2025 ASA Spring Fair Value Conference

ASA Member Price: $219 | Non-Member Price $319

Join top professionals at this year's conference for a day of engaging discussions and valuable insights into valuation practices. The event begins with a warm welcome, followed by the Big Four Panel, where senior valuation leaders from top firms share trends and challenges in fair value reporting. Additional morning sessions will explore intangible asset discount rates and their implications.

After lunch, delve into current ASC 820 portfolio valuation issues, strategies for enterprise value estimations, and insights into real estate-related intangibles. The final session focuses on refining volatility estimates, a key element in valuation work.

The day wraps up with a Networking Cocktail Reception, offering opportunities to connect, share insights, and build lasting professional relationships.

“This is the best conference every year."
-Andrew Lowe, Head of the Valuation, Litigation & Business Transition Services Group, LLMB

NASBA and Continuing Professional Education (CPE) Credit

ASA is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.learningmarket.org/.

CPE Credit: Up to eight (8) CPE credits
Program Level: Advanced
NASBA Knowledge Type: Accounting & Auditing, Specialized Knowledge
Delivery Method: Group Live and Group Internet-Based
Prerequisites: None
Advanced Preparation: None
Policies: ASA's Refund and Cancellation Policy and ASA's Complaint Resolution Policy

Conference Chair

William Johnston, ASA | Empire Valuation Consultants

Conference Sponsors

8:30am - 9:00am
Registration / Check-In / Breakfast

9:00am - 9:10am
Welcome/Introductions
William Johnston, ASA | CEO & Senior Managing Director | Empire Valuation Consultants

9:10am 10:40am
Big Four Panel - Insights from Senior Valuation Leaders
Myron Marcinkowski| Managing Director/North American Leader of Valuation Services | Kroll LLC
Adam Smith, ASA | Managing Director | Pricewaterhouse Coopers
Manish Choudhary, ASA, CFA | Partner | Deloitte
Martin Mazin| Partner, Valuation & Business Modeling Services | KPMG
Mike Moskowitz, CFA | Managing Director | EY

Gain insights from senior valuation leaders at the Big 4 accounting firms as they discuss key issues and emerging trends in fair value reporting. Always a can't-miss session!

10:40am - 10:55am
BREAK

10:55am - 11:55am
Intangible Asset Discount Rate Working Group Update
Charles Sapnas, CFA, ASA | Managing Director | Valuation Research Corporation
Elaine Young, ABV, ASA | Director, Valuation Services | Kroll LLC

Join the leaders of the Intangible Asset Discount Rate Working Group (The Appraisal Foundation) as they discuss key concepts they've developed and their potential impact on your practice.

11:55am - 12:55pm
LUNCH

12:55 - 2:05pm
Panel - Current Issues with ASC 820 Portfolio Valuations
Mark Shayne, ASA, CPA, ABV, CGMA | Senior Managing Director & Practice Leader, Portfolio Valuation Services | Empire Valuation Consultants
Craig Ter Boss| Partner | Eisner Advisory Group LLC
David Fitzgerald | Partner | Sadis & Goldberg LLP
Nicholas Nunez | Managing Director & Chief Administrative Officer | Silver Regulatory Associates, LLC

Gain valuable insights from this dynamic discussion on the latest issues and challenges in portfolio valuations.

2:05pm - 3:05pm
EV or not EV, that is the question. Enterprise Value Estimation
Sean Woodward | Senior Vice President | Valuation Research Corporation

We frequently calculate an enterprise's value, whether it is for guideline public companies or a subject company. Beyond the valuation basics one must consider how to account for items such as cash, preferred stock, leases, debt, fully diluted shares outstanding etc. Gain valuable insights to apply to your enterprise value estimations.

3:05pm - 3:15pm
BREAK

3:15pm - 4:00pm
Leases and Beyond - Valuing Real Estate Related Intangibles
Roslyn Lo, MAI | Director | Empire Valuation Consultants

Gain valuable insights on how to look at leases and other real estate related intangibles from an experienced real estate valuation professional

4:00pm - 5:00pm
Volatility Estimates - More than Meets the Eye
James Herr, CFA, CPA, ABV, CFF, ASA | Senior Director | Alvarez & Marsal Valuation Services

Volatility estimates play a crucial role in valuation work. Enhance your understanding of volatility concepts and discover strategies to refine your estimates.

5:00pm - 6:00pm
Networking Cocktail Reception

Agenda subject to change.

Upon completion of this course, participants will be able to:

• Gain insights into the latest fair value trends and regulatory updates from leading accounting firms.
• Learn practical approaches for assessing fair value in alternative investments.
• Understand the key factors influencing discount rate determination for intangible assets.
• Identify and analyze the key intangible assets associated with real estate investments.
• Evaluate different approaches for measuring and applying volatility in financial analysis.

Conference Location

(For In-Person Registrants)

EisnerAmper
733 Third Avenue, New York, NY 10017

*Note: ID is required to enter the building.

Group Discounts
A 10% discount off the current, applicable registration fee is available for five or more individuals registering from the same organization. Individuals must be registered as a group to qualify for the discount. For additional details and instructions on how to register, please contact ASA Member Services at +1 800-272-8258 or +1 703-478-2228 or via e-mail at asainfo@appraisers.org.