The art of estimating the value of a company: industry specifics - course 39,000 rubles. from HSE, training 5 days, Date November 10, 2023.
Miscellaneous / / December 06, 2023
Each business is individual, so determining its price is an art. To estimate the value of an enterprise, three things are needed: financial management methods, working with information and valuation. In the DPO course, you will learn to independently assess the investment and market value of various projects and predict the dynamics of assets and liabilities.
During the training, you will gain knowledge about the algorithms of modern techniques, learn to adapt them to a specific business sector and build an individual scenario for the development of the situation.
Benefits of the program
01
Aimed at transferring experience in using both classical cost estimation methods and alternative ones, and even express assessments, which are needed in different situations
02
Allows you to understand not only the differences between international and Russian approaches to cost assessment, but also industry specifics
03
Involves experts who carry best assessment practices in various industries
04
Teaches ways to skillfully construct assessment analytics
Learning outcomes
- MASTER
methods for estimating the value of business and assets, as well as ways to create scenarios and analyze the sensitivity of the valuation project, taking into account the technical capabilities of Excel - LEARN
determine input parameters and prerequisites: macroeconomic, sectoral and project - BUILD
Calculate the value of a conditional business using different methods and work out the choice of the final valuation - YOU WILL BECOME
a sought-after specialist and will be able to professionally manage the cost of your business, taking into account industry specifics
Training format
Total duration in hours
32 hours
Admission conditions
The program is intended for persons receiving or having higher or secondary vocational education
Training format
Online
Composition of the group
Standard group size 8 people
Language of instruction
Russian
Composition of classes
Lectures, practical classes
Final work
Final project
Composition of classes
36% - online classes with leading experts 20% - practical classes, cases and workshops 44% - independent work
1
wellGeneral Director of the assessment and consulting group "AORA"
Candidate of Economic Sciences, Master of Economics from the University of Paris-I Sorbonne, has more than 15 years of practical work in evaluation. Participated in dozens of projects to assess the cost of capital, including the largest banks of the Russian Federation, JSC Alfa-Bank and MTS-Bank (formerly MBRD).
In 5 days of advanced training, using examples of cases from financial management practice, you will study the discounted cash method flows (DCF), a comparative approach to company valuation, including in different industries, market and investment value and others Aspects. The course content includes topics:
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How to value a company using the discounted cash flow (DCF) method? Mini-case discussion
Understand how the discounted cash flow (DCF) technique is useful in analyzing key parameters of business value and valuing shares, taking into account the time factor and the company's financial flow
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Comparative approach to assessing the value of a company
You will learn how to correctly use the comparative approach, form an assessment of the value of an organization through multipliers of financial indicators, and also manage budgetary risks.
- The place of comparative assessment in the classification of approaches, comparison with the income approach
- Applicability of comparative assessment
- Selecting the numerator and denominator of the multiplier
- Income statement indicators used to calculate multipliers (P/S, EV/EBITDA, P/E, P/DIV, etc.)
- Types of indicators based on asset value
- Relationship between balance sheet multipliers and profitability multipliers
- Main types and applicability of natural indicators
- Multiples used to value high-growth companies
- Selection of analogues. Country risk factor, capitalization value, industry risk, etc.
- Various methods for calculating multipliers
- Basic errors when estimating multipliers
- Mini-case discussion
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Valuation of companies in various industries
You will understand the variety of business sectors and approaches to forecasting project development scenarios, determining asset prices, discount rates and other aspects.
- Specifics of valuation of companies in the telecommunications industry: features of forecasting, discount rate, comparative approach
- Specifics of valuation of transport companies (using the example of a railway carrier): asset/business valuation, forecasting features, discount rate
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Market and investment value. Cases by industry
Consolidate your knowledge. The final section of the applied program of additional professional education, which is aimed at studying market and investment value through practical cases in specific industries: mining, agricultural industry, real estate and hotel business, media and others.
- Market and investment value
- Assessment according to FSO/MSO
- Case: Mining: license for a coal deposit
- Case: Media and TV content. Business and rights library
- Case: Agro-industrial companies and biological assets: features of the use of DCF and multipliers
- Case: Real estate and hotel business
- Case: Valuation of a venture fund / management company
- Final case: Application of methods for assessing the value of a company
- Errors of appraisers: questions and answers