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| Oh, say can you see? Influencing Equity Value Assessments (1437Q) |
Course CPE: 1 hour
Field(s) of Study: Finance–1 hr
Program Level: Advanced
Prerequisites: Good knowledge of topic and experience in the field. Advanced level programs are often appropriate for seasoned professionals within organizations; however, they may also be beneficial for other professionals with specialized knowledge in a subject area.
Advanced Preparation: None
Delivery Method: QAS Self-Study
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Item
Number: 20BV0619OSCY1
Shipping Weight: 0lbs. 0oz. |
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$99.00 |
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Recording Date: June 19, 2020
Presenter: Carl Sheeler
Program Description:
A fundamental premise of valuation is to capture the behavior(s) of the notional pool of investors as of a given point of time and purpose. Does contemporary business valuation methodology and assumptions reasonably reflect these behaviors?
A simple example might be the conclusion of value is $10 million for a 20% equity interest. So, who is this notional investor? How many are there willing and able under modern portfolio theory (asset allocation) to consummate this transaction? Is this investor going to be active or passive? What is the "central tendency" of price multiples/rates under derived from the various transactions assumed under the Market and Income Approaches? What constitutes an outlier and when is its selection substantiated like Tesla vs. GM?
After completing this course, attendees will be able to:
- Identify the steps to perform a deeper due diligence and analytics to bolster assumptions that can be more rigorously qualified and quantified
- Identify how to differentiate from primarily financial capital driven valuation elements such as Free Cash Flow and Growth with more focus on price multiple factors like "human capital" such as risk management; how responsive to opportunities is management; what is the nature of key relationships; etc.?
- Identify how much does the level, type, cost, and availability of debt capital used (or not) by Subject and comparative companies influence the selected price multiple and conversely how financially sophisticated is ownership and management in accessing equity funding
- Identify when and by how much written/oral agreements can have an influence on
For more information regarding refund or concerns, please contact our offices at (800) 677-2009.
The Consultants’ Training Institute (CTI) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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