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Vykázání neuznaných nehmotných aktiv v rozvaze: rizika a přínos
Dobrotková, Kamila ; Zelenka, Vladimír (advisor) ; Svačina, Pavel (referee)
The aim of this thesis is to analyse the research area of omitted intangible assets from the balance sheet and consider rewards of their potential recognition in the statement of financial position. The theoretical part provides the reader with the current regulation in force and compares it to the regulation prior the standardization and convergence process. The empirical part focuses on valuation of equity of three companies from the pharmaceutical industry based on the model pursued by American professor Stephen Penman. The values obtained are subsequently compared to market prices which are believed to reflect also the possession of omitted intangible assets. Differences identified speak in favour of potential recognition, however these are believed to be marginal comparing to probable inherent risks, which include, inter alia, stock market run-ups and earnings management.
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Business evaluation of Pivovar ZUBR a.s.
Vasilišin, Ľubomír ; Brabenec, Tomáš (advisor) ; Pucci, Slavomír (referee)
The aim of this Master's thesis is to evaluate the market value of the Zubr Brewery a.s., to the 1.1.2014. The main method selected for estimating the value of the company is discounted cash-flows for creditors and owners, also known as DCF entity. The early chapters are dedicated to making financial and strategic analysis of the company and of its competitors. After confirmation of going concern, the generators are defined and financial plan is executed, which serves as the key of the valuation using the income methods. The final value of the company is complemented by the valuation using book value method and multiples. In the end, the chapter deals with deferred tax liability and its possible use in the planning of forecast of the company.
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Valuation
Berglerová, Lucie ; Kislingerová, Eva (advisor) ; Klečka, Jiří (referee)
The Master's Thesis aims to analyze and evaluate the Vitana company at 31st December, 2013. The thesis is divided into parts that correspond with the valuation process. First of all the Vitana company is described. The valuation starts with a strategic analysis where strengths and weaknesses, market development, industry, economy and competition are identified. This is followed by a financial analysis that explains the past of the Vitana company. To determine the value of the company it is necessary to define generators of value and make their prognosis. After that the financial plan is drawn up. Determining the value is accomplished by using three valuation methods: valuation by using DFCFF, valuation by using EVA and book value.
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Business Valuation of engineering company HTP s.r.o.
Bartoničková, Jitka ; Jurečka, Jan (advisor) ; Lustigová, Marcela (referee)
The aim of the diploma thesis is to estimate the objectivised value of the Czech engineering company HTP s.r.o. based on the same concept up to 1. 1. 2011. Valuation is performed using discounted cash flow (DCF equity) with limited lifetime and book value method. The work includes financial analysis, strategic analysis, analysis and prognosis value generators, financial plan and final valuation.
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Merger of companies (Domestic and Cross-border), accounting treatment
Fialová, Michala ; Vomáčková, Hana (advisor) ; Vomáčková, Lenka (referee)
The Graduation Theses is targeted at mergers of business Companies and its accounting aspects. The Theses solve mergers from the business - legal point of view (regulating in Act. No. 125/2008 Coll, Transformation of Business Companies and Cooperatives), and also from accounting point of view (from IAS/IFRS) as well from the czech accounting law Accounting Act, Regulation 500/2002 Coll, CAS). A separate chapter is devoted to practical real case of a merger of two limited liability companies.
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Estimating a value of the Firm Vodovody a kanalizace Beroun, a.s.
Šebová, Magdalena ; Scholleová, Hana (advisor) ; Krause, Josef (referee)
The aim of this diploma thesis is to estimate the value of the water supply company Vodovody a kanalizace Beroun a.s. on the date 30. 4. 2011 by using the yield method of DCF. The value is assessed for a potential investor in order of purchase. The thesis is divided into a theoretical part defining the basic theoretical background of valuation and a practical part, which primarily consists of a strategic analysis, a financial analysis and a financial plan.
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The valuation of the company
Blažková, Lucie ; Scholleová, Hana (advisor) ; Čámská, Dagmar (referee)
This thesis deals with the estimate of the value of the building company HOCHTIEF CZ a. s. The text is divided into two parts -- theoretical and practical ones. The theoretical part, which is a prefiguration of the practical one, sets as a goal making readers familiar with basic terms, instruments and procedures for setting the value of the company. The practical part follows up with the application of described methods in the company HOCHTIEF CZ. The main goal of the practical part is to determine the value of the company on August 22, 2011 for the purchase of an unknown investor. As used instruments and methods are worth referring to strategic and financial analyses, as well as the methods of financial planning. The appropriate appraisal is done by the revenue method DFCFF and book value method.
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Valuation of the company Continental Teves Czech Republic, Ltd
Holý, Pavel ; Doláková, Helena (advisor) ; Scholleová, Hana (referee)
There are many moments in a company life, where we need to find out the firm's value from different reasons. It is possible to proceed by several methods. Firstly, I deal in theory with the valuation procedure of the firm and with selected methods of firm valuation. I apply the depicted theoretical apparat in the next part of this thesis. I assess the value of the firm Continental Teves Czech Republic, Ltd on the date of 16th of December 2009 according to the methods of which application, based on completed situation and financial analyses, indicated to be the best one. The chosen method has to correspond to the aim of valuation. The aim of this thesis is valuation of the equity. The revenue method of discounted cash flow to the equity was chosen for this purpose. I also valuate the firm according to the method of book value so that I can decide whether the methods are appropriate or not. The result of my work is partly the factual valuation of the firm, partly the determination of advantages and disadvantages of the both methods and the appointment, which one to use in specific situation.
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Valuation of Rodinný pivovar BERNARD
Borecká, Kateřina ; Kislingerová, Eva (advisor) ; Kolářová, Blanka (referee)
The goal of thesis is market value determination of Rodinný pivovar BERNARD for owners. Theoretic part describes categories of value and the basic methods for valuation. Practical part contains strategic and financial analysis, financial plan and valuation. For valuation was applied DCF method(FCFF), book value and market comparison method.
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