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
Learning Objectives:
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 Internet-based
Prerequisite(s): 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 and Moderator Bios
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.

Cost
$56.00 for NSAC Members / $70.00 for Non-Members

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.

What is NSAC's Cooperative Learning Network?
The NSAC Cooperative Learning Network is a live, interactive webinar, and you can attend from any location with internet and/or telephone access. NSAC members can attend an unlimited number of CLNs at no charge!

Each Cooperative Learning Network will have one or more speakers who are recognized experts on the topic. CLNs typically include a Q&A session where participants can ask questions live or by chat. No advance preparation or prerequisites are required, unless otherwise stated in the course information. Attendees are able to download copies of the slides and/or handouts and are provided a link to view the recording (unless the description states the session will not be recorded). These tools help continue your learning experience after the session.

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 (#103068) 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.nasbaregistry.org.

Delivery Method: Group-Internet Based.

Why NSAC Cooperative Learning Networks?

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

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

Easy.
A device with an Internet connection is all you need. If your device does not have sound capabilities, the ability to dial in from a telephone is available.

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

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