BV101 Basic Fundamentals of Business Valuation
Includes Multiple Live Events. The next is on 03/24/2025 at 10:00 AM (EDT)
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You must log in to register
- Non-Member - $950
- Member - $950
This live class has a registration cap. We highly recommend registering as soon as possible to secure your spot. For any questions, please contact education@appraisers.org
Class Date/Time
Monday, March 24, 2025 - Wednesday, March 26, 2025
10:00am-6:00pm Eastern Standard Time
Class registration will close on Friday, March 21, 2025.
Registration Includes
- Access to virtual zoom sessions will be accessible via education dashboard (login required)
- Electronic student materials*
*All course materials included with your registration are PDF Download Only items made available to students prior to the start of the class and are not for resale or distribution. All downloadable materials are accessible via your education dashboard (login required). Once eMaterials have been posted for download, the class is no longer refundable.
Class Schedule
(All Times are Eastern US)
- Day 1 - Monday, March 24, 10:00am - 6:00pm
- Day 2 - Tuesday, March 25, 10:00am - 6:00pm
- Day 3 - Wednesday, March 26, 10:00am - 6:00pm
Please note: Partial credit will not be awarded for this offering. Students must participate in all the live session(s) virtually to complete the course and receive full credit. The virtual session(s) will not be recorded and/or made available after class.
Continuing Education (CE) Credit
28.8 ASA CE Instructional Hours
NASBA and Continuing Professional Education (CPE) Credit.
Policies: ASA's Refund and Cancellation Policy and ASA's Complaint Resolution Policy. 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 www.learningmarket.org
CPE Credit: Up to (28.8) CPE credits in Specialized Knowledge
Program Level: Fundamental
Delivery Method: Virtual
Prerequisites: None
Advanced Preparation: None
Policies: ASA's Refund and Cancellation Policy and ASA's Complaint Resolution Policy
Important: This course has not been accepted by any state real property licensing board nor has it been approved for CE credit for state licensing of real property appraisers. The course offers CE credit which may be used toward fulfilling hours for ASA’s reaccreditation program.
Course Description
This three-day, interactive course provides a high-level overview of general business valuation concepts without regard to the specific standard of value or purpose of the valuation. The course provides a fundamental understanding of the application of valuation approaches and methods to arrive at an opinion of value through the use of a case study and incorporates individual and group classroom exercises to emphasize other important business valuation concepts. Specifically, the course provides a basic overview of the following topics:
- The Foundation of Business Valuation;
- Introduction to Business Valuation;
- Definitions and Terminology;
- The Valuation Process;
- Introduction to the Income Approach;
- Components of a Financial Statement;
- Adjusting the Financial Statement;
- Developing Rates of Return;
- Financial Forecasting;
- Introduction to the Market Approach;
- Introduction to the Asset Approach;
- Discounts and Premiums; and
- Reconciliation of Values.
- Instructional Methods
Instructional Methods
Instructional methods include lectures, discussions, and individual/ group exercises and assignments.
Course Audience
This course is most beneficial to those interested in pursuing a career in the business valuation profession, those who are new to the business valuation profession, those who are interested in an introductory study in basic concepts of business valuation, and/or users of appraisal reports who wish to gain a better understanding the valuation process.
Learning Level
Fundamental
Upon completion of this course, students will be able to:
- Have an understanding of business valuation standards used in the profession.
- Define the purposes and users of business appraisals.
- Learn the definitions of business valuation terms.
- Understand the various profitability measurements used in a given business valuation assignment.
- Assemble and request the necessary information to perform the business valuation engagement.
- Develop discount and capitalization rates and distinguish their use in the two income-based methods.
- Prepare normalizing financial adjustments for business valuation purposes. This includes adjusting the income statement and balance sheet.
- Apply commonly used models for financial forecasting.
- Recognize when to select a method from each of the income, asset or market approaches for a given valuation assignment.
- Adjust terms to cash equivalent valuation multiples from the market-based methods.
- Understand the application and errors in applying discounts for lack of marketability and control issues.
- Complete the course exercise in valuing a dental practice using the information learned over the three-days.
eMaterials
All course materials included with you registration are PDF Download Only items made available to students prior to the start of the class and are not for resale or distribution. All downloadable materials are accessible via your education dashboard (login required). Once eMaterials have been posted for download, the class is no longer refundable.
Accessing eMaterials
eMaterials are provided electronically in PDF format and posted to the class within the education dashboard for all registrants to securely access prior to the start of class. Attendees should come to the class prepared with an electronic or printed copy of all eMaterials to use as a refence during class. PDF course materials are presented in color, are bookmarked, and comment enabled. When opting to print downloadable materials, it is recommended that settings be adjusted to print in black and white (or grayscale) and consider printing double-sided on recycled paper.
Certificate of Completion
A certificate will be available for access/download immediately via your education dashboard once all required post-course components are completed.
Laurie-Leigh White, CPA/ABV, ASA
Partner
BVA Group
Laurie-Leigh White is responsible for overseeing the execution of a variety of valuation and litigation engagements. Areas of specialization include energy, technology, distribution, and construction and engineering.
Ms. White has been involved in thousands of valuation projects for a wide variety of purposes, including financial reporting, ESOP, valuations for tax purposes, transaction advisory, and fairness opinions. Additionally, Ms. White has been involved in litigation consulting assignments related to economic damages, financial forensics, marital dissolution, and valuation matters.
Ms. White received a Master of Science in Accounting, a Bachelor of Business Administration in Accounting, and a Bachelor of Arts in Political Science from Southern Methodist University, where she graduated with highest honors. Ms. White was selected as a recipient of the 2020 American Society of Appraisers Rising Stars award and the 2016 AICPA Forensic and Valuation Services Standing Ovation Recognition award. Both awards are designed to recognize professionals in the forensic, litigation and valuation practice areas who are 40 or under, hold certain valuation-related credentials, and have exhibited exemplary professional achievement. Additionally, Ms. White was recognized as an honoree in the Houston Business Journal’s Women Who Mean Business 2019 class. This award honors Houston’s most successful women business leaders in a variety of for-profit and nonprofit industries.
Ms. White has spoken at multiple conferences, primarily on advanced ESOP, tax and financial reporting valuation issues. She also is a contributing author to Financial Valuation: Applications and Models, 4th Edition (April 2017) and 5th edition (in process), as well as Valuing a Business, 6th Edition (March 2022).
Liza Bowersox, ASA
Managing Director
Weaver
Liza Bowersox, ASA, has more than 23 years of experience in valuations in a wide variety of industries including financial services, infrastructure, real estate, health care, consumer goods, retail services, professional services, cyber risk, construction, insurance, automotive, logistics, pharma/life science, advanced manufacturing and software. For three years before joining Weaver, she was Managing Director with Artemis Valuation and Advisory. Liza has issued valuation opinions for a variety of purposes including estate and gift tax planning, buy/sell planning and administration, shareholder redemption, corporate planning, issuance of equity in limited liability companies and limited partnerships, investor due diligence, fair value for financial reporting purposes (ASC 350, 805, 718, and 820) and valuation of complex securities (warrants, options, profit units, SAFEs, convertible debt, preferred stock). She provides litigation support and has testified in federal court cases concerning lost profits and economic damages.
Liza is a member of the American Society of Appraisers (ASA) and is on their Business Valuation Committee and their Education and Conference subcommittees. She is an ASA Delegate to the Environmental, Social and Governance Working Group formed by the ASA and is a member of the Canadian Institute of Chartered Business Valuators (CBV Institute); the Institute of Valuers and Appraisers, Singapore (IVAS) and the Royal Institution of Chartered Surveyors (RICS), whose purpose is to collaborate and drive global efforts to measure the impact of ESG factors on corporate valuation.
Liza is an Accredited Senior Appraiser, designated in Business Valuation (ASA); a board member of the Estate Planning Council – Richmond, Virginia chapter and a member of the Association for Corporate Growth – Richmond, Virginia chapter. Liza earned her Bachelor of Arts in economics and government from the University of Virginia where she serves on the board of the College of Arts and Sciences Foundation.
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