2023 Chattanooga Bar Association Family Law Section Annual CLE December 6, 2023
Business Valuation, Personal & Enterprise Goodwill, Understanding Income from Tax Documents & A Few Complex Forensic Accounting Issues
Education
Continuing Legal Education & Continuing Professional Education Presentations Explain Our Processes
So You Want To Testify As A Financial Expert Witness?
Testimony tips, Traps and Video Demonstrations From The Trenches
NACVA’S 2019 Annual Consultants’ Conference in Salt Lake City
The Good, The Bad and the Unusual - A Workshop on Complex Forensic Accounting Applications
Robert Vance was a Featured Speaker at The National Association of Certified Valuators and Analysts (NACVA) 2019 Annual Consultants’ Conference held in Salt Lake City, UT June 6-8, 2019. Robert’s two hour session was entitled “The Good, The Bad and the Unusual - A Workshop on Complex Forensic Accounting Applications.” The workshop explored unusual and complex forensic accounting and business valuation cases in the domestic law area and the problem resolutions employed including testimony given and issues encountered before and at trial.
Topics included an in-depth analysis of the 2019 Tennessee Appellate divorce cases, Lucchesi and Tarver, wherein Robert was the forensic expert witness and the importance of having thorough and detailed analysis and testimony at trial was solidified. Vance explained methods used at trial in Lucchesi including valuing a business at date of marriage 20 years in the past, whether or not to use a Calculation Engagement report at trial and the ramifications of a party not disclosing $950,000 of marital assets found by the forensic expert. Another important ruling of the Appellate Court in Lucchesi that Robert detailed included the allowance of using the original cost of an investment asset and/or the county property assessor’s appraisal value of real estate when the opposing party does not counter with proof. In Tarver, Vance illustrated proving ownership of real property as marital and not separate and the husband’s true income for support purposes complicated by a complicate company owner (his father).
Other areas covered included various complex issues involving valuing executive compensation packages for public company executives and proving true income for support purposes by exposing and documenting personal expenses paid by the owner’s closely-held corporation.
2018 Spring Tennessee Judicial Conference, March 7, 2018, Montgomery Bell State Park
The Essentials of Business Valuation For Tennessee Judges (Why are the Experts so Far Apart?)
Approximately 60 judges and chancellors from across the state of Tennessee were in attendance at Robert's session.
Why Are Opposing Expert Values Different?
1) Normalizing Expense Adjustments
2) Weighting of Economic Income Streams
3) Weighting of Values in the Conclusion
4) Capitalization Rates/Multipliers
5) Discounts for Lack of Control & Marketability
6) Interpretations of the Law
7) Different Approaches/Methods
8) Different Time Periods
9) Information Availability to Each Side
10) Not Considering Actual Arm’s-Length Transactions in the Subject Company Stock
11) Reliance on Bad Market Approach Multiples
2017 Southeastern Forensic & Valuation Services Conference October 25, 2017
Tennessee Cases You Need to Know in Divorce Business Valuation
Mock Deposition for Business Valuation Engagement
Presented at the National AICPA Business Valuation Conference
- Showing confidence with “I don’t know” or “I don’t understand the question”
- Avoid diarrhea of the mouth
- Dealing with exaggerations and outright misstatements
- Avoid absolute words and “lock-in” phrases
Business Valuation in a Tennessee Divorce
A Case Study Using a Professional Practice
National Business Institute Wrongful Death Damages
Strategy, Evidence and Calculations
The Replacement Value of a Life Essential Elements
- Loss of Earning Capacity that would have been earned as occupational compensation, less mitigating earnings still able to produce, if any
- Personal Consumption or Maintenance deducted (WD cases only)
- Loss of Fringe Benefits that are part of the occupational earning capacity
So You Want to Be A Forensic CPA?
Complex Cases in Divorce with Hands‐on Forensic Accounting Solutions
My Practice
- Business Valuation
- Divorce Analysis
- Forensic Economics PI, WD, Business Disputes
- Fraud Investigation
- Creative Thinking
Breakin’ Up is Hard to Do:
Dividing the Marital Estate and Figuring Alimony
The Agenda
- Practice Tips
- Your Role in Divorce
- Supporting Documentation
- Marital Balance Sheet with Related Issues & Analysis
- Need & Ability to Pay Analysis
- Case Study
- Just for Fun War Stories
Lost Profits and Economic Damages Newsletter
The Lost Profits newsletter series focuses on the concepts and methods used to calculate economic damages from Lost Profits. In this edition, we explain the general and legal concepts associated with Lost Profits damages. The issues that follow describe the customary methods used to calculate the loss of revenues and avoided costs to arrive at lost profits:
- The "Before and After" Method
- The "Yardstick" (or "Benchmark") Method, Terms of the Contract Method and Use of the Defendant's Profits Method
- Avoided Costs
- Intellectual Property Damages in NonPatent Cases
Navigating Complex Asset Cases in Divorce with Practical Forensic Accounting Solutions
Why Are You Here? To Learn......
- New forensic services and procedures to enhance your divorce practice
- Practice Tips
- The basics of a Marital Balance Sheet
- How to value complex and unusual assets
- How interesting and humorous your job can be with a few situations I have encountered