VŠTE:NZ_OCP_1 Business valuation - Course Information
NZ_OCP_1 Business valuation
Institute of Technology and Business in České Budějovicewinter 2022
- Extent and Intensity
- 2/2/0. 5 credit(s). Type of Completion: zk (examination).
- Guaranteed by
- Ing. Tomáš Krulický, MBA, PhD.
School of Expertness and Valuation – Rector – Institute of Technology and Business in České Budějovice
Supplier department: School of Expertness and Valuation – Rector – Institute of Technology and Business in České Budějovice - Timetable of Seminar Groups
- NZ_OCP_1/Z1: No timetable has been entered into IS.
- Course Enrolment Limitations
- The course is also offered to the students of the fields other than those the course is directly associated with.
- fields of study / plans the course is directly associated with
- Expertness (programme VŠTE, N_ZN) (2)
- Course objectives supported by learning outcomes
- The aim of the course is to provide students with knowledge about valuation methods company and its assets.
- Learning outcomes
- Upon successful completion of the course, the student:
Actively masters the basic concepts of business valuation.
He correctly chooses the valuation method for valuing the company.
Compiles the financial plan of the selected company.
It sets the discount rate for the valuation of the company. - Syllabus
- Lectures:
- 1. Basic concepts of business valuation, main reasons leading to valuation
- 2. Methods of company valuation and their legal aspects
- 3. Preparation of input data for business valuation - summary (strategic analysis, financial analysis, asset analysis, etc.)
- 4. Value generators
- 5. Risk-free rate of return, cost of equity, discount rate (CAMP, modular method)
- 6. Valuation based on revenue analysis
- 7. Valuation of a company using the discounted cash flow (DCF) method - free cash flows
- 8. Valuation of a company by the method of discounted cash flows (DCF) - EVA Entity, Eva Equity
- 9. Valuation of a company by the method of discounted cash flows (DCF) - MVA, TSV…
- 10. Valuation by the method of capitalized net income
- 11. Valuation by the method of combined (corrected) yield methods
- 12. Valuation of synergetic effects in mergers
- 13. Sectoral specifics in the valuation of companies (companies with limited lifetime)
- Seminars:
- 1. Introduction to business valuation, work with information sources
- 2. Selected methods of strategic and financial analysis of the company
- 3. Creating a financial plan
- 4. Determination of value generators and initial valuation
- 5. Calculation of risk-free rate of return, cost of equity and discount rate
- 6. Valuation based on revenue analysis
- 7. Valuation of a company using the discounted cash flow (DCF) method - free cash flows
- 8. Valuation of a company by the method of discounted cash flows (DCF) - EVA Entity, Eva Equity
- 9. Valuation of a company by the method of discounted cash flows (DCF) - MVA, TSV…
- 10. Valuation by the method of capitalized net income
- 11. Valuation by the method of combined (corrected) yield methods
- 12. Valuation of synergetic effects in mergers. Valuation of selected synergies
- 13. Sector specifics in the valuation of companies (companies with a limited life)
- Literature
- required literature
- MAŘÍK, M. a kol., 2018. Metody oceňování podniku – proces ocenění, základní metody a postupy. Praha: Ekopress. ISBN 978-80-87865-38-5.
- MAŘÍK, M. a kol., 2011. Metody oceňování podniku pro pokročilé: hlubší pohled na vybrané problémy. Praha: Ekopress. ISBN 978-80-86929-80-4.
- KISLINGEROVÁ, E., 2001. Oceňování podniku. Praha: C. H. Beck. ISBN 978-80-71795-29-2
- BREALEY, R. A., S. C. MYERS a F. ALLEN, 2014. Teorie a praxe firemních financí. Brno: BizBooks. ISBN 978-80-265- 0028-5.
- recommended literature
- HÁLEK, V., 2009. Oceňování majetku v praxi. Bratislava: DonauMedia. ISBN 978-80-89364-29-9.
- KRABEC, T., 2015. Oceňování a prodej privátní zubní a lékařské praxe. Praha: Grada. ISBN 978-80-247-4866-5.
- ZIMA, P., 2016. Oceňování podniků v právní praxi. Praha: C. H. Beck. ISBN 978-80-7400-623-4.
- KRABEC, T., 2009. Oceňování podniku a standardy hodnoty. Praha: Grada. ISBN 978-80-247-2865-0.
- Forms of Teaching
- Lecture
Seminar
Tutorial - Teaching Methods
- Frontal Teaching
Group Teaching - Cooperation
Brainstorming
Critical Thinking
Individual Work– Individual or Individualized Activity
- Student Workload
Activities Number of Hours of Study Workload Daily Study Combined Study Cvičný znalecký posudek (in Czech) 33 33 Preparation for Seminars, Exercises, Tutorial 11 31 Příprava na ústní zkoušku (in Czech) 32 48 Ústní zkouška (in Czech) 2 2 Attendance on Lectures 26 Attendance on Seminars/Exercises/Tutorial/Excursion 26 16 Total: 130 130 - Assessment Methods and Assesment Rate
- Exam – oral 50 %
cvičný znalecký posudek (in Czech) 50 % - Exam conditions
- For successful completion of the course it is necessary to achieve the sum of a minimum of 70% in the interim and final assessments under the conditions set out below.
Overall course classification, i.e. points for the mock expert opinion (50 - 0) + points from the oral examination (50 - 0): A 100 - 90, B 89.99 - 84, C 83.99 - 77, D 76.99 - 73, E 72.99 - 70, FX 69.99 - 30, F 29.99 - 0.
A full-time student is required to meet the mandatory 70% attendance in contact classes, i.e. everything except lectures. If attendance is not met, the student will automatically be graded "-"
- Language of instruction
- Czech
- Further comments (probably available only in Czech)
- The course is taught annually.
- Teacher's information
- Participation in all forms of teaching is dealt with in a separate internal standard of the VŠTE (Recording of student attendance at the VŠTE). Students with an Individual Study Plan (ISP) are obliged to contact the lecturer no later than in the first week of the semester or immediately after its approval with a request to arrange the system of teaching and completion of the course, in case the student fails to do so, his/her ISP will not be taken into account. In case of any questions, students can contact the "Valuation" Group Leader via email krulicky@mail.vstecb.cz
In the course NZ_OCP_1 - Business Valuation I, the student will create a mock valuation report (hereinafter referred to as "CZP 1"). CZP 1 will meet the requirements of the ZP according to Act No. 254/2020 Coll., and Decree No. 503/2020 Coll.
CZP 1 will contain at least the following subject areas.- Strategic analysis of the enterprise (min. 3 analyses)
- Strategic analysis of the sector (min. 3 analyses)
- Financial analysis of the company (min. 3 years back)
- Comprehensive business assessment methods (min. 3 methods)
- Analysis of value generators
- Basic financial plan (min. 3 years)
- Determination of cost of equity (min. 1 method)
- Income business valuation (min. 1 method)
- Enrolment Statistics (winter 2022, recent)
- Permalink: https://is.vstecb.cz/course/vste/winter2022/NZ_OCP_1