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Overview:

In August 2019, the American Institute of CPAs (AICPA) issued an Accounting and Valuation Guide for investment companies entitled, “Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies”. The guide provided non-authoritative recommendations and considerations when preparing and auditing financial statements. It also sought to explain fair value measurement in accordance with Accounting Standards Codification (ASC) 820 and 946.

As the guide addresses certain valuation challenges, significant complexities emerge specifically in determining the fair value of investments. Thus, companies are advised to efficiently monitor important changes in the landscape. They must understand the characteristics and attributes of their portfolio company investments to efficiently navigate complexities and bring efficacy.

In this LIVE Webcast, a seasoned panel of thought leaders and professionals brought together by The Knowledge Group will provide an in-depth discussion of the significant developments and issues surrounding the valuation and accounting guide. The speakers will provide best practices to help investment companies navigate their way to emerging risks and challenges.

Key topics include:

  • An overview of the financial reporting guidance provided in the recent publication , ‘Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies’, as recently published by the Private Equity and Venture Capital Taskforce of the AICPA
  • Overview of the latest  AICPA guidance will highlight best practices related to common valuation issues encountered in fair value reporting for private equity and venture capital
  • COVID-19’s impact on private equity and venture capital valuation

Credit:

Course Level:

Intermediate

 

Advance Preparation:

Print and review course materials

 

Method of Presentation:

On-demand Webcast (CLE); Group-Internet Based

 

Prerequisite:

General knowledge of investment funds

 

Course Code:

148908

 

NASBA Field of Study:

Accounting - Technical

 

NY Category of CLE Credit:

Areas of Professional Practice

 

Total Credits:

1.5 CLE

1.5 CPE (Not eligible for QAS (On-demand) CPE credits)

Speaker Panel:

Thomas Angell, CPA, Partner and Financial Service Practice Leader
Withum

Tom Angell is the practice leader of Withum’s Financial Services Group based out of the Firm’s New York office. With over 30 years of experience specializing in private equity and venture capital funds, he services a diverse client base including credit funds, hedge funds, fund of funds, investment advisors and regulated funds. Assisting emerging managers and well-established funds both onshore and offshore, Tom provides guidance on the structuring of funds and their management companies, taking into account both domestic and cross-border issues.

Widely viewed as a thought leader in the financial services industry, Tom is frequently requested to speak at industry conferences, most notably Buyouts Insider’s PartnerConnect and Emerging Manager Forum and PEI’s CFO/COO Forum. He has authored many articles, some of which are extensively on issues impacting the private equity and venture capital industries, and has been quoted in leading industry publications such as Private Funds Management (PFM) magazine and The PE Hub Network. Some of his top editorials include “Fund Forecast: Healthy for Emerging Managers,” “Compliance: President Trump’s Next Move” and “SEC’s Reporting Modernization Rules Mark a New Era.” Tom also co-authored “Fees and Expenses 2016 A PFM Benchmarking Survey” and is a co-author of a Withum’s Emerging Manager Desk Reference Manual, a leading publication on the issues associated with launching a new fund.

Tom is a certified public accountant and a member of the New York and New Jersey Societies of Certified Public Accountants, as well as the American Institute of Certified Public Accountants. A Rutgers College alum holding a Bachelor of Science degree in Business Administration, Tom also holds a Master of Business Administration degree in Information Systems from the Rutgers Graduate School of Management.

Tom serves as Treasurer to New Jersey’s Drumthwacket Foundation and has delivered the commencement address to the Rutgers Business School MBA in accounting graduates.

Michelle C. Keyes, ASA, Senior Manager, Valuation Specialist
Withum

A Senior Manager in Withum’s Valuation and Financial Services Audit Practices, with over fifteen years of experience in performing and reviewing valuations.

She has provided valuation services and performed valuation review procedures for public and privately-held equity, debt instruments, and derivatives across a variety of industries, including:  financial services, energy, retail, information technology, consumer products, telecommunications, life sciences, and professional services.

Michelle previously served as the Valuation Review Practice Leader at a national public accounting firm, specializing in the review of valuation analyses of hedge, private equity, and venture capital investment funds;  alternative investment fund experience includes investment advisers with assets under management ranging from several million dollars to over a billion dollars.

In- depth knowledge of best practice and risk management issues relating to valuations performed for financial reporting purposes. Successfully presented and defended clients’ valuation analyses in the context of informal inquiries and presence exams conducted by industry regulators.

Agenda:

Thomas Angell, CPAPartner and Financial Service Practice Leader

Withum

 

AND

Michelle C. Keyes, ASASenior Manager, Valuation Specialist

Withum

  • An overview of the financial reporting guidance provided in the recent publication , ‘Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies’,  as recently published by the Private Equity and Venture Capital Taskforce of the AICPA
  • Overview of the latest  AICPA guidance will highlight best practices related to common valuation issues encountered in fair value reporting for private equity and venture capital
  • COVID-19’s impact on private equity and venture capital valuation

Date & Time:

Tuesday, May 12, 2020

12:00 pm to 1:30 pm (ET)

Materials:

Download Course Materials

Who Should Attend:

  • Fund Managers
  • Fund Accountants
  • Private Equity Managers
  • Chief Investment Officers
  • Chief Financial Officers
  • Controllers
  • Investors
  • Financial Lawyers and Advisers

SPEAKERS

Thomas Angell, CPAPartner and Financial Service Practice Leader
Withum
Michelle C. Keyes, ASASenior Manager, Valuation Specialist
Withum

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