value measurement and disclosure by Martin Mazin. Monday afternoon consisted of 5 sessions discussing the absurdity of CAPM, value allocations in complex capital, new developments in cost of capital, the valuation of complex FLPs, and professional standards & regulatory update. These presentations were taught by Pablo Fernandez; Charles Higgins; Roger Grabowski, FASA; Bruce Johnson, ASA; Drew Dorweiler, AM; and Adam Smith, ASA.

Attendees Biding On Auction Items

The Educational Foundation Auction and President’s Networking Reception followed Monday’s educational classes in the evening. The silent auction was a huge success, thanks to the donations being given to the Educational Foundation, which included collectables, trips, wine, food, books, and classes. The auction and President’s Networking Reception concluded the first full day of the conference. Photos from the Educational Foundation Auction can be viewed here.

Tuesday began bright and early with The End of Valuation Discounts? IRS’s Proposed Section 2704 Rules by William Frazier, ASA and John Russell as well as ASA’s first ever Multi- Discipline Mock Trail taught by Peter Gladstone, Roger Durkin, FASA, Gary Trugman, ASA, Jack Beckwith, ASA, Charles Rosoff, ASA, William Wilson III, FASA, and David Wolf, ASA, MGA. Educational sessions followed soon after with topics ranging from adjusting leverages, what appraisers need to know before rendering a fair opinion, and the usage of statistics to quantify lost profit being presented by Pablo Fernandez; Sean Wee; and Michael Crain and Bill Kennedy.

Attendees Listening to Presentations at IAC/BV

After the Business Valuation Committee Update and lunch, more thought provoking sessions took place. These sessions included the variable WACC/Capital structure framework by John Taylor, ASA and Yuka Itami; valuation of customer related intangibles by PJ Patel, ASA; state private capital markets by Craig Everett; patent litigation by Robert Schweihs, ASA; the valuation of cannabis related entities and intellectual property rights by Ronald Seigneur, ASA; the impact of economic environment on business performance by Ashok Abbott; contingent consideration by Daniel Kahn; and the risks and rewards of using controlled premiums under the new MPAP guidance by Eric Nath, ASA. Tuesday evening, held the Women’s Networking Reception and ASA’s Rising Starts event. These receptions gave attendees the opportunity to meet and network with prominent women across all of ASA’s appraisal disciplines as well network with growing professionals in the appraisal industry.

Wednesday was the last day of the conference and included 9 educational sessions taught by 10 experts in the field. Topics of discussion included valuation of shares by Gilbert Matthews; in search of value by John Finnerty; common flaws in BV reports by Arlene Ashcraft, ASA and Trey Stevens, ASA; when an option is not an option by Robert Schweihs, ASA; valuing foreign acquisitions by Neil Beaton, ASA; incorporating S Corp research by Nancy Fannon, ASA; valuing sports franchises by Drew Dorweiler, AM; how to effectively review an appraisal report by Timothy Lee, ASA; and private equity/venture capital valuation practice guide by Raymond Rath, ASA.

Those unable to attend the conference in person were able to sign up and view key sessions from the conference via live streaming online.

ASA hosted three BV pre-conference educational courses in Boca Raton including a US015-BV – 15-Hour Uniform Standards for Professional Appraisal Practice (USPAP) for Business Valuation; BV202-OOO – Introduction to Business Valuation, Income Approach; BV204-OOO – Advanced Topics in Business Valuation; BV301-OOO – Valuation of Intangible Assets.

Appraisal Builder Pro. Was One of the Many Exhibitors at IAC/BV

The American Society of Appraisers would like to thank HeliValue$, Inc.; Business Valuation Review; Sweeney & Bartlett; Crown of Light; Kersten’s Antiques; The M&TS Journal; Real Property E-Journal; Borrowman Baker LLC; NARMCO; GF Data; TagnFi; Cupitor; Appraisal Builder Pro; ASA PAC; International President and Conference Chair Susan Golashovsky, ASA; and the planning committee and advisors Matthew Kaufman, ASA; Gary Trugman, ASA; Juanita Addeo, ASA; Paul R. Cogley JR., ASA; Tom Simatos, ASA; Ronald Prat, ASA; and William Engel, ASA for all of their hard work and support. Photos from the 2016 Advanced Business Valuation Conference can be viewed here.

Save the Date! Make plans to attend the 2017 Advanced Business Valuation Conference at Houston, TX on October 7-10, 2017.

Thank you again to all of our sponsors for making ASA’s 2016 Advanced Business Valuation Conference a great success!