The following is a list of our courses for Business Valuation Appraisers. To view the schedule of offerings, Click on the course title or the "Get Dates and Locations" button beneath the course.
ALL215 Appraisal Report Writing
Learning Objective: The objective of this multidiscipline course is to introduce students to the mechanics of appraisal report writing and to assist experienced professionals to improve their written appraisal reports. Topics address the difficulties of writing and how to overcome them, types of writing styles used in appraisal reports, critical thinking skills, argument analysis, logical fallacies and examples of good and poor writing.
Level: Intermediate
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BV201 Introduction to Business Valuation Part 1
Learning Objective: This course will introduce the novice practitioner to the three basic approaches to valuation. The valuation process as outlined in Revenue Ruling 59-60 will be the focus of the course, including instruction on how to do company analysis, industry and economic analysis and financial analysis. A full explanation of the Market Approach will emphasize the application of the subject company’s qualitative and quantitative analysis to the valuation process.
Level: Basic Recommended CPE: 27 Course is a Group/Live offering
BV202 Introduction to Business Valuation Part 2
Learning Objective: The basic theory and application of the income approach and its various methodologies is presented. Basic capitalization models and discounting models are shown in the context of earnings and cash flow measurements, as well as equity and invested capital assignments. In addition, the fundamentals of the asset approach will be taught.
Level: Intermediate Recommended CPE: 27 Course is a Group/Live Offering
BV203 Business Valuation Case Study
Learning Objective: Learning Objectives: This is a capstone course which applies the theory learned in BV 201 and 202 in an actual valuation case study. The subject company is analyzed in a group format. Lecture is only used to present each section of the case study. Groups of 4 to 6 students are responsible for deriving their own opinion of value.
Level: Advanced Recommended CPE: 27 Course is a group/live offering
BV204 Business Valuation Special Topics
Learning Objective: Instruction in five timely advanced valuation topics is presented. Approximately one half of the course is in valuation adjustments, including discounts for lack of marketability and lack of control, as well as control premiums. Other topics include tax issues in the valuation of pass-through entities, valuation in volatile markets, international cost of capital, and accounting for intangible value. The plan for BV 204 is to rotate the advanced valuation topics as needed.
Level: Advanced Recommended CPE: 27 Course is a Group/Live Offering
BV301 Valuation of Intangible Assets
BV301 focuses on key principles and real world applications for the valuation of intangible assets in a financial reporting context. This three day course includes specific references to relevant accounting guidance including audit requirements for fair value matters.
Key Topics include:
The course focuses on SFAS 141 – Purchase Price Allocations; SFAS 142- Goodwill Impairment; and SFAS 157 – Fair Value Measurement. Valuation for Financial Reporting: Fair Value Measurements and Reporting, Intangible Assets… by Michael J. Mard, ASA, James R. Hitchner, ASA and Steven D. Hyden, ASA. Hardcover; 240 pages (2007). This new 2nd edition is not required but is a good reference.
BV302 Special Topics in the Valuation of Intangible Assets
BV302 expands on the intangible asset valuation theory presented in BV 301. This three day course includes six distinct modules focusing on highly complex technical areas. Emerging areas such as the valuation of contingencies and the use of differential value methods are explored. Other longstanding areas that have challenged appraisers including attrition measurement and the valuation of covenants not to compete will be examined in depth. Areas of divergence in practice and significant controversy such as the valuation of two enabling assets (Primary Income Generating Assets as discussed in BV 301) will be covered. Several of the topics presented have limited published guidance in the valuation literature.
The course modules include:
The course will be of greatest interest to experienced valuation professionals with several years of intangibles valuation experience. Less experienced valuation professionals will also benefit from the course.
Similar to BV 301, ASA BV 302 was developed by a team of leading intangible asset valuation professionals including represents of the Big 4 and other major international accounting and valuation firms. The course has been vetted with leading valuation professionals from across the US.
CAVSCC Cost of Capital
Examination of criticisms of the CAPM --- understanding and ways to improve the inputs to the build-up and CAPM models — current evidence of the size premium --- methods of and issues with estimating company-specific risk --- practical models for use in international markets --- cost of capital for distressed companies --- other cost of capital issues such as estimating returns on venture capital investments and pass-through entities. The course material has been updated and emphasis will be placed on difficulties estimating cost of capital in these troubled economic times.
Level: Advanced
SE100 National Uniform Standards of Professional Appraisal Practice (USPAP)
Learning Objective: The objective of this course is to familiarize students with the recognized standards governing professional appraisals. This is the 15 hour National USPAP course approved by the Appraisal Standards Board of the Appraisal Foundation. Students are provided a current Uniform Standards of Professional Appraisal Practice (USPAP) manual and current book at the course site.
Level: Basic
SE100BV USPAP For Business Valuation
*NOTE: THIS COURSE DOES NOT MEET REAL PROPERTY LICENSING REQUIREMENTS! National Uniform Standards of Professional Appraisal practice designed specifically for business valuation appraisers.
SE101 National USPAP Update Course
Learning Objective: The objective of this course is to familiarize students with significant revisions to USPAP. This course is designed specifically for individuals who have completed the full USPAP course and only require updated information. This 7-hour update seminar covers critical changes and revisions to USPAP that significantly impact every practicing appraiser and lending officer.
Important Note: The 7-hour USPAP course does not meet the Appraisal Foundation’s USPAP continuing education requirements for Personal Property, Gems and Jewelry and Machinery and Technical Specialties practitioners. While PP/GJ/MTS practitioners may take this 7-hour update course for informational purposes (and for 7 hours of ASA continuing education credit), they must take a 15-hour USPAP course and pass the exam every 5 years to remain in compliance with the Appraisal Foundation requirements. This course may not be accepted by many state real property licensing boards and may not be accepted for CPE credit through other organizations (e.g. NASBA). It is your responsibility as the student to contact the licensing authority in your state to make certain that this USPAP course has been approved and will be accepted for credit.