Business Valuation, Taxes & Everything In Between – What You Need To Know

In today’s business climate, understanding value and the factors that contribute to it are critical for companies regardless of size or industry, as well as their stakeholders and their trusted advisors. Ongoing changes in financial reporting standards, tax legislation and policies, legal and regulatory requirements (e.g., family law, shareholder remedies, securities, probate, etc.), debt and equity markets, the business law framework and case law have brought business valuations to the core of corporate decision making.

Spend a worthwhile PD Day with Melanie Russell to hear how and why her and her team of valuation specialists determine the value of business interests including various types of securities, derivatives and various ownership interests, as well as tangible and intangible assets and liabilities.

Business Valuation, Taxes, and Everything in Between – What You Need to Know!


Melanie's approach is practical, efficient, insightful and logical, reflecting her team’s extensive experience in a variety of valuation situations including:

  • Tax-related valuations (planning and disputes): corporate reorganizations; income tax planning, filings and compliance; tax disputes; intellectual property migration; allocation of value on asset purchases; ESOPs
  • Financial statement measurement, disclosures and reserves; purchase price allocation; impairment testing; contingent tax liability estimates; financial instruments; ESOPs and restricted shares
  • Transaction-related valuations: corporate reorganizations; acquisitions/divestitures; evaluation of financing; Formal Valuations (MI 61-101); fairness opinions; pricing analyses; quality of earnings; disputes arising from transactions
  • Dispute-related valuationsmatrimonial/family disputes (whether in litigation, alternative dispute resolution, or “kitchen table” negotiations); corporate/commercial disputes (e.g., contract disputes); shareholder/partner disputes; estate disputes; second opinions and critiques of other valuation reports; expropriations
  • Strategic valuations: succession/estate planning; income tax planning; estate planning; shareholders' agreement development and compliance; establishing management / employee remuneration; co-habitation agreements; business modelling.

 

Seminar Outline:      

 Valuations 101:

  1. Purposes of valuations
  2. Value definitions/reference points
  3. Generally accepted valuation principles
  4. Overview engagement considerations
  5. Basic valuation steps
  6. Valuation basics
      1. Principles
      2. Approaches and methods
      3. Common valuation adjustments
      4. Value components
        1. Cash flow
        2. Discount / Cap rates
        3. Redundancies
  7. Valuing equity directly vs. indirectly
  8. Case study



Valuations 201

  1. Issues specific to private companies
  2. Critical engagement issues
  3. Various key valuation issues
    1. V-date selection
    2. Reliability of financial info
    3. Projections/forecasts
    4. Personal goodwill/key person
    5. Economic value added
    6. Minority/lack of control discount
    7. Marketability discount
    8. Special securities
    9. Contingent liabilities
  4. Disclosure/required documents
  5. Valuation standards & levels of assurance
  6. Key valuation issues & common errors
  7. Expert reports
  8. Common problems with DCF
  9. Valuation issues relating to shareholders’ agreements
  10. Maximizing values
  11. Dealing with disputes

FMV from a Tax Perspective

  1. Purposes of valuation
  2. Keeping it simple - the basics of valuation
  3. FMV means what, exactly?
  4. Generally accepted valuation principles
  5. A brief technical review:
    1. Valuation approaches and methods
    2. Common valuation adjustments
  6. Valuation standards and levels of assurance
  7. Key valuation issues and common errors
  8. The practical side - is a formal valuation and/or an external valuator always required?

 

Who is it for?

This seminar is specifically designed for Professionals involved in:

  • Accounting/assurance & Income Tax
  • Legal
  • Financial Planners
  • Business Valuation Specialists

 

What you will get out of it!

This live interactive seminar features in-depth material presented by our experienced speaker Melanie Russell.

  • You will gain from hearing practical and real-life experience in dealing with business valuations.
  • You will hear interesting questions and comments from other professionals in the audience.
  • All attendees receive a printed seminar guide for reference and notes.
  • Attendees will be recognized for 7.5 hours of PD via a digital certificate.

Melanie E. Russell, CPA, CA, CBV, CIM, CFE, CFF, ABV

Since obtaining the CA, CPA designation in 1988, Ms. Russell has gathered experience in a number of areas including business, asset, financial instrument and liability valuations; income valuations/determinations; quantification of economic damages; expropriations; financial/forensic investigations; financial projections and modelling; due diligence; quality of earnings; external auditing; internal auditing; and treasury management. 

Ms. Russell has worked in accounting and valuation practice for more than 20 years, and in industry for three years.  Ms. Russell has qualified as an expert witness in the Ontario Court of Justice, the Ontario Superior Court, the Chartered Professional Accountants of Ontario (“CPAO”, formerly Institute of Chartered Accountants of Ontario)’s Discipline Committee (which determines whether members should be charged with offences as brought by the CPAO’s Professional Conduct Committee) and the Investment Dealers’ Association.  She has qualified as an expert in the areas of business/asset valuation, quantification of damages, income determination and forensic accounting.  She has also acted as an accounting expert in arbitration, mediation, mediation/arbitration and other alternative dispute resolution proceedings (e.g., collaborative practice), and negotiated a number of buy/sell transactions. 

Ms. Russell has been active in accounting, auditing, valuation and finance education since 1987.  For example:

 

  • Taught at various institutions including York University - Atkinson College and Schulich School of Business, ICAO, CPAO, University of Toronto, Ryerson Polytechnic University, Seneca College, Humber College, Chartered Professional Accountants Canada (“CPA Canada” formerly Canadian Institute of Chartered Accountants), School of Accountancy and various CA/CPA preparation courses.

 

  • Presented lectures and seminars in various areas including valuation, income analysis, financial reporting, finance, accounting, auditing/assurance, personal financial planning for various organizations including the Ontario Bar Association, Law Society of Upper Canada, CICA/CPA Canada, the CICBV, ICAO/CPAO, Department of Justice, various district CA/CPA associations, ESOP Canada, Estate Planning Council of Toronto (“EPCT”), Innovation Guelph, Junior Trust and Estate Practitioners Group, Toronto Entrepreneurs’ Conference, Junior Achievement, Federated Press, Peel Lawyers’ Association and various law firms, accounting firms and industry groups.

Seminar Host:
Gerry Barker, Product Manager, Tax Compliance Events

 

Gerry has a long tenure in the tax compliance industry with Taxprep and Cantax in various capacities. He enjoys getting out to see new and current customers when he can and spends 1/3 of his days on the road coordinating our training seminars. He is the ultimate road warrior! With a true passion for servicing our customers through his high touch approach, he genuinely does care about the learner experience. Gerry and our tax compliance team dedicate themselves to executing on delivering great customer experiences every day.

Email: Gerry.Barker@wolterskluwer.com