Introduction

Whether it’s managing a portfolio, preparing for an imminent merger or acquisition, or marvelling over the newest dollar figure attached to a tech wunderkind, valuation is the key to parsing and understanding the numbers. Emphasis is placed on learning valuation techniques and discussing examples of implementation from practice.

The Applied 1-day valuation program is to help finance executives, accountants, financial consultants, and investors learn applied business valuation techniques and practices that are needed to successfully implement valuation concepts in practice.

Applied techniques and implementation issues are addressed for key valuation steps such as cash flow forecasting, cost of capital and terminal value, and for emerging valuation areas for India such as technology and intellectual property (IP) valuation.

BENEFITS OF ATTENDING

The objective of the seminar is to provide the fundamentals of each approach to valuation, together with limitations and caveats on the use of each, as well as extended examples of the application of each.

• Get the inside track of cash flow forecasting
• Learn critical principles of valuation and their implementation
• Understand difference between valuation of Traditional vs Tech Start-ups
• Deep dive into Intellectual Property Valuation

WHO SHOULD ATTEND?

• Equity research professionals
• Corporate Financial Officers
• GM/VP/AVP/Manager M & A
• CFOs, Treasurers and Senior Finance Executives
• Executives of M&A Team
• Directors of Strategic Planning
• Commercial Bankers
• Portfolio Managers -Corporate Restructuring
• Fund Managers


Agenda

Session 1: Course Introduction; Valuation: The Big Picture

 • Introduction
 • Walk-through of an M&A example to illustrate the valuation methodologies and approaches used

Session 2: Estimating Cash Flows & Financial Statements; Estimating Growth

 • Cash flow forecasting basics
 • Forecasting revenue and income statement
 • Forecasting capital expenditures (capex) and other investment requirements
 • Cost of capital determination

Case study: - Cash Flow Forecasting & Valuation

Panel Discussion:

“Valuation in the Future Economy” - Rethinking Valuations in Dynamic Business Cycles

Session 3: IP Valuation, Stock Market Valuation & Alternative M&A transaction structures

 • What is different and special about tech company valuation
 • Valuation of intellectual property (IP)

Case study: - Tech company valuation in a recent financing round
Case study: - IP valuation in a recent M&A

Session 4: Valuation using value multipliers and comparable transactions

 • Why value multipliers work
 • How to relate value multipliers to DCF and other valuation approaches

Case study: Financial due diligence and accounting red flags analysis

Live Q&A Session:

Valuation: Looking Back & Looking Forward


Expert

Bala G. Dharan

Managing Director, Berkeley Research Group

Dr. Bala Dharan, Ph.D., CPA, is Robert B. and Candice J. Haas Visiting Professor at Harvard Law School and Visiting Professor at MIT Sloan School of Management. He is also a Managing Director at Berkeley Research Group, an international business and litigation consulting firm. Dr. Dharan has provided consulting and expert testimony on corporate finance, accounting and auditing, business valuation, and corporate governance issues. He has been invited three times to the United States Congress to testify on financial reporting issues, and has been a frequent invited speaker at various corporations and industry conferences. He has provided valuation and strategic consulting for several start-up businesses, and helped co-found a software technology business serving the banking industry.

Dr. Dharan is an award-winning teacher and has designed and taught dozens of corporate executive education offerings at Wharton School, Rice University, Indian School of Business, and other institutions. He has been a professor or visiting professor at leading global business schools, including MIT Sloan School of Management, University of California at Berkeley, Kellogg School of Management at Northwestern University, Indian School of Business, and Jones School of Management at Rice University. His research centers on the strategic use of financial information by managers and investors. He is a co- author of four textbooks.

Dr. Dharan is a Certified Public Accountant (USA) with ABV (Accredited in Business Valuation) and CFF (Certified in Financial Forensics) credentials. He has a B-Tech degree in chemical engineering from the Indian Institute of Technology, Madras, PGDM (MBA) from the Indian Institute of Management, Ahmedabad, and MS and Ph.D. degrees in accounting from Carnegie Mellon University, Pittsburgh.


Want to be part of it?

VCC Events opens up the avenues for participation. Join hands to be a part of India’s largest gathering of alternative investments leaders, industry stakeholders and Asia’s influential limited partners, general partners and marquee advisors. Your chance to actively participate and augment yourself as thought leaders.


Venue :

Mumbai

Date: 17 Jan 2019

Venue: Mumbai


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