Fvs Podcasts

AI is becoming increasingly important in managing, analyzing, and optimizing investments and influencing how we navigate the interdependencies of capital and data flows, reporting, and legal and regulatory requirements in the private markets.  This discussion between experts Andreas Dal Santo of BlueVal, Chandu Chilakapati of Aprio, and Prof. Michael Weinberg of Columbia Business School – practicing experts in finance, investment, and valuation - highlights many of the benefits, challenges, and future potential of AI in the world of alternative investments and financial instrument valuation.   AI encompasses numerous subcategories, each with different applications, risks, and opportunities No clear uses for AI in alternative investments and valuation without continued human oversight AI might result in some industry jobs being lost, but there will likely also be new types of jobs created Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses. Guests:  

Dave and Lisa explore the intricacies of the market approach highlighting the importance of using reliable market data and multiple valuation approaches to achieve accurate results. They discuss how risk factors and company size influence valuation multiples and provide practical tips for applying these concepts in real-world scenarios. Key takeaways include: Combining income, market, and asset approaches helps mitigate the risk of skewed valuation results Understanding and adjusting for risk factors, such as customer and supplier risks, is crucial in determining accurate valuation multiples. Market multiples should be adjusted for forward-looking earnings and industry-specific risks to ensure they reflect the true value of a business. Guest: Lisa Cribben, CPA/ABV, Partner, Hawkins Ash CPAs Host: David Consigli, Jr. CPA/ABV, CDFA, Partner, FAZ Forensics Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces,

This is a refreshed version of an episode from July 2021. Some voice distortion may be present. Please scroll down to find links to essential resources that have been developed since the original publish date.  In this episode, we explore the many paths available to accounting and finance majors who aspire to work in forensics and valuation services particularly as an expert witness. Dean Driskell tells his journey as a forensic accounting and valuation professional. He and host, Josh Shilts, share pivotal moments that have defined their careers and the skills they consider essential for success. Key Topics Discussed: Insights into the diverse career opportunities within the profession Practical advice on how to navigate the intersection of finance and accounting through the different stages of one’s career Understanding your audience and how it can impact your effectiveness as a professional Strategies for developing and honing skills that are essential for success and how to find opportunities to improve t

In the evolving world of alternative investments, AICPA's "PE/VC" guide often is only a starting point in the valuation of complex financial instruments.  Valuation specialists in this field often combine non-authoritative references, textbook and academic journals, whitepapers, best practices, and legal precedents to supplement formal guidance and financial theory.  Ms. Antonella Puca, a valuation practitioner decided to write her own book, “Early Stage Valuation, A Fair Value Perspective”.  We will discuss her journey and hear how she addresses: Presenting technical complexity, and other new author challenges Influence of the fair value perspective on the scope and perspective of the book Ongoing relevance of valuation concepts despite economic and industry changes Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses. Guest: Antonella Puca, Partner, BlueVal Host: Howard Mah-Lee, Senior Manager, AICPA Valuation Services Please share your thoughts abou

Catherine and Nathan, both seasoned CPAs and ABVs, discuss the complexities of subsequent events in business valuation. They explain the definition, implications, and relevance of these events in contexts like estate and gift tax transactions. Their conversation covers how these events can affect or indicate value, the standards and court rulings involved, and the challenges of determining what is known or knowable at the valuation date. Key Takeaways: Definition of subsequent events are particularly relevant in litigation, estate, and gift tax transactions Known or knowable at the valuation date, but courts may sometimes consider subsequent events differently Importance of providing additional information to courts without muddying the valuation process Guests: Catherine Stoddard, CPA/ABV, Stoddard Consulting PA Nathan Duke, CPA/ABV, Senior Manager, Forvis Mazars US Host: David Consigli, Jr. CPA/ABV, CDFA, Partner, FAZ Forensics Please share your thoughts about the episode - click here to leave us a review

Dissenting shareholder disputes occur when minority shareholders believe their shares are undervalued in a company transaction, leading to legal dissent. There is a difference between dissenting and oppressed shareholder matters which our expert, Hubert Klein, will explain as well as the legal and valuation standards that are used.   Klein highlights the importance of transparency and professional skepticism and thorough understanding of both sides' perspectives, such as: Common triggers for dissenting shareholder actions Preventing dissenting shareholder issues Reconciling valuation differences Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses. Guest: Hubert Klein, CPA/ABV/CFF, Partner and Practice Leader, Eisner Advisory Group LLC  Host: Alex Partin, CPA/ABV, Mueller & Partin  Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standi

The discussion underscores the importance of participating in professional communities like the AICPA FVS Section for continuous learning and support.  Bethany and Tade highlight how the FVS community has significantly contributed to their professional growth by providing key resources to assist with client engagements and a supportive community of professionals.    Using FVS Section resources in client work Networking benefits – connecting with supportive SMEs Community involvement aiding professional development Continue reading to learn about key resources available at AICPA-CIMA.com Guests:   Bethany Hearn, CPA/ABV, Partner, MH CPA PLLC and Tade Akinkugbe, ABV, ASA, Senior Manager, KPMG Host: Josh Shilts, CPA/ABV/CFF/CGMA, Director, Dean Dorton Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES MENTIONED IN THE EPISOD

Simple Agreement for Future Equity (SAFEs), convertible notes, and embedded derivatives are among financial instruments which feature optionality, which can obscure confidence in the expected value of the associated future economic benefits.  Published guidance is limited, and adding to the complexity, some alternative investment transactions have optionality features lurking within, dormant, and not readily apparent.  This presents a wrinkle for practitioners who try to value assets which could morph into something else tomorrow.  Listen to how specialists in this area approach these issues, and read below for key AICPA resources to improve your own valuation analyses. Key Takeaways Applications and limitations of formal valuation guidance How optionality characteristics influence financial instrument design Best practices for valuing instruments with optionality features Approaches for early stage assets lacking underlying valuations Guests: Oksana Westerbeke, Partner, and Jared Hannon, Director, Grant Th

To celebrate Women's History Month, we are excited to share a special episode for our FVS Valuation podcast which explores the diverse backgrounds of several business valuation leaders, their paths into a career in business valuation, and their journeys to becoming experts in the field.  The conversation highlights the many routes that can lead to success in business valuation, including  The significance of obtaining the Accredited in Business Valuation (ABV) credential and how it has impacted their careers Their strategies for achieving a healthy work-life balance while excelling in their professional roles The role of mentorship and support systems in their career development and success Please be sure to register for our upcoming Fireside Chat on Tuesday, 3/25, where we will have an extended conversation with our esteemed guests and gain further inspiration and insights from their experiences. Register now to secure your spot!  Guests:  Bethany Hearn, CPA/ABV, Partner, MH CPA PLLC Kathy Johnson, CPA/ABV

In early 2025, the new US administration has been implementing changes which could affect regulatory oversight in private markets and alternative investments. Transparency in asset valuation is vital, especially where regulation is limited. Inadequate valuations or outdated financial reports can negatively impact investor decisions, leading to market inefficiencies and reduced confidence. Our presenter, an expert in private market valuation, provides insights and recommendations on managing these issues.  Key takeaways:  Industrywide benefits of enhanced transparency How to verify accuracy and reliability of private market valuation data across asset managers Analysis of pitfalls of opaque or inconsistent valuation methodology applications Managing and mitigating conflicts of interest in the private market valuation process Guest: Cristina Chen-Oster, founder and CEO, M2M Capital Host: Howard Mah-Lee, Senior Manager, AICPA Valuation Services Section   Continue reading to learn about key resources availabl

Maryellen and Ross delve into the subjectivity and controversy surrounding discount rates, the importance of understanding the asset and forecast inputs, and the application of market participant assumptions.  Including these key takeaways: Subjectivity in Discount Rates: Understanding the significant subjectivity and controversy in determining discount rates. Qualitative Assessments: The role of qualitative assessments in aligning discount rates with associated risks. Resources and Guides: Utilizing available resources to enhance valuation analyses. Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses. Guests Maryellen Galuchie, CPA/ABV, Managing Director, Advisory Services, Grant Thornton Ross McSwain, ABV, Sr. Manager, Advisory Services, Grant Thornton Host  Nene Glenn Gianfala, CPA/ABV, Vice President – Valuation Advisory Group, Chafe & Associates Please share your thoughts about the episode - click here to leave us a review   Want to get invol

Derivatives such as options have been used to reward employees for many years, and executive pay packages often include features of complex derivative securities such as options and restricted stock with vesting schedules based on various contingencies.  Join us for a deeper look of what’s “under the hood” in the relevant valuation techniques such as lattice models and Monte Carlo simulation, and how these relate to regulations such as ASC 718 and the new Pay versus Performance (“PvP”) requirements for proxy statements.  •    Relevance of Internal Revenue Code Section 409a and ASC 718 valuation considerations •    Case studies in uses and misuses of equity compensation •    “Pay vs Performance”, clawback provisions, and other regulatory considerations    Continue reading for key resources available at AICPA-CIMA.com to improve your valuation analyses. Guests:  Josh Schaeffer, PhD and Managing Director,  Equity Methods, LLP  Mona Paushenwein, Consultant, Equity Methods, LLP Host: Howard Mah-Lee, Senior Manage

This is a refreshed version of an episode from October 2022. Professor Matthew Shaffer shares his journey into the field of accounting and his interest in corporate governance, valuation, and the market for corporate control. His article, "Why Value the Enterprise and Route to the Equity," explores the rationale behind using enterprise value evaluations in M&A settings instead of directly valuing equity. Josh and Matt discuss:   Accounting as a fundamental framework for understanding business activities and market movements. Impact of Non-Recurring Items on Valuation Methods: Future of valuation research and its integration into academic curricula Guest: Matthew Shaffer, Ph.D., Asst. Professor, USC Marshall School of Business Host: Josh Shilts, CPA/ABV/CFF/CGMA, Shilts CPA Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESO

Plan early! The Tax Cut and Jobs Act (TCJA) significantly increased the estate tax exemption and there is uncertainty around whether it will be extended or modified. It's recommended to plan early and not wait until the last minute to ensure all necessary legal and valuation work can be completed in time. Greg Saunders and Lisa Cribben explore the complexities of estate planning and valuation, emphasizing the importance of early and continuous planning. They discuss various strategies to manage and reduce estate taxes, the critical role of valuation appraisers, and the potential impact of upcoming changes in tax laws. Guest: Lisa Cribben, CPA/ABV, Partner, Hawkins Ash CPA   Host: Gregory Saunders, CPA/ABV, Sr. Manager, Keiter CPAs Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES FOR FURTHER EXPLORATION If you’re using a p

In this interview, Dave and Natalya discuss several significant court cases related to gift and estate tax valuations, ESOPs, and control issues in business valuations.  Throughout the discussion, they emphasize the need for careful planning and the potential implications of court decisions on future valuation practices: Controversial Connolly Case which included life insurance proceeds in the value of a company for estate tax purposes Importance of Proper Valuation Methods: The discussion emphasized the need for accurate and appropriate valuation methods, particularly in ESOP cases Valuation professionals must stay informed about legal precedents and be prepared to adapt their methods accordingly Guest:  Natalya Abdrasilova, Director of Valuation and Litigation Services, BDM PC Host: David Consigli Jr. , Partner, FAZ Forensics Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation pr

This interview was recorded on 10/28/24 at the AICPA-CIMA Forensic and Valuation Services Conference prior to the presidential election on 11/5.  Economic issues discussed are still relevant as of the publish date11/21/24 Don’t miss this deep dive into the cost of capital and its implications for businesses and investors Nunes and Harrington, both from Kroll, share a macroeconomic update with the FVS podcast, focusing on the cost of capital and its valuation impact. The U.S. economy is performing better than expected, avoiding a recession and potentially achieving a soft landing, with inflation under control. The interview touches on the: Current and future interest rate environment Potential impacts of AI on the economy Sustainability of government debt Future of energy costs, particularly the role of nuclear energy Guests:   Carla S. Nunes, CFA, ABV, Managing Director, Kroll James P. Harrington, Director, Kroll Host:  Nene Glenn Gianfala, CPA, ABV, Chaffe & Associates Please share your thoughts about

Roger Grabowski has made numerous contributions to the field of valuation, particularly in forecasting cash flows using the discounted cash flow method (DCF). Roger speaks with Josh about the evolution of valuation practices and emphasizes the importance of understanding historical growth and differentiating between organic growth and growth through acquisitions. Topics discussed include: The importance of learning about the company and its management Thank you, Shannon Pratt - writing and presenting technical topics in an accessible manner Realistic forecasting and understanding the investment philosophy of business owners:  Guest: Roger J. Grabowski, FASA, Senior Advisor, Kroll  Host: Josh Shilts, CPA/ABV/CFF/CGMA, Shilts CPA Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES FOR FURTHER EXPLORATION AICPA FVS Section me

This is the 2nd of a two-episode interview with Rod Burkert who is a valuation practice coach and advisor. If you have not listened to Part 1 – consider listening now .  Rod views AI as a tool, and like how professionals learned to use Excel and Word, he encourages a mindset shift to familiarize oneself with AI and its potential applications in business valuation.  How to prompt so AI understands where you are coming from and gives you better results Consumers' expectations for professionals to incorporate AI into their practices and use AI to save time and money AI-related tools to help your staff up the learning curve.   Practical examples of how to use AI to assist with marketing and industry knowledge Guest:  Rod Burkert, CPA/ABV, Burkert Valuation Advisors Host: Josh Shilts, CPA/ABV/CFF/CGMA, Shilts CPA Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a messag

The authors of the Eye on Fraud article on the same topic, Howard Silverstone and Sean Sauder, explore historical and modern examples of music fraud, including "payola," artist fraud, and streaming fraud, and discuss industry measures to combat these issues, including: Streaming fraud: bots, click farms, and playlisting scams Impact of fraud on artists and the industry, such as royalty fraud and illegal downloading The role of forensic accountants and the use of specific software and global task forces to fight streaming fraud Guests:  Howard Silverstone, CPA/CFF, Executive Vice President, JS Held Sean Sauder, Senior Consultant, JS Held Host: Elizabeth Woodward, CPA/CFF, Forensic Accounting Director, Dean Dorton Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES FOR FURTHER EXPLORATION If you’re using a podcast app that d

Pod Squad host Nene Gianfala discusses how to support company specific risk and reconciliation with our experts fresh out of their session at the FVS conference.  Their conversation covers complex topics including: Understanding projected financial information (PFI) Quantifying company specific risk premium Reconciling WACC, WARA and IRR Complying with disclosure requirements and Learning the story behind the numbers. Guests:  Charles Gallman, CPS/ABV, Managing Director, Advisory Services, Grant Thornton Ross McSwain, ABV, Sr. Manager, Advisory Services, Grant Thornton Host:  Nene Glenn Gianfala, CPA/ABV, Vice President – Valuation Advisory Group, Chafe & Associates Please share your thoughts about the episode - click here to leave us a review   Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to infoFVS@aicpa-cima.com RESOURCES FOR FURTHER EXPLORATION If you’re using a podcast app that does not hyperlink to the resources, please