Understand when to have a business valuation performed and what professional standards apply to these engagements.
Oftentimes, business owners need to know the value of their business or interests therein. Whether it is for succession or exit planning purposes, a measure of economic damages, or for income, estate, or gift tax purposes, knowing the value of the asset is critical to proper planning. This topic will help those advising business owners identify when it is appropriate to have a business valuation performed and what professional standards apply to these engagements. By understanding the different standards of value and valuation approaches, advisors can assist business owners in making critical decisions as well as making sure they are compliant with federal income, estate, and gift tax rules. These advisors will also be able to understand business valuation reports and schedules and provide meaningful input into the planning and compliance processes.
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Why Lorman?
Over 39 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Reasons for a Business Valuation
- Estate and Gift Tax Planning and Compliance
- Merger and Acquisition
- Buy-Sell Agreements
- Litigation
- Valuation vs. Calculation Engagements
Understanding the Business Valuation Process
- Appropriate Standard of Value
- Various Valuation Approaches
- Application of Discounts/Premiums
Income Approach
- Forecasting Future Economic Income
- Estimating a Discount Rate
- Discounted Cash Flow vs. Capitalized Cash Flow
Market and Asset Approach
- Guideline Publicly Company
- Guideline Transactions
- Adjusting Historical Assets to Applicable Value
Discounts and Premiums
- Discount for Lack of Control
- Discount for Lack of Marketability
- Others
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Why Lorman?
Over 39 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on October 23, 2025.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.5
- This course has been approved for 1.5 hour(s) of CLE by the Arkansas CLE Board.
- Arizona CLE 1.5
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services/Noggin Guru for auditing purposes. This activity may qualify for up to 1.5 hour(s) toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.5
- Lorman Education Services/Noggin Guru is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hour(s) of participatory credit.
- CT CLE 1.5
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
- GA CLE 1.5
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hour(s).
- HI CLE 1.5
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hour(s).
- NH MCLE 1.6
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services/Noggin Guru believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 99 Minutes.
- NJ CLE 2.0
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 2.0 hour(s) of total CLE credit.
- PA CLE 1.5
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hour(s) of substantive law, practice and procedure CLE credit.
- VT CLE 1.5
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WI CLE 1.5
- This program qualifies for 1.5 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 2.0
- This program has been approved by the West Virginia State Bar MCLE Commission for 2.0 MCLE hour(s).
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- Arizona CLE 1.5
- CA MCLE 1.5
- CT CLE 1.5
- HI CLE 1.5
- VT CLE 1.5
- WV MCLE 2.0
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Credit
More Program Information
Why Lorman?
Over 39 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
John T. Alfonsi, CPA/ABV/CFF, CFE, CVA, MST
Prosperity Partners
- Partner of Prosperity Partners
- Practice focuses on the taxation of high-net-worth individuals and investment entities, including partnerships and S corporations
- Adjunct professor at Walsh College, where he teaches courses in their Masters of Science in Taxation program (partnership taxation and tax accounting)
- Recognized valuation and economic damages expert in federal and various state circuit courts
- Frequent speaker for the Michigan Association of Certified Public Accountants on topics covering taxation, business valuation, and forensic accounting
- Member of the AICPA, MICPA, ACFE, and NACVA
- M.S. Degree in taxation, Walsh College; B.A. Degree in business administration, University of Michigan-Dearborn
- Can be contacted at [email protected] or 866-717-1607
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Why Lorman?
Over 39 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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