BV201 Introduction to Business Valuation - Market Approach

General Information

This OnDemand course provides students with convenient 24-7 online access to instructional modules via "My ASA Courses" immediately following registration. 

This course consists of:

• Narrated instructional modules;
• Downloadable course handout materials (PDF);
• Class assignments and exercises; and
• Practice tests.

Printed or hard copies are not provided to ASA OnDemand course registrants. Once the course OnDemand course and downloadable materials have been accessed, the course is no longer refundable.

The course and final exam must be completed within 90 days of purchase. The option to request an additional 90 day extension at education@appraisers.org is available (non-refundable fee is applicable). At any point throughout the duration of this OnDemand course, the student has the option to go back and log in to repeat and/or review any of the modules and/or practice tests. 

ASA-accredited members (AM, ASA, FASA) who would like to attend this class will receive a 50% discount. This discount will be automatically applied at checkout.

The final exam is multiple choice and securely administered online and remotely proctored. Additional final exam instructions will be provided within the course. 

Description

BV201 is the first course in the Principles of Valuation (POV) course series. This course will introduce practitioners to the steps necessary to complete a valuation assignment and will provide an overview of how to apply the Market Approach . More specifically, the course will provide a Guideline for Public Company and Merger and Acquisition Methods. Additionally, the course will review:

• Introduction to Business Valuation, Business Valuation Theory and a general overview of the Market Approach;
• Defining the Appraisal Assignment;
• Data Gathering;
• Revenue Ruling 59-60;
• Engagement Assignments;
• Data, Company and Industry Analysis;
• Economic and Financial Statement Analysis;
• GPC Steps 1, 3, 4, 7, 8 and 9 Covering Guideline Search Selection;
• Normalizing Financial Statements;
• Calculating Selecting Multiples;
• Adjusting and Applying Multiples and Reconciliation;
• The Merger and Acquisition Method; and
• Rules of Thumb and Other Market Methods.

Instructional Methods

Methods include narrated instructional modules, class assignments/exercises and practice tests.  

Course Audience

BV201 is one of four Principles of Valuation (POV) courses required for those seeking a credential with ASA.  In addition, this course is of interest to accountants, attorneys, business brokers, investment bankers, Internal Revenue Service staff and the appraisal community at large who are involved and/or interested in the valuation of businesses.

Learning Level 

Fundamental 

Continuing Education and Contact Hours

28.8 ASA CE Instructional Hours and 3 Exam Hours | CPE hours are not awarded for this offering.

Upon completion of this course, students will be able to:

• Cite the basic approaches and theories to business valuation;
• Identify the relevant standards under which business valuations are completed;
• Define an appraisal assignment;
• Gather useful data necessary to complete the assignment;
• Analyze the impact of the general economic, political and industry environments on the subject company (and in turn, value);
• Complete a company analysis of qualitative and quantitative factors that impact value;
• Describe the premise of the Market Approach;
• Define both the Guideline Public Company Methods and the Merger and Acquisition Method;
• Assess the applicability of different Market Approach methods to a specific assignment;
• Compare and adjust guideline public company multiples;
• Apply the guideline public company and merger acquisition methods; and 
• Reconcile to an indication of value.