This course will provide participants with the basic tools for approaching a business valuation. Whether they are assessing the reasonability of a transaction (e.g. a market transaction or a tax initiated process) or providing advice on a potential transaction, this course will provide candidates with the basic knowledge of what to look for, and where to be cautious. It will also provide candidates with a means of triangulating valuation conclusions in order to cross-check preliminary findings. The course utilizes a detailed case study that builds upon itself for each module that allows for practical application.

Topics include:
• overview and application of valuation methodologies, including income approaches, market approaches, and asset approaches 
• CCF and DCF valuation techniques and their application
• the calculation of maintainable earnings
• the determination of capitalization and discount rates
• a comparison of enterprise value and equity value
• market valuation approaches using equity value and enterprise value multiples 

Learning Objectives
By the end of this course, participants should be able to:
• Assess when to value the assets of a company individually versus when to value an enterprise as a whole.
• Create a bridge between enterprise value and equity value, including the impacts of redundant assets and debt-like items, as part of a valuation exercise.
• Calculate the cost of capital for a company, including: cost of equity, cost of debt and weighted average cost of capital, when formulating discount rates.
• Ascertain relevance between a subject company to value, comparable public companies and precedent transactions when triangulating value in a secondary approach.
• Utilize the basics concepts of specific valuation standards in a mock valuation engagement.

Prerequisite Knowledge
None

Applicable for:
While this seminar may be useful for any finance professional, the course targets the following professionals: 
• Professionals in industry and practitioners with minimal business valuation experience 
• Executives, such as Controllers, CFOs, and Finance Directors, who seek an understanding of business valuations either for financial/tax reporting or for mergers and acquisitions 
• Public practice professionals working in audit or tax and looking to increase or refresh their specialized knowledge set

What to Expect
• An email will be sent from CPA Manitoba to the participant within two business days of registration. The email will include information on how to access the course along with the necessary login credentials. 
• Once sent, the email will also be found in your Account Communication tab of the 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 the user to save their progress and return to continue later.

Registration is for this course is open until March 31, 2024 and should be completed by August 31, 2024, after this time, access to the course will no longer be available.

To receive a certificate, participants must complete a quiz at the end of the course. Unlimited quiz attempts are available until the passing grade of 70% or better is achieved. After this you will no longer have access to the quiz.