Czech

6

Not applicable.

After completing the course, a student will be able to:
- differentiate between rating types and use the theoretical background for determining the solvency of a company,
- apply the basic models of determining the solvency of a company,
- to choose between methods of determining the value of a company in view of the purpose of the valuation.

The course may only be taken after completing the Financial Management cours.

Not applicable.

The course contains lectures that explain principles, decisions problems and methodology of the discipline, and exercises that promote the practical knowledge of the subject presented in the lectures.

The students will be graded according to the results of their work at workshops and of the final exam.

1. Investment and business rating. Rating companies. Models of determining the solvency of a company.
2. Methodological approach to determining the rating and value of a company.
3. Methods of determining the value of a company. Strategic analysis for determining the value of a company.
4. Disconted cash flow method. Financial plan for determining the value of a company. Discount rate for determining the value of a company.
5. Relative valuation and other methods.

Not applicable.

The aim is to provide a systematic view of the enterprise and factors of business value. Present methods of strategic analysis of the company that is starting a credit rating company. Systematically present methods of determining the value of the company and use their assumptions.

The students’ progress will be tested at the workshops. Missed lessons may be made up for as decided by the teacher leading the workshop.

Not applicable.

Not applicable.

DAMODARAN, A. Damodaran on valuation: security analysis for investment and corporate finance. 2 Ed. Hoboken: John Wiley & Sons. 2006. ISBN 0-471-75121-9 (EN)
DAMODARAN, A. Investment valuation: tools and techniques for determining the value of any asset. 2 Ed. New York: John Wiley & Sons. 2002. ISBN 0471414883 (EN)
McKINSEY & COMPANY, KOLLER, T., GOEDHART, M., WESSELS, D. (2005) Measuring and Managing th Value of Companies. 4th Editon (University Edition). New Jersey: Wiley. 742 p. ISBN 978-0-471-70221-4. (EN)
MAŘÍK, M. a kol. Metody oceňování podniku:proces ocenění,základní metody a postupy.2011, 494 s.. Praha: Ekopress, ISBN 978-8086929-67-5. (CS)
MAŘÍK, M. a kol. Metody oceňování podniku pro pokročilé: hlubší pohled na vybrané problémy. Praha: Ekopress, 2011. 548 s. ISBN 978-80-86929-80-4 (CS)
MAŘÍKOVÁ, P. a MAŘÍK, M. Diskontní míra pro výnosové oceňování podniku. 1. vyd. Praha: VŠE a IOM, 2007. ISBN 978-80-245-1242-6 (CS)
MAŘÍK, M. a MAŘÍKOVÁ, P. Moderní metody hodnocení výkonnosti a oceňování podniku. 2. přepr. a rozš. vyd., Praha: Ekopress. 492 s. ISBN 978-80-86929-32-3. (CS)
JUREČKA, J. Oceňování ochranné známky jako součásti nehmotného majetku. 2. přepr. vyd. Praha: VŠE a IOM, 2007. ISBN 978-80-245-1303-4 (CS)
ŠANTRŮČEK, J. Pohledávky, jejich cese a hodnota. 2. aktualizované vyd. Praha: Oeconomia, 2005. ISBN 80-245-0873-7 (CS)
VINŠ, P. a LIŠKA, V. Rating. Praha: C.H.Beck, 2005. ISBN 80-7179-807-X. (CS)

MAŘÍK, M. a kol. Metody oceňování podniku:proces ocenění,základní metody a postupy.2011, 494 s.. Praha: Ekopress, ISBN 978-8086929-67-5. (CS)
ŠANTRŮČEK, J. Pohledávky, jejich cese a hodnota. 2. aktualizované vyd. Praha: Oeconomia, 2005. ISBN 80-245-0873-7 (CS)

20 hours, compulsory

Procedure of deriving of a bankrupcy prediction models
A case study: A business valuation
- Strategic analysis of a company, identification of the company’s growth potential
- Financial analysis
- Value drivers and their prognosis
- Preliminary business valuation based on the value drivers
- Financial plan
- Business valuation based on the method of Discounted Cash Flow
- Conclusion and discussion