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Reference: http://www.nacva.com/content.asp?contentid=145
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| Section | Weight | Objectives |
|---|---|---|
| Foundations of Business Valuation | 15% | - Financial statement analysis and normalization - Economic and industry analysis - Valuation standards, definitions, and premises of value |
| Asset-Based / Cost Approach | 15% | - Excess earnings method - Tangible and intangible asset valuation - Net asset value calculation |
| Income Approach to Valuation | 30% | - Terminal value and growth assumptions - Capitalization and discounting methods - Cash flow estimation and risk assessment |
| Professional Standards, Ethics, and Reporting | 7% | - NACVA Code of Ethics and professional standards - Valuation report requirements and compliance |
| Market Approach to Valuation | 25% | - Valuation multiples and comparability adjustments - Guideline public company method - Merger and acquisition transaction method |
| Adjustments, Discounts, and Premiums | 8% | - Control premiums and minority interest discounts - Marketability and liquidity discounts |
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