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Training Course Summary:

Introduction to Valuation
What is its purpose?
Stock selection, acquisition or flotation?

Generic Choices for Valuation Techniques
Accounting methods
Cashflow methods
Net asset value

Net Asset Value
Use and misuse of this technique
Treatment of assets and liabilities
Pitfalls to beware of

Accounting Methods
Comparative analysis of companies
Comparative analysis of transactions
Factors in the selection of comparable companies
Information gathering and analysis
Price-earnings ratios
Correct calculation of earnings per share
Enterprise Value ratios and calculations
Other important ratio applications
Latest trends in the markets
Advantages and disadvantages of the different ratios
Information gathering and analysis
Arriving at equity values

Case Study: "Project Water"
Participants model a case study to value a company using comparable company analysis techniques. Participants will be required to interpret data and produce a valuation based upon PER methodology and Enterprise Value methodology

Who Should Attend:

This seminar considers the different techniques that are used to value smaller private companies, focussing on the application of multiples and the review of the assets of a business to arrive at an appropriate valuation. The difficulties encountered when valuing small companies and how they are overcome are also addressed.