FAS 141R Understanding Fair Value for Business Combinations
LIVE webcast

Michael Tully, CFA, ASA
Principal, Transaction Advisory Services/Valuation and Business Modeling
Ernst & Young LLP

Mike Tully has spent over 16 years in the business valuation industry. Most recently, Mr. Tully participated in a fellowship at the Financial Accounting Standards Board in Norwalk, CT from January 2007 thru August 2008 where he provided valuation expertise and guidance to various standard setting activities. He was a member of the FASB’s SFAS 157 implementation and SFAS 141(R) project teams and was the chairman of the FASB’s Valuation Resource Group. Additionally, he was the FASB’s observer on the IASB’s Expert Advisory Panel. Mr. Tully is also a frequent speaker on valuation matters relating to fair value and business combination accounting.

Mr. Tully’s areas of expertise are primarily the valuation of common stock, minority and majority business interests, privately held interests, intangible assets (especially customer and technology intangible related), reporting units, accounts receivable assets, derivatives and share based payments (such as employee stock options and restricted stock).

Mr. Tully also has experience valuing reporting units and intangible assets in conjunction with purchase price allocations and impairment testing for U.S. GAAP purposes. Other related areas of specialization include, financial analysis of a company's historical operating and future estimated performance, and competitor trends. Mike’s industry specialties include: (i) aerospace and defense, (ii) engineering and construction, (iii) biotechnology/pharmaceuticals, (iv) high technology, (v) consumer products, and (vi) health care.

Mr. Tully received his M.B.A from Pepperdine University and his B.S., Business Administration from the University of Southern California.

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Gary Roland, CFA, CPA
Managing Director, Office of Professional Practice
Duff & Phelps, LLC

Gary Roland is a Managing Director in the Office of Professional Practice of Duff & Phelps, LLC. As a member of the Office of Professional Practice, Gary provides guidance and resolution to Financial Reporting/Tax Valuation technical issues, and participates in interactions with Standard Setters, Regulators, Public Accounting Firms and Professional/Industry associations. During Gary’s twenty-five years of experience in the valuation profession, he has been involved in valuation engagements related to intangible assets, companies (including reporting units, subsidiaries and legal entities) and impairment testing in a wide and diverse field of industries.

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Michael J. Mard, CPA/ABV, ASA
President
The Financial Valuation Group

Michael J. Mard, CPA/ABV, ASA has been a full-time business appraiser and expert witness for over 25 years with a broad range of experience from small companies to very large billion dollar companies, both private and public. He has developed analyses that have been reviewed and accepted by the Securities and Exchange Commission, major accounting firms, the IRS and the courts. Mr. Mard has provided expert testimony approximately 100 times, in both Federal and state courts, related to intangible assets, intellectual property, business damages, marital dissolution, shareholder disputes and IRS matters.

Mr. Mard is lead author of four books, most recently Business Combinations, with SFAS 141R, 157 AND 160, A Guide to Financial Reporting, published by Wiley & Sons, Inc., January, 2009. He is a co-author of four additional books, all published by John Wiley & Sons, Inc. Mr. Mard has co-authored over 20 courses and published over 60 articles. He has been a presenter, speaker and instructor more than 70 times.

In 1998, Mr. Mard was asked by the AICPA to assist the FASB staff in its research and development of procedures for valuing intangible assets. This led to the passage of SFAS 141 and 142. He gave two educational presentations to the full Board during this time and served on the original FASB Valuation Resource Group. In 2007 he was reappointed to that Group. For the last eleven years, he has worked with various task forces of the FASB and now enters his third year serving the FASB’s Valuation Resource Group.

Mr. Mard has received the AICPA Business Valuation Volunteer of the Year Award and been inducted into the AICPA Business Valuation Hall of Fame. He has a Masters of Accounting from the University of South Florida, is a Florida CPA and holds the AICPA Accreditation in Business Valuation (ABV) specialty designation and the Accredited Senior Appraiser (ASA) with the American Society of Appraisers.

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Charles Chubb
Managing Director
WTAS LLC

Chuck Chubb has over 30 years of experience in advising a broad range of clients on federal, international and state and local tax matters. Before joining WTAS, he was a Tax Partner in two international professional services firms.

Chuck is WTAS’ firmwide practice leader on Accounting for Income Taxes (FAS 109 / FIN 48), including US, non-US, and state and local income taxes. He has extensive experience in:
    - Preparation or review of tax-accrual workpapers supporting computations of income tax provisions in
      company financial statements
    - Tax accounting for special situations, including mergers and acquisitions and foreign operations
    - Determination of level of sustainability of uncertain tax positions (FIN 48)
    - Drafting or reviewing footnote disclosures of tax matters in company financial statements
    - Evaluation and documentation of valuation allowances
    - Income tax accounting in fresh-start accounting cases
    - Consultation on FAS 109 / FIN 48 software

Chuck’s clients span numerous industries, including retail, manufacturing, communications and financial services.

Chuck has been an instructor on taxation at several Tax Executive Institute training sessions.

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FAS 141R Understanding Fair Value for Business Combinations LIVE webcast
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