The course on company valuation is held by Dr. Francis Goddard, Senior Manager at EY Luxembourg, and takes place in block form. The course therefore has a high practical relevance and optimally complements the courses offered in the Master's specialization in Financial Management and Accounting.

In particular, students who successfully complete the course will be able to...

• understand and apply different valuation methods.
• carry out in-depth company analyses.
• evaluate companies using common methods.

To this end, the following topics are covered:

A. Introduction to company valuation

• Reasons for valuation
• Accounting standards
• Valuation guidelines
• General valuation principles
   

B. Company analysis

• Economic fundamentals (company, industry and general economic conditions)
• Analysis of the net assets and financial position
• Analysis of the earnings situation
• Adjustment of historical figures

C. Capitalization rate

• Base interest rate
• Risk premium
• Borrowing costs
• Growth discount
• WACC

D. Valuation methods

• Income capitalization approach and discounted cash flow method
• Comparative market valuation
• Liquidation and net asset value

E. Case study

Key data:

Important:

• This course is held in German.
• The course does not take place weekly, but on four dates from 09:00 to 15:00.
• The exact dates will be announced shortly.
• Participants must be present on site on the last date.
• The examination consists of working on and presenting a case study and a short multiple-choice test.
• The access code for the Olat course will be announced at the kick-off event.