ASA NJ Calendar

Chapter 73, serving the bustling Northern New Jersey corridor, is one of the most active in the nation! Our calendar of educational, recreational, and social events has the latest news about seminars, meetings, lectures, speeches, parties, and functions.

Business Valuation Seminar: April 2010

The Philadelphia Chapter of the American Society of Appraisers (ASA) will hold its annual Business Valuation Seminar at the Doubletree Guest Suites Hotel in Plymouth Meeting, PA on Friday, April 30, 2010. The program includes how-to sessions conducted by leading thinkers on such topics as IRC 409A and SFAS 123R, intellectual property valuation, reasonable compensation, and lack of marketability discounting.

April ASA Philadelphia Business Valuation SeminarMark L. Zyla, ASA, a Managing Director of the Atlanta Georgia firm of Acuitas, Inc. will present A Case Study in 409a and 123R Valuations from 8:30-10:30 am. Mr. Zyla is the author of Fair Value Measurements: Practical Guidance and Implementation (Wiley, 2009) and co-author of AICPA courses Fair Value Accounting: A Critical New Skill for All CPAs and Accounting for Goodwill and Intangible Assets. His presentation will explore current valuation methods, option pricing models and probability return models, discounting for lack of control and lack of marketability, and compare IRS 409A vs. auditor's SFAS 123R expectations.

P.J. Pankaj Patel, ASA, a Senior Vice President, and Edward P. Hamilton, a Vice President, at the Princeton, NJ Valuation Research Corp. will discuss Valuing Intellectual Property And Other Intangible Assets For Financial Reporting Purposes In A Business Combination from 10:15-11:30 am. Mr. Patel who took his B.S. at the University of Toronto and M.B.A. at Canisius College specializes in the valuation of intangible assets including in-process R & D, software, trademarks, patents and copyrights. Mr. Hamilton, whose baccalaureate is from Rowan University in physics, holds an M.B.A. from Temple University. He focuses on the valuation of intellectual property and intangible assets such as trademarks, technology, software, customer relationships and in-process R&D. Using valuation case studies in consumer products, software, technology, and defense companies, Messrs. Patel and Hamilton will discuss valuing brands, customer relationships and technology, including use of the relief from royalty and excess earnings methods and the 25%/33% rule in valuing intellectual property.

Jim Bowers, a Vice President, and Jeff Bacher, a Senior Consultant, at the Philadelphia office of the Hay Group, will present a program on Reasonable Compensation from 11:30 am to 12:15 pm. Mr. Bowers, who took his B.S. at Pennsylvania State University and holds a M.I.L.R. from Cornell, specializes in executive compensation, global job evaluation and general rewards, with a focus on the chemical, pharmaceutical, and energy industries. Mr. Bacher is a Senior Executive Compensation Consultant for Hay and has over twenty years consulting and executive experience. Their presentation will focus on the nuts and bolts of reasonable compensation, including tools to determine reasonableness, and factors that would undermine the presumption of reasonableness.

John J. Barton, ASA, President of Brandywine Valuation Consultants, LLC in Lyndell, PA will discuss Techniques for Estimating the Discount for Lack of Marketability from 1:15-4:40 pm. Mr. Barton holds a B.A. from LaSalle University, an M.A. in literature from Fordham University and an M.B.A. from LaSalle in Finance and Accounting. A specialist in the analysis of closely-held stock, preferred stock, intangible assets, and debt securities, he has taught business valuation courses for ASA, the Big Four accounting firms, the IRS, and at Villanova University. Mr. Barton's discussion of the discount for lack of marketability will use a case study approach focused on these analytical processes:

  • FMV Opinions Restricted Stock Study
  • Valuation Advisors IPO Study
  • Quantitative Marketability Discount Model
  • Option Models


Program Schedule  
Registration, Buffet Breakfast 8:00 am-8:30 am
Morning Session* 8:30 am-12:15 pm
Lunch 12:15 pm-1:15 pm
Afternoon Session* 1:15 pm-4:40 pm

*Morning and Afternoon Sessions include Refreshment Break


Seminar Fees. Seminar fees include breakfast, snacks and lunch.

Early Registration

Register by March 31

ASA Members $225
All others $245

Regular Registration

Register after March 31

ASA Members $250
All others $270


Additional Information. The program qualifies for eight hours of Continuing Education Credit (CEC) for ASA members and for members of other professional organizations which recognize NASBA credit. A seminar brochure, including additional information, biographies of the presenters, a registration form, refund and cancellation policies is available in PDF format [262 KB]. For all other questions, including CEC eligibility for your organization, please contact the seminar organizer, Bob Haas at or (215) 887-6500, or Joanne Paciello at

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February Meeting: Forensic Investigations

This meeting has be CANCELED due to inclement weather and will be rescheduled.

The February chapter meeting will be held on Thursday, February 25, 2010 at 6:00 pm at Pal's Cabin in West Orange, NJ. The Executive Meeting is scheduled for 6:00 pm followed by Dinner at 6:30. The guest speaker is J.W. “Ted” Ibex, CPA, ABV/CFF, a Partner in the Tinton Falls office of Marcum LLP, who will talk about Forensic Investigations.

Mr. Ibex, who got earned his B.A. and M.B.A. in Accounting at Pennsylvania State University, has more than 35 years  experience in financial and business operations. As a member of Marcum LLP's Public Trust group, he has provided forensic and advisory services to government and quasi-government agencies.  As head of Marcum's Commercial Litigation Support Department, he provides business valuation, damage quantification, forensic investigations, accounting, advisory and consulting services in matrimonial, corporate, business and government matters.  Mr. Ibex has also served on his local Board of Education for over 25 years, served on his town Council, and been appointed to Oceanport New Jersey's Planning Board by its Mayor.

The program qualifies for one hour of ASA Continuing Education Credit. Dinner is $30 person. Please RSVP Chapter Secretary Lynn Magnusson, AM by phone (973-425-1550), fax (973-425-1553) or email, and mail her your check payable to "ASA Northern New Jersey Chapter 73" by Monday, February 22.

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