This seminar dissects the basic approaches from Business Valuations – Fundamentals, so that practitioners can recognize the limitations of various valuation approaches, and provides information that will allow professionals to conduct supplementary analysis for a more robust conclusion of value. Participants will learn about topics such as cost of capital, terminal value quantification, synergy calculations, and valuation discounts. In addition, the seminar provides an introduction to the process of valuing securities other than common shares. Practical application of the concepts is provided by utilizing a detailed case study that extends into each module.

Applicable for:
While this seminar may be beneficial for accountants in various roles, it particularly targets the following attendees:

• Professionals who have some experience with business valuations and who seek a deeper understanding of the more complex issues surrounding valuations
• Practitioners who provide some business valuation advice to their clients
• Company executives involved in the purchase or sale of businesses

Prerequisites - Knowledge, Experience or Courses
It is recommended that participants taking this advanced seminar on business valuations have the following prerequisite knowledge:

• Business Valuations – Fundamentals
• Experience working with business valuations

Learning Objectives
By the end of this course, participants should be able to:

• Utilize the capital asset pricing model to interpret the biases inherent in unadjusted Beta as a result of capital structure and tax status of a reference company.
• Identify the factors that make a “comparable” company more or less comparable in the context of a business valuation and when to exclude certain companies from one’s analysis.
• Incorporate market conventions with respect to including business combination synergies within the valuation of a single company.

• Critique the use of (or assess the reasonability of) various valuation discounts. 

Content
The topics in this seminar include:

• complexities associated with DCF valuation methods, including how to calculate cost of capital (equity and debt), cash flow, and residual value assumptions
• valuation of a business using multiples
• valuation and buyer intent - strategic buyers versus financial buyers
• the identification of and valuation of synergies
• the application of valuation discounts, including minority interest, marketability, and key person discounts
• an introduction to valuation issues specific to other securities, such as preferred shares and convertible debentures
• a review of different valuation reports in Canada

Presented by PD Partner: CPA Pro

• Two emails will be sent from CPA Manitoba following your registration: one to confirm your order and one including information on how to access the course through your Learning Hub. 
• Once sent, these emails can also be found in the Communication tab of your CPA Manitoba Member Portal.
• This course is designed for participants to view while following along with the course material provided. 
• This self-study course allows you to save your progress and return to continue at a later date.  
• A certificate of completion can be provided.*  

Access to this course will be available for 180 days after registration. After this time, access to the course will no longer be available.

*To receive a certificate of completion, users must complete all course elements including a short quiz at the end of the course. Unlimited quiz attempts are available until a passing grade of 80% or better is achieved. After you have achieved 80% or better, you will no longer be able to access the quiz. 

CPA Manitoba PD Terms and Conditions