Participants will deepen their valuation skill set by tackling advanced topics that sharpen method selection, input calibration, and judgment spanning DCF complexities, terminal value, capital structure effects, synergies, and discounts. Participants will apply these concepts through case-based analysis, including securities beyond common shares, to produce robust, defensible conclusions of value.

• Professionals with some valuation experience seeking deeper, method-level rigor and stronger judgment on advanced issues. 
• Practitioners and executives involved in purchases/sales who need to evaluate models, inputs, synergies, and discounts with confidence.  

By the end of this course, participants should be able to: 

• Calibrate DCF analyses by selecting/defending discount and capitalization rates, modeling terminal value, and addressing tax-shield effects. 
• Evaluate “comparability” and refine market-method samples, excluding outliers and biasing factors to improve multiples and conclusions. 
• Distinguish strategic versus financial buyer perspectives, identify and value synergies appropriately, and separate stand-alone value from consideration paid. 
• Assess and critique valuation discounts (minority, marketability, key person, and others) with attention to evidence and context. 
• Outline valuation considerations for other securities (e.g., preferred shares, convertibles, options) and align reporting to common practice standards.  

Topics include: 

• DCF in depth: equity vs. enterprise perspective; unlevering/re-levering beta; WACC selection; cash-flow forecasting; residual value. 
• Buyer intent and deal context: strategic vs. financial purchasers, leverage effects, process dynamics, and asset-vs-share transactions. 
• Discounts and premiums: minority interests, lack of marketability, key-person, and other context-driven adjustments. 
• Other securities: preferreds (retractable/non-retractable), convertibles, restricted shares, and options—core valuation considerations. 
• Reporting: types of valuation reports, distinguishing features, and common pitfalls; applying professional judgment across industries. 
• Case studies to synthesize advanced methods and professional standards.  

Course Content Created: August 2023

Presenter

About This Product

On-Demand Courses by CPA PRO are either video recordings from live seminars, or video recordings produced specifically for the on-demand audience. Where available, accompanying materials such as handouts or course notes are included.On-demand courses are eligible for verifiable CPD hours upon successful completion, and a certificate will be made available for download for your records.

Note that some courses comprise both formal instruction and self-directed exercises. In such cases, participants must complete both components to claim full CPD hours, or must reduce their reported CPD hours accordingly.

Please note that not all on-demand courses include downloadable materials such as course notes or slides.

How to get started

After completing your purchase, go to mylms.bccpa.ca. Log in using your CPABC Online Services credentials. Click Go to Your Courses and Materials to access your Learning Center. Select your course title to begin.