The old valuations out of WACC – Calculating the cost of capital post-GFC
(Run by Australian Centre for Financial Studies)
Date: Wednesday 27th October 2010
Time: 1.30pm – 5.30pm
Venue: Queens Loft, 133 Queensbridge Street, Southbank adjacent to Crown Casino
FTA Members and Congress delegates $264.00
Attention FTA members and FTA Congress delegates.
The workshop will take place immediately prior to the Welcome Drinks marking the commencement of the 2010 Finance and Treasury Association Congress. On application, FTA Members & FTA Congress delegates receive the ACFS Corporate Sponsor and Supporter rate.
The Program
Techniques such as Weighted Average Cost of Capital (WACC) are commonly used by:
- corporations -to help determine the optimal balance sheet mix of debt versus equity,
- regulators -to set an appropriate required rate of return on capital invested in regulated industries, and
- fund managers -to assist investment decision-making in company shares and discrete projects.
Both the theoretical foundations and practical application of WACC and associated techniques such as CAPM (Capital Asset Pricing Model) have long been matters of debate. Post-GFC, these questions are not merely academic but central to investment decisions and, often, project viability.
Delegates to this workshop will:
- Be exposed to various forms of WACC and changes to risk premia
- Learn what is happening in debt markets and implications for the cost of debt
- Understand estimates of MRP and assess the cost of equity using CAPM
- Appreciate the impact of imputation tax on WACC
- Be shown the uses of WACC for corporate decision making
- Hear from an experienced panel of practitioners
For the Full Program - CLICK HERE