N_OP Business Evaluation

University of Finance and Administration
Summer 2021
Extent and Intensity
0/2/0. 3 credit(s). Type of Completion: z (credit).
Teacher(s)
Ing. Jana Kotěšovcová, Ph.D. (lecturer)
Guaranteed by
Ing. Jana Kotěšovcová, Ph.D.
Department of Finance – Departments – University of Finance and Administration
Contact Person: Lenka Pokorná
Timetable of Seminar Groups
N_OP/cEKPH: each odd Tuesday 14:00–14:44 S11, each odd Tuesday 14:45–15:30 S11, J. Kotěšovcová
N_OP/cFPH: Tue 10:30–11:14 S14, Tue 11:15–12:00 S14, J. Kotěšovcová
N_OP/pEKPH: each even Tuesday 14:00–14:44 S11, each even Tuesday 14:45–15:30 S11, J. Kotěšovcová
N_OP/vEKKV: Fri 12. 2. 14:00–15:30 E129, 15:45–17:15 E129, Fri 26. 2. 14:00–15:30 E128, 15:45–17:15 E128, Fri 12. 3. 14:00–15:30 KV206, 15:45–17:15 KV206, J. Kotěšovcová
N_OP/vEKPH: Fri 5. 2. 14:00–15:30 E127, 15:45–17:15 E127, Fri 5. 3. 14:00–15:30 E128, 15:45–17:15 E128, Fri 9. 4. 14:00–15:30 E127, 15:45–17:15 E127, J. Kotěšovcová
Prerequisites
There are no prerequisites for this course.
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
Student after completing the course of business valuation can understand the concepts of business valuation, to distinguish the concepts of value and price. Will know the layout of the valuation methods, and basic business valuation. Students will understand the importance of the strategic analysis of award winning company, its financial health and can navrnout procedure for preparing the financial plan, the award-winning company. Can specify and quantify risk, find the risk-free rate of return, WACC - average cost of capital, the beta coefficient, the CAPM method to identify the risk premium from the capital market and analysis of risk factors. Students will be able to define and construct corresponding to different types of income-earning methods (free cash flow, EVA, capitalized net income).
Learning outcomes
Ability to calculate company value and ability to make fundamental analysis of stock (shares) of company.
Syllabus
  • 1) Definition of business valuation.
  • 2) Overview of categories and valuation methods.
  • 3) Strategic analysis of the company being valued.
  • 4) Evaluation of the financial health of the company.
  • 5) The estimate of future market potential for the company.
  • 6) financial plan.
  • 7) The concept and classes of risk, methods of determining risk premiums, weighted cost of capital.
  • 8) Construction of free cash flow, EVA, capitalized net returns.
  • 9) Separation of the non-operating assets and correction profit.
  • 10) Methods based on analysis of property /property methods/.
  • 11) Methods based on analysis of market /market valuation methods/.
  • 12) Final valuation, final statement and the synergy effect.
Literature
    required literature
  • Mařík Miloš, Metody oceňování podniku: proces ocenění - základní metody a postupy, Ekopress, Praha, 2011, 494 s. ISBN: 978-808-6929-675
  • Mařík M., Maříková P., Metody oceňování podniku pro pokročilé, Ekopress, 2011, 548 s. ISNB: 978-80-86929-80-4
    recommended literature
  • Krabec T., Oceňování podniku a standardy hodnoty, Grada, 2009, 180 s., ISBN: 978-247-2865-0
Teaching methods
For daily study - lectures, where students are introduced to the theoretical procedures of valuation, at seminars held presentation of seminar work students at a particular company valuation using income approach. Lectures an seminars in full-time study - participation is 75%. For distační Study - guided consultations with 75% participation.
Assessment methods
Credit - seminar work on the valuation of a particular enterprise by income approach, including its presentation. Credit is a summary of activities of students in lectures and exercises and resulting essay. Examination is writing - processing exam test. For distační Study - examination is writing - processing exam test.
Language of instruction
Czech
Further comments (probably available only in Czech)
The course can also be completed outside the examination period.
Information on the extent and intensity of the course: 12 hodin KS/semestr.
The course is also listed under the following terms Winter 2007, Summer 2008, Summer 2009, Summer 2010, Summer 2011, Winter 2011, summer 2012, Winter 2012, Summer 2013, Winter 2013, Summer 2014, Summer 2015, Summer 2016, Summer 2017, Summer 2018, Summer 2019, Summer 2020, Summer 2022, Summer 2023, Summer 2024, Summer 2025.
  • Enrolment Statistics (Summer 2021, recent)
  • Permalink: https://is.vsfs.cz/course/vsfs/summer2021/N_OP