Continuing Professional Education on Business Valuation & Litigation
Tuesday, September 29, 2026, 1:00–3:00 PM ET
Methods to Value a Minority Interest in a Private Business:
The Best, the Better, and the Bad – You Ain’t Seen Nothing Yet!
Speakers: James R. Hitchner, CPA/ABV/CFF and Harold G. Martin, Jr., CPA/ABV/CFF, ASA, CFE
Webinar Description
Excuse my English. Bachman Turner Overdrive or BTO, released that song in 1974. Harold and I were still in college then. It is apropos here. This webinar will cover nearly everything you want to know about valuing a minority interest in a private business. And yes, You Ain’t Seen Nothing Yet!
Learning Objectives
During this webinar, participants will learn to:
- Identify the different levels of value and the circumstances in which control premiums and minority interest discounts may apply.
- Explain how the ownership and distribution of equity interests can affect the valuation of controlling and minority interests.
- Compare direct and indirect methods for determining minority interest value, including cash flow normalization and the use of acquisition premium studies.
- Evaluate normalization adjustments to determine whether they are appropriate for control or minority cash flows, including adjustments for excess compensation.
- Recognize the level of value indicated by the discounted cash flow, capitalized cash flow, guideline public company, guideline company transactions, and net asset methods.
- Assess whether changes to management practices or operations can reasonably be assumed when valuing an ownership interest, particularly when considering differences between small and larger businesses.
- Explain the concept of “as if freely traded minority interest value” and its role in the valuation of minority interests.
- Identify how agency costs may be considered in determining valuation discounts, including the concepts discussed by Mercer and Harms in Business Valuation – An Integrated Theory, 3rd ed.
Handouts:
- VPS Webinar slides
- Various related articles
- Following the webinar, attendees will have access to a video recording of the program
Wednesday, October 14, 2026, 1:00–3:00 PM ET
The Lost Art of the Management Interview
Speakers: Tiffany Mellow, CPA/ABV and Josh Shilts, CPA/ABV/CFF, CGMA, ASA, CFE
Webinar Description
This session will focus on how to properly conduct a management interview and site visit for a business valuation engagement. Participants will begin with a brief refresher on the purpose and basic questions for a management interview. The presentation will then address the soft skills needed to conduct a successful interview and discuss why they are the key to what we do. The Dos and Don’ts will be demonstrated through a few short skits, including how to handle unwilling management. The presenters will also share their own stories of interviews that went well, or not so well.
Learning Objectives
After completing this webinar, participants should be able to:
- Identify the key questions and research necessary for a successful management interview and site visit.
- Recognize the key soft skills necessary for management interviews.
- Apply the techniques of building rapport, demonstrating curiosity, and active listening.
- Document the qualitative and the quantitative information obtained to support your valuation
Handouts:
- VPS Webinar slides
- Various related articles
- Following the webinar, attendees will have access to a video recording of the program
About the Presenters:
Tiffany Mellow, CPA/ABV
Tiffany is a principal at CLA (CliftonLarsonAllen LLP) in Portland, Oregon with the Valuation, Forensics, Litigation, and Investigations practice. With almost 15 years of experience, she specializes in valuation services for estate and gift planning, charitable gift tax compliance, estate tax, succession planning, mergers/acquisitions (including quality of earnings and due diligence), marital dissolution, and shareholder oppression, to name a few. She is also a go-to resource for consultation services and for litigation/testimony. She is currently serving on the AICPA Business Valuation Committee, the AICPA Scholarship Foundation Committee, is an ABV champion for the state of Oregon and is one of America’s Top CPAs in Oregon in 2026 by Forbes.
She is a second-career accountant, starting her professional life with the intention of being a marriage and family therapist, with a BS in Psychology from the University of Oregon. She received her post-baccalaureate in Accounting from Linfield University and started her CPA journey after serving as a volunteer with AARP’s Tax Aide program.
Josh Shilts CPA/ABV/CFF, CGMA, ASA, CFE is an industry-leading expert in forensic accounting and business valuation (“FVS”), a thought leader, educator, and entrepreneur who assists attorneys, individuals, and businesses with complex financial matters and disputes. A focused problem-solver, he is equal parts expert, sleuth, and engaging communicator who thrives on the challenges and demands of his career.
Josh is passionate about sharing the wisdom he has gained, as demonstrated not only through the founding of ShiltsSpeaks™ but also through his service as an Adjunct Professor in Florida Atlantic University’s School of Accounting.
Josh has held roles with public accounting firms ranging in size from the “Big Four” to smaller regional and local firms, as well as large public organizations throughout Florida and New York. This experience has afforded him a broad range of expertise managing hundreds of FVS matters involving civil, commercial, and criminal disputes, as well as cases involving the identification and quantification of fraudulent or disputed activities. Honored as the “AICPA Business Valuation Volunteer of the Year” in 2022, Josh is committed to supporting the nonprofits that serve both his profession and his community and is actively involved with at least eight organizations.
Continuing Professional Education on Business Valuation & Litigation
Jim Hitchner’s Valuation Products and Services (VPS) provides tools to assist practitioners in business valuation, litigation services, and forensics and fraud.
Valuation Products and Service, LLC 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 final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org. Online programs sponsored by VPS are administered by the Virginia Society of CPAs. For more information regarding CPE or other policies of the Virginia Society of CPAs, visit vscpa.com/CPEPolicies or call (800) 733-8272. Refund requests must be received in writing at least one week prior to the date of the webinar. CPE is offered for live broadcasts only. For more information regarding refunds, complaints, and/or cancellation policies, please contact VPS at www.valuationproducts.com/