What Will You Learn?

Unlike the traditional model of enrolling in specific topic courses, of which parts are outdated or irrelevant to the needs of specialists, FUSE built a program that trains future valuation professionals from a practitioner’s point of view, without sacrificing the rigor of theoretical underpinnings, by integrating relevant portions of larger topics and simulating the workings of valuation firms by leveraging current software and databases. 

Certification

Because the level of the first valuation report meets the organizational requirements, upon successful completion of the first Semester (two terms) of the program, students will receive the credential of Business Certified Appraiser (BCA) from the International Society of Business Appraisers (ISBA), a U.S. Small Business Administration “qualified source” to conduct small business appraisals.*

* Business credentials are trademarks of their respective organizations. The specific requirements and fees associated with these designations are available through the issuing organizations. FUSE cannot guarantee passage of any of these exams and individual students should prepare independently before attempting the assessments. 

In this semester, graduate students will delve into specialized valuation principles applied to industries like health care, professional services, and divorce cases. The course provides an analysis of the macro economy as a complex system, exploring how macroeconomic factors and domestic policies impact business conditions for both large and small firms. Lessons incorporate various forms of macroeconomic modeling, forecasting, and scenario planning. The curriculum also covers the valuation of complex financial instruments, offering students a solid foundation on derivatives such as options, swaps, futures, and forwards, along with insights into pricing and valuation. Focused topics include calculus, regression analysis, continuous-time mathematics, and multivariate analysis in their practical applications.

In this semester, graduate students will explore the relationship between taxation and the valuation of business interests, covering standards of valuation, various methods, and the application of discounts and premiums. Emphasis is placed on family limited partnerships, estate planning, and corporation transactions, as well as alternative investments like real estate, hedge funds, commodities, private equity, and structured products. The course begins with the Market Approach, addressing the calculation and selection of multiples, and discusses discounts and premiums. It also covers mechanics of financial analysis, business valuation, and real estate appraisal report writing, focusing on improving written reports by addressing writing challenges, styles, critical thinking, argument analysis, logical fallacies, and quality assurance practices.