Center's Past Webinars - Recordings
November 5, 2020 - The Role of IACVS in the Business Valuation Profession
Established 10 years ago, the International Association of Certified Valuation Specialist (IACVS) is dedicated to supporting valuation and fraud deterrence professionals around the world through professional training, certification programs, consulting, research, and publications. With 12 charters and chapters in 50 countries, IACVS supports 10,000 professionals from private, government, academic, and research institutions. IACVS’s signature professional certification, International Certified Valuation Specialist (ICVS), has gained recognition by major financial institutions, consulting and legal firms, governments, and academic institutions. IACVS and the Center for International Business Valuation (Center) have recently developed a brand new certification program, International Certified Valuation Specialist with Advanced Studies in Financial Instruments (ICVS-A), to address the complex and dynamic nature of business valuation. The course is now being offered in person, virtual live, online, and in hybrid format. At the Center’s monthly webinar on November 5th, the IACVS leadership team (William A. Hanlin, ICVS, CPA, CEF, CFD, President, and CEO; Richard Claywell, ICVS, CPA, ABV, CBA, CM&AA, ASA, ABAR, Board Chairman; and Robert Brackett, ICVS, CPA, Secretary-General) will share their 80+ years of collective experience, lessons learned, and best practices in the valuation profession.
In the panel discussion session, they will join Dr. Joel DiCicco, PhD, CPA, CFF, BCA, PFS, CGMA, ICVS-A, Co-Founder and Principal Consultant of the Center and Dr. Dereje Tessema, PhD, PMP, PMI-ACP, CEA, SAFe-SPC, Co-Founder and Managing Director of the Center to discuss the partnership’s strategic direction, as well as how it can reach out to a wider audience and serve as the discipline’s authoritative voice in Africa, Asia, Eastern Europe, the Middle East, and South and North America.
October 1, 2020 - Financial Data Analytics
Today data analytics is the main driver in decision making. There is a great variety of data analytics tools and software-Python, Excel, Tableau, RStudio, Microsoft BI, SAS, etc. which utilize the three types of data analytics-descriptive, predictive, and prescriptive. The choice of software depends on the user’s goals and knowledge. Some users would prefer to use the data extraction and computation features and others would prefer to focus on the data’s presentation and visualization. Users who are unfamiliar with programming languages would prefer software that does not require coding. For valuation purposes, Excel is still widely used because it can compute ratios, multiples, and discounted cash flows (DCF) as well as to visualize the results for analysis. Keywords: Data Analytics, Business Valuation, Python.
September 3, 2020 - Technical, Operational, and Management Resilience of the Financial Sector In the Era of COVID-19
The COVID-Pandemic poses a profound challenge to the financial and operational resilience of the global economy in general and business valuation in particular. This crisis has accelerated the industry’s need to change and adapt. According to an analysis by Accenture, the global Capital Markets infrastructure has been tested throughout this crisis with unprecedented volumes, the move to fully electronic trading floors, remote trading operations, and the need to keep markets orderly and liquid. The pandemic caused financial professionals and leaders to assess the fast-changing development and design a path to stabilization, reconfiguration, and recovery. To achieve this transformation, the use of the new Agile mindset supported by technology, tools, and techniques is critical. In this monthly webinar, Dr. Dereje Tessema, a certified project manager and Agile methodology practitioner and coach, and Dr. Joel DiCicco, the Center’s co-founder and developer of the new business valuation certification program share their experience supported by data from the industry and academia. Keywords: Business Valuation, Agile Methodology
August 6, 2020 - Firm Valuation – Income Approach, Philippe Dubois, MSF, ICVS-A
Mr. Philippe Dubois has an advanced background in finance. He recently obtained his Masters’ of Science in Finance from Florida Atlantic University. He has proven himself in leadership finance and strategy roles in the technology, banking, and Energy industries. He has extensive operational experience coupled with experience in raising money and interfacing with Wall Street. He has held upper management level positions at a Fortune 500 company, a major international bank, and recently is served as Financial Analyst the only Haitian international investment group – GB Group. Philippe is currently enrolled in the Executive PhD program in the College of Business at Florida Atlantic University. He is a results oriented strategic thinker. He adds significant value in fast paced growth environment, where management and the board of directors are committed profitable revenue growth and increased shareholder value.
July 2, 2020 - The Build-up Method in Calculating the Cost of Equity - Uliana Filatova, ICVS-A, MSF, MBA
When valuing a business as a going concern, practitioners use various valuation methods, such as DCF analysis, comparable company analysis, precedent transactions, and asset-based method. The discounted cash flow (DCF) analysis, also known as income approach, is a form of intrinsic valuation that values a business based on its projected cash flow, discounted to its present value. The DCF method is especially useful if the cash flows are not expected to stay constant in the future. Using the DCF method in valuing the business requires determining key variables – forecasting the future free cash flows and estimating the discount rate. Discount rates reflect the required rates of return on investment. Various methods can be utilized to determine the discount rate. …..
June 4 2020 - Introduction to Intangible Valuation: Dr. Joel M. DiCicco, CPA, ICVS-A, CFF, BCA, PFS, CGMA
Aswath Damodarn, a professor of finance at the Stern School of Business at New York University, sometimes known as the ‘Dean of Valuation’,defined intangible assets to include franchises, copyrights and trademarks, patents, brand names, and invisible assets (top-notch management, loyal and well-trained workforce, and technological know-how). This webinar (a) demystifies these complex concepts by expanding the definition of intangibles and their categorization, (b) focuses on the most commonly used methods in valuing intangibles, (c) demonstrates the main methodologies used in valuing these assets, and (d) concludes with a discussion on the weaknesses of the accounting reporting model for reporting intangibles.
May 7, 2020 - Value Investing: Dr. Joel M. DiCicco, CPA, ICVS-A, CFF, BCA, PFS, CGMA
What do Warren Buffett, Benjamin Graham, Charlie Munger, and Seth Klarman have in common? They are all value investors. Value investing is considered to be a strategy that involves picking stocks that appear to be trading for less than their intrinsic value. Value investors actively track down stocks they think the stock market is greatly underestimating. They do not believe in portfolio diversification; rather, they select a few excellent companies for the long-term. In this webinar, Dr. DiCicco provides a detailed analysis of value investing and how it is related to cash flow valuation. He will support his analysis with examples of successful investors.
January 14, 2020 - The Fairness of Fair Value Accounting: Dr. Joel M. DiCicco, CPA, ICVS-A, CFF, BCA, PFS, CGMA
Since 1990, federal credit programs have been budgeted based on the requirements of the Federal Credit Reform Act (FCRA). FCRA uses a net present value approach to measure the lifetime costs of a credit commitment in the year a loan is made, where costs are measured by the difference between projected expenditures (excluding administrative costs) and projected revenues. The idea of the FCRA was to make it possible to compare credit programs with other federal spending items, which are valued on a cash expenditure basis. The fair value approach shares many similarities with FCRA accounting. Both methods use an accrual basis of accounting in that revenues and expenses are recorded when the obligations are incurred independent of when the cash is actually received or paid. Both use the same projections of future cash flows. The primary difference between the two approaches rests in the discount rate that is used to calculate the present value. While FCRA uses the risk-free rates on Treasury securities, the fair-value approach attempts to incorporate a measure of market risk by using the discount