ICVS-A (Advanced Studies in Financial Instruments)

ICVS-A (Advanced Studies in Financial Instruments)

In the world of accounting and
valuation, much consternation exists among CPAs, Government Auditors, Financial
Analysts, and Credentialed Valuators regarding the
determination of the fair value of financial instruments. Both the Securities
and Exchange Commission (SEC) and the Public Company Accounting Oversight Board
(PCAOB) have identified the fair value reporting of financial instruments as
one of the top priorities needing improvements. Most prominent among the
reasons given for the failures to accurately determine the values of these
financial constructs is the complexity of these instruments, which are steadily
increasing as a result of enhanced computing capabilities. And, this apprehension
is not limited to the United States; the International Valuation Standards
Council (IVSC) also expressed major concerns over the lack of quality
derivative product valuations. To address this issue, the Center for
International Business Valuation (www.cfibv.org), a research think tank, consulting, and training organization
developed the three-day course Advanced Studies in Financial Instruments.  

Who needs to Attend:

·     

Business Valuators

·     

Accountants and Auditors

·     

Chief Financial Officers, Comptrollers, Treasurers

·     

Valuators, Appraisers, Financial and Equity Analysts, Real
Estate Analysts

·     

Bank Trust Officers, Credit Products Officers, Investment
Analysts, Portfolio Managers, Asset Management Specialists, Mergers
and Acquisitions Directors

 Business Valuators with a credential such as the ICVS, ASA,
ABV, CICBV, BCA, or CVA are welcome to attend. The course materials are
advanced in format and require students to have a thorough understanding of
business valuation techniques. For more information about obtaining these
foundational skills click here.

The Credential:

The International Association of
Certified Valuation Specialists, in conjunction with the Center for
International Business Valuation, has added an advanced level to the
International Certified Valuation Specialist (ICVS) credential; valuators can
now earn the ICVS with Advanced Studies in Financial Instruments (ICVS-A). The
body of knowledge for the ICVS-A was developed by Dr. Joel M. DiCicco, CPA,
BCA, ICVS, a full-time member of the Executive Business and Department of
Accounting faculty at Florida Atlantic University’s College of Business and a
former Territory Manager for the Financial Products Division of the IRS.  The Advanced Studies in Financial Instruments the course covers the material needed to be mastered for the ICVS-A credential and,
upon completion of the training program, students can sit for the ICVS-A
credentialing exam. This advanced credential in the fair value of financial
instruments can be earned along with the initial ICVS or can be added to
enhance a current ICVS credential.  The
ICVS-A designation also requires acceptance as a member of IACVS.

The Credentialing Exam:

The ICVS-A designation requires an
understanding of valuation techniques for various financial instruments,
ranging from basic securities to complex derivative constructs. Upon completion
of the training program, students can participate in the ICVS-A credentialing
exam, which is comprised of a case study and valuation problems concerning
derivative products. The test covers fair value accounting under both US GAAP
and IFRS, the valuation of financial instruments (including derivative
products), and the use of Python programming language (the language of choice
for valuing financial derivatives).

Participants have six (6) months to
complete the course and take the exam. 
The exam is a combination of online multiple-choice questions and a
written case study that is submitted in electronic format. The exam has 3 parts: two levels of multiple choice and a valuation
case study.  The multiple-choice parts of
the exam are remotely monitored and the case study is refereed. A panel of
experts reviews the case study to determine if the criteria has been met pass
the valuation portion of the exam.

Each
part of the exam can be done separately but Part 1 of the multiple-choice must
be passed before Part 2 of the multiple-choice is attempted. The case study is distributed
after both parts of the multiple-choice exam are completed. During the 6 months to complete the exam, each part
maybe attempted twice. After the six months, applicants would have to pass all
3 parts from the beginning and pay to take the exam again.

Delivery Methods:

Live Zoom and/or Online

Learning Objectives:

• Apply accounting standards for fair value and
  understand the history behind the fair value movement 
• Ascertain the purposes behind the issuance and usage of
  complex derivative products 
• Employ the current valuation techniques for these financial
  products
• Utilize the programming language of Python, which is
  dominant in the valuation of financial constructs

Topics covered:

• The three valuation approaches
• Fair value accounting and disclosure requirements
• Fair value methodologies and techniques for valuing
  financial instruments (equities, debt, securitized instruments, and
  derivatives)
• Python Programming Language using Financial
  libraries 

Class Materials Participants will
receive:

• Live interactive Zoom training (with the live Zoom course only)*
• Advanced Studies in Financial Instruments Body of
  Knowledge Manual
• Six-month online access to lecture slides and videos
• Python fundamentals course with financial applications
• Practice ICVS-A multiple-choice questions with the
  correct answers and the quantitative answers explained.

* The online-only course does not include personal learning support.

Continuing Education Units: 

The Advanced Studies in Financial
Instruments course provides 22 hours of Continuing Professional Education units
meeting the standards of the Florida State Board of Accountancy and other
professional bodies.  In addition, with
the recommended Optional Self-Study for the ICVS-A credentialing exam
utilizing the online materials, links, and practice problems included with the
live training approximates 58 CPE units: 29 hours in Technical Business and 29
hours in Accounting and Auditing.

Certificate of Completion:

The ICVS-A credential certificate is
awarded for passing the exam and being accepted as an IACVS Member.  Participants not wishing to apply for the
ICVS-A credential will receive a Certificate of Completion from the Center for
International Business Valuation upon successful completion of the course.

For more information, please call
844-235-0220 or email Heidi DiCicco at heidi@diciccofamily.net.

About the Course Instructor: Dr. Joel Dicicco

Dr. Joel M. DiCicco, CPA, CFF, BCA, PFS, CGMA

Dr. Joel DiCicco is a CPA with over 30 years of practitioner experience in finance, taxation, and accounting/auditing.  For approximately 20 years, Joel worked for the IRS with increasingly responsible jobs leading up to his position as Territory Manager for the Financial Products team east of the Mississippi.  In this role, he worked and supervised the most complex and sophisticated tax structuring and valuation issues, utilizing many of the latest forensic techniques applied in tracking the true substance of transactions. Part of this role included overseeing the valuation of emerging and complex financial instruments, formulating policies and tax positions, reviewing and evaluating issues pertaining to structured products, debt/equity concerns, abusive transactions, and valuations, examining the tax treatment and valuation accorded complex financial constructs and performing complex mathematical valuations of these instruments. Dr. DiCicco also was the lead instructor for all three phases of the IRS’s National Financial Product Training and he served on details as Territory Manager for both Global High Wealth and Large Business Employment Taxes.  Further, Joel developed multiple training guides and toolkits spanning a variety of emerging issues in conjunction with the IRS National Office legal division.

 Dr. DiCicco currently is on the Editorial Review Board for the Florida Institute of Certified Public Accountants and the International Society of Business Appraisers.He has been a faculty member at Florida Atlantic University for more than 12 years and is now a full-time instructor for the Graduate Executive MBA program. Over these years, he has taught courses in accounting, finance, and taxation.  In addition, Joel is quite involved with both FAU’s Financial Analyst and Master of Science in Finance programs. Dr. DiCicco is a Certified Public Accountant (CPA), Certified in Financial Forensics (CFF),  Chartered Global Management Accountant (CGMA), and Personal Financial Specialist.

Pricing:

Virtual Zoom and Online: $1,500*. A discounted group rate is available.

$1350 (IACVS Members)

Online only: $1000* The cost includes six months of full access to the class materials.

$900 (IACVS Members) 

* Cost includes one-year IACVS membership and exam fees.

The Center for International Business Valuation is currently processing its payments through a partner, Maryland Global University. Once your payment has cleared, the Center will grant you access to its Learning Management Portal. 

Refund Policy

For more information, please call 844-235-0220.

REFUND POLICY