Business Valuations - Intermediate Web Series

SME Valuations - how to apply the most current valuation methods & data

Recorded 30 July, 5 August & 13 August 2019

Ind - Recording Series

Upskill - beyond basic business valuations
Case study approach to the key valuation challenges
Practical & real world application

So, you’ve got a bit of valuations knowledge and might have completed a few valuations. Were you confident with the outcomes and are you sure your approach covered all of the issues?

This webinar series focuses on the typical SME valuation issues.

Using a case study approach we look at a typical earnings based valuation and then pull it apart.  From working out the capitalisation rate, the maintainable earnings, identifying surplus assets, differentiating between equity & enterprise value, assessing minority discounts or control premiums, valuing different share classes and considering franking credits and tax losses – no stone is left unturned. And, we provide sample documentation for you to follow.

Presented by Greg Hayes, author of A Practical Guide to Business Valuations for SMEs (Wolters Kluwer), these hands-on sessions assist in building on valuation expertise and experience.

Best for accountants and advisers with the basics of valuation knowledge who are seeking to upskill. 

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Ind - Recording Series
Off - Recording Series

What we cover

Web 1

Earnings based valuations – calculating maintainable earnings & how to arrive at the capitalisation rate

The majority of SME valuations are likely to be earnings based valuations. The key to getting these valuations right is in arriving at an appropriate maintainable earnings figure and assessing the risk profile of the business to arrive at a supportable capitalization rate. Using a case study approach we will work through to these two areas using a process designed to produce a reliable outcome.

The session includes:

  • The process to move from net profit to maintainable earnings
  • How to regularise and normalise earnings
  • 3 methods to arrive at a capitalisation rate
  • How to test outcomes for reasonableness
  • Applying benchmarks to arrive at a capitalisation rate
  • Assessing for the existence of surplus assets 

Web 2

Differentiating between enterprise & equity valuations, and how to apply minority discounts or control premiums

Every valuation will be either enterprise or equity based. This session focuses on how to differentiate between the two. We look at when to apply each approach, the differences in work procedures and also matters that need to be covered in your valuation report. For equity valuations we also look at when you should consider minority discounts and control premiums.

This webinar covers:

  • Differentiating between enterprise and equity valuations
  • When to use each approach and how to calculate the value
  • When to apply a minority discounts and how to calculate the discount
  • When to apply a control premium and how to calculate the premium
  • Documentation requirements to support your position

Web 3

Equity valuations – when the valuation of the business is not enough

Equity valuations will often require additional valuation procedures to produce a complete valuation outcome. This can be caused by the existence of different share classes on issue, the existence of tax losses in the business or surplus franking credits. This session will help you to identify where additional work is required and the valuation procedures that you will need to complete.

This session takes you through:

  • How to value different share classes
  • When share class valuations are likely to be required
  • The danger of ignoring share class values
  • Advice you can provide to clients now to avoid major problems in the future
  • Valuation of tax losses
  • Valuing franking credits 

Greg Hayes

Director, Hayes Knight

Greg is a Director of Hayes Knight in Sydney and the author of A Practical Guide to Business Valuations for SMEs (Wolters Kluwer).

He brings a wealth of practical experience to this one day training program and will provide you with the knowledge and tools to assist you.

Day to day, Greg heads Hayes Knight’s specialist corporate finance team in Sydney, assisting clients with a myriad of tax, structuring and valuation issues. He has completed hundreds of business valuations and been called on as an expert witness in valuation cases.

A familiar face on the training circuit, Greg is singled out for his practical approach and ability to make complex issues understandable. He frequently develops and presents training programs on tax, superannuation, practice management, and specialist consulting topics.

Greg Hayes
Greg Hayes
Director, Hayes Knight

Register

Individual Series

$500 Member
$600 Non-member

Office Series*

$890 Member
$990 Non-member

 *The office rate applies per office location (maximum 10 participants per office location). The PD points for all attendees will be recognised.

How to access the recording

  1. Knowledge Shop members, access your discounted pricing by logging into the Knowledge Shop member website and registering. More on membership.
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    • Register and we will contact you to organise login details for your nominated staff members (generally within 24 - 48 hours).
    • You can also nominate a supervisor from your firm who will be able to see who has completed the webinar and where applicable, their quiz scores.
  4. Your recording will be available for 3 months from the date of purchase and can be viewed as many times as the registered person likes within those 3 months. Once watched, your PD hours will be recorded on the personal profile of the participant. 

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