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| DCF Equity vs. DCF Invested Capital: Which is Preferred? (1527Q) |
Course CPE: 2 hours
Field(s) of Study: Finance–2 hrs
Program Level: Intermediate
Prerequisites: Previous training or research on subject matter being taught. Such persons are often at a mid-level within the organization, with operational and/or supervisory responsibilities.
Advanced Preparation: None
Delivery Method: QAS Self-Study
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Item
Number: 21BV0624DCF
Shipping Weight: 0lbs. 0oz. |
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$147.00 |
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Recording Date: June 24, 2021
Presenter: Kevin Couillard and Richard Goeldner
Program Description:
Many appraisers have their favorite DCF method, while others use both the equity and invested capital methods in the same engagement. In this session, we explore the subtle and not so subtle differences between these methods, whether there is a preferred method, what causes the value conclusion to differ between these methods, and reconciling conclusions from both methods.
Which method is preferred or does it matter? What causes the equity value conclusions to differ between the two methods? Should the appraisal purpose impact the method selected? How financial structure and leverage impacts each method? How do systemic changes to the business model impact each method? Can these methods complement each other?
After completing this course, you will be able to:
- Identify the key causes for the equity value conclusions to differ between the two methods
- Determine the impact of financial leverage on both methods
- Differentiate between the primary assumptions influencing the conclusion from each method
- Recognize how financial structure impacts each method
- Select the most appropriate method
- Recognize how systemic changes to the business model impact each method
- Identify debt levels used in each method
- Determine and utilize both methods in the same engagement
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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