Course detail

Rating and Valuation

FP-FropPAAcad. year: 2020/2021

Content of the course is to present students models of reliability assessment and business approaches to determining the value of the company. To familiarize students with the procedures for determining the value of the company. Focus on strategic analysis of the company, particularly in terms of identification of value drivers. Practice methods of making financial plan and create a model for PC. Present and apply methods for determining the value of the company.

Learning outcomes of the course unit

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.

Prerequisites

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

Co-requisites

Not applicable.

Recommended optional programme components

Not applicable.

Recommended or required reading

MAŘÍKOVÁ, P. a MAŘÍK, M. Diskontní míra pro výnosové oceňování podniku. 1. vyd. Praha: VŠE a IOM, 2007. ISBN 978-80-245-1242-6
MAŘÍK, M. a kol. Metody oceňování podniku:proces ocenění,základní metody a postupy.2011, 494 s.. Praha: Ekopress, ISBN 978-8086929-67-5.
JUREČKA, J. Oceňování ochranné známky jako součásti nehmotného majetku. 2. přepr. vyd. Praha: VŠE a IOM, 2007. ISBN 978-80-245-1303-4
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
VINŠ, P. a LIŠKA, V. Rating. Praha: C.H.Beck, 2005. ISBN 80-7179-807-X.
ŠANTRŮČEK, J. Pohledávky, jejich cese a hodnota. 2. aktualizované vyd. Praha: Oeconomia, 2005. ISBN 80-245-0873-7
DAMODARAN, A. Damodaran on valuation: security analysis for investment and corporate finance. 2 Ed. Hoboken: John Wiley & Sons. 2006. ISBN 0-471-75121-9
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.
DAMODARAN, A. Investment valuation: tools and techniques for determining the value of any asset. 2 Ed. New York: John Wiley & Sons. 2002. ISBN 0471414883

Planned learning activities and teaching methods

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.

Assesment methods and criteria linked to learning outcomes

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

Language of instruction

Czech

Work placements

Not applicable.

Course curriculum

1. Investment and business rating. Models of determining the solvency of a company.
2. Credit Rating agencies. Methodological approach to determining the rating.
3. Definition the value of a company, reasons for valuation.
4. Methods of determining the value of a company.
5. Strategic analysis for determining the value of a company.
6. Financial plan for determining the value of a company.
7. Discount rate for determining the value of a company.
8. EVA model.
9. Valuation of specific businesses
10. Valutation of concern.

Aims

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.

Specification of controlled education, way of implementation and compensation for absences

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

Type of course unit

 

Lecture

20 hours, optionally

Teacher / Lecturer

Guided consultation in combined form of studies

16 hours, optionally

Teacher / Lecturer

Exercise

20 hours, compulsory

Teacher / Lecturer