After a diagnostic quiz on the six financial functions of one and a brief review, General Appraiser Income Approach/Part 2 opens with a thorough treatment of discounted cash flow (DCF) analysis. Topics include identifying components of a DCF, projecting cash flows, analyzing leases, solving for value in a variety of common situations, and supporting the discount rate. The effects of debt financing including cash equivalence and equity analysis are covered in detail. Income patterns and property models including residual and other applications are followed by selecting and supporting the discount rate. Also presented are the strengths and weaknesses of direct and yield capitalization. The final section reviews and summarizes the mathematical concepts involved with income capitalization and prepares the participant for not only the course exam but also the certification exam.

The Appraisal Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN, 37219-2417. Web site: www.nasba.org.  Delivery Method: Group-Live

• Those seeking General Appraiser certification 
• Underwriters 
• Lenders 
• Assessors

• Laptops are NOT required. 
• A financial calculator is required. The accepted model used in the course is the HP-12C. Note: Cellular phones, tablets, iPads, and other devices that connect to the Internet are NOT permitted during the exam. 
• HP-12C calculator user's manual 
• You must be familiar with calculator operation when the course begins. Answers to problems in course material are shown using the HP-12C. Do not come to class expecting to be taught how to use a financial calculator. 
• Free Review: Using a Financial Calculator; Formulas, Symbols, Math Review, and Sample Problems; and Financial Calculator Practice Exercises 
• For additional help with the HP-12C calculator, take our online seminar, Using Your HP-12C Financial Calculator

• Basic Appraisal Principles 
• Basic Appraisal Procedures 
• General Appraiser Income Approach/Part 1

Students must sign a waiver at the beginning of the course stating that they have the prerequisites. If they do not, they will not hold the Appraisal Institute responsible and will not expect to receive special attention during the course.