The following is a list of our courses for Business Valuation Appraisers. To view the schedule of offerings, Click on the course title or the "Get Dates and Locations" button beneath the course .

AEW The Appraiser as an Expert Witness Seminar -Multidisciplinary class
Topics include: * Pre-engagement considerations * Interaction between expert and attorney * Discovery/investigation * Preparation of the expert's report * Critique of opposing expert's report * Trial preparation * Qualification as an expert * Conduct at trial * Do's and don'ts while on the witness stand Registration fee: $225. which includes the book "The Appraiser as Expert Witness"

Course Prerequisites: None

Reading assignments: None

ALL215 Appraisal Report Writing
Learning Objective: The objective of this multidiscipline course is to introduce students to the mechanics of appraisal report writing and to assist experienced professionals to improve their written appraisal reports. Topics address the difficulties of writing and how to overcome them, types of writing styles used in appraisal reports, critical thinking skills, argument analysis, logical fallacies and examples of good and poor writing. Level: Intermediate

Course Prerequisites:

None

Reading assignments: None

BV201N Introduction to Business Valuation
Learning Objective: To provide a solid foundation for students entering the business valuation profession. This course introduces business valuation theory, research methodology, economic and industry analysis, the asset approach, and special introductory topics. After completing this course students will be able to understand and use the business valuation theory, research methodology, economic and industry analysis, the asset approach, and special introductory topics. Students registering for this course should bring a current copy of the Uniform Standards of Professional Appraisal Practice (USPAP) book with them. The book is available for purchase from ASA's bookstore. Level: Basic Recommended CPE: 27 Course is a Group/Live offering

Course Prerequisites:

Successful completion of two college-level accounting courses, one college-level finance course, one college-level economics course, and have a working knowledge of financial statements and the stock market. Although not required, 6-12 months experience in business valuation is recommended.

Reading assignments:

Valuing a Business: Analysis and Appraisal, 5th Ed

2008-2009 USPAP Book

Guide to Business Valuations (Book)

BV202N The Income Approach
Learning Objective: To build upon the foundation established in BV201N by thoroughly exploring one of the accepted approaches commonly used in business valuation. After completing this course, students will be able to understand and use Ibbotson variables -review and challenges; invested capital and equity approaches; CAPM, beta, Hamada models; capitalization methodologies; discounted methodologies, S Corp taxation theory in the post "Gross" world; and discounts and premiums. Level: Intermediate

Course Prerequisites:

Successful completion of BV201 or BV201N. One college-level investment/financial analysis course or attainment of the CFA designation.

Reading assignments:

Valuing a Business: Analysis and Appraisal, 5th Ed

Cost of Capital: Applications and Examples, 3rd Ed

2008-2009 USPAP Book

Guide to Business Valuations (Book)

BV203N The Market Approach
Learning Objective: To explore another of the commonly accepted approaches used in business valuation practice. This course introduces guideline company methodology; transaction methodology; buy/sell agreements, rules of thumb, and other market methods; and further explores discounts and premiums. Level: Intermediate

Course Prerequisites:

Successful completion of BV201 or BV201N and BV202N or successful completion of the two three-day courses "Fundamentals in Business Valuation I and II" (formerly the eight one-day AICPA ABV course.)

Reading assignments:

Valuing a Business: Analysis and Appraisal, 5th Ed

2008-2009 USPAP Book

BV204N Business Valuation Case Study
Learning Objective: To provide students with an opportunity to apply the knowledge they have acquired in the previous three courses to the valuation of an actual company. Activities include online research for industry data; analysis of company, economic and industry data; participation in mock management interviews; preparation and analysis of company financial statements; selection and analysis of guideline companies; selection and analysis of market transactions; preparing cash flow analysis; selecting appropriate valuation approaches to estimate fair market value; selecting appropriate premiums or discounts; correlating and concluding at fair market value. Level : Advanced

Course Prerequisites:

Successful completion of BV201 and BV202 or BV201 or BV201N, BV202N and BV203N.

Reading assignments:

Valuing a Business: Analysis and Appraisal, 5th Ed

2008-2009 USPAP Book

Guide to Business Valuations (Book)

BV301 Valuation of Intangible Assets for Financial Reporting Purposes
The course focuses on SFAS 141 – Purchase Price Allocations; SFAS 142- Goodwill Impairment; and SFAS 157 – Fair Value Measurement. Valuation for Financial Reporting: Fair Value Measurements and Reporting, Intangible Assets… by Michael J. Mard, ASA, James R. Hitchner, ASA and Steven D. Hyden, ASA. Hardcover; 240 pages (2007). This new 2nd edition is not required but is a good reference.

Click here for the BV301 Course Overview

Course Prerequisites: None

Reading assignments: None

BV302 Special Topics in the Valuation of Intangible Assets
This advanced business valuation seminar is primarily an exploration of the technical methodology and practice of the valuation of intangible assets.

Course Prerequisites: None

Reading assignments:

Valuation for Financial Reporting: Fair Value Measurements and Reporting, Intangible Assets…

CAVS123R CAVS123R/409A
The CAVS 123R/409A class includes instructor-supervised, in-class case studies. Participants will leave the class with a better understanding of: · When and how to use - as well as the limitations of using - current value methods (CVM), option pricing models (OPM), and probability weighted return models (PWERM) to determine IRS Reg. 409A values. · When, how, and/or should discounts for lack of control and lack of marketability be used. · How IRS Reg. 409A expectations differ from auditors’ SFAS 123R expectations.

Course Prerequisites: None

Reading assignments: None

CAVSCC Cost of Capital
Advanced BV seminar that examines the topics of: examinations of existing criticisms of the CAPM: exploration of current literature in search of answers and ways to improve the data used as inputs to the models: exploration of practical models for use in international markets: other cost of capital issues such as estimating returns on venture capital investments, troubled companies and pass through entities such as S corporations. Instructor: Roger J. Grabowski, ASA Level: Advanced

Course Prerequisites:

Minimum of 6-10 years of experience in valuation or accounting, or experience in finance, including consulting, public accounting, business, government and university settings. ASA, CPA/ABV, CVA, CBA or CFA designation or MBA degree is helpful, but not required.

Reading assignments:

Cost of Capital: Applications and Examples, 3rd Ed

CAVSEWP Expert Witness Preparation and Testimony
This seminar is of interest to appraisers in all disciplines . A discussion for valuators giving expert witness testimony regarding pre-engagement considerations, interaction between expert and attorney, discovery/investigation, preparation of the expert's report, critique of opposing expert's report, trial preparation, qualification as an expert, conduct at trial, and dos and don't while on the witness stand. Instructor: Richard M. Wise, FASA Level: Advanced

Course Prerequisites: None

Reading assignments: None

CAVSMC Monte Carlo Simulation: Extensions in Valuation Part I
With the increasing complexity of valuation engagements and their more critical, authoritative reviews, it is essential that professionals understand the effects of uncertainty in their valuation analysis. Without this understanding, valuation professionals are exposed to unnecessary risks and potential defeat. This advanced valuation workshop extends/complements typical valuation analyses with Monte Carlo simulation. Participants will gain a working knowledge of Crystal Ball's Monte Carlo simulation Excel add-in and its application to valuation engagements including securities valuations, and SFAS 141/142 projects. With the tools and techniques from this workshop, you will be able to quantify the effects of uncertainty on value, gain insight including a ranking of the variables that drive value, and replace "what if" iterations and other risk analysis tools with automated procedures. This is a hands-on workshop with case studies and exercises; participants will be provided with a trial version of Crystal Ball. (Crystal Ball is a registered trademark) Instructors: Kevin Couillard, ASA and Dave Ewert, Ph.D. Level: Advanced

Course Prerequisites: None

Reading assignments: None

CAVSRO Real Options Valuation: Extensions in Value Part II
Real option valuation (ROV) is the application of option pricing methods to the valuation of investments such as R&D, new drugs, mineral rights, and patents as opposed to financial assets. ROV is gaining ground over traditional valuation approaches. Although it took over two decades for discounted cash flow to take hold in corporate finance, some believe real option analysis will replace NPV as the central paradigm for investment decisions in the next ten years. This advanced valuation workshop extends/complements typical valuation analyses with Real Options analysis. This workshop will highlight the shortcomings of traditional valuation approaches and offer analytics to complement and extend tradtional analysis. Participants will be guided through the business case for the use of real options and gain a working knowledge of the basics of real option theory and the real option solution process and methodology. This is a hands-on workshop with case studies and exercises. This workshop builds on the Monte Carlo simulation workshop, but is not a requirement for enrollment. Instructors: Kevin P. Couillard, ASA and Dave Ewert, Ph.D. Level: Advanced

Course Prerequisites:

Minimum of 6-10 years of experience in valuation or accounting, or experience in finance, including consulting, public accounting, business, government and university settings. ASA, CPA/ABV, CVA, CBA or CFA designation or MBA degree is helpful, but not required.

Reading assignments: None

CAVSSCORP The Valuation of S Corporations
Discuss relevant • Economic attributes of S corporations • Review of current S corporation models • New “after-shareholder-tax” model (ATM) • S corporation valuation discounts and premiums • Valuation of controlling interests • Built-in capital gains tax liabilities • Recent court cases and Daubert criteria Instructor: Daniel VanVleet, ASA Level: Advanced

Course Prerequisites: None

Reading assignments: None

SE100 National Uniform Standards of Professional Appraisal Practice (USPAP)
Learning Objective: The objective of this course is to familiarize students with the recognized standards governing professional appraisals. This is the 15 hour National USPAP course approved by the Appraisal Standards Board of the Appraisal Foundation. Students are provided a current Uniform Standards of Professional Appraisal Practice (USPAP) manual and current book at the course site. Level: Basic

Course Prerequisites:

None

Reading assignments: None

SE100BV USPAP For Business Valuation
*NOTE: THIS COURSE DOES NOT MEET REAL PROPERTY LICENSING REQUIREMENTS! National Uniform Standards of Professional Appraisal practice designed specifically for business valuation appraisers.

Course Prerequisites: None

Reading assignments: None

SE101 National USPAP Update Course
Learning Objective: The objective of this course is to familiarize students with significant revisions to USPAP. This course is designed specifically for individuals who have completed the full USPAP course and only require updated information. This 7-hour update seminar covers critical changes and revisions to USPAP that significantly impact every practicing appraiser and lending officer.

Important Note: The 7-hour USPAP course does not meet the Appraisal Foundation’s USPAP continuing education requirements for Personal Property, Gems and Jewelry and Machinery and Technical Specialties practitioners. While PP/GJ/MTS practitioners may take this 7-hour update course for informational purposes (and for 7 hours of ASA continuing education credit), they must take a 15-hour USPAP course and pass the exam every 5 years to remain in compliance with the Appraisal Foundation requirements. This course may not be accepted by many state real property licensing boards and may not be accepted for CPE credit through other organizations (e.g. NASBA). It is your responsibility as the student to contact the licensing authority in your state to make certain that this USPAP course has been approved and will be accepted for credit.

Course Prerequisites:

None

Reading assignments: None

WEBVNA Webinar: Understanding and Valuing Non-Competition Agreements
Non-Competition agreements provide a company protection from the erosion of value from potential competition of key personnel. The key personnel in-turn give up significant rights in terms of the ability to begin a business or go to work for certain companies as part of the agreement. The value transferred can have implications in a variety of avenues including income taxes, personal goodwill, excess compensation, and in allocation of value in a purchase. This webinar outlines the value drivers of non-competition agreements, describes the methodologies commonly used to determine their value, and provides a basis of support in line with value considerations in transactions. This webinar is free of charge to ASA members only until June 5, 2009 at noon EST. After that day and time the charge for Members will be $29.00 and for Non-Members $79.00 so register today! The webinar is at 2:00PM EST. If the registration link is not below, please call ASA Headquarters and register with the member service representatives at 1-800-ASA-VALU or (703) 478-2228.

Course Prerequisites: None

Reading assignments: None