CWA ICWA Final : Group IV - Business Valuation Management

ICWAICWA ICWA (2008)FinalSyllabus 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

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