Track One (Friday)

Inflation and Russia-Ukraine Conflict: Impact on Cost of Capital Assumptions

Friday, August 19, 2022 9:20 a.m. - 11:00 a.m. MT

In the aftermath of COVID-19, inflation has reached 40-year highs in the U.S. It may take some time for the Federal Reserve to get inflation under control, and there are questions on whether long-term inflation expectations have risen permanently. The Russia-Ukraine War is placing additional pressure on global prices. In this session, we will discuss:

  • current economic conditions and recent updates to projected economic growth and inflation; 
  • impact of inflation on projected cash flows; 
  • selection of long-term growth rates in the terminal year; 
  • impact of inflation on cost of capital inputs; and
  • highlights of industries that have been most impacted by the rising inflationary environment.

After completing this session attendees will be able to: 

  • Explain how inflation impacts the two major inputs in valuation (projected cash flows and the discount rate)
  • Describe the current inflation situation in the U.S.
  • Discuss why the current environment is not typical
  • Describe why it is important to get inflation under control and the tools the Federal Reserve must use to control it
  • Identify how the Ukraine conflict is aggravating inflation in the U.S., and which industries are most and least impacted

Total CPE: 2
Fields of Study: Economics: 1, Finance: 1
Program Level: Intermediate - Learning activity level that builds on a basic program most appropriate for individuals with detailed knowledge in an area.

Who Should Attend:

Valuation Professionals, Accounting Professionals, Corporate Development teams, CFOs, Controllers, Finance department leaders, Investment banking professionals, Private Equity, and Hedge Fund professionals.


Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.

Advanced Preparation:


Carla Nunes
Carla  Nunes


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Jim Harrington
Jim  Harrington

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