In today’s uncertain market with high capital costs and changing investor demands, startup valuation requires both expertise and adaptability. Valuation specialists Ross McSwain and Charles Gallman discuss how economic challenges are shaping current models and highlight the growing importance of founder vision and qualitative factors.

They outline cost, market, and income approaches for different growth stages, referencing AICPA guides and practical experience, and stress the need to align methods with milestones and capital structure.

Key takeaways 

• Valuation shifts as startups grow
• Qualitative factors matter
• VC return goals set discount rates
• Cost approach applies beyond early stages

Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses.

Guests:

• Charles Gallman, CPA/ABV, Managing Director, Advisory Services, Grant Thornton
• Ross McSwain, ABV, Managing Director, Advisory Services, Grant Thornton

Host:  Nene Glenn Gianfala, CPA/ABV, Senior Vice President – Valuation Advisory Group, Chaffe & Associates

Please share your thoughts about the episode - click here to leave us a review  

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

 RESOURCES FOR FURTHER EXPLORATION If you’re using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links. 

Check out early bird and special discounts for AICPA and FVS Section members, and ABV, CFF and CVFI credential holders

• AICPA Forensic & Valuation Services Conference, Oct 28-30, Aurora, CO, in person and online
• AICPA Expert Witness Skills Workshop, Oct 28-30, Aurora, CO,in person only
• Business Valuation School - Sep 8-12, Raleigh NC, in person only
• Business Valuation School - Dec 1-5, Live online

Accounting and Valuation guides from AICPA  If you are an AICPA-FVS Section member see below for free access to these guides

• Valuation of Privately Held Companies Equity Securities Issued as Compensation
• Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies
• Assets Acquired to Be Used in Research and Development Activities - Accounting and Valuation Guide

Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content

• Valuation of Privately Held Companies Equity Securities Issued as Compensation
• Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies
• Assets Acquired to Be Used in Research and Development Activities - Accounting and Valuation Guide

The FVS Valuation Podcast archives

• Early-Stage Valuation, A Conversation with author Antonella Puca
• 409A Valuations – What you Need to Know
• Valuation Considerations in Equity Compensation

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:

Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic

Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic

Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]

FVS Valuation subject matter experts Josh Shilts and Dave Consigli address current challenges encountered by professionals conducting valuations, emphasizing that these competencies remain fundamental — mirroring those required during the Covid period. Their discussion highlights several important insights:

• Embracing Economic Volatility: Ongoing economic uncertainty has become a constant factor, making adaptability essential for valuation professionals.
• Assessing Client Risk Management: It is critical to evaluate how clients are managing financial, operational, and strategic risks.
• The Importance of Industry Knowledge: In-depth understanding of industry dynamics remains vital.
• Composition and management of a company's workforce – especially in the context of generational shifts and the integration of AI.

Guest: Josh Shilts, CPA/ABV/CFF/CGMA, Forensic & Valuation Services Director, Dean Dorton Host: David Consigli, Jr. CPA/ABV, CDFA, Partner, FAZ Forensics

Please share your thoughts about the episode - click here to leave us a review  

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

RESOURCES FOR FURTHER EXPLORATION If you’re using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links. 

Check out early bird and special discounts for AICPA and FVS Section members, and ABV, CFF and CVFI credential holders

• AICPA Forensic & Valuation Services Conference, Oct 28-30, Aurora, CO, in person and online
• AICPA Expert Witness Skills Workshop, Oct 28-30, Aurora, CO,in person only
• Business Valuation School - Sep 8-12, Raleigh NC, in person only
• Business Valuation School - Dec 1-5, Live online

Check out these free resources

• Statement on Standards for Valuation Services (VS Section 100)
• Disaster Relief Resource Center
• Tariff Resource Center
• Demystifying M&A Valuation Engagements - What Sellers (and Buyers) Need to Know
• Navigating Business Interruption Claims | FVS webcast archive

Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content

• AICPA VS Section 100 subsequent event toolkit
• Considerations when valuing distressed or impaired businesses FAQs
• Providing Bankruptcy and Reorganization Services, Vol. 2: Valuation in Bankruptcy | FVS Practice Aid
• Calculating Lost Profits | FVS Practice Aid
• FVS Quick Reference Guide: Standards and Premises of Value

The FVS Valuation Podcast archives

• Complexities Of Subsequent Events in Business Valuation
• Enhancing Professional Growth through AICPA FVS Section Resources and Participation
• Transparency in Private Market Valuations

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:

Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic

Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic

Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]

AI is becoming increasingly important in managing, analyzing, and optimizing investments and influencing how we navigate the interdependencies of capital and data flows, reporting, and legal and regulatory requirements in the private markets.  This discussion between experts Andreas Dal Santo of BlueVal, Chandu Chilakapati of Aprio, and Prof. Michael Weinberg of Columbia Business School – practicing experts in finance, investment, and valuation - highlights many of the benefits, challenges, and future potential of AI in the world of alternative investments and financial instrument valuation.  

• AI encompasses numerous subcategories, each with different applications, risks, and opportunities
• No clear uses for AI in alternative investments and valuation without continued human oversight
• AI might result in some industry jobs being lost, but there will likely also be new types of jobs created

Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses.

Guests:  

• Chandu Chilakapati, Aprio
• Andreas Dal Santo, ABV, CFA, BlueVal
• Michael Weinberg, Adjunct Professor, Columbia Business School

Host: Howard Mah-Lee, Senior Manager, AICPA Valuation Services

Please share your thoughts about the episode - click here to leave us a review  

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

 RESOURCES FOR FURTHER EXPLORATION If you’re using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links. 

Check out early bird and special discounts for AICPA and FVS Section members, and ABV, CFF and CVFI credential holders

• AICPA Forensic & Valuation Services Conference, Oct 28-30, Aurora, CO, in person and online
• AICPA Expert Witness Skills Workshop, Oct 28-30, Aurora, CO,in person only
• Business Valuation School - Sep 8-12, Raleigh NC, in person only
• Business Valuation School - Dec 1-5, Live online

Accounting and Valuation guides from AICPA  If you are an AICPA-FVS Section member see below for free access to these guides

• Valuation of Privately Held Companies Equity Securities Issued as Compensation
• Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies

Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content

• Valuation of Privately Held Companies Equity Securities Issued as Compensation
• Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies

The FVS Valuation Podcast archives

• Using AI In Your Valuation Practice
• Valuing Complex Financial Instruments
• Valuation Considerations in Equity Compensation 

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:

Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic

Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic

Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]

Dave and Lisa explore the intricacies of the market approach highlighting the importance of using reliable market data and multiple valuation approaches to achieve accurate results. They discuss how risk factors and company size influence valuation multiples and provide practical tips for applying these concepts in real-world scenarios. Key takeaways include:

• Combining income, market, and asset approaches helps mitigate the risk of skewed valuation results
• Understanding and adjusting for risk factors, such as customer and supplier risks, is crucial in determining accurate valuation multiples.
• Market multiples should be adjusted for forward-looking earnings and industry-specific risks to ensure they reflect the true value of a business.

Guest: Lisa Cribben, CPA/ABV, Partner, Hawkins Ash CPAs Host: David Consigli, Jr. CPA/ABV, CDFA, Partner, FAZ Forensics

Please share your thoughts about the episode - click here to leave us a review  

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

RESOURCES FOR FURTHER EXPLORATION If you’re using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links. 

Check out early bird and special discounts for AICPA and FVS Section members, and ABV, CFF and CVFI credential holders

• AICPA Forensic & Valuation Services Conference, Oct 28-30, Aurora, CO, in person and online
• AICPA Expert Witness Skills Workshop, Oct 28-30, Aurora, CO, in person only
• Business Valuation School - Sep 8-12, Raleigh NC, in person only
• Business Valuation School - Dec 1-5, Live online

NEW RESOURCE Welcome to a career in forensic and valuation services - early-career guidance, built for you

Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content

• How to use MergerShark to improve your market approach | FVS webcast archive
• Valuation of Privately Held Companies Equity Securities Issued as Compensation
• Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies

 The FVS Valuation Podcast archives

• Women Leaders in Business Valuation 
• The Business Valuation Profession
• Enhancing Professional Growth through AICPA FVS Section Resources and Participation

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:

Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic

Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic

Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]

This is a refreshed version of an episode from July 2021. Some voice distortion may be present. Please scroll down to find links to essential resources that have been developed since the original publish date. 

In this episode, we explore the many paths available to accounting and finance majors who aspire to work in forensics and valuation services particularly as an expert witness. Dean Driskell tells his journey as a forensic accounting and valuation professional. He and host, Josh Shilts, share pivotal moments that have defined their careers and the skills they consider essential for success.

Key Topics Discussed:

• Insights into the diverse career opportunities within the profession
• Practical advice on how to navigate the intersection of finance and accounting through the different stages of one’s career
• Understanding your audience and how it can impact your effectiveness as a professional
• Strategies for developing and honing skills that are essential for success and how to find opportunities to improve these skills

Check out our newest resource Welcome to a career in forensic and valuation services - early-career guidance, built for you (accessible to everyone)

Guest: F. Dean Driskell III, CPA/ABV/CFF, Executive VP, JS Held LLC Host: Josh Shilts, CPA/ABV/CFF/CGMA, Dean Dornton

Please share your thoughts about the episode - click here to leave us a review  

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

RESOURCES FOR FURTHER EXPLORATION If you’re using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links. 

Check out early bird and special discounts for AICPA and FVS Section members, and ABV, CFF and CVFI credential holders

• AICPA Forensic & Valuation Services Conference, Oct 28-30, Aurora, CO, in person and online
• AICPA Expert Witness Skills Workshop, Oct 28-30, Aurora, CO,in person only
• Business Valuation School - Sep 8-12, Raleigh NC, in person only
• Business Valuation School - Dec 1-5, Live online

NEW RESOURCE Welcome to a career in forensic and valuation services - early-career guidance, built for you

The FVS Valuation Podcast archives

• Women Leaders in Business Valuation 
• The Business Valuation Profession
• Enhancing Professional Growth through AICPA FVS Section Resources and Participation

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:

Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic

Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic

Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]

In the evolving world of alternative investments, AICPA's "PE/VC" guide often is only a starting point in the valuation of complex financial instruments.  Valuation specialists in this field combine their experience with formal guidance and financial theory.  Ms. Antonella Puca, Managing Partner at BlueVal, wrote a book on “Early Stage Valuation, A Fair Value Perspective” that summarizes her studies and experience in this field.   We will discuss her journey and hear how she addresses:

• Presenting technical complexity in a clear and concise form
• Influence of the fair value perspective on the scope and perspective of the book
• Ongoing relevance of fair valuation concepts in an evolving industry and economy

Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses.

Guest: Antonella Puca, Partner, BlueVal Host: Howard Mah-Lee, Senior Manager, AICPA Valuation Services

Please share your thoughts about the episode - click here to leave us a review  

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

RESOURCES FOR FURTHER EXPLORATION If you’re using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links. 

Accounting and Valuation guides from AICPA  If you are an AICPA-FVS Section member see below for free access to these guides

• Valuation of Privately Held Companies Equity Securities Issued as Compensation
• Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies

Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content

• Valuation of Privately Held Companies Equity Securities Issued as Compensation
• Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies

 The FVS Valuation Podcast archives 

• Valuing Complex Financial Instruments
• 409A Valuations - What You Need To Know
• Valuation Considerations in Equity Compensation
• Financial Instrument Valuation Series: SAFEs, Convertible Notes, and Embedded Derivatives

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:

Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic

Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic

Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]

Catherine and Nathan, both seasoned CPAs and ABVs, discuss the complexities of subsequent events in business valuation. They explain the definition, implications, and relevance of these events in contexts like estate and gift tax transactions. Their conversation covers how these events can affect or indicate value, the standards and court rulings involved, and the challenges of determining what is known or knowable at the valuation date.

Key Takeaways:

• Definition of subsequent events are particularly relevant in litigation, estate, and gift tax transactions
• Known or knowable at the valuation date, but courts may sometimes consider subsequent events differently
• Importance of providing additional information to courts without muddying the valuation process

Guests: Catherine Stoddard, CPA/ABV, Stoddard Consulting PA Nathan Duke, CPA/ABV, Senior Manager, Forvis Mazars US Host: David Consigli, Jr. CPA/ABV, CDFA, Partner, FAZ Forensics

Please share your thoughts about the episode - click here to leave us a review  

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

RESOURCES FOR FURTHER EXPLORATION If you’re using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links. 

Disaster relief resource center

Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content

• AICPA VS Section 100 subsequent event toolkit
• VS Section 100 (SSVS) Development Compliance Checklists
• VS Section 100 (SSVS) Reporting Compliance Checklists
• Considerations when valuing distressed or impaired businesses FAQs

The FVS Valuation Podcast archives 

• Turning Risk into Value - Gathering and Applying Information for Better Data Visuals
• Reconciling Discount Rates for Intangible Asset Valuation in PPAs
• Supporting Company Specific Risk and Reconciliation under ASC 805

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:

Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic

Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic

Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]

Dissenting shareholder disputes occur when minority shareholders believe their shares are undervalued in a company transaction, leading to legal dissent. There is a difference between dissenting and oppressed shareholder matters which our expert, Hubert Klein, will explain as well as the legal and valuation standards that are used.  

Klein highlights the importance of transparency and professional skepticism and thorough understanding of both sides' perspectives, such as:

• Common triggers for dissenting shareholder actions
• Preventing dissenting shareholder issues
• Reconciling valuation differences

Continue reading to learn about key resources available at AICPA-CIMA.com to improve your valuation analyses.

Guest: Hubert Klein, CPA/ABV/CFF, Partner and Practice Leader, Eisner Advisory Group LLC  Host: Alex Partin, CPA/ABV, Mueller & Partin 

Please share your thoughts about the episode - click here to leave us a review  

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

RESOURCES FOR FURTHER EXPLORATION If you’re using a podcast app that does not hyperlink to the resources, please visit our podcast platform to access the show notes with direct links. 

1. 2025 AICPA & CIMA Forensic & Valuation Services Conference  check out early bird and special discounts for AICPA and FVS Section members, and ABV, CFF and CVFI credential holders
2. Emerging Partners Toolkit – Section 6 Ownership/buy-sell agreements

Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content 

AICPA Quick Reference Guide: Standards and Premises of Value (refer to page 7) 

The FVS Valuation Podcast archives 

• Valuation Case Law Update
• Insights for Navigating Common Issues in Business Valuation
• The Forensic Accountant's Role in M&A Disputes 

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:

Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic

Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic

Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]

The discussion underscores the importance of participating in professional communities like the AICPA FVS Section for continuous learning and support.  Bethany and Tade highlight how the FVS community has significantly contributed to their professional growth by providing key resources to assist with client engagements and a supportive community of professionals.   

• Using FVS Section resources in client work
• Networking benefits – connecting with supportive SMEs
• Community involvement aiding professional development

Continue reading to learn about key resources available at AICPA-CIMA.com

Guests:   Bethany Hearn, CPA/ABV, Partner, MH CPA PLLC and Tade Akinkugbe, ABV, ASA, Senior Manager, KPMG

Host: Josh Shilts, CPA/ABV/CFF/CGMA, Director, Dean Dorton

Please share your thoughts about the episode - click here to leave us a review  

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

RESOURCES MENTIONED IN THE EPISODE - the following are all available as part of an AICPA FVS Section membership.  Click here to learn more about joining this community. In addition to exlusive resources such as the following, you also get 16 credits of complimentary CPE

If you’re using a podcast app that does not hyperlink to the resources, please visit  https://fvssection.libsyn.com/fvs to access the show notes with direct links. 

• Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies (the PE/VC guide)
• Valuation of Privately Held Companies Equity Securities Issued as Compensation (the "Cheap Stock" guide)
• PE/VC Accounting and Valuation Guide Best Practices
• Primer on private equity and venture capital valuations
• Valuation of carried interest in private equity and venture capital firms | FVS webcast archive
• A CPAs guide to family law services – FVS Practice Aid
• Valuations for financial reporting toolkit
• FVS Estate and Gift practice aid and toolkit

If you are not yet an FVS Section member, here are links to purchase 2 of our most popular guides

• Valuation of Privately Held Companies Equity Securities Issued as Compensation
• Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies

 From the FVS Valuation Podcast archives  - available to all

• Women Leaders in Business Valuation
• Using AI in Your Valuation Practice – Part 1
• Using AI in Your Valuation Practice – Part 2
• Recruiting Challenges in BV: The Perfect Storm

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:

Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic

Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic

Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]

Simple Agreement for Future Equity (SAFEs), convertible notes, and embedded derivatives are among financial instruments which feature optionality, which can obscure confidence in the expected value of the associated future economic benefits.  Published guidance is limited, and adding to the complexity, some alternative investment transactions have optionality features lurking within, dormant, and not readily apparent.  This presents a wrinkle for practitioners who try to value assets which could morph into something else tomorrow.  Listen to how specialists in this area approach these issues, and read below for key AICPA resources to improve your own valuation analyses.

Key Takeaways

• Applications and limitations of formal valuation guidance
• How optionality characteristics influence financial instrument design
• Best practices for valuing instruments with optionality features
• Approaches for early stage assets lacking underlying valuations

Guests: Oksana Westerbeke, Partner, and Jared Hannon, Director, Grant Thornton Host: Howard Mah-Lee, Senior Manager, AICPA Valuation Services

Please share your thoughts about the episode - click here to leave us a review  

Want to get involved with future FVS conferences, committees, task forces, or the standing ovation program? Send a message to [email protected]

RESOURCES FOR FURTHER EXPLORATION If you’re using a podcast app that does not hyperlink to the resources, please visit  https://fvssection.libsyn.com/fvs to access the show notes with direct links. 

2024 AICPA & CIMA Forensic & Valuation Services Conference - for purchasesession: Full conference package 

Accounting and Valuation guides from AICPA  If you are an AICPA-FVS Section member see below for free access to these guides

• Valuation of Privately Held Companies Equity Securities Issued as Compensation
• Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies

Exclusive content available with AICPA FVS Section membership: Click here to join this active community of your FVS peers. You will get 16 credits of complimentary CPE and access to rich technical content

• Valuation of Privately Held Companies Equity Securities Issued as Compensation
• Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies

From the FVS Valuation Podcast archives 

• Valuing Complex Financial Instruments
• 409a Valuations - What You Need To Know
• Valuation Considerations in Equity Compensation 

LEARN MORE ABOUT THE FOLLOWING AICPA CREDENTIALS:

Accredited in Business Valuation (ABV®) – Visit the home page and check out the ABV infographic

Certified in the Valuation of Financial Instruments (CVFI®) – Visit the home page and check out the CVFI infographic

Certified in Financial Forensics (CFF®) - Visit the home page and check out the CFF infographic

This is a podcast from AICPA & CIMA, together as the Association of International Certified Professional Accountants. To enjoy more conversations from our global community of accounting and finance professionals, explore our network of free shows here. Your feedback and comments are welcomed at [email protected]