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DRPS : Course Catalogue : Business School : Common Courses (Management School)

Postgraduate Course: Financial Valuation (CMSE11403)

Course Outline
SchoolBusiness School CollegeCollege of Arts, Humanities and Social Sciences
Credit level (Normal year taken)SCQF Level 11 (Postgraduate) AvailabilityNot available to visiting students
SCQF Credits10 ECTS Credits5
SummaryThe course provides an overview of the valuation of financial assets in the Information age. It is organised in four parts. It first introduces the concept of measurement and how accounting information is used to assess the value of financial instruments. It then distinguishes between relative and absolute methods to determine the value of financial assets. Moving on it delves into a range of tools and techniques. Finally, it covers the role of information and its effect on the dynamic relationship among assets and attitudes and behaviour towards valuation.
Course description Outline Content
Below are some of the issues that the course covers, these are not specific lecture titles:

The foundations of financial value
Approaches to financial valuation
Data for financial valuation
Discounted cash flow valuation
Narrative and numbers: connecting stories to financial value
Relative financial valuation
Multiples and their right use
Asset based and liquidation value
The value of 'financial' information in the information age
Contingent value

The learning outcomes will be achieved by the information provided in lectures, by the exercises solved in computer-based tutorials, reviewing the bibliographical references and working on individual assignments and group projects.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Co-requisites
Prohibited Combinations Other requirements None
Course Delivery Information
Academic year 2019/20, Not available to visiting students (SS1) Quota:  None
Course Start Semester 1
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 100 ( Lecture Hours 20, Seminar/Tutorial Hours 9, Summative Assessment Hours 1, Programme Level Learning and Teaching Hours 2, Directed Learning and Independent Learning Hours 68 )
Assessment (Further Info) Written Exam 40 %, Coursework 40 %, Practical Exam 20 %
Additional Information (Assessment) Written Examination (Individual) - 40%
Report (Group) - 40%
Presentation (Group) - 20%
Feedback All students will be given at least one formative feedback or feedforward event (individually or as part of a group) for the assessment component in the course in time to be useful in the completion of the summative coursework.

Feedback on formative assessed work will be provided within 15 working days of submission, or in time to be of use in subsequent assessments within the course, whichever is sooner. Summative marks will be returned on a published timetable, which will be made clear to students at the start of the course.

Summative feedback will comprise individual feedback on the course assessment.
Exam Information
Exam Diet Paper Name Hours & Minutes
Main Exam Diet S1 (December)1:00
Learning Outcomes
On completion of this course, the student will be able to:
  1. Understand the objectives and the main characteristics of the foundations of financial value
  2. Understand and critically assess the results of financial valuation
  3. Understand and critically discuss the implications for financial valuation in the żinformation eraż
  4. Understand and critically discuss the objectives and the main characteristics of contingent valuation
  5. Decide the most suitable valuation technique vis-à-vis the characteristics of the data and the investment objective, and critically evaluate the limitations of the techniques used in financial evaluation
Reading List
Core textbooks:
Tim Koller, Marc Goedhart, David Wessels. Valuation: Measuring and Managing the Value of Companies (Wiley Finance) 6th Edition

Aswath Damodaran. Investment Valuation: Tools and Techniques for Determining the Value of any Asset, University Edition 3rd Edition

Additional Information
Graduate Attributes and Skills Applied knowledge, skills and understanding
On completion of the course a student should be able to:
-Use a range of specialised skills, techniques, practices and/or materials

Cognitive Skills
On completion of the course a student should be able to:
-Perform quantitative analyses in accordance with the type of data used
-Plan and execute a significant project of empirical research or investigation

Subject Specific Skills
After completing this course, students should be able to:
-use a range of techniques to determine the value of a financial asset
-interpret and value financial news
-use quantitative and qualitative information to value investment opportunities
-include and consider information relative to 'contingent' assets or circumstances
KeywordsNot entered
Course organiserDr Abhishek Srivastav
Tel: (0131 6)51 1067
Course secretaryMiss Yvonne Stewart
Tel: (0131 6)51 5333
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