Current Trends

The Due Diligence Imperative in the Era of Value-Based Reimbursement

Thursday, June 6
10:10 a.m.–11:50 a.m.
2 hours CPE
With the emergence of value-based reimbursement, such as accountable care organizations (ACOs), clinically integrated networks (CINs), and bundled payment models, which rely on achieving the “Triple Aim” of healthcare at lower cost, U.S. hospitals and other service providers are increasingly looking to change how services are being delivered by seeking more collaborative relationships with physicians. The rise of these emerging healthcare organizations (EHOs) to address value-based reimbursement initiatives has led to a growing number and complexity of transactions in the healthcare delivery marketplace, accompanied by increased federal and state regulatory scrutiny regarding the legal permissibility of these arrangements. Therefore, now more than ever, conducting a level of due diligence appropriate to the scope and complexity of a given assignment is critical to the transactional risks (financial, operational, and regulatory) that may impact the development and defensibility of the valuation opinion. This session will discuss the due diligence process of a healthcare transaction within the Four Pillars of Healthcare Valuation, i.e., regulatory, reimbursement, competition, and technology.

After completing this session, attendees will be able to:

• Describe the regulatory and compliance issues arising from healthcare transactions that are necessitating the increased importance of the due diligence process
• Define the two distinct classes of information required for the due diligence and explain its applicability to the healthcare valuation process
• Identify sources of information that will allow for the appropriate level of analysis required of a transaction in the changing healthcare industry and of the development of a credible valuation opinion

Total CPE: 2 hours
Field(s) of Study: Economics—1 hour; Regulatory Ethics—1 hour

Who Should Attend:

CPAs, valuators, practitioners, etc.—anyone interested in developing and advancing their skills for this topic.

Program Level and Prerequisites:

Basic: Learning activity level most beneficial to individuals new to a skill or an attribute.

Advanced Preparation:

None

Jessica Bailey-Wheaton

Jessica  Bailey-Wheaton

Read Biography

Todd Zigrang

Todd  Zigrang

Read Biography

Valuing Capital Intensive Businesses

Thursday, June 6
12:50 p.m.–1:40 p.m.
1 hour CPE
The purpose of this session is to teach attendees how to evaluate and appropriately select a valuation method for capital intensive businesses. Walking through four examples, I will show the different factors that have an impact on which valuation method is most appropriate. I discussed this topic with Carl Steffen and how it fits in with Change, Challenge, Opportunity—Your Journey to the Top. I intend to tailor the examples to assist valuators to cope with the fast changing business world and for relevance to the host city in Utah. Using relevant examples my intention is to tie in the examples to the conference theme of Change, Challenge, Opportunity—Your Journey to the Top!

After completing this session, attendees will be able to:

• Identify the appropriate valuation approach
• Differentiate between different types of capital intensive businesses
• Define appropriately what type of business should be considered capital intensive

Total CPE: 1 hour
Field(s) of Study: Accounting—1 hour

Who Should Attend:

Business valuators, executives and practitioners performing valuations.

Program Level and Prerequisites:

Intermediate: Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Advanced Preparation:

Basic understanding of valuation approaches and methodologies.

Paul Mandel

Paul  Mandel

Read Biography

ICOs, Blockchain, and the Internet of Value—The New Capital Market for Consultants

Thursday, June 6
2:00 p.m.–3:40 p.m.
2 hours CPE
Blockchain technology has given rise to an “internet of value”, where value is exchanged as fast as e-mail, but without the control of a single entity, creating an entirely new capital market. What if instead of buying one Starbucks Coffee in August of 2010, you bought $2 worth of bitcoin? You'd have a liquid, albeit volatile, asset worth over $100,000 today. Transferring one of those bitcoins to the Ethereum ICO Bitcoin address in August of 2014 would have gotten you 2,000 Ethers (a smart contract cryptocurrency) in return, netting more than $224,000 on top of the $100,000 of appreciation you gained on bitcoin as of today. All of this from one forgone cup of coffee, without seeing a broker, banker, lawyer, or other intermediary or even driving to Starbucks.

However, like debt and equity markets, crypto markets are subject to the risks of asymmetrical information, fraud, theft, and fake news. In under two hours, this session will give you the opportunity to receive cryptographic tokens during the presentation, generate your own cryptocurency and smart contracts, and apply a new valuation framework to a trading Internet Coin Offering (ICO).

Bring your phone, a piece of paper, and a hunger to change the world from the comfort of your seat.

After completing this session, attendees will be able to:

• Describe how Bitcoin and Ethereum work using language an eighth-grader can understand
• Counter asymmetric information using your expertise combined with blockchain technology and minted fake financial news
• Be able to describe the risks, benefits, and position on the risk spectrum of an initial coin offering compared to debt and equity offerings
• Recite, in general terms, the elements of the Blockchain Utility Asset Valuation Framework (Blockchain UAV Framework)
• Apply the Blockchain UAV Framework to the POA Networks Utility Token case study

Total CPE: 2 hours
Field(s) of Study: Accounting—1 hour; Finance—1 hour

Who Should Attend:

CPAs, valuators, practitioners, etc.—anyone interested in developing and advancing their skills for this topic.

Program Level and Prerequisites:

Overview: Learning activity level that provides a general review of a subject area from a broad perspective.

Advanced Preparation:

None

Lorenzo Carver

Lorenzo  Carver

Read Biography

Transaction Structures—Impact on Value and Taxes

Thursday, June 6
4:00 p.m.–4:50 p.m.
1 hour CPE
Structuring a business sale transactions can affect the cash flow from a potential sale as well as the taxes that would be paid on a sale. The structure ultimately affects the value a buyer is willing to pay or a seller is willing to accept for a transaction. In this session, attendees will learn about how the structure of a transaction could affect the ultimate

After completing this session, attendees will be able to:

• Outline various options for structuring transactions (stock, asset, earn-out, etc.)
• Describe the impact of contingent liabilities (lawsuits, environmental, etc.)
• Identify Earn-outs—Considerations and impact on value
• Create non-compete and consulting agreements
• Define Personal Goodwill
• Determine the value of stock as acquisition consideration and related risk
• Define employee benefits and management compensation

Total CPE: 1 hour
Field(s) of Study: Accounting—1 hour

Who Should Attend:

Practitioners, CEOs, attorneys

Program Level and Prerequisites:

Intermediate: Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Advanced Preparation:

None

Lisa Cribben

Lisa  Cribben

Read Biography

Divorce Taxation Including the Impact of the 2017 TCJA

Friday, June 7
10:10 a.m.–11:50 a.m.
2 hours CPE
An overview of divorce taxation covering the “old” law, repealed by the December “Tax Cuts and Jobs Act (TCJA)” (P.L. 115-97), and the new tax provisions. The “old Law” under IRC Sections 71 and 215 remain in force for pre-2019 Agreements, thus understanding the parallel tax systems in place is critical. This session will also review Sec. 1041, Property Transfers Pursuant to Divorces, QDROs, and a brief discussion of the impact of TCJA on business valuation.

After completing this session, attendees will be able to:

• Compose an outline of IRC Sections 71 and 215
• Describe how TCJA impacts divorce business valuations
• State the impact of TCJA on Antenuptials, Post-Divorce Actions, and general case settlement negotiations

Total CPE: 2 hours
Field(s) of Study: Taxes—2 hours

Who Should Attend:

CPAs, valuators, practitioners, etc.—anyone interested in developing and advancing their skills for this topic.

Program Level and Prerequisites:

Basic: Learning activity level most beneficial to individuals new to a skill or an attribute.

Advanced Preparation:

None

Jeff Urbach

Jeff  Urbach

Read Biography

Maintaining Operational Business Entities through Incapacity and Death

Friday, June 7
12:50 p.m.–1:40 p.m.
1 hour CPE
Incapacity or death of a business partner can wreak havoc on day to day operations and threaten the viability and success of a business entity. This session will provide the legal solutions and processes available to maintain an operating and successful business in the event of the incapacity or death of a business partner.

After completing this session, attendees will be able to:

• Analyze business succession documents to determine if the business entity will be at risk should there be a deceased or incapacitated partner
• Identify the need for a guardianship/conservatorship or estate administration to protect the operations and viability of the business
• Define the legal processes of guardianship / conservatorship, probate, and estate administration to clients

Total CPE: 1 hour
Field(s) of Study: Business Law—1 hour

Who Should Attend:

This presentation will cover a topic that is valuable for a wide-array of business and financial services professionals, including, CEOs, CPAs, Attorneys, CVAs, MAFFs, ABARs designees, Master and Certified Business Appraisers, etc.

Program Level and Prerequisites:

Overview: Learning activity level that provides a general review of a subject area from a broad perspective.

Advanced Preparation:

None

Avery Mayne

Avery  Mayne

Read Biography

Kelly Dancy

Kelly  Dancy

Read Biography

People, Money, and Patterns©

Friday, June 7
2:00 p.m.–3:40 p.m.
2 hours CPE
Patterns are ubiquitous within data. They are essential to support forensic observations and opinions. Patterns are inherent within forensic assignments and transcend financial data into virtually any kind of findings.

Patterns can be discerned, measured, and interpreted using one or a combination of visual, time, and variation techniques. Significantly, such analysis preempts the mere professional judgment as a preface to opinions.

After completing this session, attendees will be able to:

• Identify and apply patterns affecting every human sense in written, auditory, and visual form
• Convey their findings in simple, logical, straightforward and persuasive formats to virtually all levels of learning skills and knowledge

Total CPE: 2 hours
Field(s) of Study: Accounting—2 hours

Who Should Attend:

Any practitioner interested in advancing his or her craft.

Program Level and Prerequisites:

Advanced: Learning activity level most useful for individuals with mastery of the particular topic. This level focuses on the development of in-depth knowledge, a variety of skills, or a broader range of applications.

Advanced Preparation:

A desire to gain knowledge beyond the ordinary.

Darrell Dorrell

Darrell  Dorrell

Read Biography

Understanding Customer Supply Chain Demands

Friday, June 7
4:00 p.m.–4:50 p.m.
1 hour CPE
This session identifies the operational and technical requirements supplier/vendor companies must understand and excel at if they are to be great supply chain partners. In an age of commodity products and cut-throat challenger, industries like retail, grocery, pharmaceutical, medical, and government, have no tolerance for supply chain disruptors. Supply chain execution is the new competitive edge. In business valuations and M&A considerations, the failure to recognize flawed operations and software systems results in overvalued companies and more time and money devoted to fixing problems with longer lead times needed before the business can be a worthwhile competitor, if not too late.

After completing this session, attendees will be able to:

• Differentiate the supply chain demands between different types of customers
• Describe the supply chain terms and their meanings
• Identify the significant impacts supply chain compliance has to various operational departments within an organization
• Define the supply chain software systems and technologies a company must embrace to be successful
• Recognize some of the pros and cons of in-house versus out-sourcing of supply chain operations and technology functions
• Identify supply chain operations and technology failures during a business valuation or M&A consideration

Total CPE: 1 hour
Field(s) of Study: Business Management & Organization—1 hour

Who Should Attend:

CEOs, CFOs, CIOs, COOs, VPs, practitioners. Professionals involved in business growth or M&A activities who are judging businesses for their functionality or capability. Executives who are concerned that their organizations are not situated for competitive business growth or are ready to meet the expectations of their customers.

Program Level and Prerequisites:

Overview: Learning activity level that provides a general review of a subject area from a broad perspective.

Advanced Preparation:

None

Norman Katz

Norman  Katz

Read Biography