The objective of this one-day seminar is two-fold:

1. To provide an educational tool for those seeking an introduction to the basics of business valuation; and
2. To provide fundamental information, reference materials, and direction for the basic principles of business valuation.

The seminar will be a case study of an actual business, culminating with the valuation of the business by the participants. The case will cover all components of a valuation assignment, which include the following:

• Basic business valuation overview contrasted with real estate appraisal;
• Defining the assignment;
• Economic and industry analysis;
• Reading and understanding financial statements;
• Management interview;
• The three approaches to value: income, market, and asset; and
• Reconciliation and conclusion of value.

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Robert J. Strachota, et al:"Valuation of Business Ownership Interests"

William C. Herber: "The Asset Approach"

William C. Herber, Clay J. Shultz : "The Market Approach"

Scot A. Torkelson: "The Income Approach"

Scot A. Torkelson: " Adjusting Financial Statements"

Sam G. Rouman: "Financial and Operating Ratios"

Sam G. Rouman: "Understanding the Business Financial Statement Analysis"

Clay J. Shultz: "Management Interview and Site Visit"

Clay J. Shultz, et. al.: "Evaluating Industry"

Robert J. Strachota: "What is Business Valuation?"

Robert J. Strachota, et. al.: "Arriving at a Final Business Valuation"