Date and cost of the workshop
- Duration: 2 days = 16 teaching hours (1 teaching hour = 45 minutes)
- Date: 22-23 June 2020, 9 a.m. to 4 p.m.
- Price: PLN 1600 (gross - rate exempt from VAT)
- Price with discount for Kozminski University graduates: PLN 1440 (gross - rate exempt from VAT)
Business valuation is used for the purposes of investment, M&A or as part of internal measures of financial management. It is extensively applied when companies issue new shares, divest operations or acquire other companies. This highly practical workshop will lead you quickly from the basics through to the more advanced valuation methodologies and modeling techniques.
This workshop is aimed at those with basic financial background who wish to explore more aspects of business valuation methodologies, including:
- Equity research professionals / Equity analysts
- Financial Controllers,
- M&A professionals
- Private Equity & Venture Capital specialists,
- Portfolio managers-corporate restructuring,
- Commercial and investment bankers,
- Securities analysts,
- Investment officers,
- Corporate treasurers,
- Business analysts,
- Consultants / Business advisors
Marek Panfil, Ph.D.
- is an experienced instructor in the Department of Finance at Kozminski University, the Head of the Continuing Studies Business Valuation and Financial Modelling.
- Marek is passionate about teaching and doing business valuation
- He has over twenty years of business experience, including two years at KGHM International Ltd. (mining) in Vancouver on a position of Internal Audit Manager, two years as a Manager at Ernst & Young (EY) Vancouver (Transaction Advisory Service, Valuation and Business Modeling), six years as a Non-Executive Director / Chief of Audit Committee at KGHM Polska Miedź SA (top 10 world producer of copper and silver) in Warsaw / Lubin and as a value-based management advisor to many entrepreneurs.
- His research interests include business and intangible assets valuation, entrepreneurial finance (including business angels, venture capital, mezzanine, management and leverage buyout), value-based management, and capital budgeting. He published many works about business and intangible assets valuation and private equity/venture capital (seven books and 20 articles) published in Polish, English, and Chinese.
- Marek has taught Entrepreneurial Finance EMBA course at SFU Beedie School of Business in Vancouver, Canada (2017), and Corporate Finance course at VanWest College in Vancouver (2018).
- He has participated in several trainings and development programs for academics, including Case Study Workshop at IESE Business School (2010). In 2012 he was a visiting scholar at NYU Stern School of Business.
- Marek successfully completed Chartered Business Valuation (CBV) Level I (Introduction to Valuation), Level II (Intermediate Business Valuation), Level III (Advanced Business Valuation), Level IV (Special Topics in Valuation), Valuation for Financial reporting, and Corporate Finance. He gained proficiency in the Canadian context of business valuation and litigation support.
- He co-authored Poland’s first comprehensive statement of the principles for business valuation for the Polish Federation of Associations Property Appraisers (April 2011);
Paweł Mielcarz, Ph.D.
- is a professor at Kozminski University in Warsaw, where he is the Head of the Department of Finance, the Substantive Coordinator of MBA studies for Financiers and postgraduate financial studies. While working at the University, he was also the deputy director of the College of Management and Finance, where he was responsible for the development of financial studies conducted in English.
- As a consultant, he took part in several hundred consulting projects and training sessions in the field of broadly understood corporate finances. As a court expert, he also prepared expert opinions in court, prosecutor's and arbitration proceedings and those conducted by the Polish Financial Supervision Authority. In his professional career, Professor Mielcarz was a member of several supervisory boards of companies.
- In his scientific work, he mainly deals with issues of enterprise value management, company valuation, projects and real options. He is the author or co-author of several dozen scientific articles and two books. Professor Mielcarz has taught at several European business universities and permanently cooperates with ESSCA - School of Management. He completed, among others, Global Colloquium on Participant - Centered Learning and Case Study Workshop programs organized by Harvard Business School.
- Dealing with standards of value, valuation models and techniques
- Understanding business models
- Income-based valuation methods DCF (FCFF, FCFE), Capitalized Mainainable Earnings and Capitalized Maintainable Cash Flow
- Developing an appropriate cost of capital
- Using comparative valuation measures
- Valuing privately-held company and publicly-held corporation
- Valuation for the purpose of acquisition
- Optimization of the capital structure in the process of value creation
- Utilization of econometric models in business valuation
Benefits for You & CO.
After completion of the workshop you will be able to:
- understand the relationships between fundamental valuation and different valuation and investment strategies.
- value companies using several alternative fundamental valuation models
- apply valuation models in such a manner that is consistent with underlying theoretical conjectures.
- make consistent forecasts of financial statements.
- critically scrutinize and evaluate others’ forecasts of financial statements and others’ valuation of firms.