Berning & Heidebrecht, Ltd. Business Valuation & Litigation Support Consultants

Transcription

1 Berning & Heidebrecht, Ltd. Business Valuation & Litigation Support Consultants PROFESSIONAL QUALIFICATIONS Richard C. Berning, CPA/ABV, CBA, CVA, ABAR, CFF, CMA PROFESSIONAL CREDENTIALS Certified Public Accountant, 1985 Accredited in Business Valuation, 1998 Certified Business Appraiser, 1997 Certified Valuation Analyst, 1996 Accredited in Business Appraisal Review, 2011 Certified in Financial Forensics, 2008 Certified Management Accountant, 1986 Certified Financial Planner, ( ) PROFESSIONAL EXPERIENCE Shareholder, Berning & Heidebrecht, Ltd. (1997 to present) Preparation of business valuations for gift and estate tax transactions, ESOPs, charitable contributions, marital dissolutions, business succession planning, management planning, mergers and acquisitions, buysell arrangements, dissenting shareholder actions, purchase price allocations, bankruptcy, lost profits and other tax and litigation matters. Expert witness, Court appointed neural expert, FENE and mediator for business valuations, tax and cash flow projections, lost profits/damages calculations, marital/non-marital asset determinations and other litigated matters. Testified more than 125 times in various federal and district courts. Frequent speaker having made more than 120 presentations to local and national legal, accounting, business valuation and other professional organizations. Adjunct Professor of Economics, University of Northwestern St. Paul (2013 to present) Manager, Baune Dosen & Co., PLLP (1986 to 1997) EDUCATION Studied at University of Copenhagen (International Finance); DePaul University (Accounting) Graduated with a Bachelor of Arts from Luther College, Decorah, IA with majors in Accounting and Economics. 809 Meander Court Phone: Medina, MN Fax:

2 Page 2 of 9 PROFESSIONAL AFFILIATIONS American Institute of Certified Public Accountants Minnesota Society of Certified Public Accountants Institute of Business Appraisers, Inc National Associations of Certified North Central Chapter of the Institute of Business Appraisers, Inc. Institute of Management Accountants Training Development Team, Quality Enhancement Team and Technical Support Group of the National Northstar Chapter of the Institute of Management Accountants President and Founder of the National State Chapter of Minnesota Upper Midwest Family Business Advisory Group Former member Professional Programming Center Advisory Board, William Mitchell College of Law Former Chairman, Accounting Careers Committee and former member, Continuing Professional Education Committee of the Minnesota Society of CPAs FACULTY, PUBLICATIONS, SPECIALIZED EDUCATION and HONORS 2015 Faculty: Developed and Presented Minnesota CLE s Family Law Business Valuations Live Webcast Seminar Faculty: Family Law Institute The Top 10 Cases Every Family Lawyer Must Know Minnesota State Bar Association CLE Faculty: Developed and Presented Minnesota CLE s Business Law Series: Advanced Business Valuations Live Webcast Seminar Planning Task Force/Faculty/Education: 25th Annual Business Valuation Conference, University of St. Thomas Faculty: Developed and Presented Minnesota CLE s Business Law Series: Buy-Sell Agreements Live Webcast Seminar Faculty: Developed and Presented Minnesota CLE s Business Law Series: Business Valuation Basics What Judges and Attorneys Really Need to Know Live Webcast Seminar Faculty: Developed and Presented Minnesota CLE s Bankruptcy/Debtor-Creditor Series: Valuations Live Webcast Seminar 2014 Education: Valuing Family Limited Partnerships; and Analysis of Leading Tax Court Cases, Consultants Training Institute Moderator/Host/Education: 2014 Current Topics in Business Valuation, Minnesota Chapter National Faculty: Developed and Presented Minnesota CLE s Family Law Series: Non-Marital Tracing and Other Complex Financial Issues in Divorce Live Webcast Seminar Faculty: Developed and Presented Minnesota CLE s Family Law Series: Understanding the Tax Aspects of Divorce Live Webcast Seminar Planning Task Force/Education: 14 th Annual Business Valuation Conference, Minnesota Society of CPAs Faculty: Business Valuations in the Planned Giving Context for Minnesota Planned Giving Council 2014 Minnesota Planned Giving Conference Faculty: Developed and Presented Minnesota CLE s Buy-Sell Agreements Live Webcast Seminar

3 Page 3 of Faculty: Developed and Presented Minnesota CLE s New Lawyer Experience: What the New Lawyer Needs to Know about Accounting Understanding Business Valuations, Financial Statements, Property Division, and Tax Returns Live Webcast Seminar Faculty: Developed and Presented Minnesota CLE s Reading/Understanding Financial Statements & Tax Returns for Attorneys Live Webcast Seminar Education: Valuation of Oil and Gas Reserves, AICPA Faculty: Developed and Presented Minnesota CLE s Business Valuations: What Judges and Attorneys Really Need to Know Live Webcast Seminar Faculty: Developed and Presented Minnesota CLE s Business Law Series: Business Valuation for Shareholder Disputes Live Webcast Seminar Education: 24th Annual Business Valuation Conference, University of St. Thomas Moderator/Host/Presenter: 2013 Current Topics in Business Valuation, Minnesota Chapter National Faculty: Developed and Presented Minnesota CLE s Family Law Series: Real Nightmares Tracing Non- Marital Interests in Real Property Faculty for Minnesota Society of CPA s 59th Annual MNCPA Tax Conference. Presentation entitled, Tax and Financial Aspects of Divorce Faculty: Developed and Presented Minnesota CLE s Family Law Series: Business Valuation for Divorce Live Webcast Seminar Faculty, Planning Task Force and Education: 13 th Annual Business Valuation Conference, Minnesota Society of CPAs Interviewed and quoted: Changing the Owner s Mindset: Business Valuation for the Real World, The Suit Magazine, October/November 2013 Faculty: Minnesota State Bar Association CLE s Business Valuations What You Need to Know Live Webcast Seminar Faculty: Developed and Presented Minnesota CLE s Reading/Understanding Financial Statements & Tax Returns for Attorneys Live Webcast Seminar Faculty: Minnesota CLE and Minnesota State Bar Association s 34th Annual Family Law Institute. Presentation entitled, Buying and Selling a Law Practice Faculty: Minnesota State Bar Association CLE s Business Law Series: Buy-Sell Agreements Live Webcast Seminar Planning Task Force and Education: 23 nd Annual Business Valuation Conference, University of St. Thomas Moderator/Host/Presenter: 2012 Current Topics in Business Valuation, Minnesota Chapter National Faculty: Minnesota State Bar Association CLE s Intellectual Property Series: Damages a Financial Perspective Live Webcast Seminar Faculty: Minnesota State Bar Association CLE s Introduction to Minnesota Family Law: Divorce Math Financial Calculations in Divorce Cases Seminar Faculty: Minnesota State Bar Association CLE s Business Valuation; What Judges and Attorneys Really Need to Know Live Webcast Seminar Faculty: Minnesota State Bar Association CLE s Managing Complex Family Law Non-Marital Issues Live Webcast Seminar Planning Task Force and Education: 22 nd Annual Business Valuation Conference, University of St. Thomas Faculty: Minnesota CLE and Minnesota State Bar Association s 33nd Annual Family Law Institute. Presentation entitled, Understanding Complex Non-Marital Issues

4 Page 4 of 9 Education: National Current Update in Valuations 2011 Faculty: Minnesota State Bar Association CLE s Intellectual Property Series: Damages a Financial Perspective Live Webcast Seminar Moderator/Host/Presenter: 2011 Current Topics in Business Valuation, Minnesota Chapter National Planning Task Force and Education: 11 th Annual Business Valuation Conference, Minnesota Society of CPAs Faculty: Business and Holding Entity Valuations for Minnesota Planned Giving Council 35 th Annual Planned Giving Conference Faculty: Business Valuations for CPAs Who Won t Be Preparing Independent Valuations for the Minnesota Society of Certified Public Accountants Education: Purchase Price Allocation Tax Issues, Consultants Training Institute Presented: Tax Reform Act of Overview and Opportunities from an Estate Planning Perspective, Financial Planning Association of Minnesota Presented: Reviewing Valuation Reports: Credibility, Reliability and Relevance, Twin Cities Chapter of the American Society of Appraisers Faculty: Minnesota CLE and Minnesota State Bar Association s 32nd Annual Family Law Institute. Presentation entitled, Managing Complex Non-Marital Issues Developed and Presented Minnesota State Bar Association CLE s Business Valuation for Probate & Estate Lawyers Live Webcast Seminar Planning Task Force and Education: 21 st Annual Business Valuation Conference: Is this the New Normal?, University of St. Thomas Faculty: Minnesota State Bar Association CLE s Introduction to Minnesota Family Law: Divorce Math 2010 Financial Calculations in Divorce Cases Seminar Presented: Reviewing Valuation Reports: Credibility, Reliability and Relevance, North Central Chapter of Institute of Business Appraisers Awarded the New Discussion Leader Award by the Minnesota Society of Certified Public Accountants Faculty: Developed and Presented Minnesota State Bar Association CLE s Intellectual Property Series: Damages a Financial Perspective Live Webcast Seminar Faculty: Hennepin County Bar Association s Business Valuation Implications in the Current Economy local seminar Faculty: Basic Family Law Math: Financial Calculations in Divorce Cases, Minnesota CLE Live Webcast Seminar Education: Business Valuations for SBA Loan Purposes, National Association of Certified Valuation Analysts Education: Advanced Techniques for Exceptional Report Writing, Parts I and II, National Association of Certified Moderator/Host/Presenter: 2010 Current Topics in Business Valuation, Minnesota Chapter National Education: Estate & Wealth Transfer Planning for Complex Blended Families, Society of Financial Service Professionals Education: 10 th Annual Business Valuation Conference, Minnesota Society of CPAs Education: Buy-Sell Agreements for Closely Held and Family Business Owners, Mercer Capital Education: 3 rd Annual Summit on Business Valuation in Divorce, Business Valuation Resources and Morningstar Valuation Services, held in Chicago Education: Early Case Management and Early Neutral Evaluation, Minnesota State Bar Association CLE

5 Page 5 of Faculty: Solving the Most Difficult Problems in Divorce Cases, Minnesota State Bar Association CLE Education: 9 th Annual Business Valuation Conference, Minnesota Society of CPAs Faculty: Business Valuations: Family Law Topics, 10 th Judicial District Law Clerks Continuing Legal Education Faculty: Developed and Presented Minnesota State Bar Association CLE s Family Law Series: Advanced Business Valuation and Accounting Live Webcast Seminar Faculty: Developed and Presented Minnesota State Bar Association CLE s Family Law Series: General Valuation and Accounting Live Webcast Seminar Faculty: Developed and Presented Minnesota State Bar Association CLE s Basic Family Law Math: Financial Calculations in Divorce Cases Live Webcast Seminar Faculty: Developed and Presented Minnesota State Bar Association CLE s Business Valuation in the Economic Downturn Live Webcast Seminar Faculty: Developed and Presented: Business Valuations for CPAs Who Won t Be Preparing Independent Valuations for the Minnesota Society of Certified Public Accountants Faculty: Developed and Presented: Business Valuations for CPAs in Industry for the Minnesota Society of Certified Public Accountants Faculty: Hennepin County Bar Association s Business Valuation in the Economic Downturn local seminar Moderator/Host/Presenter: 2009 Current Topics in Business Valuation, Minnesota Chapter National Education: National Current Update in Valuations Education: American Society of Appraisers 19th Annual Business Valuation Conference. Riding out the Storm: How Do You Assess Risk and Determine Value in a Turbulent Economy? Faculty: Probate and Trust Law Section Conference, Minnesota State Bar Association CLE Education: 8 th Annual Business Valuation Conference, Minnesota Society of CPAs Faculty: Developed and Presented Minnesota State Bar Association CLE s Business Valuation: What You Really Need to Know Live Webcast Seminar Faculty: Minnesota Paralegal Association s October meeting. Presentation entitled Fundamentals of Business Valuation Education: How to Properly Understand and Use Ibbotson Data, Financial Consulting Group Faculty: Hennepin County Bar Association s What is a Business Worth? What the Numbers Really Mean Local Seminar and Live National Webcast Attended VPA/FCG s Cost of Capital: A Consensus View? Conference Faculty: Minnesota CLE and Minnesota State Bar Association s New Lawyer Experience. Presentation entitled, Reading Financial Statements and Tax Returns for Lawyers. Education: 18 th Annual Business Valuation Seminar, University of St. Thomas 2007 Faculty: Developed and Presented: Advanced Buy/Sell Agreements and Business Continuation Planning, Live Webcast Seminar, Minnesota State Bar Association CLE Education: Current Topics in Business Valuation, Minnesota Chapter National Association of Certified Education: Working Through the Business Valuation Standards Maze, National Association of Certified Education: 7 th Annual Business Valuation Conference, Minnesota Society of CPAs Faculty: Divorce Camp 2007, Minnesota Chapter of the American Academy of Matrimonial Lawyers

6 Page 6 of Faculty: Developed and Presented: Avoiding the Six Mistakes that can Destroy Your Client s Business and Future, Live Webcast Seminar, Minnesota State Bar Association CLE Faculty: Hennepin County Bar Association s Business Valuation: What Attorneys and Judges Need to Know Seminar Presented (repeat presentation) Minnesota State Bar Association CLE s Reading Financial Statements and Tax Returns for Lawyers Live Webcast Seminar Presented (repeat presentation) Minnesota State Bar Association CLE s Introduction to Business Valuation for Attorneys Live Webcast Seminar Faculty: Developed and Presented: Understanding Non-Marital Tracing Live Webcast Seminar, Minnesota State Bar Association CLE Faculty: Business Killers : Avoiding the 6 Mistakes that Can Destroy Your Business and Your Future Seminar Interviewed and quoted: Net Worth: How and When to Start Thinking About Increasing Your Businesses Value, Minnesota Technology Magazine, Winter 2007 Faculty: Divorce Camp 2006, Minnesota Chapter of the American Academy of Matrimonial Lawyers Faculty: Developed and Presented: Reading Financial Statements and Tax Returns for Lawyers Live Webcast Seminar, Minnesota State Bar Association CLE Faculty: Current Topics in Business Valuation, Minnesota Chapter National Association of Certified Education: 6 th Annual Business Valuation Conference, Minnesota Society of CPAs Faculty: Developed and Presented: Introduction to Business Valuation for Attorneys Live Webcast Seminar, Minnesota State Bar Association CLE Education: Early Stage Company Valuations, Business Valuation Resources Moderator for Minnesota CLE and Minnesota State Bar Association s The Lawyer s Guide to Business Valuations video replay Education: Critiquing Business Valuation Reports, The Institute of Business Appraisers held in Fort Lauderdale, Florida. Education: Calculating Goodwill: What is Personal and What is Professional?, Business Valuation Resources Education: Mediation Training for Financial Professionals, Dispute Resolution Services Course Chair and Faculty: The Lawyer s Guide to Business Valuations, Minnesota State Bar Association CLE Faculty: Current Topics in Business Valuation, Minnesota Chapter National Association of Certified Education: Succeeding as an Expert Witness, Business Valuation Resources Moderator/Host: Current Topics in Business Valuation, Minnesota Chapter National Association of Certified Education: How to Discount for Trapped-In Capital Gains Tax Business Valuation Resources Education: Entity vs. Personal Goodwill Revisited Business Valuation Resources Education: 4 th Annual Business Valuation Conference, Minnesota Society of CPAs Education: 14 th Annual Business Valuation Seminar, University of St. Thomas

7 Page 7 of Moderator/Host: Current Topics in Business Valuation, Minnesota Chapter National Association of Certified Faculty: 49 th Annual Tax Conference, Minnesota Society of CPAs Education: 3 rd Annual Business Valuation Conference, Minnesota Society of CPAs Education: Advanced Valuation Issues in Divorce and Other Litigation Disputes, American Institute of CPAs Faculty: 13 th Annual Business Valuation Seminar, University of St. Thomas Faculty: Educational Meetings, National Minnesota Chapter Author: Tax and Financial Aspects of Divorce, Practical Estate Planning published by CCH Incorporated Education: 2 nd Annual Business Valuation Conference, Minnesota Society of CPAs Education: Current Updates in Valuation, National Education: Legal and Tax Consequences of Divorce, Bisk Education Faculty: Tax Institute, Minnesota State Bar Association CLE Faculty: Educational Meeting, National Minnesota Chapter Author: Business Valuations: Choosing an Expert and the Report You Need, Family Law Forum published by Minnesota State Bar Association Family Law Section Author: At Least They Didn t Call it Tax Simplification, Family Law Forum published by Minnesota State Bar Association Family Law Section Reviewer: International Valuation Handbook by Leadenhall Australia Limited Education: Annual Business Valuation Conference, National in Chicago, Illinois Faculty: Business Valuations: Maximizing the Most Valuable Assets of Many Estates, Financial Planning Association Faculty: 10 th Annual Business Valuation Seminar, University of St. Thomas Faculty: Probate & Trust Law Conference, Minnesota State Bar Association CLE Faculty: Probate & Trust Week: Estate Entity Selection, Minnesota State Bar Association CLE Faculty: Divorce Camp X, American Academy of Matrimonial Lawyers Minnesota Chapter Faculty: Minnesota Planned Giving Conference, Minnesota Planned Giving Council Faculty: Tax Aspects of Divorce in Minnesota, National Business Institute Faculty: MEGA Conference, Minnesota Society of CPAs Faculty: Business Valuations for the Family Law Attorney, Ramsey County Bar Association Family Law Section Faculty: A Guide to Business Valuations and Divorce Taxation Issues, Minnesota Society of the Institute of Certified Financial Planners Faculty: 1999 National Conference, Institute of Business Appraisers in Orlando, Florida Co-author: Effective Use of the Business Appraiser in a Divorce Case, Judges and Lawyers Business Valuation Update published by Business Valuation Resources, LLC. Education: Valuation Ethics, Standards & Reporting An Update, National Association of Certified

8 Page 8 of Education: Business Valuation: Cutting Edge Issues and the Practitioner, University of St. Thomas Fall Symposium Education: Current Valuation Developments for Transactions and Litigation Willamette Management Associates Education: How to Build a Profitable Charitable Practice Minneapolis Jewish Federation and Shalom Foundation Education: Quantifying Marketability Discounts, The Institute of Business Appraisers Master Class in Orlando, Florida Education: ADR Institute, Minnesota State Bar Association CLE Faculty: Minnesota Planned Giving Conference, Minnesota Planned Giving Council Advanced Life Underwriting Institute, Faculty: Minneapolis Association of Life Underwriters Faculty: Learning Institute, National in Reno, Nevada and Cincinnati, Ohio Faculty: 1998 National Conference, College for Financial Planning in Denver, Colorado Faculty: Business Valuations and the Expert Witness, Faculty, Olmsted County Bar Association Family Law Section Faculty: Certified Family Law Mediation Training, Minnesota Sate Bar Association CLE Education: ADR Institute, Minnesota State Bar Association CLE Education: Corporate Consumers of ADR Services: What do they Use and Why? Minnesota State Bar Association Education: Neutral Accountants CPAs as ADR Neutrals Minnesota State Bar Association Faculty: Tax Aspects of Divorce in Minnesota, National Business Institute Faculty: Certified Family Law Mediation Training, Minnesota Sate Bar Association CLE Faculty: Equitable Distributions in Divorce Settlements in Minnesota, National Business Institute Faculty: Working With or Against a Business Appraiser, Ramsey County Bar Association Family Law Section Faculty: Effective Marital Dissolution Practice, Minnesota State Bar Association CLE Education: Certified Mediation Skills Training, Minnesota State Bar Association CLE Education: Family Law Institute, Minnesota State Bar Association CLE Faculty: Tax Aspects of Divorce in Minnesota, National Business Institute Faculty: Effective Marital Dissolution Practice, Minnesota State Bar Association CLE Education: Family Law Institute, Minnesota State Bar Association CLE Education: Successfully passed American Society of Appraisers Examination Education: National Business Valuation Conference, AICPA in Phoenix, Arizona Faculty: Effective Marital Dissolution Practice, Minnesota State Bar Association CLE Education: Family Law Institute, Minnesota State Bar Association CLE Education: Cost of Capital Workshop, Ibbotson Associates in Chicago, Illinois Education: Business Valuation Engagements Practitioner Publishing Company Education: Divorce Related Services Practitioners Publishing Company Faculty: Valuing Closely-Held Businesses and Professional Practices, Lorman Education Services, Cincinnati and Columbus, Ohio Education: Divorce Related Services Practitioners Publishing Company

9 Page 9 of Education: National Conference on Divorce, AICPA in Las Vegas, Nevada Faculty: Taxation, Management Accounting and LOTUS, Minnesota School of Business Education: National Conference on Litigation, AICPA in Las Vegas, Nevada Education: Valuations of a Closely Held Business Minnesota State Bar Association CLE Faculty: Taxation, Management Accounting and LOTUS, Minnesota School of Business