Concurrent Plenary Sessions

Experts Sabotaging Themselves in Court—The Judges Tell All

Friday, June 7
8:10 a.m.–9:50 a.m.
2 hours CPE
The official role of the valuation or financial litigation expert is to assist the trier of fact in interpreting and understanding the financial evidence. Many experts, however, are blindsided in the courtroom when they find out that their professional opinions are laden with landmines in the form of unverified evidence, unreasonable assumptions, risky leaps of faith, inappropriate protocol, and inadvertent departures from professional standards. In this session, Judges Gonzalez, Platt, and Yates will share the challenges that they have encountered with financial professionals and offer guidelines and approaches to solidify our opinions and persuasiveness in the legal environment.

After completing this session, attendees will be able to:

• Information forthcoming

Total CPE: 2 hours
Field(s) of Study: Information forthcoming

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

Honorable Judge Elizabeth Gonzalez

Honorable Judge Elizabeth  Gonzalez

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Honorable Judge Steven I. Platt (Ret.)

Honorable Judge Steven I.   Platt (Ret.)

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Honorable Judge Christopher P. Yates

Honorable Judge Christopher P.   Yates

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Michael Kaplan

Michael  Kaplan

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Reconciling Going-Concern Business Valuation Indications Derived from Multiple Business Valuation Methods

Friday, June 7
8:10 a.m.–9:50 a.m.
2 hours CPE
There is a substantial volume of literature covering business valuation methods, but a relatively limited volume of literature covering practice mechanisms that can be used to reconcile materially different going-concern business valuation indications derived from multiple going-concern business valuation methods. The prevailing practice mechanisms focus on ‘averaging’ separate business valuation indications derived from multiple methods and/or ‘informed judgment’ applied without a defined practice framework. Regarding the use of ‘averaging’, leading professional business valuation, accounting organizations, and scholars have not produced research supporting its use. IRS Revenue Ruling 59-60 states that “no useful purpose is served by taking an average of several factors.” Regarding the use of ‘informed judgement’, the literature offers no guidance or practice-framework on its application to reconcile materially different going-concern business valuation indications derived from multiple methods. This session introduces an “Alternative Practice Mechanism” (APM) that is the subject of a Doctoral study being completed by the presenter, Roy Salter. The APM is comprised of procedural, theoretic, and mathematical-elements that augment and organize prevailing going concern business valuation theories and methods that enable going-concern business value indications from multiple methods to be in-sync, while concurrently providing an approach to address those issues introduced in The Dividend Puzzle (Black, 1976). This session will summarize the literature and survey findings from Mr. Salter’s doctoral study research question that asks if a practice mechanism, reflecting the characteristics of the APM introduced in his study, reduce the vague and conflicting guidance of the literature’s prevailing practice mechanisms used to reconcile materially different going-concern business value indications derived from multiple going-concern business valuation methods?

After completing this session, attendees will be able to:

• Information forthcoming

Total CPE: 2 hours
Field(s) of Study: Information forthcoming

Who Should Attend:

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

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

Roy Salter

Roy  Salter

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