Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
Building on the concepts taught in Business Valuations: Fundamentals, this seminar gives participants a more detailed insight into some of the more complex issues associated with business valuations.
This seminar dissects the basic approaches from Business Valuations: Fundamentals, so that practitioners can recognize the limitations of various valuation approaches, and provides information that will allow professionals to conduct supplementary analysis for a more robust conclusion of value. Participants will learn about topics such as cost of capital, terminal value quantification, synergy calculations, and valuation discounts. In addition, the seminar provides an introduction to the process of valuing securities other than common shares. Practical application of the concepts is provided by utilizing a detailed case study that extends into each module.
Topics Include:
- Utilize the capital asset pricing model to interpret the biases inherent in unadjusted Beta as a result of capital structure and tax status of a reference company.
- Identify the factors that make a "comparable" company more or less comparable in the context of a business valuation and when to exclude certain companies from one's analysis.
- Incorporate market conventions with respect to including business combination synergies within the valuation of a single company.
- Critique the use of (or assess the reasonability of) various valuation discounts.
- Complexities associated with DCF valuation methods, including how to calculate cost of capital (equity and debt), cash flow, and residual value assumptions
- Valuation of a business using multiples
- Valuation and buyer intent - strategic buyers versus financial buyers
- The identification of and valuation of synergies
- The application of valuation discounts, including minority interest, marketability, and key person discounts
- An introduction to valuation issues specific to other securities, such as preferred shares and convertible debentures
- A review of different valuation reports in Canada
NOTE: No updates or changes were made to the 2025 version of this course. If you completed the course in 2024, please be advised the 2025 course material has not changed. If you have any questions, please contact pdevents@cpaontario.ca.
Schedule
- September 17, 2026, 1:00 pm - 5:00 pm
- September 18, 2026, 1:00 pm - 5:00 pm
Who Will Benefit
It is recommended that participants taking this advanced seminar on business valuations have the following prerequisite knowledge: Business Valuations: Fundamentals course or equivalent experience working with business valuations.
Prerequisite(s)
It is recommended that participants attend Taxation of Domestic Trusts: Fundamentals before registering in this course, or have equivalent knowledge.
How to Access the Course
This course is delivered as a live webinar. To receive verifiable CPD hours, you must attend the session live. We recommend joining at least 5 minutes before the scheduled start time. For the best interactive experience, please use a computer equipped with a camera and microphone.
A reminder email with the Zoom link and course details will be sent two business days before the session. If you do not receive it, please check your spam or junk folder.
The same information, including any available materials, will also be posted in advance on our Blackboard LMS.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Melanie E. Russell, CPA, CA, CBV, CFE, CIM, CFF, ABV – her current practice focuses on business valuations, litigation support and dispute analysis, financial/forensic investigations, corporate finance and education. She has qualified as an expert witness in the areas of valuation, forensic accounting, income analyses and loss of income calculations in a number of cases in the Ontario Court of Justice, the Ontario Superior Court and the Federal Court of Canada. She has also acted as an accounting expert in arbitration, mediation and other alternative dispute resolution proceedings (e.g., collaborative family practice), and negotiated a number of buy/sell transactions. She has taught at various institutions, authored various articles and professional material, and has had a number of years marking, authoring and co-ordinating professional examinations including the CICBV Membership Qualifying Examination.