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 .

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

ALL315 Types of Report Writing
One-day seminar that addresses topics such as the difficulties of writing, the art of making sense, and proper and improper types of report writing.

Course Prerequisites:

None

Reading assignments: None

ARM201 Machinery and Equipment Appraisal Review and Management
Distinguish among the various types of appraisals and appraisal reviews; Explain the purpose of reviewing appraisals; Recognize the requirements of the appraisal review process; Understand the minimum desired qualifications and the role of the reviewer; Understand the various steps in the appraisal review process; Understand the various methods of reporting review results; Recognize common appraisal report deficiencies, errors and biases; Recognize the effect of assignment conditions and reduce liabilities associated with conducting reviews; Understand the role and responsibilities of management of appraisal projects.

Course Prerequisites: None

Reading assignments: None

ARM202 Real Property Appraisal Review and Management

Course Prerequisites: None

Reading assignments: None

ARM203 Business Valuation Appraisal Review and Management

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. 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 only from The Appraisal Foundation www.appraisalfoundation.org Level: Basic

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: The Analysis and Appraisal of Closely Held Companies, Fifth Edition

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. This course addresses Ibbotson variables -review and challenges; invested capital and equity approaches; CAPM, beta, Hamada models; capitalization methodologies; discounted methodologies, S Corp taxation the 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: The Analysis and Appraisal of Closely Held Companies, Fifth Edition

Cost of Capital: Applications and Examples, 3rd Edition

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: The Analysis and Appraisal of Closely Held Companies, Fifth Edition

The Market Approach to Valuing Businesses

Business Valuation Discounts and Premiums

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: The Analysis and Appraisal of Closely Held Companies, Fifth Edition

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.

Click here for the BV301 Course Overview

Course Prerequisites: None

Reading assignments:

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

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: Estimation and Applications

CAVSDP Discounts and Premiums
Explore controversies regarding QMDM, Pre-IPO studies and Restricted Stock studies; why benchmarking is not an option; distinguishing between liquidity and marketability; holding period vs. liquidition period; determinents of liquidity; liquidity and block size; look back put vs. Black Scholes; comparison between different measures of DLOM/DLOL; recent research and its application to the discounts; explore control premiums for blocks. Instructor: Ashok B. Abbott, Ph.D. Level: Advanced

Course Prerequisites:

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

Reading assignments:

Business Valuation Discounts and Premiums

CAVSESOP Valuing ESOP Shares
This course addresses the legislative and economic background of employee stock ownership plans (ESOPS); relevant ESOP accounting issues, including current AICPA Statement of Position (SOP) 93-6; the impact of financial leverage on ESOP valuations; fair market value determinations for ESOP transaction purposes; valuation factors and methodologies for ESOP securities, including convertible preferred stock; ESOP equity allocation concepts; ESOP special issues (investment marketability, minority interest/control, repurchase liability, etc.); the appraiser as financial adviser; and ESOP case law history. Instructor: Donna J. Walker, ASA Level: Advanced

Course Prerequisites:

None

Reading assignments:

Valuing a Business: The Analysis and Appraisal of Closely Held Companies, Fifth Edition

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

CAVSTP Valuation Principles for Transfer Pricing
Valuation of intangibles in cost sharing arrangements; valuation of trademarks and trade names in license agreements; determination of arm's length inter-company interest rates and debt/equity ratios; impact of transfer pricing in legal entity valuations for tax purposes. Instructor: Daniel Peters 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 No CPE credit will be awarded for the audio version of this course. Level: Basic
NOTE: THE COURSE IN LAS VEGAS IS NOT APPROVED FOR REAL ESTATE APPRAISERS FOR LICENSE PURPOSES.

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 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. Register soon - Only 30 seats available in the Kansas City offering!

Course Prerequisites:

None

Reading assignments: None