CPE Session 3: Saturday, August 2, 1:00 – 4:00 PM

Description/Objectives:
Content – Presentations, panel discussion and dialogue about the need for new methodologies to allow organizations to report information that goes beyond the historic-focused, financial results-oriented reports of today. Since May 2002, a number of accounting firms and accounting institutes have been working to identify new methodologies that will allow organizations to issue Value Reports about their value creation activities and opportunities in addition to their current financial reports. These activities have taken place under the direction of the Value Measurement and Reporting Collaborative (VMRC).

Objectives – To provide participants with a basis for considering a new reporting model that measures the value being and to be created by a company and reports it in a transparent, consistent, and reliable manner and to solicit feedback from the attendees.

Plan – Discuss and present information needs as seen by a regulator (or standard setter) and a representative of the investment community, what is currently happening in the value measurement and reporting (VMR) area, and examples of how innovative organizations are already using reporting on nontraditional information that goes beyond what is required.

Format/Structure:
There will be five 20-minute presentations and a panel discussion on the concepts put forth in the presentations along with a dialogue involving the attendees. The presenters from the SEC and the investment community will speak about the need for a new reporting model; the presenter from VMRC will speak about some theories relative to measuring and reporting value creation opportunities; and the presenters from the ICM Gathering and the AICPA will give an overview of what is currently happening in the VMR area. This will be followed by a dialogue between the audience and the presenters on value measurement and reporting issues.

Intended Audience:
As part of its charter, the VMRC is open to new ideas and concepts regarding value measurement and reporting. Given the audience of academicians, we want to generate interest in the academic community for the coming change. Also, as the attendees are the educators of future CPAs, the audience needs to be made aware of this change.

Presenters:
William J. L. Swirsky, CICA
Alan W. Anderson, AICPA
VMRC Rep, CICA
J. L. Goodfellow, Deloitte & Touche LLP
Financial Service Market Rep, AICPA
SEC Rep, AICPA
ICM Gathering Rep, CICA