**NEW** A Valuers Guide to the Black Scholes Option Model
One of the most important concepts in modern financial history, the Black-Scholes model is regarded as one of the best ways in determining fair prices of options, and is still widely used today. This course will cover: The Language of Options; Assumptions within the Black Scholes Model; Some of the Intellectual Heritage Behind the Model; The Structure of an Option Model Ignoring Risk; Euler’s Constant or the Exponential Number and Natural Logarithms; Continuous Compounding and Discounting; Application to the Black Scholes Model; Volatility; Volatility and Returns; The Risk-Free Rate and Dynamic Hedging; The “N” Function in the Black Scholes Mode; Volatility Applied to the Strike Price; The Value of N(d1); Application to Private Companies. REGISTER TODAY!
Valuing Minority Interests
Learn what a minority interest is and its importance in business valuation. This course will give you a thorough understanding of the topic, covering major aspects of valuing minority interests: Measuring the Control Premium and Discount for Lack of Control and Measuring the Discount for Lack of Marketability (DLOM), and the different models used to quantify and support the discounts. REGISTER TODAY!
Valuing Early-Stage Companies
This online course is a comprehensive guide to understanding the valuation of early-stage companies. You will learn the common models used to deploy valuations in this area – Current Value Method (CVM), Option Pricing Model (OPM), Probability Weighted Wxpected Return Method (PWERM), and the Hybrid Method – their shortcomings, and the source data required to use each model. REGISTER TODAY!
Valuing Intangible Assets
This course seeks to identify the differences between intangible and tangible assets, the major categories of intangible assets and the specific types within each category; you will also be introduced to the common models used to value the different types of intangible assets and understand the financial reporting contexts in which these assets are most often valued, including purchase price allocation. REGISTER TODAY!
International Cost of Capital
This online course covers the commonly applied models in developing international cost of capital, such as: Relative Volatility Model (RVM), the Erb-Harvey-Viskanta Country Credit Rating Model, Country Yield Spread Model, and the Damodaran Model. You will also understand the shortcomings of each model in terms of its ability to capture the systematic and unsystematic risk in a subject company. REGISTER TODAY!
International Business Valuation Standards and Ethics
Valuation is a global profession, and for many that means complying with the new 2017 International Valuation Standards and Code of Ethical Principles. This comprehensive eLearning course delivers what you need to know to demonstrate global valuation competency and understand the significant changes to the standards. See practical and relevant examples by working through an actual case study that follows all of the logical steps of a valuation engagement. Hold yourself to a higher global standard and be prepared to venture wherever your next valuation assignment takes you.Register Here
DLOM: Building, Supporting and Reconciling Multiple Models
There are 75 methods to determine a DLOM. Navigate through the maze of methods with experts Jim Alerding and Josh Angel as they point out the primary methods that you need to master. With a fresh understanding after researching and co- authoring the Discount for Lack of Marketability Guide and Toolkits, our experts show you how to determine a DLOM from those methods, and, more importantly, they help you build the knowledge on how to support the method you choose. See examples on how to reconcile multiple methods, and get a final conclusion that is both comprehensive and defensible. Understand the “warts” of the various methods and how to take those into consideration during your engagement or when opposing another expert.Register Here
Tour de Value: Team iiBV Tours the Global Valuation Landscape
Valuation is maturing around the globe, and few have more first-hand exposure than the expert instructors from the International Institute of Business Valuers. To celebrate the recent education partnership between iiBV and BVR, we have brought the professionals who teach iiBV courses and practice around the globe and put them at our table. Join John Hawthorne, Mark Weston, Andrew Strickland, Jeff Tarbell, John Barton, Ray Rath and moderator Ray Moran for a sprint to the finish of the issues, insights and developments that impact a BV professional, no matter where they set up shop.Register Here
**Special Bundle iiBV 210 to 214**
Get the full benefit of world-class valuation education (and save) by purchasing all five courses from the iiBV education series. This combines our courses on Valuing Intangible Assets, Valuing Early Stage Companies, Valuing Minority Interests, International Cost of Capital and our NEW A Valuers Guide to the Black Scholes Option Model, into a comprehensive next step in becoming a valuation expert. Highlights of this eLearning course bundle include: Five world-class valuation eLearning courses bundled with a $200 savings Earn five Certificates of Knowledge Qualifies for iiBV 210, 211, 212, 213, and 214 credit REGISTER TODAY!
Advanced Workshop on Cost of Capital
In the Advanced Workshop on Cost of Capital, BVR welcomes Roger Grabowski for an in-depth examination of the state of cost of capital determination. Through an intensive, four-hour presentation, Grabowski will discuss what every appraiser should know when determining a cost of capital in today’s economy, using all available information, and taking into account current controversies.Register Here
Science and Uncertainty: Valuation in the Bio-Medical Industry
Valuation is often said to be “an art, not a science” in recognition of the uncertainties involved. The valuation of biomedical companies, though science-based businesses, is no less susceptible to uncertainty. Indeed, the biomedical industry is riskier than many other industries due to the particular regulatory and economic factors involved. Ignoring these factors may result in the doctor calling a “code blue” on your valuation. Join technology and valuation expert John Elmore in a discussion of cogent approaches and methods for valuing biomedical company assets and business interests for financial reporting, taxation, litigation, and other purposes. This session will summarize the economic and regulatory environment of the biomedical industry and address how valuation analysts can model the complexities and uncertainties inherent to the industry.Register Here
Why Your Multiple May Be Wrong: Forgotten Statistical Concepts and Their Invaluable Application
In the November, 2014 issue of Business Valuation Update™, Robert Dohmeyer and Herbert Kierulff posited that “many appraisers have missed the statistical and causal subtleties inherent in both luck and skill, adhering to conventional wisdom that says ‘companies with superior margins deserve a premium multiple.'” In this live presentation of this and a subsequent article on the proper implementation of mean, median, and harmonic mean, Dohmeyer and Kierulff address how the nuances of statistical methods and measures are being overlooked at the expense of a sound and defensible conclusion of value.Register Here
International Cost of Capital: Practical Applications
International cost of capital is rapidly evolving. Changes to global markets have altered the basic economic factors upon which this analysis is based, while drawing out the importance of international cost of capital and shifting the landscape of tools and resources available for its analysis. In “International Cost of Capital: Practical Applications,” experts Nancy Czaplinski and Linda Sweet cover various methods of considering cost of capital for countries other than the United States, especially in project situations whereby multiple countries must be considered. Their discussion also includes application to both U.S. currency-based projections and country-specific currency projections. Country examples also include high inflation countries.Register Here
UK Case Law Update: Recent Decisions that Impact Your Valuation
Business valuation is undergoing significant evolution in the UK, and it’s impacting the way valuations are treated in Court. Join valuation experts Andrew Strickland and Luke Morris for a look at recent UK cases which address key areas of business valuation, including the increased use of definitions from the International Valuation Standards in Court. Get briefed on four cases that challenge the roles of UK valuation experts, and get tips for using financial models in contentious valuations. See illustrative examples and learn practical lessons derived from the Court’s decisions, and bring your questions to gain valuable insights you can apply in your next valuation.Register Here
Monte Carlo: Applications, Examples and Best Practices for Valuation
As complexity and uncertainty continue to increase, business valuation experts must up their game to master the challenges that accompany today’s engagements. Rise to – and soar beyond – the occasion using Monte Carlo simulations, an indispensable method for advanced valuation scenarios. This eLearning course, “Monte Carlo: Applications, Examples and Best Practices for Valuation” distills the best instruction and content on the topic, and covers a wide variety of Monte Carlo applications, including when valuing options, securities, and relevance for in-process research and development. Work with examples, download templates, and learn from the experts as they share essential knowledge about Monte Carlo simulations and how best to put this method to work for you in your next engagement.Register Here