Overview:Introduced in September 2006, FAS No. 157 helped to more clearly define measuring fair value in GAAP and has also expanded fair value measurement disclosures. Since then, adoption in implementation of Statement No. 157 continues to be a significant accounting issue for most publicly traded companies and their respective lenders and legal counsel.
The Knowledge Congress is assembling a panel of distinguished professionals and key regulators to help understand Statement No. 157 and its impact on your firm and the broader market. The speakers will present their expert opinions in a two-hour LIVE Webinar.
<strong id="ep-name-of-speaker">Kenneth Lamar, Senior Vice President, Statistic Function,</strong>
<em id="ep-speaker-firm">Federal Reserve Bank of New York </em>
- Issues in fair value measurement
» CAQ White Paper
- Fair Value Option
» Regulatory Capital Impact
- Upcoming Regulatory Reporting as a Result of Fair Value Measurement
<strong id="ep-name-of-speaker">Sergey Volkov, CPA, CFA, Director, Structured Finance Group</strong>
<em id="ep-speaker-firm">PricewaterhouseCoopers LLP</em>
- Recent Developments
- Key Challenges
» Valuation Challenges
» Evaluation and Independent Price Verification Process
» Considering counterparty credit risk and nonperformance risk
- FAS 157 v. IFRS
<strong id="ep-name-of-speaker">Tim Croushore, CFA, Managing Director</strong>
<em id="ep-speaker-firm">WTAS, LLC - Valuation Services </em>
<li>** Speaker Talking Points to be added soon.. **</li>
<strong id="ep-name-of-speaker">Warren D. Miller, CFA, ASA, CMA, CPA, Co-Founder</strong>
<em id="ep-speaker-firm">Beckmill Research, LLC </em>
<li>** Speaker Talking Points to be added soon.. **</li>
Who Should Attend:
- Business Officers
- Financial Directors/Analysts
- Valuation Analysts
- Investment Bankers
Kenneth P. Lamar is the senior vice president in charge of the statistics function of the Research and Statistics Group at the Federal Reserve Bank of New York. He has been a vice president since January 2003 and assistant vice president since December 1995, both in the same area.
Mr. Lamar joined the Bank in February 1980 and held various positions in the domestic reports division. In March 1993, he was named an officer of the Bank and assigned to the domestic and regulatory reports department.
Kenneth P. Lamar is the senior vice president in charge of the statistics function of the Research and Statistics Group …
Sergey Volkov is a director in the PricewaterhouseCoopers’ Structured Finance: Capital Markets Accounting Advisory Services practice. This practice advises companies on current accounting issues, developments, and the application of accounting standards. Sergey provides accounting advice on structured transactions, derivatives, transfers of financial assets, securitizations, financings and other issues. He also supports banking and other financial services clients with technical accounting support with implementing new accounting standards. Sergey has a strong background in financial services products and structures. His clients include investment and retail banks, private equity firms and insurance companies.
Since November 2006, Sergey has focused on supporting numerous audit and non-audit clients with Fair Value accounting (FAS 157 and FAS 159) implementation projects. The projects included investment banks early adopting the standards, retail and mortgage banking institutions, insurance companies and asset management companies. Sergey has also worked closely with a number of pricing services, supporting the client Fair Value accounting documentation efforts.
Sergey is a Chartered Financial Analyst (CFA) charterholder. He maintains active CPA licenses in Washington DC and Virginia. Sergey is an active member of AICPA, CFA Institute, and Washington DC Society of Investment Analysts. Sergey also sits on CFA Institute Centre Corporate Policy Disclosure Council.
Sergey Volkov is a director in the PricewaterhouseCoopers’ Structured Finance: Capital Markets Accounting Advisory Services practice. This practice advises companies …
Tim is a Managing Director in the Los Angeles office of WTAS, LLC with over 23 years of valuation consulting experience. Prior to joining WTAS, Tim was a Managing Director with Mesirow Financial Consulting and Navigant Consulting Group. Prior to that, Tim was a valuation partner with a Big Four firm. Prior national valuation leadership responsibilities include the Alternative Investment Industry as well as Sports, Media & Entertainment and Consumer Business sectors. He is a CFA charterholder.
Tim has provided valuation consulting to private equity and hedge fund clients at the fund and portfolio company level in support of dispute resolution, financial and tax reporting, lending and investment decisions. For Private Equity, Hedge Fund and Specialty Lender clients, Tim provides periodic mark-to-market opinions for fair value accounting of illiquid equity, debt, derivative and hybrid investments, fund and portfolio level valuation and diligence services as well as allocation of purchase price for post-acquisition financial integration of portfolio companies. Over the last 10 years Tim has provided valuation support for debt and equity holdings totaling in excess of $50 billion.
Tim is a recognized industry expert in the areas of fund, portfolio company and collateral valuation, having spoken extensively at industry conferences. In addition, Mr. Croushore has been asked to present his methodologies and background relating to large portfolio valuation to rating agencies, investor groups, Wall-Street financial institutions and private equity and hedge funds all over the country. He has published articles, spoken extensively and testified as an expert witness on valuation related issues.
Education and Certifications: Bachelor of Business Administration, Economics, California State University at Fullerton; Master of Business Administration, Finance, Claremont Graduate School; Holder of Chartered Financial Analyst designation.
Tim is a Managing Director in the Los Angeles office of WTAS, LLC with over 23 years of valuation consulting …
Dorothy Beckert and Warren Miller co-founded BECKMILL RESEARCH, LLC, in Tulsa in 1991. They originated the SPARC Framework and the Value Map℠, a proprietary tool that guides the use of firm-specific capabilities to extend durability of competitive advantage, enhance its inimitability, and increase enterprise value. Based near Lexington, Va., they limit their work to value maps, M&A, litigation support (e.g., divorce, damages, dissenting shareholder), valuation (financial reporting; tax; private equity; IP; litigation support; value-based management; business planning), strategy (strengthening capabilities; diversification; executive assessment/recruitment), exit planning, and statistics-driven research (e.g., customer-loyalty surveys; stand-alone public-comps analysis; employee satisfaction surveys).
Designations / Service to the Profession / Education:
- Chartered Financial Analyst
- Accredited Senior Appraiser – Business Valuation (www.bvappraisers.org)
- Named one of Virginia’s “Super CPAs” (in business valuation/litigation support) by Virginia Busi-ness
(2004, 2006, 2007)
- Member – Financial Reporting Committee, INSTITUTE OF MANAGEMENT ACCOUNTANTS
- Member – APPRAISAL ISSUES TASK FORCE (www.aitf.info)
- Honorably discharged veteran, U.S. MARINE CORPS
- Ph.D. student – Strategic Management – 1983-87 – OKLAHOMA STATE UNIVERSITY
- MBA, CPA, CMA (Certified Management Accountant)
Dorothy Beckert and Warren Miller co-founded BECKMILL RESEARCH, LLC, in Tulsa in 1991. They originated the SPARC Framework and the …
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