2024 ASA Winter Fair Value Conference (Virtual)

More About This Event

ASA Member Price: $250 | Non-Member Price $350

Thursday, December 5, 2024, Time: 1:00pm - 5:00pm ET 

This event offers up to 4.5 hours of ASA CE and *CPE credit.

The ASA Fair Value Conference offers a premier educational opportunity, gathering the profession’s thought leaders to spotlight the latest developments and trends in fair value. Check out the Agenda tab for a schedule and detailed list of presentation topics.

What You Will Learn
Join us for ASA’s 2024 Fair Value Conference, an exceptional learning opportunity tailored for business valuation experts. Our distinguished presenters  will deliver their sessions virtually, with full access to presentation materials and recordings available post-event.

Who Should Attend
Valuation professionals and accounting professionals involved in the development or review of fair value estimates prepared for financial reporting purposes.

Conference Session Platform
This virtual conference is being held via Zoom. Please be sure to review Zoom's System Requirements. See the Event Access tab to join the live virtual conference after registering.

Conference Chair
Raymond Rath, FASA | Managing Director | Baker Tilly US, LLP

NASBA and Continuing Professional Education (CPE) Credit

*ASA is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website https://www.nasbaregistry.org/.

CPE Credit: Up to 4.5 CPE credits
Program Level: Intermediate 
NASBA Knowledge Type: Specialized Knowledge 
Delivery Method: Group Internet Based 
Prerequisites: None 
Advanced Preparation: None 
Policies: ASA's Refund and Cancellation Policy and ASA's Complaint Resolution Policy

Conference Sponsor

Agenda

1:00 - 1:10pm
Welcome & ASA Update
Ray Rath, FASA, CFA, CEIV | Managing Director - Transactions & Financial Advisory | Baker Tilly US, LLP

1:10 - 1:50pm
ASC 360 Panel
PJ Patel | Co-CEO & Senior Managing Director | Valuation Research Corporation (VRC)
Adam Smith, ASA | Managing Director | PricewaterhouseCoopers
Christopher Armstrong | Principal | KPMG LLP

ASC 360, Property, Plant and Equipment and Other Assets, provides accounting guidance on impairment testing for finite lived assets – both tangible and intangible. Valuation guidance in this accounting standard is limited. Divergence in practice in the interpretation of the accounting requirements for ASC 360 contributes to uncertainties in correctly performing impairment testing. This session will cover key elements associated with ASC 360 requirements and related calculations.

1:50 - 2:40pm
AICPA Business Combination Guide - Key Items of Interest
Adam Smith, ASA | Managing Director | PricewaterhouseCoopers

Intangible asset valuations continue to be a challenging area of valuation. The AICPA issued a working draft of a Business Combinations guide on September 15, 2022. This session will discuss key areas of the guide that practitioners should be aware of.

2:40 - 2:50pm
BREAK

2:50 - 3:40pm
Understanding Calibration - With Applications for Valuing Privately-Held Company Securities with Secondary Transactions
Amanda Miller | Managing Director | Ernst & Young LLP

Calibration is a critical -- but widely misunderstood -- valuation tool. In this session, Amanda Miller will discuss why calibration is so important and highlight the requirements for using calibration for fair value measurements. She will also share examples from real applications, showing how to apply calibration in valuing privately-held company securities when there are secondary market transactions. Please bring your questions!

3:40 - 4:30pm
Company Specific Risk Premium
Anthony Pumphrey, ASA | Managing Director | Valuation Research Corporation (VRC)
Christopher Armstrong | Principal | KPMG LLP

The development of company specific risk premiums (CSRP) reflects significant divergence in practice. There is general agreement that risk is best captured in cash flow estimates rather than in an adjustment to a discount rate. The Appraisal Foundation has established a working group to develop guidance to improve practices in this area. A member of the working group will discuss various concepts of interest.

4:30 - 5:00pm
Intangible Asset Discount Rate Update
Charles Sapnas, CFA, ASA | Managing Director, Valuation Research Corporation
Elaine Young | Director, Valuation Advisory Services | Kroll

There is limited guidance on the determination of discount rates for intangible assets. Given divergence in practice, The Appraisal Foundation established a working group to develop a guide to improve practices. Members of the working group will provide an overview of key concepts to understand and techniques to apply to develop improved intangible asset discount rates.

Agenda subject to change.

Upon completion of this course, participants will be able to:

• identify key elements associated with ASC 360 requirements and related calculations
• recognize key areas of the AICPA Business Combination Guide that practitioners should be aware of
• apply calibration in valuing privately-held company securities when there are secondary market transactions
• examine current guidance to improve practice of company specific risk premiums (CSRP)