2016 Valuations - Seminar
Who Should Attend

CEOs, CFOs, financial managers, business development executives, financial analysts, corporate financiers, credit risk analysts, bankers, private equity investors, investment analysts and company directors.


Being able to value a company is an important skill in business, whether you are directly responsible for valuations or need to review the outputs from valuation experts. At some stage in your business career you will be required to value a business whether for a merger and acquisition transaction, a share buyback or for estate duty purposes. Valuations are often poorly performed in practice. Errors include technical inaccuracies and over-optimism in forecasting future profits and cash flows. The seminar will aim to highlight common errors and provide practical insights into how to minimise valuation errors. Real life examples will be used to reinforce learning during the day.

  • Discounted cash flow valuations
    • What risk free rate and market premium to use in a South African context?
    • Empirical evidence re beta coefficients
    • Forecasting future cash flows
    • Estimation of Continuing Value
    • Estimating WACC
    • Introducing the APV technique
    • Sensitivity analysis
  • Earnings based valuations
    • Adjustments to accounting earnings
    • PE or EBIT or EBITDA multiples?
    • Estimating a suitable multiple
  • Reasonability tests
  • Private company valuations
  • Marketability & minority discounts
  • Control premiums
  • Techniques to reach appropriate conclusions (IRR analysis and reverse engineering growth forecasts)
  • Reaching an appropriate conclusion re-value
08:00 Registration and refreshments
08:30 Seminar commences
10:30 Mid-morning refreshments
12:30 Lunch
13:30 Seminar continues
15:00 Afternoon refreshment break
16:30 Seminar concludes
Presenter: Greg Beech

Greg Beech CA(SA)
Greg provides merger and acquisition advisory services and has been in the industry for over 24 years. He recently co-authored Valuations, mergers & acquisitions, published by Oxford University Press in 2015. Greg received special recognition by SAICA at an awards dinner in April 2016 for his significant contribution to the professional education of chartered accountants in South Africa. He chairs the APC Examinations Committee of SAICA and is a member of the ITC Examinations Committee. Greg also teaches part-time at GIBS on mergers and acquisitions and also regularly presents on valuations, behavioural finance, finance for non-financial managers and financial modelling to corporate audiences.

Dates And Venues
Thu, 20 Oct Cape TownDouble Tree by Hilton HotelReserve a place
Tue, 25 Oct PretoriaDiep in die burgReserve a place
Thu, 27 OctJohannesburgSaica Office, IllovoReserve a place

This seminar counts towards a maximum of 6 hours of verifiable CPD. Please record your CPD hours on the CPD system via the SAICA website alternatively please bring your membership card to the seminar.

How To Enrol

Book Online: Please note that the 'Book Online' button is disabled as you will need to be logged in to register for the event.
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Username and password: If you are a SAICA member or a non-member having attended a SAICA event previously, you would automatically have been assigned a username and password. If you have forgotten your username, please call the SAICA Contact Centre for assistance.
Register as a website user: If you are not a SAICA member or have never attended a SAICA event, you will need to register as a new user on the website. Your login details will be emailed to you and after you have updated your details you will be able to register for the event.
Add multiple attendees: If you would like to add multiple attendees, you will be required to log in and have the ID numbers or SAICA membership numbers of the attendees you wish to register. If you enter an ID number that does not exist on the database, it is a quick process to register the delegate as a user first and then add them as an attendee.
Bill to company: If you would like your company to be billed for the event, please ensure that the 'Work Company' details under your profile are correct.

Investment / Fee
MemberR 3 400,00
Non-memberR 3 600,00
Terms And Conditions

Standard Terms and Conditions of Business

  1. Introduction
    These terms and conditions will apply to all bookings for a seminar or conference or workshop or webcast or similar event organised or to be organised by SAICA or any of its representatives and marketed as such ('Event'). All bookings will be subject to a confirmation by SAICA and once confirmation of a booking has been sent the booking will be confirmed.
  2. Bookings and Confirmations
    1. Bookings can only be done online. Once submitted such booking shall be deemed to be confirmed and as such, SAICA's payment and cancelation terms as set in clauses 3 and 5 below shall apply.
    2. SAICA shall generate and send a tax invoice to the booked delegate as further confirmation of the booking.
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  3. Payment and Refunds
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    1. The price of the Event will be the price displayed under the Fees section of the brochure. The price shall include Value Added Tax.
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    4. Payment shall be made by electronic funds transfer, or direct deposit to a bank account to be designated on the invoice, or by credit card payment using the payment facility on the SAICA website.
    5. Individuals shall not be entitled to receive a refund of the Event fee except in circumstances where -
      • there was an overbooking by SAICA;
      • or the Event was cancelled.
  4. Cooling-off Period
    All payments by means of an electronic transaction shall be subject to section 44 (Cooling-Off Period) of the Electronic Communications and Transactions Act No 25 of 2002, as amended. As such, individuals shall be entitled to cancel this agreement without reason or penalty within 7 (seven) days after the date of the booking.
    1. If the cooling-off period under clause 7.1 does not apply, and a person is a consumer protected by the Consumer Protection Act No 68 of 2008 and the person makes a booking as a result of direct marketing, then that person shall be entitled (under section 16 (Consumer's right to cooling-off period after direct marketing) of the Consumer Protection Act) to cancel this agreement within five (5) business days after the date of the booking by completing and sending to SAICA the notice attached hereto as Annexure A.
  5. Cancellations
    Individuals wishing to cancel a booking must send a written cancellation notice to the person whose name and contact details appear under the Contact Details section of the brochure. Telephonic cancellations will not be accepted.
    1. All cancellations received less than 8 (eight) calendar days prior to the date of the Event shall incur a cancellation fee of 50% (fifty) percent of the Event fee.
    2. Individuals who have booked for an Event but fail to cancel, or transfer (in accordance with 7 below) or substitute (in accordance with 6 below) a booking shall remain liable for the booking and as a result thereof forfeit the Event fee.
    3. No cancellation fee shall be levied by SAICA on cancellation of a booking for reasons of death or hospitalisation.
    4. Failure to cancel and/or not show up at a free event shall attract an administration fee of R250.
  6. Substitutions
    1. Individuals are entitled to substitute bookings that have been confirmed. Only written substitution requests will be considered. Telephonic requests for substitution will not be accepted.
    2. A request for substituting an individual for another must be submitted to SAICA in writing 24 (twenty four) hours before the date of the Event. No late substitution requests will be considered. Requests for substitution must be sent to the person whose name and contact details appear in the Contact Details section below.
    3. Non-members who substitute a member will be liable for the difference between the member Event fee and non-member Event fee.
  7. Transfers
    1. Requests for the transfer of a booking to a different Event venue or Event date or different Event ('Transfer') shall be made in writing to SAICA. Requests for Transfers must be made to the person whose name and contact details appear in the Contact Details section below. Telephonic transfers will not be accepted.
    2. No charges will be levied for a Transfer unless a request for a Transfer is received 15 (fifteen) working days after the first booking, in which case an administration fee of R300 (three hundred rand) shall be charged.
    3. Transfer requests received within 3 (three) working days prior to the Event date shall be subject to a charge amounting to 50% (fifty percent) of the Event fee.
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    To the extent allowed by law, SAICA shall not be liable to any person whatsoever in respect of any loss or damage caused by or arising from any fact or circumstance beyond the reasonable control of SAICA, or which is consequential or incidental or damage of whatever nature and howsoever arising from or in connection with any booking. To the extent allowed by law, SAICA's liability shall in any event and under all circumstances be limited to the refund of the Event fee.
Contact Details
Tel: 011 479 0635
Email: events@saica.co.za
Website: www.saica.co.za
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» Who Should Attend
» Overview
» Outline
» Programme
» Presenter: Greg Beech
» Duration
» Dates And Venues
» How To Enrol
» Investment / Fee
» Terms And Conditions
» Contact Details

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