The course on company valuation is held by Dr. Francis Goddard, Senior Manager at EY Luxembourg, and takes place in blocked form. The course therefore has a high practical relevance and optimally complements the courses offered in the Major 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 ill be covered, among others:

A. Introduction to company valuation

• Valuation occasions
• Accounting standards
• Valuation guidelines
• General principles of valuation

B. Company analysis

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

C. Capitalization rate

• Prime rate
• Risk premium
• Cost of debt
• 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 09:00h to 15:00h.
• The exact dates will be announced on a timely basis.
• Participants must be present on site, in particular during the last session.
• 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.