March Meeting: Forensic Investigations

Note: This meeting was originally scheduled for last month and postponed due to the weather.

The March chapter meeting will be held on Thursday, March 25, 2010 at 6:00 pm at Pal's Cabin in West Orange, NJ. The Executive Meeting is scheduled for 6:00 pm followed by Dinner at 6:30. The guest speaker is J.W. “Ted” Ibex, CPA, ABV/CFF, a Partner in the Tinton Falls office of Marcum LLP, who will talk about Forensic Investigations.

Mr. Ibex, who got earned his B.A. and M.B.A. in Accounting at Pennsylvania State University, has more than 35 years  experience in financial and business operations. As a member of Marcum LLP's Public Trust group, he has provided forensic and advisory services to government and quasi-government agencies.  As head of Marcum's Commercial Litigation Support Department, he provides business valuation, damage quantification, forensic investigations, accounting, advisory and consulting services in matrimonial, corporate, business and government matters.  Mr. Ibex has also served on his local Board of Education for over 25 years, served on his town Council, and been appointed to Oceanport New Jersey's Planning Board by its Mayor.

The program qualifies for one hour of ASA Continuing Education Credit. Dinner is $30 person. Please RSVP Chapter Secretary Lynn Magnusson, AM by phone (973-425-1550), fax (973-425-1553) or email, and mail her your check payable to "ASA Northern New Jersey Chapter 73" by Monday, March 22.

Save the Date: Current Topics in Business Valuation Seminar

The American Society of Appraisers, New York City Chapter 30 will host the Eighteenth Annual Current Topics in Business Valuation – 2010 Seminar on Friday, May 7, 2010 at the midtown Manhattan offices of PricewaterhouseCoopers at 300 Madison Avenue, 24th Floor, New York, New York 10017. Scott Nammacher, ASA and Bill Johnston, ASA will co-chair the seminar again this year.

Registration is $275 per person if paid by April 30, and $325 thereafter or at the door. No refunds after May 1. Registrants will receive a binder of speaker outlines and educational materials. Click the Pay Now button at right to pay with your Visa, MasterCard, American Express, Discover or Bank account through PayPal. (No PayPal account required!) Or pay by check payable to "NYC Chapter of ASA,".

RSVP: Ms. Annie Bell, Empire Valuation Consultants, Inc., 350 5th Ave Ste 5513, New York, NY 10118. Telephone (212-714-0122); Fax (212-714-0124).

The seminar, which is expected to qualify for 8 hours ASA and CPE credit, will cover the how-to aspects of unusual engagements and advanced aspects of evolving areas within the field. It will be ideal for business appraisers and others at all levels.

Complete seminar details will be available soon. Please check back here or subscribe to this page for updates.

Business Valuation Seminar: April 2010

The Philadelphia Chapter of the American Society of Appraisers (ASA) will hold its annual Business Valuation Seminar at the Doubletree Guest Suites Hotel in Plymouth Meeting, PA on Friday, April 30, 2010. The program includes how-to sessions conducted by leading thinkers on such topics as IRC 409A and SFAS 123R, intellectual property valuation, reasonable compensation, and lack of marketability discounting.

Mark L. Zyla, ASA, a Managing Director of the Atlanta Georgia firm of Acuitas, Inc. will present A Case Study in 409a and 123R Valuations from 8:30-10:30 am. Mr. Zyla is the author of Fair Value Measurements: Practical Guidance and Implementation (Wiley, 2009) and co-author of AICPA courses Fair Value Accounting: A Critical New Skill for All CPAs and Accounting for Goodwill and Intangible Assets. His presentation will explore current valuation methods, option pricing models and probability return models, discounting for lack of control and lack of marketability, and compare IRS 409A vs. auditor's SFAS 123R expectations.

P.J. Pankaj Patel, ASA, a Senior Vice President, and Edward P. Hamilton, a Vice President, at the Princeton, NJ Valuation Research Corp. will discuss Valuing Intellectual Property And Other Intangible Assets For Financial Reporting Purposes In A Business Combination from 10:15-11:30 am. Mr. Patel who took his B.S. at the University of Toronto and M.B.A. at Canisius College specializes in the valuation of intangible assets including in-process R & D, software, trademarks, patents and copyrights. Mr. Hamilton, whose baccalaureate is from Rowan University in physics, holds an M.B.A. from Temple University. He focuses on the valuation of intellectual property and intangible assets such as trademarks, technology, software, customer relationships and in-process R&D. Using valuation case studies in consumer products, software, technology, and defense companies, Messrs. Patel and Hamilton will discuss valuing brands, customer relationships and technology, including use of the relief from royalty and excess earnings methods and the 25%/33% rule in valuing intellectual property.

Jim Bowers, a Vice President, and Jeff Bacher, a Senior Consultant, at the Philadelphia office of the Hay Group, will present a program on Reasonable Compensation from 11:30 am to 12:15 pm. Mr. Bowers, who took his B.S. at Pennsylvania State University and holds a M.I.L.R. from Cornell, specializes in executive compensation, global job evaluation and general rewards, with a focus on the chemical, pharmaceutical, and energy industries. Mr. Bacher is a Senior Executive Compensation Consultant for Hay and has over twenty years consulting and executive experience. Their presentation will focus on the nuts and bolts of reasonable compensation, including tools to determine reasonableness, and factors that would undermine the presumption of reasonableness.

John J. Barton, ASA, President of Brandywine Valuation Consultants, LLC in Lyndell, PA will discuss Techniques for Estimating the Discount for Lack of Marketability from 1:15-4:40 pm. Mr. Barton holds a B.A. from LaSalle University, an M.A. in literature from Fordham University and an M.B.A. from LaSalle in Finance and Accounting. A specialist in the analysis of closely-held stock, preferred stock, intangible assets, and debt securities, he has taught business valuation courses for ASA, the Big Four accounting firms, the IRS, and at Villanova University. Mr. Barton's discussion of the discount for lack of marketability will use a case study approach focused on these analytical processes:

• FMV Opinions Restricted Stock Study
• Valuation Advisors IPO Study
• Quantitative Marketability Discount Model
• Option Models

 

Program Schedule
Registration, Buffet Breakfast	8:00 am-8:30 am
Morning Session*	8:30 am-12:15 pm
Lunch	12:15 pm-1:15 pm
Afternoon Session*	1:15 pm-4:40 pm

*Morning and Afternoon Sessions include Refreshment Break

 

Seminar Fees. Seminar fees include breakfast, snacks and lunch.

Early Registration	Register by March 31
ASA Members	$225
All others	$245
Regular Registration	Register after March 31
ASA Members	$250
All others	$270

 

Additional Information. The program qualifies for eight hours of Continuing Education Credit (CEC) for ASA members and for members of other professional organizations which recognize NASBA credit. A seminar brochure, including additional information, biographies of the presenters, a registration form, refund and cancellation policies is available in PDF format [262 KB]. For all other questions, including CEC eligibility for your organization, please contact the seminar organizer, Bob Haas at rhaasjr@rmha.com or (215) 887-6500, or Joanne Paciello at asaphiladelphia@verizon.net.

February Meeting: Forensic Investigations

This meeting has be CANCELED due to inclement weather and will be rescheduled.

The February chapter meeting will be held on Thursday, February 25, 2010 at 6:00 pm at Pal's Cabin in West Orange, NJ. The Executive Meeting is scheduled for 6:00 pm followed by Dinner at 6:30. The guest speaker is J.W. “Ted” Ibex, CPA, ABV/CFF, a Partner in the Tinton Falls office of Marcum LLP, who will talk about Forensic Investigations.

Mr. Ibex, who got earned his B.A. and M.B.A. in Accounting at Pennsylvania State University, has more than 35 years  experience in financial and business operations. As a member of Marcum LLP's Public Trust group, he has provided forensic and advisory services to government and quasi-government agencies.  As head of Marcum's Commercial Litigation Support Department, he provides business valuation, damage quantification, forensic investigations, accounting, advisory and consulting services in matrimonial, corporate, business and government matters.  Mr. Ibex has also served on his local Board of Education for over 25 years, served on his town Council, and been appointed to Oceanport New Jersey's Planning Board by its Mayor.

The program qualifies for one hour of ASA Continuing Education Credit. Dinner is $30 person. Please RSVP Chapter Secretary Lynn Magnusson, AM by phone (973-425-1550), fax (973-425-1553) or email, and mail her your check payable to "ASA Northern New Jersey Chapter 73" by Monday, February 22.

January Meeting: ASA Town Hall

The January chapter meeting will be held on Monday, January 25, 2010 at 6:30 pm at Pal's Cabin in West Orange, NJ. The Board Meeting is scheduled for 6:00 pm followed by Networking at 6:30, and Dinner at 7:00. The guest is Region 1 Governor Timothy A. Griffith, ASA who will host an ASA Town Hall meeting.

 As part of a listening tour in preparation for the upcoming National Governors Conference, Mr. Griffith urges members to come to the Town Hall Meeting and be heard.  He is looking for comments, suggestions, and opinions on ASA in particular, and the appraisal profession in general.  This is an opportunity for appraisers in all disciplines to speak out on topics of their choosing.

Tim Griffith is the President of Griffith Appraisals in Secaucus, NJ and is a licensed real estate appraiser in New Jersey, New York and Pennsylvania. A past President of the ASA Northern New Jersey Chapter, he has also served on the Board of Directors of the Appraisal Institute's Northeast New Jersey Chapter. A co-author of The Real Estate Appraisal Exam, he is one of a small number of appraisers in the area accredited by the Appraisal Foundation as an AQB Certified USPAP Instructor.

The program qualifies for one hour of ASA Continuing Education Credit. Dinner is $30 person. Please RSVP Chapter Secretary Lynn Magnusson, AM by phone (973-425-1550), fax (973-425-1553) or email, and mail her your check payable to "ASA Northern New Jersey Chapter 73" by Friday, January 22.

ASA Philadelphia January Meeting: The State of ASA

The Philadelphia Chapter of the American Society of Appraisers will host a Breakfast Meeting on Wednesday, January 20, 2010 at the Doubletree Guest Suites in Plymouth Meeting, PA at at 8:00 am. The guest speaker will be ASA Region 1 Governor, Timothy A. Griffith, ASA, who will explore The State of ASA in what he characterizes as “listening visit” – an opportunity to answer questions and gather information.

Timothy A. Griffith is a commercial real estate appraiser, preparing real property appraisals for major lending instructions, non-profit organizations, corporations, attorneys, private individuals, and estates. He holds a State Certified General Real Estate Appraisal License in the states of New Jersey, New York, and the Commonwealth of Pennsylvania. He holds a Masters of Science in Real Estate Valuation Analysis from New York University and has taken professional development courses offered by the Appraisal Institute, the International Association of Assessing Officers, and the American Society of Appraisers.

Governor Griffith’s visit is sure to be interesting, and qualifies for one hour of ASA Continuing Education Credit. The Breakfast is FREE for ASA Philadelphia members and $25 for guests. Family members, colleagues, and associates are welcome! Make checks payable to ASA Philadelphia Chapter 35. Please RSVP by January 16 to Executive Secretary Joanne Paciello by mail to 8 Terrace Rd, Plymouth Meeting, PA 19462, email, phone (610-277-1366) or fax (610-277-1366).

Spring 2009: 15-hr USPAP 2010-2011 Course

The Philadelphia Chapter of the American Society of Appraisers will sponsor a 15-hour, 2-day, all-discipline USPAP 2010-2011 Course on Thursday, April 15, 2010 and Friday, April 16 from 9:30 am to 5:00 pm each day.  The course will be held at the Marriott SpringHill Suites, 430 Plymouth Rd, Plymouth Meeting, PA 19462 (Phone: 610-940-0400), which offers discounted rates for ASA members and those taking the USPAP class. (Map)

This 15-Hour USPAP Course presents an overview of the USPAP 2010-2011 regulations and guidelines, and fulfills the requirements of appraisal societies for designation, and for USPAP continuing education.

The cost of the 2-day course is $275 per person and includes a Continental breakfast and afternoon snack each day, and a copy of the 2010-2011 USPAP Book, a $55 value.

Seating is limited to 30 participants, so please register early for the course, which meets the USPAP Requirements for re-accreditation and continuing education for most ASA appraisers.

Make checks payable to ASA Philadelphia Chapter 35 and mail to Executive Secretary Joanne Paciello, 8 Terrace Rd, Plymouth Meeting, PA 19462.  RSVP by email, phone (610-277-1366) or fax (610-277-1366).

November Event: An Evening at the Races

Enjoy an Evening at the Races with the ASA New Jersey Chapter on Friday, November 13, 2009 starting at 6:15 pm. Join us at the Pegasus East Dinner Buffet at The Meadowlands Racetrack, 50 New Jersey 120, East Rutherford, NJ 07072.

An Evening at the Races will cost $45 per person, including Admission Ticket, Program, and a Full Buffet Dinner.  Not included: drinks or special coffees.  Post time is 7:00 pm.  Please get to the ticket counter by 6:15 pm, and tell them “Atlantic 8.” Dress is business casual; jackets for men, please.

Please RSVP to Lynn Magnusson no later than November 4 by phone (973-425-1550) or email.

October Event: West Point Tour

The ASA Northern New Jersey Chapter together with the ASA Hudson Valley Chapter will host a joint meeting and tour at the West Point Military Academy, starting at the Academy Library, 758 Cullum Rd, West Point, NY (view map) on Wednesday, October 14, 2009 at 3:30 pm.

Alan Conrad Aimone, ASA, the West Point Librarian, will conduct a tour of the historic buildings and statues on the Academy’s campus, culminating in dinner at the Thayer Hotel, the luxury landmark overlooking the Hudson River.  The guest speaker will be Brian Christopher Cummings, AAA, an independent appraiser and historian of artistic properties of popular culture and celebrities, including Marilyn Monroe, Katherine Hepburn, and Marlon Brando.

This is the must-go field trip of the 2009 Fall season!  Fall foliage is not guaranteed, but the program qualifies for one hour of ASA Continuing Education Credit. Please RSVP to Barbara J. Sussman, AM by phone (518-686-4809), cell phone (518-894-7845) or email. Make your check payable to ASA Hudson Valley Chapter #74 for $55 per person. Reserve early. Space is limited.

September Meeting: Installation Dinner

 

The September chapter meeting will be held on Thursday, September 24, 2009 at 6:00 pm at The Manor, 111 Prospect Ave, West Orange, NJ 07052 (Telephone: 973-731-2360). View map.  Join us for the installation of the incoming 2009-2010 Chapter Officers -- President Kyle Garcia, Vice-President Scott Vandervliet, Treasurer Monica Kaden and Secretary Lynn Magnusson. Enjoy an evening with friends and a great Manor Buffet Reception, including open bar, seafood bar, hot and cold buffets, two carving stations, and desserts. Dinner is $60 per person.

Please RSVP Chapter Secretary Lynn Magnusson, AM by phone (973-425-1550), fax (973-425-1553) or email no later than September 15, and mail your check payable to "ASA Northern New Jersey Chapter 73" to Lynn Magnusson, ASA, PPC, Inc., 920 Mt. Kemble Ave. Morristown, NJ  07960.

P.S. The chapter is subsidizing both members and guests for this special dinner. So bring your favorite clients, business associates, family members and friends.

ASA 2009 International Conference

Get the 2009 ASA International Conference brochure.

Update: Current Topics in Business Valuations Seminar

The American Society of Appraisers, New York City Chapter 30 will host the Seventeenth Annual Current Topics in Business Valuations – 2009 Seminar on Friday, May 8, 2009 at the Hilton Hotel in New York at 1335 Avenue of the Americas, New York, NY 10019 (Phone: 212-586-7000). Scott Nammacher, ASA and Bill Johnston, ASA will again co-chair the seminar this year.

Register before April 17 and pay only $350 per person. Regular registration thereafter or at the door is $400. No refunds after May 1. Registrants will receive a binder of speaker outlines and educational materials. Click the Pay Now button at right to pay with your Visa, MasterCard, American Express, Discover or Bank account through PayPal. (No PayPal account required!) Or pay by check payable to "NYC Chapter of ASA,".

RSVP: Ms. Annie Bell, Empire Valuation Consultants, Inc., 350 5th Ave Ste 5513, New York, NY 10118. Telephone (212-714-0122); Fax (212-714-0124).

The seminar, which is expected to qualify for 8 hours ASA and CPE credit, will cover the how-to aspects of unusual engagements and advanced aspects of evolving areas within the field. It will be ideal for business appraisers and others at all levels. The impressive line-up of speakers, panelists and topics promises a lively and informative day.

• Bank Valuations in Today's Environment
  Andrew K. Gibbs, CFA, CPA/ABV
• Horizon Values: Does, Don'ts and Methods to Keep Your Analysis Consistent
  Jeffrey Dunn
• Financial Reporting Update: Q & A on Current Issues
  Stamos Nicholas
• Valuing Debt Instruments: Intrinsic and Relative Valuation Methods
  John D. Moore, VP & Timothy J. Doherty, CFA, VP
• Underwater Option Re-pricing or Exchange Valuation Techniques and Issues
  Cindy Ma, Ph.D, CPA, CFA

Complete seminar details will be available within the week. Please check back here or subscribe to this page for updates.

Fall 2009: Personal Property Seminars

The American Society of Appraisers in cooperation with the Rhode Island School of Design in Providence, RI will offer two daylong seminars in the school's continuing education Appraisal Studies in Art + Antiques certificate program. Shirley Sue Swaab, ASA of ASA's Philadelphia Chapter will be the instructor for both seminars.

• Thursday, September 10, 2009: Ivory and Its Look-A-Likes
• Friday, September 11, 2009: Identifying Ceramics: Hard Paste Porcelain, Soft Paste Porcelain, Creamware, Pearlware, Stoneware and Faience

Ms. Swaab, who is celebrated for teaching by using examples, will employ over 100 pieces of ivory and ceramics during the two daylong seminars. For more information, call 215-635-2260.

March: Real Property Seminar

The Northern New Jersey Chapter of the American Society of Appraisers and the New Jersey North Chapter of the National Association of Independent Fee Appraisers will jointly sponsor a two-hour Real Property Seminar on The Home Valuation Code of Conduct and Fannie Mae Form 1004 MC. The seminar will be held on Monday, March 23, 2009 from 4:00-6:00 pm at the Wilshire Grand Hotel, 350 Pleasant Valley Way, West Orange, NJ 07052. Robert J. Luciani, ASA, IFA, a real property appraiser practicing in Philadelphia, will conduct the seminar, which will be followed by a Chapter Dinner Meeting.

The housing bubble and subsequent melt-down has led to two new requirements for appraisals submitted to the federal mortgage agencies.

• The new Home Valuation Code of Conduct (HVCC), effective May 1, 2009, applies whenever the primary lender plans to sell the loan to Fannie Mae or Freddie Mac. It's designed to prevent conflicts of interest.
• Beginning April 1, 2009, appraisal reports submitted to Fannie Mae will require Form 1004 MC, a Market Conditions Addendum. Its purpose is to illuminate neighborhood market trends and conditions.

Mr. Luciani will explore the HVCC and 1004 MC requirements and relate them to current USPAP obligations for appraisers.

The program qualifies for two hours of ASA Continuing Education Credit. Dinner is $35 person. Please RSVP Chapter Secretary Lynn Magnusson, AM by phone (973-425-1550), fax (973-425-1553) or email, and mail her your check payable to "ASA Northern New Jersey Chapter 73" by Monday, March 16.

NYC: Current Topics in Business Valuation

The seventeenth annual Current Topics in Business Valuations seminar, presented by the New York City Chapter, qualifies for 8 hours ASA and CPE credit, and covers the how-to aspects of unusual engagements and advanced aspects of evolving areas within the field. It's ideal for business appraisers and others at all levels. The impressive line-up of speakers, panelists and topics promises a lively and informative day. For more information and to register online visit the ASA NYC Calendar.