Valuation for Accountants

This course explores the basics of business valuation. The objective of this course is to provide students with valuation methods from both a conceptual and practical framework. We will discuss the drivers of corporate value, cover financial analysis using data from the annual report, and build an integrated valuation model using discounted cash flow (DCF). We will also discuss alternatives to DCF valuation, comparables analysis and options.

The course is based on Finance and Accounting. It is related to Foretaksfinans, Videregående finansregnskap og regnskapsteori, and Årsregnskap, but these are not the prerequisite for taking the course.

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By the end of this course, a successful learner should be able to:

• Understand and be able to apply basic tools to company, using discounted cash flow models and other commonly used methods.
• Upon review of a company's financial statements be able to prepare a basic valuation report.

Learning approaches include lectures, in-class problem solving, class discussions, and group work.

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The final grade will be determined a portfolio of case reports (50%) and a final case report (50%). You are expected to work with a group of 3-5 students and write case reports of maximum 6 pages. The final report can be maximum 10 pages.

A list of reference aids allowed will be published on our website.

Grade scale A-F

The final group report will be evaluated by both internal and external graders.