CD of a Teleconference with Q&A
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Assessing the value of businesses and their physical and intangible assets is a vital practice area for accounting firms. However, until recently, the profession had no specific standard to ensure consistent quality when it came to business valuation services.
That changed in June when the AICPA issued its Statement on Standards for Valuation Services No. 1 (SSVS No. 1). Effective with engagements accepted next year, accounting firms will operate under general guidelines for business valuations in M&A, litigation, financial reporting and other scenarios.
Chances are your accounting firms' valuation practices are not meeting all of the AICPA's new expectations. In addition, accountants accustomed to working under an American Society of Appraisers (ASA) or FASB standard must deal with the differences.
Listen as our panel of experienced valuation specialists from accounting firms of all sizes analyzes all key provisions of the AICPA's new standard and advises firms and their clients on adapting to the new rules.
Our panel includes:
Neil Beaton, Partner-In-Charge of Valuation Practice, Grant Thornton, Seattle. He specializes in SEC compliance valuations, including stock options and FAS 141 and 142 engagements. Previously, he was a partner at Brueggeman & Johnson in Seattle.
Mary O’Connor, Partner, RGL – Forensic Accountants and Consultants, Chicago. She has been a valuation specialist since 1979, working on business and intellectual property valuations.
Martin Lieberman, Partner in Valuation Practice, Weiser, New York. He has more than 30 years of experience on business valuation, accounting and tax services, and serves clients in a broad range of valuation assignments.
Ron Seigneur, Partner in Valuation Practice, Seigneur Gustafson, Lakewood, Colo. He has more than 20 years of valuation experience and works as an expert witness in several jurisdictions. He also serves on the AICPA’s business valuations subcommittee.
The panel reviewed:
- Key aspects of the new standard that require special attention and resources from your firm's business valuation group.
- Suggestions for mid-sized and small accounting firms with small or newer valuation practices.
- Insights for communicating the new rules to clients and to maintain transparency for those clients.
- Solutions for resolving conflicts with ASA standards, FASB's Standard No. 159 on financial assets and liabilities, etc.
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