Applied Business Valuation (AFCP860)

This unit will give students a taste of the range of assignments encountered in a career in valuations. The course will be equally useful for those who might commission or use valuations such as company directors, chief financial officers, company secretaries, corporate advisors and equity analysts. The course will equip students to value portfolio and controlling interests in both public and private companies. We will also examine the specific nuances of performing valuations for mergers and acquisitions vs independent expert's reports vs financial reporting vs taxation purposes. The course starts with an overview of the Australian and international standards and regulations that apply to valuations in Australia. We then examine the most common circumstances that give rise to the need for a valuation. Finally, we look at what is involved in giving expert evidence in court. The objective of this unit is to build on valuation skills from Corporate Finance, and present new theory in a practical way through discussion and analysis of case studies that represent real-life situations. Students will have access to S&P Capital IQ.

Learning Outcomes:

  1. Understand the regulatory and legal environment for undertaking valuations in Australia, and be able to assess the impact of these requirements in undertaking the full range of valuation assignments.
  2. Understand and critically evaluate specific valuation issues in a range of professional contexts, including Independent Expert’s Reports, Taxation and Financial Reporting applications.
  3. Ability to effectively prepare and communicate recommendations concerning a valuation assignment.
  4. Understand the key differences between valuation of publicly listed and private companies, and between portfolio and controlling interests.

Topics:

  1. Overview of Australian and International Standards and Regulations Affecting Valuations
  2. Valuing Private Companies vs Public Companies
  3. Valuing Portfolio Interests vs Controlling Interests
  4. Valuations for Mergers and Acquisitions
  5. Independent Expert's Reports
  6. Valuations for Financial Reporting
  7. Valuations for Taxation Purposes
  8. The Valuer as an Expert Witness

Prerequisite Units:

Lecturers:

Unit Guides:

  • Applied Business Valuation - The link will provide a list of guides for this unit. If the desired term/location is not listed, please view the latest one available.

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