The course begins with a presentation of the situations in which a valuation is necessary, which highlight the relevance of the topic. The conceptual discussion concentrates on the discounted cash flow method (APV, WACC and FTE), while also introducing risk-neutral valuation procedures. Relevant surpluses and cost of capital are derived and the robustness of the methods is checked - depending on the assumed financing strategy and taking into account taxes. In addition, we consider the valuation with multipliers, which is quite popular in practice. Real-world transactions illustrate the application of the methods.

Latest information on the Business Valuation course can be found on the learning platform ILIAS.