Pre-requisite: This course requires knowledge of income appraisal, including both capitalization rates and discounted cash flow techniques. Prior completion of an applicable income appraisal course is recommended (e.g., BUSI 331 or CPD 131 and CPD 152).
This course explores business valuation as a related appraisal discipline. The course outlines common reasons that business valuations are required and introduces the principles and techniques applied in valuing a business. The lessons emphasize both asset-based and cash flow- based valuations, reflecting the similarities and differences for liquidation scenarios and going concern businesses. The application of these theories and principles will be illustrated in a series of case studies, both in the lesson and on the course website.
The course is applicable to anyone with an interest in learning more about how businesses are valued. It is particularly relevant for real estate professionals, such as appraisers or brokers, who may come across business value issues in their real estate practice, and need a better understanding of how to account for these issues.Please note that the course is intended only as a brief introduction to this vast area of practice. Students who wish to know more about this subject, or perhaps are considering specializing in this field, are encouraged to pursue further resources beyond the course – the course website provides many links to additional readings and information sources.
Please note that CPD 101 does not focus solely on hotel valuation or property tax assessment. The issues related to "business enterprise valuation" for these contexts are touched upon briefly in this course, but are not explored in depth.
FOREWORD: Introduction to Professional Development Courses
LESSON 1: Business Valuation Fundamentals
LESSON 2: Business Valuation Applications
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