Valuation in a Changing World: Tools and Techniques to Make Profitable Business Decisions.pdf

Valuation in a Changing World: Tools and Techniques to Make Profitable Business Decisions.pdf


MICHAEL G. VASILOU (Chicago, IL)is Senior Professor of Finance and Accounting at DeVry University and Keller Graduate School of Business. He holds an MBA from the University of Chicago and a law degree from DePaul University, and has served as a pension administrator for a boutique firm serving small to mid-sized businesses. He has presented to national meetings of the American Accounting Association, and is a member of the United States China Chamber of Commerce.

Introduction to Valuation Theoretical Framework Net Present Value Application of NPV: Valuation of Bonds Application of NPV: Valuation of Stock Finding r: Weighted Average Cost of Capital Using r: Capital Asset Pricing Model Other models: Internal Rate of Return, Payback, Modified IRR NPV Revisited: Calculating Cash Flows Free Cash Flow Analyzing the Cash Flow Statement Using Comparables Application of Comparables: Real Estate Application of Comparables: Valuing Business Segments International Considerations What is IFRS, and how does (or will) it change valuation calculations? Other Global Issues The concise, easy-to-understand, and exceptionally usable guide to valuation for all business professionals and students.

Master valuation - painlessly! Now, there's a hands-on valuation tutorial that's concise, easy to understand, and above all, easy to use. Valuation in a Changing World illuminates the entire valuation process with simple mathematical examples and a start-to-finish case study. Michael G. Vasilou establishes a firm theoretical basis for valuation, offers a complete framework for performing accurate valuations, and presents practical accounting-style examples designed to be exceptionally intuitive. His clear explanations and simple examples illuminate NPV in valuing bonds and stock; calculating r; Weighted Cost of Capital; Capital Asset Pricing Models; IRR, Payback, and Modified IRR; cash flow analysis; comparables; and international considerations, including IFRS. Bringing even more clarity to key concepts, Vasilou also provides annotated Excel spreadsheets demonstrating how important valuation calculations are derived. This is the ideal valuation guide for all business professionals, accountants, and students who want to understand valuation but may not be experts in corporate finance. It will be especially valuable to non-finance decision-makers involved in acquisitions, mergers, or divestments.


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