Company Evaluation

Course objective is the acquisition of theoretical-analytical and applied knowledge in the field of finance that provide theoretical background and practical basis for the application of methods for evaluating companies and preparation of evaluation reports.

Upon completion of this course, students will be able to:
• estimate balance sheet, profit and loss account and calculate cash flows;
• determine the discount rate and the residual value;
• yield-based evaluation method;
• apply a value multiplier to assess the company value;
• assesthe financial position using the net asset method.

Theoretical training
• The role of the appraiser in evaluating the company;
• Methodological basics of company evaluation;
• Yield-based evaluation methods;
• Market-based evaluation methods;
• Cost-based evaluation methods;
• Results of company evaluation.
Practical training
• Сase studies.
• • Application of certain methods for company evaluation.

Познанић, В., & Цвијановић, Ј. (2011). Методи вредновања предузећа. Београд: Економски институт.

Coopeland, T., еt al. (2010). Valuation: Measuring and Managing the Value of Companies. third edition. McKinsey & Company inc.

Дамодаран, А. (2010). Дамодаран о валуацији: анализа вриједносница за инвестицијске и корпоративне финанције. Загреб: Мате: Загребачка школа економије и менаџмента.

Stowe, J. D., Robinson, T. R., Pinto, J. E., & McLeavey, D. W. (2007). Equity Asset Valuation. New Jersey: John Wiley & Sons.

Илић, Г., & Стевановић, Н., (1994). Процена вредности предузећа – принципи и методе. Београд: Савез рачуновођа и ревизора Србије.

Theoretical training accompanied by case studies and real-life examples from professional practice.

Assessment (maximum number of points 100)
Exam Requirements	65 points	Final exam	35 points
Attendance	5	Written exam
Ongoing assessment	40	Oral exam
Class participation	10
Practice:individual case study making	10

 

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Practice classes

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