Course detail
Property Valuation
ÚSI-2FCOMAcad. year: 2011/2012
The subject deals with basic concepts of assets valuation, especially in businesses. During the course are briefly outlined the procedures for evaluating according to both Europe and Czech accounting standards. A substantial part of the course is devoted to yield methods of business evaluation, methods of market comparison and also to property methods. At the end of the semester, students will be acquainted with the actual procedure for evaluation of the company, especially with the strategic and financial analysis during evaluation and also with the method of value generator and with financial planning.
The subject provides students with a brief introduction to the methods of valuation of assets and enterprises. Students will learn to use evaluation methods and approaches in the current evaluating practice and learn to use chosen methods for the evaluation.
Language of instruction
Number of ECTS credits
Mode of study
Guarantor
Department
Learning outcomes of the course unit
Prerequisites
Co-requisites
Planned learning activities and teaching methods
Assesment methods and criteria linked to learning outcomes
– Credit is given to the student after achieving at least 75 points out of the total possible number of 150 points.
- For getting the credit, the student must complete a final test, which is rated up to 100 points.
- For acquiring the credit, the student is required to present selected topics in seminars (presentation is rated up to 50 points, in the absence of the student 0 points).
For award of the credit the student must fulfil both conditions and obtain at least 50% of the total number of points.
Evaluation from the seminar makes 50% of the test.
Scoring of the seminar:
150 – 136 points A
135 – 121 points B
120 – 106 points C
105 – 91 points D
90 – 75 points E
less than 74 points F
TEST:
– Written test
– Oral examination
Course curriculum
2. Legal Aspects of Property Evaluation – Act no. 151/1997 on property evaluation, decree from MF no. 540/2002 implementing some provisions of the Act no. 151/1997 on the evaluation of assets, communication from MF ref. no. 162/38 024/1999 and communication from MF dated February 27th, 2001.
3. Evaluation standards in the EU and approaches in the Czech Republic. Evaluation of assets under Czech accounting standards.
4. Evaluation of assets under Czech accounting standards.
5. Time factor and risks during evaluation, the discount rate in evaluation.
6. Company evaluation – the proceeding during the company evaluation.
7. Financial analysis, strategic analysis.
8. Financial plan, value generators.
9. Yield methods of business evaluation (DCF, capitalized net incomes, EVA)
10. Evaluation according to method of market comparison.
11. Evaluation based on the assets analysis.
12. The aggregate evaluation of the company.
13. Summary and conclusion
Work placements
Aims
At the same time, students will be familiarized with the procedures for evaluation of assets and company. In the framework of company evaluation there will be briefly outlined the issues of strategic and financial analysis and financial plan, a method of value generators. A partial aim will be risks identification during evaluation and their interpretation during application of the evaluation methods.
Specification of controlled education, way of implementation and compensation for absences
Recommended optional programme components
Prerequisites and corequisites
Basic literature
MAŘÍK, M. A KOL.: Metody oceňování podniku - proces ocenění, základní metody a postupy. 1.vyd. Praha: EKOPRESS, 2003. 402s. ISBN80-86119-57-2.
MAŘÍK M., MAŘÍKOVÁ ,P.: Moderní metody hodnocení výkonnosti a oceňování podniku. 2.vyd. Praha: EKOPRESS, 2005.163 s.ISBN 80-86119-61-0.
SVATOŠOVÁ, J., TRÁVNÍČKOVÁ,J.: Účtová osnova, České účetní standardy. 1.vyd. Zlín: ANAG,2005. 319s. ISBN 80-7263-312-0.
Recommended reading
Classification of course in study plans