YS Advisory
Helping business valuation firms thrive

Continuing Education

The following list is provided to convey the types of session topics Ron Seigneur and Kevin Yeanoplos have  successfully produced and delivered to state CPA society conferences, AICPA national conferences, state Bar Associations, and NACVA state and national conferences in recent years for continuing professional education purposes.   All topics are supported by well formatted PowerPoint slide decks and all programs offer at least one additional take away in the form of checklists, bibliography, sample reports, etc.    Review copies are available upon request to state society CPE staff.  Call or email Ron at ron@ysadvisory.com for more information on any of these topics or other areas of interest you may be considering for your 2013 and 2014 educational conferences, roundtables or related continuing education venues.


Reasonable Compensation Determinations for Owner-Employees and the Adjustment for Productivity

This topic has been delivered with consistently high marks by Ron in a number of venues, including state CPA society BV conferences and both the AICPA and NACVA national BV conferences.  It is supported by a well received and detailed book authored in 2010 by Ron Seigneur and Kevin Yeanoplos, Reasonable Compensation: Applications and Analysis for Appraisal, Taxation and Management, that focuses on techniques, resources and case law related to owner-employee compensation determinations, including detailed references to landmark case law related to compensation related decisions.   It applies to all areas of business appraisal work as well as applications to tax planning and structuring. 

Lifecycle of a CPA Firm: Strategic Thinking for Firms in Transition

This session is focused on the growing number of professional service firms with a disproportionate number of owners over the age of 55 who are or should be considering alternatives.   Much of the content comes from Ron’s significant experience working with a number of professional services firms to tackle difficult decisions related to an aging ownership pool in many small to mid-sized practices.  Emphasis is given to both traditional tax and financial reporting practices, as well as non-traditional practices such as those involved in large amounts of consulting or litigation support services.

Exit Planning and Valuation for M&A Engagements

This topic is supported by a very detailed PowerPoint slide deck that provides insights into the exit planning process and valuation concepts applicable to investment/synergistic value assignments.  Ron has been involved recently in several engagements to assist owners of closely held businesses in professional practices in the positioning and transference of ownership and related wealth preservation strategies, allowing him to draw on this experience in delivering value to the audience for these sessions. A key focus is on the application of the investment value standard and the application of appropriate methodologies and sources of data used to derive value indications for merger, acquisition and related transition planning engagements.  Emerging issues with FINRA and the Series 79 license regulations are outlined, as are sources of EBITDA multiple transaction data.   It is ideal for practitioners who are involved in succession and exit planning engagements.

Ethical Responsibilities and Dilemmas in BVFLS Practice

This topic was originally designed to provide an alternative to traditional ethics CPE for BVFLS practitioners with a need to fulfill ethics credits for license reporting purposes.   An overview of applicable professional standards is provided, including aspects of the AICPA Code of Conduct and related interpretations that apply to BVFLS services.  Case study vignettes are used to stimulate discussion on issues and dilemmas challenging the participants to engage in discussions on “What would you do in this situation?” to explore solutions to commonly encountered problems.  These case studies focus on considerations involved in expert witness services, family law matters, undertaking BVFLS work for traditional tax and attestation clients, among other areas.

Common Errors in Business Valuation: Key Concepts, Emerging Issues and Take Away Points

This session starts with an overview of some of the Bogus BV services and promises being marketed on the Internet and then proceeds through a history of what has been identified as common errors in prior periods versus what are considered the most common pitfalls and errors in today’s business appraisal environment.  Mitigation of engagement risk and engagement management is addressed, including providing model engagement letters for both litigation and non litigation related situations. 

Building and Retaining Value in Closely Held Businesses

This topic and the related PowerPoint slide deck provide a detailed overview of how closely held businesses and their advisors can focus on risk management strategies to build and enhance enterprise value, using a conceptual framework outlined in the book Strategic Value Benchmarking  and similar resources.   Given the turbulent and recovering economy, Mr. Seigneur and his firm have been focusing more attention to work with closely held management and ownership to identify tactics and strategies to apply these principles in order to position businesses for future internal transfer or external sale.   Emerging professional standards including FINRA 79 requirements will be covered. 

Expert Witness Skills: Tips and Techniques to Improve Your Game on the Stand and in Depositions

Being able to articulate a point of view or professional conclusion with conviction and standing can open doors to opportunities as a testifying expert.  Having technical competence is a first priority but many practitioners can benefit from an opportunity to enhance their skills as an expert witness.  This session will provide an overview of proven methods to improve performance as an expert witness.   Dos and Don’ts are emphasized and attendees will leave with valuable resources to improve their abilities as an expert witness.

Cost of Capital in a Turbulent and Evolving Economy

This topic explores each of the elements included in the traditional methods to determine cost of capital including risk free rates, equity risk premia, and unsystematic (specific company) risk.   Emerging issues that challenge traditional thinking on size premia will be covered, as will the availability and use of industry risk premia data.  Comparing the use of a Morningstar/Ibbotson build up method the use of Duff & Phelps data will be covered.  The Pepperdine Cost of Capital data is explored.    

Dissecting the Debate on Discounts for Lack of Marketability and Liquidity

Ron had devoted substantial time in the last year researching over 50 recognized methods and models used to support conclusions on discounts for lack of marketability and for discounts attributable to a lack of liquidity.   The impact of volatility and holding period are explored together with the use of emerging models using LEAPS, option analysis and benchmarking.  The session will cover one or more actual examples of DLOM challenges by the IRS.   Landmark case law is also covered in the longer version of the session.

Advanced Business Valuation for Dummies

This presentation draws on a very detailed slide deck and has been used by members of our firm in several instances to provide a fundamental overview of business appraisal concepts, including standards and premise of value, valuation approaches and methodologies, valuation discounts and premiums, valuation reporting writing, common errors in business appraisal, professional standards, and how to locate and differentiate between valuation practitioners.  The session provided a great overview for those interested in business valuation fundamentals or who work with business appraisal specialists.

Business Valuation in Turbulent and Recovering Economy

This topic and the accompanying slide deck focuses on some of the unique issues and valuation characteristics that must be considered when valuing a closely held business in today’s turbulent and recovering economy, such as what is currently occurring in many sectors.   Implications of globalization, social media and the Internet are discussed. Some of the traditional approaches to value, including development of cost of capital, weighting of historical activity, and the proper use of guideline public company and transactional databases are examples of areas that require more attention and diligence in today’s troubled economy are addressed in this presentation topic.  

Estate Tax Planning Update for Family Limited Partnerships and Related DLOM/DLOC Opinions

This session draws upon Mr. Seigneur’s years of experience working closely with estate planning attorneys to produce useful analyses and reports in support of discounts for lack of marketability and lack of control in conjunction with estate and gift tax compliance services.   The session provides a brief overview of recent tax court case law, including the use of Hackl and Strangi II planning structures.   An overview of the recognized models for valuing pass through entities is provided, in addition to a recap of alternative strategies and emerging techniques and resources available to quantify lack of marketability discounts.

Building a Revenue Based Firm: Tips and Tactics to Enhance Revenues and Profits

This is a topic I have presented numerous times with a focus on law firm profitability and I have redesigned it to focus on accounting firms.   The session allows attendees to walk away with some solid ideas for application to their own practice to enhance the top and bottom lines.     

Breaking Up Is Hard To Do! The Taxing Financial Aspects of Marital Dissolutions

Breaking up is not just hard for the couple involved. Divorce engagements present all of us with many challenges when valuing small businesses and professional practices. How should we deal with unreported income? What if we suspect that management is being untruthful? What about an inability to get the documents we need? In this session we lead a discussion on the perils, pitfalls, and solutions to these problems and others.

Don’t Slam the Door on the Way Out: Transitioning the Family Business

The most important decision to make when starting a business is how and when to leave it. Many entrepreneurs start a new business with one thing in mind: grow it and get rid of it.  Unfortunately, too many business owners put off thinking about transitioning their business until they are ready to retire. In this informative session, we discuss the importance of developing an exit strategy.  We also explore the advantages and disadvantages of different exit strategies. Transitioning a business can be an awful experience if inadequately planned.  This session helps the business owner as well as business professionals to develop an effective exit strategy and improve both the financial and emotional payoff.

Practice Makes Perfect Practice: Managing an Effective Business Valuation Practice

It seems a little incongruous that an experienced professional still continues to "practice." It could be because we can just never seem to get it right. Many firms make the mistake of managing their niche departments in the same way as a traditional CPA firm. In this session, veteran valuation experts fill you in on the secrets of a successful business valuation practice. Topics will include: marketing a BV practice, management metrics for a BV practice, staffing a BV practice, advantages and disadvantages of specializing, developing a niche within a niche, and many others.

Things I Think I Think: The Identification and Valuation of Intellectual Property

Our clients all hope to come up with that one idea that will make them wealthy beyond their wildest imaginings. Yet what if the idea was right in front of them and they didn`t recognize it? In this seminar we provide tools to help your clients unlock the value of their ideas as we explore key issues related to recognizing, commercializing, defending and valuing assets our clients cannot see.

Unlocking the Mysteries of Key Person Value

The assessment of key person value has long challenged business appraisers. From identification to quantification, that challenge lies not in assigning a value to relationships, management abilities, experience, or inside knowledge, but to the person holding these intangible assets. In this session we critically examine what goes into determining a key person's value, and how to adjust the final determination of value accordingly. Attendees will learn not only how to identify these key attributes, but also how to quantify their value, what empirical data suggests about their worth, what valuation standards say about key person discounts, and what the courts have said about each of the steps along the way.

A Question of Balance: Exploring Work Life Challenges

In this session we take a look at the importance of balancing work and life. But it's easier said than done; this session offers specific tips, techniques and tools you can take away and use today along with helping you deepen your understanding of why it's so important, how it will positively impact your business and personal life and more.

All session materials are subject to copyright by Mr. Seigneur & Mr. Yeanoplos   


 
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