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The Income Approach to Business Valuation in Litigation Matters

March 19, 2015
Duquene Club, Founders Room, 1st Floor
325 6th Avenue
Pittsburgh, PA  15222
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Mindy Millanti
(412) 315-2281
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  • Summary
  • Agenda
  • Presenters
Please join BDO Consulting for a complimentary breakfast seminar featuring continuing legal education. 1.5 CLE credits will be available.

This session will cover three major areas of analysis under the income approach to business valuation:
 
  • Determination of the Income Stream
  • Adjustments to Determine the Cash Flow Stream
  • Determination of the Capitalization/Discount Rate
 
We will use case examples to detail different types of income statement adjustments made in situations where an owner is controlling or non-controlling, as well as those adjustments which relate to non-recurring events.  We will also discuss the determination of appropriate adjustments to income to determine cash flow available for distribution, and the determination of appropriate rates to translate the cash flow stream into value.  Additionally, we will discuss major errors often made in these calculations and potential cross examination points for opposing experts, utilizing case examples.
 
8:00 AM to 8:30 AM - Registration and Breakfast
8:30 AM to 10:00 AM - Seminar
Heather J. Baranowski, CPA/ABV/CFF, MST, CVA,  Director, BDO Consulting
Heather Baranowski has extensive experience in business valuation and litigation support, primarily as the issues apply in family law matters. Services in the family law area include identifying and quantifying assets subject to equitable distribution, developing and implementing forensic accounting work plans for purposes of developing an opinion of value of a closely held business interest, and calculating income available for support. She has managed hundreds of such engagements in a variety of industries, from manufacturers to professional service firms. Ms. Baranowski has been qualified as an expert and provided testimony in numerous counties throughout Pennsylvania.

John Petrancosta, CPA/CFF, CVA, Senior Manager, BDO Consulting
John Petrancosta is a Senior Manager in the Pittsburgh office of BDO Consulting.  He has more than 20 years of experience in public accounting with extensive experience providing financial and forensic analysis, business valuations, litigation support, financial statement auditing, employee benefit plan auditing and administration and tax planning and preparation. 

Mr. Petrancosta is a Certified Public Accountant and has been awarded the Certified in Financial Forensics designation by the American Institute of Certified Public Accounts.  He has also been designated a Certified Valuation Analyst from the National Association of Certified Valuation Analysts.

Brandon J. Otis, CPA/CFF/ABV, CFE, CVA, Managing Director, BDO Consulting
Brandon Otis leads the dispute advisory practice for our Pittsburgh office and has spent his entire career focused on specialized and distinct business consulting matters involving damages related to breach of contract, the application of generally accepted accounting principles, and the forensic reconstruction of records. He has testified in federal and state court matters relative to both commercial litigation and matrimonial dissolution matters and is a frequent speaker on valuation, forensic accounting and financial management related topics. His clients have ranged across a wide variety of industries, including oil and gas, insurance, manufacturing and distribution, professional services, medical practices and construction contractors