Professor Michael Crain did an amazing job giving us assignments that mimic real life valuation engagements; he also taught us how to write the reports properly. I really enjoyed all of the courses, and I think they prepared me well for a career in business valuation.
The Certificate in Business Valuation is a four-course certificate program that is designed to provide students with specialized knowledge and skills that address an important and growing specialized area of accounting. The courses in the program are offered in a lock-step manner.
Business valuation is a major area of work open to accountants and suited to forensic accountants in particular. Business valuation as a niche business is growing exponentially fast.
According to Accounting Today’s Top 100 Firms Survey in 2011, business valuation was the number one niche business in terms of growth. Business valuation also topped the list in 2012 and has been a leader for significant growth for a decade.
Judges and lawyers seeking to establish an individual’s net worth during litigation need to put a price on enterprise assets, and the most trusted appraisal comes from a forensic accountant who has specialized in business valuation. The expert witness training organization SEAK conducts periodic surveys of the fees paid to expert witnesses in the US. Its latest survey is only obtainable by purchase, but the 2004 data is available free of charge. In that year the average rate was $385 per hour for testimony in court, $254 per hour for file review and preparation and $353 per hour for depositions, plus charges for all out-of-pocket expenses. According to the US Bureau of Labor Statistics, remuneration for management, business and financial occupations increased by 28% between March 2004 and September 2011, so it is reasonable to assume that the average rate for expert witnesses is now in the region of $325 to $500 per hour, with far higher rates towards the top end of the market.
Accounting Fraud Examination Concepts (ACG 6686) 3 credits Prerequisites: Admission to College of Business master's program and ACG 6027 or ACG 2021 Overview of the nature of occupational fraud and how it is committed including an introduction to the actions that can be taken to determine the presence of occupational fraud and the procedures that can be implemented to deter it. Also covered is the proper manner in which allegations of fraud should be investigated to meet the requirements of civil/criminal court procedure.
Business Valuation for Forensic Accountants (ACG 6375) 3 credits Prerequisites: Admission to College of Business master's program and ACG 2021 or ACG 6027 An introductory course designed to provide a solid foundation for students entering the business valuation profession. Course introduces business valuation theory, research methodology, economic and industry analysis, the asset approach, and other introductory topics as well as valuation report writing.
Business Valuation, Advanced Theory, Concepts and Methodologies (ACG 6379) 3 credits Prerequisites: Enrollment in School of Accounting Executive Programs and ACG 6375 A study of the advanced theory, concepts and methodologies applicable to business valuation. Applications include cost of capital, valuation report writing, advanced application of the major valuation approaches, valuation synthesis, discounts and premiums, pass-through tax entities and expert witnessing in valuation for litigation, financial reporting, taxation and transactions.
Business Valuation for Fair Value Accounting, Auditing and Financial Reporting (ACG 6377) 3 credits Prerequisites: Enrollment in School of Accounting Executive Programs and ACG 6379 Applies fair value measurement standards and concepts to auditing and financial reporting. Specific financial reporting areas covered include business combinations, intangible assets, alternative investments and contingent consideration. Applies fair value measurement in the context of the auditing standards.