Course Overview
In the current climate the valuation of assets and companies is subject to considerable debate. There is often a wide disparity between the views of buyer and seller given the degree of uncertainty regarding future cash-flows. The increased volatility of future cashflows in more difficult valuation scenarios further widens this perception gap.
The valuation problem is compounded by the misconception regarding the difference between the price that is paid for an asset and the expected future value of the asset. Price and value are not the same and valuation models allow us to understand the difference between what you pay for an asset and what future value you may derive from that asset.
This seminar takes valuation techniques considers important contemporary techniques including the application of the discounted cashflow techniques in emerging markets, mergers and acquisitions, understanding the residual income method and EVA, the application of CFROI and the use of real option analysis.
Case studies from a wide variety of sectors and countries are included as are practical exercises involving problem areas in valuation. The seminar also includes critiques of the conventional techniques and considers suitable alternatives to be deployed in differing circumstances.
