Start a conversation ↗

Description

Business Valuation: Normalising Accounts, Applying Methods and Concluding

Produce a defensible valuation range rather than a single figure that cannot be justified

  • 2 days — 14 h
  • In-person or virtual
  • Expert
  • Up to 6 participants

Valuing a company is too often reduced to applying a multiple found elsewhere. The accounts are not normalised, the forecast simply restates the owner's intentions without any consistency testing, and the move from enterprise value to equity value is made without a proper inventory of financial debt.

These two days cover the complete approach. Participants carry out the diagnostic work and the required normalisation adjustments, apply the asset-based, market comparable and discounted cash flow approaches, build a discount rate consistent with the target's risk profile, then compare the outcomes to arrive at a reasoned valuation range.

Learning objectives

  • Normalise the accounts to establish a sustainable earnings capacity
  • Build a business plan usable for discounted cash flow purposes
  • Apply the asset-based, market comparable and cash flow approaches
  • Determine a discount rate consistent with the target's risk profile
  • Move from enterprise value to equity value
  • Write a reasoned valuation report that withstands challenge

What makes this programme different

A complete valuation is carried out on a documented file, from diagnostic to final report
The methods are applied in parallel and then compared on their divergences
Business plan assumptions are challenged by the group and then defended

Programme

1Preliminary Diagnostic and Normalisation Adjustments

Making the accounts comparable

  • Strategic diagnostic and reading of the business model
  • Normalising owner remuneration and non-recurring charges
  • Treatment of non-operating assets and lease arrangements under IFRS
  • Determining a sustainable earnings capacity

2Asset-Based and Market Comparable Approaches

Valuing through assets and through the market

  • Adjusted net asset value and revaluation of balance sheet items
  • Treatment of commitments and contingent liabilities
  • Building a relevant sample of comparable companies
  • Selecting and applying valuation multiples

3Discounted Future Cash Flows

Valuing through expected returns

  • Building the business plan and testing the assumptions
  • Moving from earnings to free cash flow
  • Determining the discount rate and risk premiums
  • Calculating terminal value and testing sensitivity

4Synthesis, Valuation Range and Report

Concluding and defending

  • Comparing results and explaining divergences between methods
  • Moving from enterprise value to equity value
  • Customary discounts and premiums and when their use is appropriate
  • Structure of the valuation report and reservations to be stated

Who is it for

Chief financial officers and chartered accountants as well as mergers and acquisitions executives, financial analysts and business transfer advisers.

Prerequisites

Solid command of financial analysis and of building a financial forecast.

Dates & locations

36 scheduled dates between November 2026 and December 2027. Seats are confirmed in the order enquiries are received.

November 2026

December 2026

January 2027

February 2027

March 2027

April 2027

May 2027

June 2027

September 2027

October 2027

November 2027

December 2027

None of these dates suit you? We open additional sessions on request, and any programme can be run privately for your team.

Practical details

Before the programme
Online positioning questionnaire. Your development objectives are shared with the trainer, who tailors the practical case studies to your context.
Teaching methods
Theoretical input, workshops and practical case studies. Digital course materials and method sheets provided.
Assessment
Multiple-choice tests and role-play exercises. Assessment of learning at the start and end of the programme, with immediate and 60-day follow-up evaluations.
After the programme
One year of access to the e-learning platform. Self-assessment of the skills acquired and a 30-day follow-up session with your trainer.
How to register
Registration online or on the basis of a quotation.
Lead time
11 working days after confirmation of registration.
Accessibility
Accessible to people of determination. Contact our accessibility coordinator to design a suitable solution: contact@mpf-academy.ae
Start dates
Rolling intake: in addition to the scheduled sessions, this programme can start on request.