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Lecturer(s)
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Pálka Přemysl, Ing. Ph.D.
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Blahová Michaela, Ing. Ph.D.
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Course content
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Introduction to business valuation. Business valuation and value. Business valuation and legislation. Standards of value. Business valuation - approaches. Business valuation procedure - gathering and analysing of input data. Long-term and short-term financial planning. Projecting key performance drivers. Method selection and valuation. Asset-based valuation. Revenue-based valuation. Combined valuation methods. Methods based on market analysis. Valuation of real options.
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Learning activities and teaching methods
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Lecturing, Exercises on PC
- Participation in classes
- 39 hours per semester
- Term paper
- 30 hours per semester
- Home preparation for classes
- 30 hours per semester
- Preparation for examination
- 25 hours per semester
- Preparation for course credit
- 15 hours per semester
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| prerequisite |
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| Knowledge |
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| Knowledge of corporate finance and accounting is required to enroll in the course. |
| Knowledge of corporate finance and accounting is required to enroll in the course. |
| learning outcomes |
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| characterise the business valuation issues, including related legislative aspects |
| characterise the business valuation issues, including related legislative aspects |
| analyse time and risk factors for business valuation |
| analyse time and risk factors for business valuation |
| explain the business valuation process |
| explain the business valuation process |
| characterize the process of gathering and analyzing input data to develop a financial plan for business valuation |
| characterize the process of gathering and analyzing input data to develop a financial plan for business valuation |
| describe the valuation of tangible and intangible assets, the valuation of liabilities and intrinsic value |
| describe the valuation of tangible and intangible assets, the valuation of liabilities and intrinsic value |
| explain selected methods used for business valuation |
| explain selected methods used for business valuation |
| characterize the process for a comprehensive independent business valuation and the process of selling a company |
| characterize the process for a comprehensive independent business valuation and the process of selling a company |
| Skills |
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| deal with time factor analysis for business valuation |
| deal with time factor analysis for business valuation |
| deal with risk analysis for business valuation |
| deal with risk analysis for business valuation |
| develop a long-term financial plan based on a financial analysis of the business |
| develop a long-term financial plan based on a financial analysis of the business |
| develop a short-term financial plan |
| develop a short-term financial plan |
| evaluate the financial plan on the basis of selected financial analysis ratios |
| evaluate the financial plan on the basis of selected financial analysis ratios |
| perform a business valuation using selected methods |
| perform a business valuation using selected methods |
| teaching methods |
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| Knowledge |
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| Lecturing |
| Lecturing |
| Methods for working with texts (Textbook, book) |
| Methods for working with texts (Textbook, book) |
| Dialogic (Discussion, conversation, brainstorming) |
| Dialogic (Discussion, conversation, brainstorming) |
| Practice exercises |
| Practice exercises |
| Dealing with situational issues - learning in situations |
| Dealing with situational issues - learning in situations |
| Teamwork |
| Teamwork |
| assessment methods |
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| Written examination |
| Written examination |
| Grade (Using a grade system) |
| Grade (Using a grade system) |
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Recommended literature
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DAMODARAN, A. Applied Corporate Finance. 4. edn.. Wiley, 2015. ISBN 978-1-118-80893-1.
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DAMODARAN, A. Investment valuation: tools and techniques for determining the value of any asset. Hoboken: Wiley, 2012. ISBN 978-1-118-01152-2.
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DAMODARAN, A. The Dark Side of Valuation: Valuing Young, Distressed, and Complex Business. Pearson FT Press, 2018. ISBN 0137126891.
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HITCHNER, J. R. Financial valuation: applications and models. Hoboken: Wiley, 2011. ISBN 978-0-470-50687-5.
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KOLLER, T., M. GOEDHART a D. WESSELS. Valuation: measuring and managing the value of companies. Hoboken: Wiley, 2020. ISBN 978-1-119-61088-5.
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MASSARI, M., G. GIANFRATE a L. ZANETTI. Corporate valuation: measuring the value of companies in turbulent times. Hoboken: Wiley, 2016. ISBN 978-1-119-00333-5.
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PUCA, Antonella. Early stage valuation: a fair value perspective. Hoboken: Wiley finance series, 2020. ISBN 978-1-119-61363-3.
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