Corporate Finance: valuation
Abstract and keywords
Abstract (English):
This tutorial is devoted to the practical application of the theory learned by the student, the textbooks in corporate Finance. Elaborate and carefully understand the main topics associated with the valuation from the examination of the accounts before rating to approaches to assessment. Describes only the new and relevant in modern appraisal practice, technique calculations, ways of solving today's problems. Demonstrates the practical implementation of the theory of valuation in the specific calculations carried out with the use of modern and fashionable information and analytical systems, Bloomberg and Thomson Reuters. Computational problem is provided with screen shots with information systems the description of algorithms of obtaining of the information. Used keiso - oriented method of learning, when the student is "immersed" in a real situation with actual industry problems and seeking solution to the problems together with the author of the textbook. Reveal mistakes and incorrect methods accompanying the practical application of the evaluation algorithms that are well-established in practice. Picked up company, illustrating examples of application of the theory of valuation, to be of real interest to the market leaders. Algorithms for calculation of complex theoretical issues shown in the demo with a simple and ready numeric data. In the assignments the student for independent work is proposed to consolidate, already getting the actual numbers from the information systems or from open sources: websites of stock exchanges, brokerage companies, inserting them in the proposed Pro forma calculations. Of great interest this tutorial will call and appraisers specializing in the valuation of businesses in connection with what is now new appraisers pass a professional qualification exam. Previous methodological base is already outdated. New realities, new tools, new ways to customize evaluation tools are widely included in the practice, but, unfortunately, have not found wide descriptions in the academic literature. This Handbook solves this problem and will help evaluators to improve their skills to take new professional heights.

Keywords:
corporate Finance, valuation, valuation of a business, the sales comparison approach, income approach, discounted cash flow, multiplier, evaluation method of residual yield, discount rate
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References

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