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1 National Business Valuation School 3 Locations: May 16-20, 2011 Georgia Society of CPAs Atlanta, GA June 13-17, 2011 Colorado Society of CPAs Denver, CO July 11-15, 2011 AICPA Boardroom New York, NY Register now this course sells out every year! FVS Members Save 100 an additional $ Early Bird Registration Save $ 75 Benefit from this intensive 5 day course based on the comprehensive new 3rd edition of Financial Valuation: Applications and Models by James R. Hitchner and 30 top experts in the business valuation field. Atlanta Denver New York Learn more or register cpa2biz.com/conferences

2 Program Agenda Topics and speakers are subject to change Please note the daily schedule for the Business Valuation School is 8:00 am - 5:00 pm Monday: Valuation Introduction, Research & Analysis, AND the Asset Approach Discusses basic standards of value, research techniques, analysis of financial statements and company risk factors, and the asset approach to value. The session addresses relevant theory, applications, best practice methods and controversies through easily understood text, examples and exercises. Understand the what, where, why and when of business valuation, including research sources, techniques, planning and presentation Analyze company financial statements and risk environment Understand the application of the asset approach Standards of value Principles of appraisal practice Research information sources: financial, economic, industry, and guideline companies/transactions Historical financial statement analysis (includes case study) Normalization adjustments Ratio, risk and macro environmental analyses Restating a balance sheet to value (includes case study) Tuesday: The Income Approach and Cost of Capital/Rate of Return Discusses the income approach and cost of capital/rate of return. The session addresses relevant theory, applications, best practice methods and controversies through easily understood text, examples and exercises. Gain an understanding of income approach theory, methodologies and applications Learn types of cash flow models Understand the methods and choices for calculating cost of capital Normalization and adjustments to financial statements Discounted and capitalized cash flow methods Cost of capital concepts, methods and sources of data, including Ibbotson and Duff & Phelps Growth rates, terminal value and equity vs. invested capital models Risk, and how to assess it, including methods for specific company risk CAPM, MCAPM, Build Up and WACC Excess cash flow earnings method (includes case study) wednesday: The Market Approach, Discounts and Premiums Discusses the market approach, valuation discounts and premiums. The session addresses relevant theory, applications, best practice methods and controversies through easily understood text, examples and exercises. Gain an understanding of market approach theory, methodologies and applications Calculate discounts/premiums appropriate for various levels of value and valuation methods Selecting and presenting guideline public company data (includes case study) Adjustments for comparative purposes Guideline company transaction method and sources of data Pricing and valuation multiples and adjustments for differences between companies Levels of value theory and illustrations Control, marketability and other discounts/premiums Detailed list and discussion of various discount studies Quantitative and qualitative tools for determining and presenting discounts (includes examples) Learn more or register cpa2biz.com

3 Thursday: REPORTS, STANDARDS, TAX VALUATIONS, S-CORPS AND INTANGIBLE ASSETS Discusses types of reports, valuation standards, tax related valuations, S-Corps and intangible assets. The session addresses relevant theory, applications, best practice methods and controversies through easily understood text, examples and exercises. Gain an understanding of reporting options and content Identify BV organizations, and their standards and credentials Learn about valuations for financial reporting purposes Apply valuation theory and methods to estate, gift, income tax, family limited partnership, and S-Corp valuations Types of engagements and reports (includes complete sample report) BV standards and credentials, including AICPA, USPAP and IRS business valuation guidelines Relevant regulations and revenue rulings for estate, gift, charitable contribution, and income tax valuations (includes revenue ruling compliance checklists) Family limited partnership valuation issues (includes case study) Valuation issues with buy/sell agreements S-Corp adjustments and models Valuation of intangible assests (includes examples) Friday: Valuation Essentials Case Study Based on the Financial Valuation Workbook, co-authored by James R. Hitchner and Michael J. Mard, this session presents a comprehensive case study that includes the engagement, industry and company information; the income and market approaches; and the estimate of value. Through 80 easily understood exercises (including detailed answers), the case study serves as a review of the relevant theory, applications, best practice methods and controversies addressed in the previous days. The Valuation Essentials case study acts as a capstone for the entire BV School program. Apply general valuation theory and methodologies to a representative valuation engagement Correlation of values Ratio analysis Control, minority and marketability Discount case study exercises Controversial issues Income approach, including calculations of WACC and the capitalized cash flow method The impact of national, local and industry economic outlook Market approach, including methods and sources Historical financial analysis of company data with adjustments 4 Ways to Register Fast ONLINE*: PHONE*: or FAX*: or MAIL: Complete and mail the form along with your promotion code to: AICPA Member Service Center, Conferences, 220 Leigh Farm Road, Durham, NC *Credit card registration only (American Express, Diners Club, Discover, MasterCard or VISA ) RECOMMENDED CPE CREDIT 45 This conference was prepared in accordance with the Joint AICPA/NASBA Statement on Standards for Continuing Professional Education (CPE) Programs effective on January 1, The recommended CPE Credits are in accordance with these standards; however, your individual state board is the final authority on the acceptance of programs for CPE credit. CONFERENCE FEE Registration fees are determined by current membership status in the AICPA. Please indicate member number on the registration form to obtain the correct discount. Conference fee includes all sessions, conference materials, continental breakfasts, refreshment breaks, luncheons and a reception. Registration for 2 or more individuals at the same time may qualify for group discounts; additional savings may be available for groups of 10 or more. For more information please call the AICPA Service Center at (9AM-6PM ET). Program Code: BVSCH111 (GA) BVSCH211 (CO) BVSCH311 (NY) CANCELLATION POLICY You may cancel without penalty if written cancellation requests are received by 4/1/11 (GA), 4/29/11 (CO), 5/27/11 (NY). Due to financial obligations incurred by the AICPA, a credit voucher less 50% of the registration fee will be issued for written requests received by 4/25/11 (GA), 5/23/11 (CO), 6/20/11 (NY). No refunds or credits will be issued on cancellation requests received on or after 4/26/11 (GA), 5/24/11 (CO), 6/21/11 (NY). For further information, call the AICPA Service Center at SAVE $75 with Early Bird Registration!

4 Gain an in-depth understanding of essential business valuation methods in five intensive days of training. Learn from the experts. Become one yourself. In today s unpredictable financial climate, the standards used to valuate a business have become increasingly complex. Consequently, CPAs who are adept at understanding these new norms are in greater demand than ever. To help you stay up-to-date on current practices, the 2011 AICPA National Business Valuation School provides the latest theories, tools and techniques you need to continue expanding your valuation skills. From fundamental theory to best practices, big picture overviews to smaller legal nuances, leading experts take you through five days of learning, culminating with real case studies that demonstrate how standards, techniques and approaches are incorporated. Learn from the best & the brightest. Each AICPA Business Valuation School pairs two skilled trainers who are leading business valuation experts. This informative conference is based on the newly published 3rd edition of Financial Valuation: Applications and Models by valuation authority James R. Hitchner. Co-authored by 30 leading experts, it presents the most current application of valuation theory for CPAs, business appraisers, analysts, attorneys, corporate executives and consultants. You ll benefit from real-world examples, the professional consensus on application, and the tools to apply it. It also includes a new chapter on Standards of Value, and expands the chapters on Cost of Capital, Discounts, and Market Approach. All Business Valuation School participants will receive a complimentary copy of both Financial Valuation: Applications and Models, and Financial Valuation Workbook: Step-by-Step Exercises to Help You Master Financial Valuation (a $215 value). Hot Topics Expanded presentation on cost of capital, discounts and market approach SSVS No.1 Compliant Report Understand the application of the asset, market and income approaches to value Calculate discounts/premiums Overview of valuation of intangibles and fair value for financial reporting Who Should Attend Practitioners who want to grow a valuation practice within their firms, or professionals in business and industry seeking to increase their technical expertise in valuation. This course is also helpful for CPAs seeking to attain the Accredited in Business Valuation (ABV) credential. Small, informal classes. Expanded networking. Take advantage of the classroom-like feeling to make new contacts and grow your networking base. Educational environment is conducive to sharing ideas and maximizing interaction. learn all this In just five days: Monday Valuation Introduction, Research & Analysis, and the Asset Approach Tuesday The Income Approach and Cost of Capital/Rate of Return Wednesday The Market Approach, Discounts & Premiums Thursday Reports, Standards, Tax Valuations, S-Corps, and Intangible Assets Friday Valuation Essentials Case Study SAVE $75 with Early Bird Registration!

5 May 16-20, 2011 / Atlanta, Ga Georgia Society of CPAs 3353 Peachtree Road, Suite 400 Atlanta, GA Register by 4/1/11 and Save $75! Speakers: Kevin R. Yeanoplos, CPA/ABV/CFF, ASA Kevin is the Director of Valuation Services for Brueggeman and Johnson Yeanoplos, P.C., a firm specializing in the areas of business valuation, financial analysis and litigation support. He has extensive experience, including financial reporting, divorce and other litigation, gift and estate taxes, and ESOPs. He served as a member of the AICPA s Consulting Services Business Valuation Committee, is a past chair of the ABV Credential Committee, and is a Commissioner on the National Accreditation Commission. He is a co-author of Financial Valuation: Applications and Models, 3rd Edition. Harold G. Martin Jr., CPA/ABV/CFF, ASA, CFE Harold is the Principal-in-Charge of the Business Valuation, Forensic & Litigation Services Group for Keiter Stephens, and an adjunct faculty member of The College of William & Mary Mason Graduate School of Business. He specializes in valuations of closely held companies, forensic accounting, and litigation consulting and expert witness services. Harold has appeared as an expert witness in federal and state courts, served as a court-appointed neutral appraiser, and also served as a federal court-appointed accountant for a receivership. Harold is the Chair of the 2011 AICPA National Business Valuation Conference Steering Committee, serves as an instructor for the AICPA s ABV Exam Review Course, and is a co-author of Financial Valuation: Applications and Models, 3rd Edition. This course has everything I expected. It is very comprehensive and provides a solid foundation in business valuation. I am very excited about pursuing this field of work. Drew Chambers, CPA, Mountjoy Chilton Medley, Louisville, KY Recommended Hotel: Embassy Suites Atlanta Buckhead 3285 Peachtree Road NE Atlanta, GA Hotel Phone: Hotel Room Rate: $134 (includes hot breakfast buffet & complimentary cocktail hour) Free shuttle to GSCPA 1.5 blocks away Request the AICPA room block (Please note this rate is subject to availability, and hotel reserves the right to change rate without notice.)

6 June 13-17, 2011 / Denver, CO Colorado Society of CPAs 7979 East Tufts Ave., Suite 1000 Denver, CO Register by 4/29/11 and Save $75! Speakers: Ronald D. DiMattia, CPA/ABV, CMA Ronald founded Corporate Value Partners, Inc. to assist clients with a broad range of valuation, corporate finance, and litigation and bankruptcy matters. He has significant experience in financial analysis, forecasts/projections, acquisitions, shareholder value measurement and forensic accounting. He is the president of his current firm; previously he was a senior staff member with a regional accounting firm, and was a senior manager in a Big Five accounting firm s financial advisory services practice. Ron has served on the AICPA Business Valuation Subcommittee and was appointed to the National Accreditation Commission and the Governing Council of the AICPA. Edward J. Dupke, CPA/ABV/CFF ASA Edward is a senior consultant in the Valuation and Forensics Division of Clifton Gunderson, LLP, the 14th largest CPA and consulting firm in the U.S. He currently is vice-chair of the AICPA Joint Trial Board, a member of the AICPA National Accreditation Commission, the Merger and Acquisition Dispute Resolution Task Force, and chaired the AICPA Business Valuation Standards Writing Task Force for CPAs. He is former chair of the AICPA Business Valuation Committee and past chair of the Michigan Association of CPAs. With over 35 years of experience, he is a qualified expert witness in state and federal courts, and a Business Valuation instructor at the state and national level. Recommended Hotel: Hyatt Regency-DTC 7800 E. Tufts Ave. Denver, CO Phone: Hotel Room Rate: $139 Request the CSCPA corporate rate (Please note this rate is subject to availability, and hotel reserves the right to change rate without notice.) About Accredited Business Valuation (ABV) Credential ABV credential holders may position themselves as premier business valuation service providers who differentiate themselves by gaining skills beyond the core service. Before obtaining this credential, a candidate must meet a number of requirements. This program will help you meet a portion of the minimum lifelong-learning CPE requirements. Please note that the 2011 National Business Valuation School does not offer ABV certification but it is applicable as specialized training education when applying for the ABV certification. All candidates should also consider additional training and preparation options prior to taking the exam. The 2011 ABV Exam will be offered: Spring 2011 May 30 th through June 30 th Fall 2011 November 7 th through December 10 th Learn more about the ABV Credential in the Membership section of the AICPA FVS website at

7 July 11-15, 2011 / New York, NY American Institute of CPAs 1211 Avenue of the Americas 19th floor New York, NY Register by 5/27/11 and Save $75! Please note photo ID is required for access. Speakers: Robin E. Taylor, cpa/abv, cfe, cva, cba Robin is a partner in the regional accounting firm of Dixon Hughes PLLC, where he specializes in business valuations and fair value for financial reporting. He is the current chair of the AICPA Business Valuation Committee, and teaches valuation and forensic courses for the AICPA. Robin has provided expert witness testimony in the area of business valuations, and testified in other areas, including government contracts and damages quantification. He has written articles for professional publications such as the CPA Litigation Service Counselor, the National Litigation Consultant s Review and other business journals, and is a co-author of Financial Valuation: Applications and Models, published by Wiley Finance. Mark Zyla, CPA/ABV, CFA, ASA Mark Zyla is a Managing Director of Acuitas, Inc., an Atlanta-based valuation and litigation consultancy firm. He is a frequent presenter and author on valuation issues. He is the co-author of the course, Fair Value Accounting: A Critical Skill for All CPAs and author of Accounting for Goodwill and Other Intangible Assets, published by the AICPA. Mark is also the co-author of Fair Value Measurements: Valuation Principles and Auditing Techniques published in 2007 by Tax Management, Inc., a division of the Bureau of National Affairs. He recently completed Fair Value Measurements: Practical Guidance and Implementation, published by John Wiley & Sons. Recommended Hotels: Crowne Plaza Times Square 1605 Broadway (49th St.) New York, NY Phone: / Hotel Room Rate: $270 single/double Request the AICPA corporate rate The Muse Hotel 130 West 46th St. New York, NY Sheraton Manhattan at Times Square 790 7th Ave. (51st St.) New York, NY Phone: /877.NYC.MUSE Hotel Room Rate: $259 king deluxe/ $309 executive king Request the AICPA corporate rate Phone: / Hotel Room Rate: $199 single/double Request the AICPA corporate rate (SET account #69569) Sheraton New York Hotel & Towers 811 7th Ave. (53rd St.) New York, NY Phone: / Hotel Room Rate: $239 single/double Request the AICPA corporate rate (SET account #69569) (All rates are subject to availability) Learn more or register cpa2biz.com

8 AICPA Store/Cpa2Biz 220 Leigh Farm Road Durham, NC National Business Valuation School Membership/registration information AICPA Member? Yes No AICPA Member No. Nickname for Badge Business Telephone Title Address Please photocopy this form for additional registrants. If the information on your label is incorrect, please complete the following: LAST NAME F first NAMe MI Firm name or Affiliation STREET ADDRESS SUITE PO BOX CITY STATE ZIP In accordance with the Americans with Disabilities Act, do you have any special needs? Yes No (If yes, you will be contacted.) 11CPA-449 BVSCH*11 GA (051611), CO (061311), NY (071111) National Business Valuation School To register: cpa2biz.com/conferences Conference fees Please circle appropriate rate. Payment information Full payment must accompany registration form. Select Location: Atlanta, GA (BVSCH111) Denver, CO (BVSCH211) NEW YORK, NY (BVSCH311) FVS AICPA Non- Member Member Section My check for $ payable to AICPA is enclosed. OR Please bill my credit card for $ American Express Diners Club Discover MasterCard Visa Early Bird Registration $1,775 $1,875 $2,175 SAVE $75 by 4/1 (GA), 4/29 (CO), 5/27 (NY) Regular Registration $1,850 $1,950 $2,250 Total $ $ $ CARD NO. EXP. DATE BILLING NAME SIGNATURE AICPA Use Only BVSCH*11 Customer No. Promotion Code Prsrt-std U.S. Postage PAID AICPA/CPA2biz