CWA ICWA Final : Group IV - Business Valuation Management

ICWAI • CWA ICWA (2008) • Final • Syllabus and Books • Group IV - Business Valuation Management

ICWA :: Final
Paper 18 : Business Valuation Management
[One paper: Three Hours – 100 marks]

Objective . . .

•To gain knowledge in different techniques of valuation of assets and liabilities
•To understand the legal implications of merger and acquisitions
1.Valuation Basis10%
•Principles and techniques of valuation
•Asset valuation.
•Earnings valuation
•Cash flow valuation.
•Other valuation basis
•Efficient market hypothesis
•Impact of changing capital structure on the market value of the company
•Priorities of different stakeholders in terms of business valuation.
2.Valuation of Mergers and Acquisitions20%
•Assets and cash flows
•The strengths and weaknesses of various valuation method
•Recognition of the interest of various stakeholders
•Selection of appropriate cost of capital for valuation
•Synergistic benefits
•Forms of consideration and terms of acquisitions
•Post merger integration process
•Implications of regulations for business combinations
•Types of exit strategies and their implications.
3.Valuation of Assets and Liabilities40%
•Forms of intellectual property and methods of valuation
•Valuation of fixed assets
•Valuation of inventories
•Valuation of investments
•Valuation of shares
•Dividend growth valuation models
•MM theory
•Valuation of options
•Valuation of intangibles
•Human resource accounting
•Valuation of goodwill, patents and copyrights
•Valuation of brands
•Valuation of real estate
•Relevant accounting standards.
4.Case studies30%

Recommended Books

TitleAuthorPublisher
Investment Valution-Tools and Techniques for Techniques for Determining the value of any asset Aswath DomodaranJohn Wiley & Sons. Inc.
Valuation: Measuring and Managing the value of CompaniesThomas E.CopelandWiley
Business Analysis and Valuation: Using Financial Statements Text and Cases Krishna G.Palupu, Paul M.Healy&VictorL.Bernard South-Western Pub.
The Handbook of Advanced Business ValuationRovert.F.Reilly & Robert P.SchweihsMcGraw Hill College Div.
Corporate Finance: A Valuation ApproachO.H.Sarig & S.Z.BenningaIrwin McGraw Hill
Fundamentals of Investments Valuation and ManagementCharles J.Corrado(Ed)McGraw Hill College Div.
Valuation Work Book: Step-by-Step Exercise and Tests to Help your Master Valuation Tom Copeland, Tim koller Jack Murrin and William Foote John Wiley & Sons
Practical Share ValuationNigel A.Eastaway, Herry Booth & Keith Eamer Butterworths
Guide to Takeover & MergersN.R.Sridharan & P.H.Arvindh Pandian Wadhwa and Company
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