Webinar Event

Chartered M&A Practitioner
Exam Preparation
A Two-Part Webinar Series

Two-Hour Live Webinar Presentations
Featuring: Scott Miller

Part 1 - March 18, 2010
Part 2 - March 25, 2010

Webinar Time
11:00 am - 1:00 pm Pacific Time
12:00 pm - 2:00 pm Mountain Time
1:00 pm - 3:00 pm Central Time
2:00 pm - 4:00 pm Eastern Time

Program Content
This course is designed to help candidates pass the CMAP accreditation examination (Chartered Merger and Acquisition Professional) issued by MMIBA (The Middle Market Investment Bankers Association).The course is divided into two 2 hour sections (Parts One and Two) and is suitable for an experienced M&A professional who has not taken the M&A week long workshop offered by NACVA and MMIBA or for students who want a refresher before taking the examination. The TEST consists of a proctored four hour examination of 250 to 300 multiple choice questions.

Part 1	Part 2
As a coaching course for the accreditation examination , this material also provides a very basic introduction to M&A and to M&A concepts as taught in the week long workshop. It is not however intended as a substitute for the depth and breadth of materials taught in that workshop. Material covered will include:
• The middle market: buyers, sellers and drivers. • The three M&A market and the intermediaries that serve them. • Introduction to buy side and sales side. • Basic M&A documents, timelines and protocol. • Auctions, formal and informal. • M&A versus formal valuation. • The Rules of Five and Ten. • The Super Rule of Five • Timing and growth cycles. • M&A Enterprise Value. • Introduction to M&A: EBIT and EBITDA and Cap-ex. • The buyer seller LOI advantage curve. • Use of comparables in M&A.. • Beyond multiples: Revenue stability and growth. • Introduction to normalization. • Preparing for sale and use of GAAP. • Consideration mixes and their affect on deal value. • Due diligence, preliminary and confirmatory. • Balance sheet conventions and targets. • Multiples and multiple realities. • Confidentiality. • Operating versus non operating assets	• Private equity groups and venture capital. • EBITDA and similar multiples on the buy side. • Market multiples, Cap rates, Discount rates WAAC and cap ex buy side in M&A. • Hurdle rates. • Synergies; Types and achieving and valuing them. • DCF methods and the buy side. • Mergers of equals. • Deal Structuring. • Negotiations • Indemnifications and escrows • Real Estate in the deal • Product line valuations • Taxes and accounting • Earn outs • Financing sources and capital markets • The business of investment banking and licensure • Financial services agreements • Normalization and recasting • Professionals on Sales side M&A Team • Non competes

Who Should Attend
Those wishing to achieve the M&A Certification and designation.

Presenter

Scott Miller
CPA/ABV, CVA
As an entrepreneur himself, Scott Miller understands closely held and family-owned businesses. He balances that perspective with years of corporate experience, starting his career at a national public accounting firm, going on to serve as a VP of Finance and plan fiduciary for a large ESOP company. He then served as a principal in several family businesses, and founded ESI in 1993. At ESI, he’s helped hundreds of businesses through transition planning, including valuations, strategic planning, financing, fairness opinions, terminations and litigation support.
As a nationally recognized authority on business valuations, he’s published widely in professional journals and is a sought-after speaker for professional and industry groups. He’s authored technical seminars for the American Institute of Certified Public Accountants and the National Association of Certified Valuation Analysts. Scott has an undergraduate degree from Kenyon College and an MBA from the Cornell University Johnson Graduate School of Management. He is a CPA with additional business valuation accreditation from the AICPA and NACVA.

CPE Credit

The National Association of Certified Valuation Analysts 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. Web site: www.nasba.org

Program Level: Overview	Prerequisites: None	Advanced Preparation: None
Delivery Method: Group-Internet-Based	CPE Credits: Two (2) hours per webinar	Fields of Study: Specialized Knowledge & Applications

If you are a member of both NACVA and the IBA --receive a 15% discount off the non-member registration fees.

Pricing
The Chartered M&A Practitioner Exam Preparation Webinar Series is packaged and priced as a two-part series.

NACVA/IBA members: $175 per webinar minus 10% = $315 for the Webinar series
Non-members: $195 per webinar minus 10% = $351 for the Webinar series

Because every live webinar presentation will include periodic online questions during the session to assess continuous participation and to determine the program’s effectiveness, both the primary registrant and any additional registrants must view and listen to the webinar presentation at individual computers in order to receive NASBA/NACVA qualified CPE credit.

REGISTER NOW !
Complete the Registration Form: click here and fax it to (866) 548-2321 or scan and email it to NACVAWebinar@nacva.com. For information regarding administrative policies such as complaints and refunds, please call our Director of Member Services: (801) 486-0600. Webinar Cancellation Policy: click here

IMPORTANT NOTE: After you register, you will receive email confirmations with web logon and teleconference instructions from NACVA Webinar Information (NACVAWebinar@nacva.com). Please check your spam and/or junk folders to insure you receive these communications. Thank you

Consultants’ Training Institute
c/o National Association of Certified Valuation Analysts
1111 Brickyard Road, Suite 200
Salt Lake City, Utah 84106-5401
Tel: (801) 486-0600 ▪ Fax: (801) 486-7500 ▪ Internet:www.nacva.com