Participants will build a practical foundation in business valuation, learning when and how to apply the asset, income, and market approaches and how to triangulate conclusions across methods. Participants will work through maintainable earnings and cash-flow analyses, select and defend capitalization/discount rates, and bridge enterprise value to equity value using realistic, case-based scenarios.

• Professionals in industry or public practice with limited valuation experience who need a practical, method-by-method primer. 
• Controllers, CFOs, finance leaders, and audit/tax practitioners seeking to understand valuation inputs, methods, and review techniques. 

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

• Distinguish among asset, income, and market approaches and select an appropriate method for a given purpose, standard of value, and valuation date. 
• Develop maintainable earnings and cash-flow measures and apply CCF and DCF techniques to estimate enterprise value. 
• Estimate the cost of capital (cost of equity, cost of debt, and WACC) and justify key inputs and assumptions. 
• Bridge enterprise value to equity value, incorporating redundant assets, debt-like items, and working-capital adjustments. 
• Use market evidence (public comparables and precedent transactions) to test reasonableness and triangulate valuation conclusions.  

Topics include: 

• Valuation workflow: scoping, standard of value, valuation date, business and industry understanding. 
• Approaches and methods: liquidation vs. going-concern; asset-based; income (CCF/DCF); market (equity and enterprise multiples). 
• Maintainable earnings/cash flows; treatment of tax shields; equity vs. enterprise perspective. 
• Cost of capital: discount vs. capitalization rates; estimating cost of equity and debt; WACC and capital structure considerations. 
• Market methods: selecting comparables, multiples, and adjustments; reasonableness checks and triangulation. 
• Reporting and practice: common pitfalls, research sources, and case-study debrief.  

Course Content Created: July 2023

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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.