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Lecturer(s)
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Kislingerová Eva, prof. Ing. CSc.
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Šmejkal Antonín, Ing. Ph.D.
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Course content
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Lecture topics: 1. Basics for company valuation 2. Time and risk factor 3. Procedure for company valuation - strategic analysis 4. Procedure for company valuation - analysis of financial health 5. Discount rate estimation methods, valuation based on revenue analysis - discounted cash flow method 6. Valuation based on income analysis - methods of capitalized net income and EVA 7. Methods based on market analysis - relative valuation 8. Determining the value of the enterprise as a whole 9. Valuation of a business with a limited perspective 10. Valuation of the concern 11. Valuation abroad, international and European valuation standards Exercises: 1. Introduction to business valuation, the time factor 2. Risk factor, basic legal regulations regarding valuation 3. Business valuation procedures - calculations 4. Methods of estimating the discount rate - calculations 5. Valuation of individual types of property 6. Analysis of valuation methods 7. Determining the value of the enterprise
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Learning activities and teaching methods
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Monologic (reading, lecture, briefing)
- Preparation for credit
- 14 hours per semester
- Preparation for exam
- 56 hours per semester
- Preparation for classes
- 28 hours per semester
- Class attendance
- 14 hours per semester
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Learning outcomes
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The aim of the course is to inform students with modern methods for the valuation of the enterprise. Emphasis will be placed on the link between the purpose of the valuation and the choice of the appropriate method. The basic methodological approaches to the valuation of the company will be gradually explained, the basic valuation procedure will be clarified and, last but not least, the synthesis of the valuation results. The subject also includes a warning about standardization of valuation enshrined by international organizations. An integral part of the teaching is exercises within which basic materiel will be practiced.
Students understand the basic principles of evaluation of enterprise property and company.
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Prerequisites
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There is no prerequisite for the course of Company and property valuation.
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Assessment methods and criteria
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Oral examination, Combined exam
Credit Requirements: Active participation in seminars. Examination Requirements: Written tests and oral part of exam.
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Recommended literature
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European Valuation Standards (EVS). 2020. ISBN 9789081906043.
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Zákon č. 237/2020 Sb. Zákon, kterým se mění zákon č. 151/1997 Sb., o oceňování majetku a o změně některých zákonů (zákon o oceňování majetku), ve znění pozdějších předpisů, a další související zákony. Praha, 2021.
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Zákon č. 254/2019 Sb. Zákon o znalcích, znaleckých kancelářích a znaleckých ústavech. Praha, 2021.
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Damodaran, A. Dark Side of Valuation. New York, 2019. ISBN 9780134854106.
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Mařík, M. a kol. Metody oceňování podniku. (4. vydání). Praha, 2018. ISBN 978-80-87865-38-5.
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