LIVE REPLAY: Valuation of Closely Held Companies

course

COURSE INFO

  • Presentation Date 9/23/2020
  • Next Class Time 11:00 AM MT
  • Duration 60 min.
  • Format Audio Webcast
  • Program Code 05292020c
  • MCLE Credits 1 + hours


Course Price: $89.00

COURSE DESCRIPTION

Virtually every transaction of a closely held company requires a valuation. The company may be selling itself or some of its assets; obtaining a loan or placing equity with new investor; or the valuation may be needed for trust and estate planning. But valuing a closely held company is much art as science because there is no regular and liquid market matching buyers and sellers. This can make valuation highly contentious as parties argue over add-backs, discounts and premiums, and how to “price” cash flow or earnings. And all the familiar calculations have been altered by recent tax law changes. This program will provide you a real-world guide to valuation methodologies, areas of common dispute, and drafting tips.

  • Valuation methodologies depending on the type of business or asset – asset-based, cash flow, market comps, and intrinsic value
  • Role of objective factors v. professional judgment
  • Impact of recent tax law changes on valuation
  • Valuation premiums and discounts – “fair market value” and “fair value”
  • Valuation drafting issues for lawyers
  • Costly valuation mistakes and how to reduce risk of dispute

 

Speaker:

Ronald L. Seigneur is a partner in Seigneur Gustafson LLP, a CPA firm located in Lakewood, Colorado, where he provides valuation, tax and retirement planning, and litigation support services.  He has published over 80 articles on business valuation and is co-author of “Financial Valuation: Applications and Models,” (2nd Ed.), a treatise on business valuation published by John Wiley & Sons.  He is a Certified Valuation Analyst with the National Association of Certified Valuation Analysts (NACVA) and holds the American Institute of Certified Public Accountants’ specialty designation of Accredited in Business Valuation.  He is an Adjunct Professor of Law at the University of Denver College of Law, where he teaches financial, management and leadership courses.  Mr. Seigneur earned his B.A. from Michigan State University and a MBA from the University of Michigan.