The Princeton Chapter of the American Society of Appraisers is proud to announce its November 19, 2018 meeting.

AVOIDING VALUATION SURPRISES
In Accounting for M&A Transactions

Edward Hamilton, CFA and Sean Woodward of Valuation Research Corporation (VRC) will present a case study of an acquisition and discuss several valuation and financial reporting concepts surrounding the sample case. Topics include: Purchase price allocation; FASB Standard ASC 606; valuation of inventories, PP&E, & intangible assets; goodwill impairment analysis; and audit review/PCAOB scrutiny.

Edward Hamilton is a Senior Vice President at VRC. Mr. Hamilton specializes in the valuation of businesses and assets and liabilities for financial reporting purposes. In particular, he focuses on the valuation of intellectual property/intangible assets such as trademarks, technology, software, customer relationships and IPR&D. He is an active member of the AITF and is currently involved with the Appraisal Foundation Working Group preparing a Practice Aid for the valuation of customer relationships.

Sean Woodward is a Senior Analyst in VRC’s financial reporting valuation group. Prior to VRC, Mr. Woodward was a Portfolio Valuation Analyst with Duff & Phelps, LLC where he specialized in the valuation of illiquid financial instruments. He also worked at UBS financial Services and served as a Sergeant in the United States Marines.

The Princeton Chapter of the American Society of Appraisers is proud to announce its September 24, 2018 meeting.

Preparing for a Graceful Exit: A Blueprint for Growing and Selling Your Business

Michael S. Goodman, Esq. and Michael P. Weiner, Esq. of Fox Rothschild LLP and John L Varga, ASA of Management Planning, Inc. will discuss business succession planning for owners of closely-held businesses. The areas of discussion will include pre-planning and short-term planning needs, negotiation strategies, and long-term planning after an exit. The presentation will also cover middle market M&A news and trends thus far in 2018, including trends of deal multiples.

Michael Weiner is a member of Fox’s Corporate practice. For more than 35 years, he has represented clients ranging from sole proprietorships to publicly held corporations in a wide variety of industries pursuing transactions including mergers, acquisitions, divestitures, joint ventures and commercial arrangements. With a particular focus on mergers and acquisitions, Michael has represented both buyers and sellers (strategic and financial) in many platform and add-on transactions.

Michael Goodman's practice focuses on: estate planning and administration, planning for formation of business entities, succession of entity management and/or ownership, and income tax planning representation before taxing authorities.

John Varga is a partner at Management Planning, Inc. ("MPI"), a national consulting firm providing business valuation & advisory services to closely held companies. MPI's valuation services are prepared for estate and gift tax planning, transaction/exit planning, financial reporting, and litigation support.

The Princeton Chapter of the American Society of Appraisers is proud to announce its May 21, 2018 meeting.

Our guest speaker will be Bjørn A. Midtlyng, CFA, a Partner at Management Planning, Inc. Bjørn will be discussing common approaches utilized for early stage life science company valuations.

Bjørn joined MPI in 2003 and is currently a Partner working out of the firm’s headquarters in Princeton, NJ.  He has been involved with complex valuation assignments associated with a wide variety of client engagements.  Bjørn specializes in financial modeling and valuation analysis of privately-held and venture-backed enterprises, illiquid and thinly-traded financial instruments and complex securities for the purposes of corporate planning, transaction advisory, financial reporting and tax compliance.  Particular areas of focus include the healthcare, life sciences and financial services industries.

The Princeton and Southern New Jersey Chapters of the American Society of Appraisers are proud to announce a joint meeting on Monday, March 19, 2018 at 6pm. Of course, members of any ASA chapter are encouraged to attend!

Our guest speaker will be the Region 1 Governor of the ASA, Gary Snowdon, ASA. Gary will talk about recent developments and news regarding ASA, the Board of Governors, and Region 1.

Gary has been a full-time commercial real estate appraiser since 1992, and has appraised properties throughout the Hudson Valley, Capital, Saratoga, and Adirondack regions for finance, litigation support, estates, eminent domain, conservation, and other purposes. His experience includes appraisals, reviews, and counseling for office buildings, restaurants, retail buildings and strip malls, mobile home parks, hotels, auto dealerships, medical facilities, resorts, marinas, military bases, historic communities, vacant land, and other commercial, institutional, and industrial properties.

Gary is an Accredited Senior Appraiser (ASA) of the American Society of Appraisers and a Senior Member (IFAS) of the National Association of Independent Fee Appraisers. 

The Certified in Entity and Intangible Valuations™ (CEIV™) credential is intended for professionals who perform fair value measurements for public company financial statement reporting purposes. This includes estimating the fair values of businesses and/or business interests for goodwill impairment testing and stock compensation purposes, and intangible assets for purchase price allocation and impairment testing purposes.

Charles S. Sapnas, CFA, ASA of Valuation Research Corporation holds the CEIV credential. Charles will discuss the process of obtaining the credential and how this is expected to impact his day-to-day valuation practice. 

Charles is a Senior Vice President at Valuation Research Corporation. He specializes in business enterprise valuations, purchase price allocations and impairment analyses and intellectual property valuations for financial reporting and tax purposes. He has completed engagements in most major industries.

Please join us on Monday, September 19, 2016, as J. Mark Penny, ASA, ARM-BV of Hempstead & Co., LLC discusses ASA's Appraisal Review and Management designation, ARM. The ARM designation is a great way to increase the diversity of services in your appraisal practice.

Appraisal review is an objective exercise measuring appraisal work against established standards and logic. Appraisal management appraisers are professionals who participate in managing multi-discipline appraisal practices. 

The American Society of Appraisers offers a specialty designation in Appraisal Review and Management, ARM. Currently, all active Accredited Senior Appraisers (ASA) in the PP, RP, MTS, BV and GJ disciplines are eligible to earn an ARM designation.

About the Speaker:  Mr. Penny is a Managing Director of Hempstead & Co. in Haddonfield, New Jersey. He prepares valuation analyses of privately held firms for numerous purposes including recapitalizations, equitable distributions, estate planning, employee stock ownership plans, mergers and acquisitions, fairness opinions, purchase price allocation and calculation of economic damages. Mr. Penny is also experienced in estimating the value and useful life of intangible assets including goodwill, customer lists, franchises, trademarks, tradenames and professional degrees. Mr. Penny has been qualified as an expert witness and testified in New Jersey, New York, Pennsylvania, Delaware and Florida. He has lectured on the topic of business valuation on behalf of the National Center for Employee Ownership and before estate planning groups.

Ray Moran, ASA, MRICS  presents China: Inbound and Outbound Investments. Ray has lived and traveled extensively throughout China, and has been involved in valuations with Chinese businesses for 15 years. Ray will present a discussion of valuation, business, and cultural issues that arise during this process. 

Ray Moran is CEO of MG Valuation and is responsible for strategic planning, sales and marketing, engagement coordination and execution, and quality control. MG Valuation is an independent valuation firm serving clients in the Americas, Europe and Asia/Pacific. Ray specializes in the valuation of cross-border Mergers and Acquisitions, and business in China and Asia/Pacific.

Click here to download a copy of Ray's presentation.

Charles S. Sapnas, CFA, ASA of Valuation Research Corporation will provide an update on current topics discussed at the 2015 Advanced Business Valuation Conference that was held in Las Vegas on October 18-21.

Charles is a Senior Vice President at Valuation Research Corporation. He specializes in business enterprise valuations, purchase price allocations and impairment analyses and intellectual property valuations for financial reporting and tax purposes. He has completed engagements in most major industries.

David Sleeman and Brian Ward of Winston Art Group will present this month's topic: Valuations of Wine, Art, and Collectibles. 

David brings more than 16 years of experience in the art world to Winston Art Group. David is on the Steering Committee of Professional Affiliates for the Appraisers Association of America, and has served on the Inland Marine Underwriting Association Arts and Records Committee. He lectures extensively around the country at museums, corporations, art fairs, and to private collectors. Additionally, he has taught at the Sotheby’s Institute of Art, in New York. David will discuss appraising art and collectibles and art as an asset class.

Brian has been in the collectibles industry for 13 years. At Winston Art Group, Brian conducts appraisals of fine and rare wine collections for all purposes, in addition to assisting with sales, acquisitions, inventory and collection management for clients with wine collections. Brian will discuss valuations of wine collections and the current wine market.