Calendar of Events

Whether you're new to business valuations, you've done a few of them or you have staff members who need a foundational course, this program will shine the spotlight on how to approach business valuations successfully. Clarify key valuation background concepts so you can get going in the right direction. 

Learning objectives: 

*Understand why businesses are appraised 

*Understand basic concepts and definitions related to business valuations 

*Understand business valuation standards and requirements 

*Understand how economic and industry data affect valuations 

*Understand how to use financial statement analysis in the valuation process 

*Understand various valuation methodologies and the advantages and disadvantages of each 

Major subjects: 

*Why businesses are appraised 

*Definitions of value 

*How the assignment and the definition of value are related 

*Business valuation standards (SSVS from the AICPA) 

*Valuation principles 

*Requirements for tax-related valuations 

*How economic data affects the valuation 

*How industry data affects the valuation*What databases are available 

*How to use financial statement analysis in the valuation process 

*Advantages and disadvantages of various valuation methodologies 

Designed for: Anyone who might perform a business valuation assignment or review a business valuation report 

Prerequisites: None 

Advanced Prep: None 

Level: Basic 
FOS: 8 CPE Specialized Knowledge

Instructor:  

Gary R. Trugman, CPA/ABV, ASA, MVS, is the president of Trugman Valuation Associates Inc., a business valuation and economic damages firm. He has served on numerous committees for the AICPA, ASA and the IBA. Trugman has testified throughout the country in both federal and state courts and has been a faculty member of the National Judicial College. He is a respected author and instructor in the business valuation field. 

Take the next step in learning more about conducting business valuations so you can enhance your skills and build your practice in this area. Zero in on the mechanics of different valuation approaches and methods to consider when performing a business valuation assignment. 

Learning objectives: 

*Understand various approaches and methods used for business valuations 

*Understand how to use resources and data to support business valuations 

Major subjects: 

*The market approach 

*The asset-based approach 

*The income approach 

*Using guideline companies and market data 

*Adjusted book value method 

*Liquidation value method 

*Single period income methods 

*Multiple period income methods 

*Excess earnings method 

*Definitions of cash flow 

*Why some appraisers use cash flow instead of earnings 

Designed for: Anyone who might perform a business valuation assignment or review a business valuation report 

Prerequisites: None 

Advanced Prep: None 

Level: Basic 

CPE: 8 Specialized Knowledge

Instructor:  

Gary R. Trugman, CPA/ABV, ASA, MVS, is the president of Trugman Valuation Associates Inc., a business valuation and economic damages firm. He has served on numerous committees for the AICPA, ASA and the IBA. Trugman has testified throughout the country in both federal and state courts and has been a faculty member of the National Judicial College. He is a respected author and instructor in the business valuation field. 

Join us for an in-person event like no other to network and learn with other young professional members! We will have two in-person learning locations which are listed above. Lunch will be provided and after the learning sessions we will have snacks and beverages for networking.

10:00 am - 11:50 am: Grace Lange and Kelsey Joy Buell from You Flourish will present on developing clarity on how to prevent burnout and instead flourish in your current role.

12:50 - 2:30 PM: Dot Frank from Bismarck State College will be presenting on confident communication and how to read an audience, anticipate reactions, prepare for the unexpected, and format talking points in a way that grabs attention, demonstrates respect, and leads to results.

The MNCPA’s Audits of Employee Benefit Plans Conference provides the practical, up-to-date information you need to deliver efficient and effective audits for your clients. Fill your audit toolbox and discover new ways to anticipate challenges and maintain compliance. 

Designed for: CPAs, auditors and other financial professionals who are responsible for auditing employee benefit plans 

Prerequisites: None 

Level: Update 

Sessions: 

Discuss the work being done at Employee Benefits Security Administration’s (EBSA) Office of the Chief Accountant, including the office’s audit quality study and changes to the 2021 Form 5500 to align with SAS 136. Get tips on how to help your clients comply with the Employee Retirement Income Security Act (ERISA). Examine why some audits of employee benefit plans are deemed deficient and what you can do to ensure your audits are satisfactory. 

FOS: Auditing - Technical (1.5) 

Most clients that sponsor a retirement savings plan must file Form 5500, so you must know how to leverage this form in your audit. Learn more about the 80-120 rule, a deemed loan versus a distribution loan, and how to use Schedule A, C and D to plan your audit and assist in drafting and reviewing the financials. Additionally, examine what to do if there is an inappropriate fidelity bond coverage, how to report corrections needed and much more.  

FOS: Auditing - Technical (1) 

Investments play a huge role in employee benefit plans and knowing your way around them in an audit is critical. How do you tell if you have a fully benefit responsive investment contract (FBRIC)? What is the difference between a pooled separate account (PSA), common collective trust (CCT) and mutual fund? When do you have a master trust? When do you have to do net asset value (NAV) disclosures? Fill in your expertise gaps with helpful advice and examples. 

FOS: Auditing - Technical (1.5) 

Department of Labor (DOL) audits often raise fiduciary breaches, which can result in significant penalties. Audits have also begun focusing on cybersecurity issues and ensuring that participant information is protected. Review current guidance from the DOL regarding cybersecurity, discuss how to manage fiduciary obligations and get an overview of recent DOL developments. Stay informed of recent trends from the DOL so you can better advise your clients.  

FOS: Auditing - Technical (1) 

Employee benefit plan auditors and accountants continue to face challenges in 2023. Prepare for the upcoming filing season and beyond as you explore developments with SAS 136 implementation, mergers and acquisitions, change in service providers and new accounting and auditing standards on the near horizon. Protect plan participants’ benefits with specific guidance tailored to the financial reporting and audits of employee benefit plans. 

FOS: Auditing - Technical (1) 

Take advantage of this interactive session and get answers to your most pressing questions. Get practical help with SOC 1 reports and qualified opinions, what kind of work is required when a plan changes service providers, how much to rely on specialists in an audit and so much more. 

FOS: Auditing - Technical (2) 

Speakers: 

Brassil, Eileen 

Legacy Professionals LLP, Westchester, IL 

Eileen Brassil, CPA, CFE, is a partner in the audit department at Legacy Professionals LLP and serves on the firm’s management committee. She specializes in employee benefit plans, supervises and trains staff and performs quality control reviews for the firm’s three offices. Eileen recently completed her service on the AICPA Employee Benefit Plans Expert Panel. Prior to serving on the panel, she served on the executive committee of the AICPA Employee Benefit Plan Quality Center. Eileen is an active member of the International Foundation of Employee Benefit Plans.  

Campbell, Adam 

Eide Bailly, Minneapolis, MN 

Adam Campbell, CPA, is a partner at Eide Bailly, LLP. He provides audit and consulting services for employee benefit plans. Adam serves as the lead partner for approximately 45 employee benefit plan engagements each year, with a specialty in defined contribution and defined benefit plans, and he also performs SOC 1 and SOC 2 examinations. Adam is heavily involved in developing and executing Eide Bailly’s internal employee benefit plan trainings and seminars. He also serves on Eide Bailly’s firmwide ERISA Technical Issues Committee and the firm’s internal employee benefit plan administrators SOC review team. 

Heap, Marjorie 

Eide Bailly LLP, Plymouth, MN 

Marjorie H. Heap, CPA, a senior manager with Eide Bailly, LLP, has experience in all phases of employee benefit plan engagements including planning, execution and quality control. In addition, she has a wide variety of public accounting experience covering all levels of financial statement service across several industries, developing and teaching training programs, and involvement in various levels of firm quality control. 

McMennamin, Lynne 

U.S. Department of Labor, Washington, DC 

Lynne McMennamin, CPA, is an auditor in the Division of Accounting Services and a senior reporting compliance specialist in the Division of Reporting Compliance in EBSA’s Office of the Chief Accountant. Before joining the Department of Labor in 2013 she spent more than 20 years in public accounting, including 10 years as a partner with an international accounting firm. Lynne has served on the AICPA Employee Benefit Plan Expert Panel and the AICPA Employee Benefit Plan Audit Quality Center executive committee.   

Linder, Debra 

Fredrikson & Byron, P.A., Minneapolis, MN 

Debra J. Linder, JD/MA, CPA, is a shareholder in the compensation planning and employee benefits group at Fredrikson & Byron, P.A. She advises large and small public, closely held and tax-exempt employers on plan design, administration and compliance issues. She speaks frequently to professional and business groups about recent developments in benefits and executive compensation. In the past, she served as adjunct faculty at the University of St. Thomas, teaching courses in the administration of retirement and welfare benefit plans. 

Voecks, Matt  

Pensionmark, Bloomington, MN 

Matt Voecks, RPA, CPFA, AIF©, is a CEFEX-certified retirement plan adviser with SevenHills Benefit Partners – A Pensionmark Associate. He has been consulting with qualified retirement plans since 2004 and has expertise in plan design and investment process. As a qualified plan consultant, Matt assists his plan sponsor clients in meeting their fiduciary obligations to their participants and strategically aligns the communication effort with organizational goals. 

Wolf, Melissa 
Baker Tilly US, LLP, Wilkes-Barre, PA 

Melissa M. Wolf, CPA, is a firm director in Baker Tilly's employee benefit plan audit practice. With more than 20 years of experience specializing in the audits of employee benefit plans, Melissa is a regional leader of the employee benefit plan practice and the firm leader for the Form 5500 practice. Her areas of expertise include employee stock ownership, defined contribution, defined benefit and health and welfare plan auditing.