What is NSAC's Cooperative Learning Network?
A NSAC Cooperative Learning Network is a live, interactive 60-minute conference presented over the telephone and over the Internet. You can attend from any location that has telephone and Internet access. You pay just one registration fee for as many participants as you wish at each call/log-in location.

Note that high-speed Internet access is not mandatory – the system works with dial-up but you must have separate connections for the audio and video portions. You may use cell phones for the audio if you have only one connection.

Who presents at one of these sessions?
Your Cooperative Learning Network will have one or more speakers who are recognized experts on the topic. Conferences typically include a Q&A session; you can ask questions by phone or instant messaging options.

CPE Credits
The National Society of Accountants for Cooperatives (NSAC) 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

Delivery Method: Group-Live.

CLN Policies
Refunds for CLNs are not provided. Registrants if unable to participate will be provided credit for a future CLN or may opt to be sent a copy of the CLN PODCast following the event. Note PODCasts are not eligible for CPE credit.

For more information regarding refund, complaint and/or CLN cancellation policies, please contact our offices at (937) 222-6707 or info@nsacoop.org.

What does my registration include?
Your registration includes long-distance charges for the audio portion and log-in to the video presentation. All handouts and presentation files are downloadable and may be printed out or saved to the participant's computer once they are logged in to the session meeting room. Sessions include one CPE Certificate of Attendance. Certificates for additional participants are $10.00 each.

Why NSAC Cooperative Learning Networks?

Fast.
No wasted time. Get right to the heart of the matter in a 60-minute session designed to easily fit into your busy schedule.

Convenient.
No airlines. No travel. No time out of the office. Listen and follow along from the comfort and convenience of your desk or conference room.

Easy.
A telephone and computer are all the equipment you need. Just dial in and log-in to the system. That's it.

Ideal for multiple attendees.
Use a speakerphone and projector and invite as many people as you want to participate - at no extra cost to you.

Affordable.
NSAC Cooperative Learning Networks are a fraction of the cost of travel and attendance fees for other high-priced conferences or seminars.

Cooperative Learning Network

Business Valuations
Date: Wednesday, February 15, 2006
Time: 11:00 AM ET / 10:00 AM CT / 09:00 AM MT / 08:00 AM PT [Prevailing Time]
Presenter(s): Rick Burns, PhD
Objective: Participants should come away with a basic understanding of both the theoretical and practical foundations of business valuation.
Field of Study: Taxation
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group-Live

No advanced preparation or prerequisites are required for this course.

Course Description
There are four basic purposes for valuing a business: to facilitate a transaction, to satisfy a tax requirement, to satisfy a regulatory requirement, and to support litigation. Included among the many specific reasons to value a business are the following: mergers and acquisitions, sales and divestiture, administering an ESOP, purchase price allocation, estate and gift tax purposes, and divorce settlement, among many others.

This course first provides an overview of the basic valuation process considered in a framework of a series of logical sequential steps. Each step will be discussed individually. However, the emphasis of the course will be placed on the common approaches to business valuation and selected methods within each approach. Although the Discounted Cash Flow (DCF) method will get considerable attention, discussion will also be devoted to other methods including the use of market multiples and industry rules-of-thumb.

Presenter Bio(s)
Richard M. (Rick) Burns holds a doctorate in finance from the University of Georgia. Dr. Burns has served on the finance faculty of the University of Alabama at Birmingham (UAB) School of Business/Graduate School of Management since the fall of 1987 including serving as Chair of the Department of Finance, Economics and Quantitative Methods from 1999-2003. Dr. Burns has a primary interest in corporate finance, and his teaching, research, and consulting interests include business valuation, capital budgeting, working capital management, and small business finance. He has developed and teaches a graduate finance seminar course in the valuation of closely held businesses and interests therein at UAB. This elective course has been successful in attracting MBA, Master of Accounting, and graduate students in Health Administration at UAB.

Dr. Burns has conducted and published research efforts supported by successful graduate school research grant competitions involving working capital management, capital budgeting practices, and sales forecasting practices as they relate to financial management among small businesses. Other publications include works that develop and apply DCF models in valuation, and analyze the stock performance of IPO's and merger participants. He has served as state representative, and Treasurer of the Southeast Chapter of The Institute of Business Appraisers (IBA), is a charter member and past President of the Academy of Entrepreneurial and Small Firm Finance (AESFF) and is a long time participant in the Financial Management Association and Southern Finance Association, in which he currently serves as a Director.

A PODCast of this workshop is now availble. Click here to order/view.

Additional Information

For more information regarding this series or administrative policies such as complaint and refund, please contact the NSAC National offices, 136 S. Keowee St., Dayton, OH 45402, 937-222-6707, email: info@nsacoop.org