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Description: MBA BOOT CAMP 2021 Series
Episode #4 Where Did All My Profits Go? Mastering the Concept of Working Capital
April 22, 2021 at 2:00 PM CST
Stated simply, Working Capital = Current Assets - Current Liabilities. This equation helps a company
(and its financing sources) understand whether it has enough short term cash inflows to cover its short
term cash outflows, also referred to as liquidity.
But it’s not as simple as that. And, because it is the elemental center of cash flow, which in turn is the
lifeblood of any business, it deserves much attention.
Understanding the various parts of working capital will allow you to develop a plan for taming your
working capital and, instead, have it work for you. In this webinar you will learn what parts of the
balance sheet make up working capital and what actions cause the most problems with cash flow. It
also covers best practices for managing working capital that will allow you to avoid working capital
issues that can negatively impact cash flow, tax acceleration and make financing difficult to find.
This webinar is delivered in Plain English, understandable to you even if you do not have a background in the subject. It brings you into an engaging, even sometimes humorous, conversation designed to entertain as it teaches. And, it is specifically designed to be viewed as a stand-alone webinar, meaning that you do not have to view the other webinars in the series to get a lot out of it.
Speaker Information
Moderator:
Jonathan Friedland, Partner, Sugar Felsenthal Grais & Helsinger, LLP
Jonathan Friedland, a senior partner with Sugar Felsenthal Grais & Helsinger, LLP, views his job simply: to make money for clients whenever possible and to protect their interests at every turn. Licensed in four states, Jonathan’s transactional work focuses on representing private funds and other owners of private businesses, and the businesses they own. He regularly advises on M&A activities, structuring new ventures and restructuring old ones, and on other commercial relationships. Jonathan is rated AV® Preeminent™ by Martindale-Hubbell, 10/10 by AVVO, and enjoys several other similar distinctions. Jonathan graduated from the State University of New York at Albany, magna cum laude (in three years) and from the University of Pennsylvania Law School. He clerked for a federal judge before entering private practice and served for several years as an Adjunct Professor of Strategic Management at the University of Chicago’s Graduate School of Business. Jonathan is lead author and editor of several significant treatises, several chapters in other treatises, and scores of articles on law and business.
Panelist #1:
Ken Yager, President, Newpoint Advisors Corporation
Ken has 25 years of executive leadership experience in stakeholder communication. Mr. Yager regularly takes on profit and loss and risk-management responsibility for cash-constrained companies in growth, leveraged-buyout and turnaround situations. He also has successfully worked on implementing dozens of initiatives involving, operations and project management, team building, marketing, and sales and joint-venture management. He is a fierce advocate for capital preservation and saving jobs.
Ken has worked with clients in a variety of industries in over 100 engagements. Prior to Newpoint Advisors, Mr. Yager was a Principal at MorrisAnderson, a national turnaround management firm focused on assisting companies deal with severe liquidity issues and insolvency. Mr. Yager previously held positions at Newpoint Ventures, a company dedicated to revitalizing middle-market companies through new management and the introduction of low-cost employee leveraging tools; Equity Sponsor Business Development at Bank of America; The Assurance practice of Coopers & Lybrand and the Capital Markets Division of Salomon Brothers.
Ken earned a Bachelor’s degree in Management with majors in Finance and Accounting from Tulane University, A.B. Freeman School of Business, and received a Master of Management degree from J.L. Kellogg Graduate School of Management. Ken is a member of the Chicago/Midwest chapter of the Turnaround Management Association (TMA) and was on the International Board as the Vice President of Education and chairs the Education Oversight Committee. Member of American Bankruptcy Institute.
Panelist #2:
Richard Claywell, Principal, The Office of J. Richard Claywell CPA
Richard is a practicing Certified Public Accountant, and holds the additional designations of Accredited in Business Valuation, Accredited Senior Appraiser, Certified Business Appraiser, International Certified Valuation Specialist, Certified Valuation Analyst, Certified in Merger & Acquisition Advisor, Master Analyst in Financial Forensics, Certified in Fraud Deterrence, Accredited in Business Appraisal Review. Richard has been valuing closely held companies since 1985. Richard’s practice is restricted to business valuation, economic damages, profit enhancement and exit planning.
Richard received his Bachelor of Science in Accounting in 1979 from the University of Houston – Clear Lake. He then received certification as a Public Accountant in 1983. Over the years, Richard has earned additional accreditations that relate to business valuations, economic damages and fraud. Richard has been an instructor for the National Association of Certified Valuation Analysts for many years, has been an instructor for the Internal Revenue Service and the International Association of Consultants Valuators and Analysts (IACVA). Richard is currently the Director of Education for the IACVA and is responsible for the business valuations materials being taught in 55 countries. Richard has taught business valuation or economic damage courses in China, Korea, Taiwan.
Richard has performed over 1,000 business valuations since 1985. Richard has testified in Texas County Court, Texas State Court, Bankruptcy Court and Texas State Courts. Richard has given testimony in economic damages (lost profits), shareholder disputes, personal injury, wrongful termination and divorce.
Panelist #3
Michael Pakter, Managing Member, Gould & Pakter Associates, LLC
Mr. Pakter focuses on financial analysis, forensic accounting, economic damages, valuation issues and investigations. He has experience in financial forensics, determining lost profits, business interruption claims, earn-outs, analyzing financial transactions and balances, establishing fair value and reconstructing incomplete, misstated and/or falsified financial information.
Mr. Pakter provides consulting and litigation support services to trial lawyers, trustees, examiners, receivers, business owners and managers and units of federal, state and local government. He has experience with disputed financial transactions in commercial litigation, conducting investigations, examining financial transactions and balances, Court-ordered accounting and bankruptcy core proceedings.
Mr. Pakter has more than 35 years of experience in accounting, financial analysis, financial forensics and investigations, including more than 15 years of experience in economic damages and business valuations. He has participated in public hearings and alternative dispute resolutions, submitted expert reports in several jurisdictions and testified in arbitrations, regulatory proceedings and State, Federal and Bankruptcy Courts. Courts and arbitral bodies have recognized him as an expert in accounting, business valuation, financial analysis, economic damages and business economics.
Mr. Pakter is a Certified Public Accountant, registered and licensed in the State of Illinois. The AICPA has recognized him as additionally Certified in Financial Forensics and Management Accounting. He earned the National Association of Certified Valuation Analysts’ Certified Valuation Analyst designation and Master Analyst in Financial Forensics having completed its business valuation and business and intellectual property damages specialty programs, respectively.
The Association of Insolvency and Restructuring Advisors has awarded Mr. Pakter its Certified Insolvency and Restructuring Advisor certificate and its Certification in Distressed Business Valuation. He is a Certified Fraud Examiner, which credentials denote proven expertise in fraud prevention, detection and deterrence. He earned a Chartered Accountant credential and his undergraduate academic education was in accounting, auditing, commerce and business economics.
 | | Practice Areas: | | Banking & Finance Law, Business Organizations & Contracts | | | Online Media Type: | | Audio | | | Production Date: | | 04/22/2021 | | | Level: | | Intermediate | | | Category: | | Standard | | | Duration: | | 1 Hours, 2 Minutes | | | Online Format: | | On Demand | | | Course Type: | | Public |
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| | • | Jonathan Friedland - Sugar Felsenthal Grais & Helsinger | | • | Richard Claywell - J. Richard Claywell CPA | | • | Michael D. Pakter - Managing Member, Gould & Pakter Associates LLP | | • | Ken Yager - Newpoint Advisors Corporation |
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