IBF315 Equity Instruments and Business Valuation
IBF315 Equity Instruments and Business Valuation
Syllabus | International University of Sarajevo - Last Update on Mar 03, 2026
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International Business and Finance
Edib Smolo
Course Lecturer
Course Objectives
The purpose of this course is to provide students with knowledge regarding the companies’ valuation models and valuations reports, and to be able to successfully apply the acquired skills in the capital market community.
Learning Outcomes
After successful completion of the course, the student will be able to:
Course Materials
Required Textbook
Koller, Tim (2015) Valuation: Measuring and Managing the Value of Companies. Wiley, McKinsey & Company.
Additional Literature
Sample valuation reportTeaching Methods
Weekly Topics
| Week | Topic | Readings / References |
|---|---|---|
| 1 | Introducion | |
| 2 | Why Value the Value | Chapter 1 |
| 3 | Shareholder vs Stakeholder model of Corp. Governance | Chapter 1 |
| 4 | Fundamental Principles of Value Creation | Chapter 2 |
| 5 | Fundamentals of valuation/Quiz 1 | Chapter 2 |
| 6 | Frameworks for Valuation | Chapter 8 |
| 7 | Midterm Exam | |
| 8 | Reorganizing the Financial Statements | Chapter 9 |
| 9 | Analyzing Performance | Chapter 10 |
| 10 | Forecasting Performance | Chapter 11 |
| 11 | Using Multiples/Quiz 2 | Chapter 16 |
| 12 | Valuation Techniques: Market Capitalisation and Times Revenue Method | Chapter 17 |
| 13 | Valuaiton Techniques: Earnings Multiplier, Disconted Cash Flow and Liquidation Value Method | Chapter 17 |
| 14 | Business Valuation Report - sample | Sample valuation report - case study |
| 15 | Project presentation |
Course Schedule (All Sections)
Office Hours & Room
| Day | Time | Office | Notes |
|---|---|---|---|
| Monday | 14:00 - 15:00 | IUS Campus |
Assessment Methods and Criteria
Assessment Components
Final Exam
AI: Not AllowedAlignment with Learning Outcomes :
IUS Grading System
| Grading Scale | IUS Grading System | IUS Coeff. | Letter (B&H) | Numerical (B&H) |
|---|---|---|---|---|
| 0 - 44 | F | 0 | F | 5 |
| 45 - 54 | E | 1 | ||
| 55 - 64 | C | 2 | E | 6 |
| 65 - 69 | C+ | 2.3 | D | 7 |
| 70 -74 | B- | 2.7 | ||
| 75 - 79 | B | 3 | C | 8 |
| 80 - 84 | B+ | 3.3 | ||
| 85 - 94 | A- | 3.7 | B | 9 |
| 95 - 100 | A | 4 | A | 10 |
Late Work Policy
Information about late submission policies will be shared during class and posted in this section. Please check back for official guidelines.
ECTS Credit Calculation
📚 Student Workload
This 6 ECTS credit course corresponds to 150 hours of total student workload, distributed as follows:
Lecture hours
45 hours ⏳ (15 week × 3 h)
Home study
30 hours ⏳ (15 week × 2 h)
Project
21 hours ⏳ (7 week × 3 h)
Quiz study
14 hours ⏳ (2 week × 7 h)
Mid term exam study
20 hours ⏳ (1 week × 20 h)
Final exam study
20 hours ⏳ (1 week × 20 h)
150 Total Workload Hours
6 ECTS Credits
Course Policies
Academic Integrity
All work submitted must be your own. Plagiarism, cheating, or any form of academic dishonesty will result in disciplinary action according to university policies. When in doubt about citation practices, consult the instructor.
Attendance Policy
Students are expected to adhere to the attendance requirements as outlined in the International University of Sarajevo Study Rules and Regulations. Excessive absences, whether excused or unexcused, may impact academic performance and eligibility for assessment. Mandatory sessions (e.g., labs, workshops) require attendance unless formally exempted. For detailed policies on absences, documentation, and penalties, please refer to the official university regulations.
Technology & AI Policy
Laptops/tablets may be used for note-taking only during lectures. Phones should be silenced and put away during all class sessions. Audio/video recording requires prior permission from the instructor.
Artificial Intelligence (AI) Usage: The use of AI tools (e.g., ChatGPT, Copilot, Gemini) varies by assessment component. Please refer to the AI usage indicator next to each assessment item in the Assessment Methods and Criteria section above. Submitting AI-generated content as your own work, where AI is not explicitly allowed, constitutes an academic integrity violation.
Communication Policy
All course-related communication should occur through official university channels (institutional email or SIS). Emails should include [IBF315] in the subject line.
Academic Quality Assurance Policy
Course Academic Quality Assurance is achieved through Semester Student Survey. At the end of each academic year, the institution of higher education is obliged to evaluate work of the academic staff, or the success of realization of the curricula.
Learning Tips
Be prepared to contribute thoughtfully during class discussions, labs, or collaborative work. Active participation deepens understanding and encourages critical thinking.
Complete assigned readings or prep materials before class. Take notes, highlight key ideas, and jot down questions. Aim to grasp core concepts and their applications—not just facts.
Use course frameworks or methodologies to analyze problems, case studies, or projects. Begin early to allow time for reflection and refinement. Seek feedback to improve your work.
Don’t hesitate to reach out when something is unclear. Use office hours, discussion boards, or peer networks to clarify concepts and stay on track.
Syllabus Last Updated on Mar 03, 2026 | International University of Sarajevo
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Referencing Curricula Print this page
| Course Code | Course Title | Weekly Hours* | ECTS | Weekly Class Schedule | ||||||
| T | P | |||||||||
| IBF315 | Equity Instruments and Business Valuation | 3 | 0 | 6 | Monday 15:00-18:00 | |||||
| Prerequisite | Junior Standing | It is a prerequisite to | - | |||||||
| Lecturer | Edib Smolo | Office Hours / Room / Phone | Monday: 14:00-15:00 |
|||||||
| esmolo@ius.edu.ba | ||||||||||
| Assistant | Assistant E-mail | |||||||||
| Course Objectives | The purpose of this course is to provide students with knowledge regarding the companies’ valuation models and valuations reports, and to be able to successfully apply the acquired skills in the capital market community. | |||||||||
| Textbook | Koller, Tim (2015) Valuation: Measuring and Managing the Value of Companies. Wiley, McKinsey & Company. | |||||||||
| Additional Literature |
|
|||||||||
| Learning Outcomes | After successful completion of the course, the student will be able to: | |||||||||
| Teaching Methods | ||||||||||
| Teaching Method Delivery | Face-to-face | Teaching Method Delivery Notes | ||||||||
| WEEK | TOPIC | REFERENCE | ||||||||
| Week 1 | Introducion | |||||||||
| Week 2 | Why Value the Value | Chapter 1 | ||||||||
| Week 3 | Shareholder vs Stakeholder model of Corp. Governance | Chapter 1 | ||||||||
| Week 4 | Fundamental Principles of Value Creation | Chapter 2 | ||||||||
| Week 5 | Fundamentals of valuation/Quiz 1 | Chapter 2 | ||||||||
| Week 6 | Frameworks for Valuation | Chapter 8 | ||||||||
| Week 7 | Midterm Exam | |||||||||
| Week 8 | Reorganizing the Financial Statements | Chapter 9 | ||||||||
| Week 9 | Analyzing Performance | Chapter 10 | ||||||||
| Week 10 | Forecasting Performance | Chapter 11 | ||||||||
| Week 11 | Using Multiples/Quiz 2 | Chapter 16 | ||||||||
| Week 12 | Valuation Techniques: Market Capitalisation and Times Revenue Method | Chapter 17 | ||||||||
| Week 13 | Valuaiton Techniques: Earnings Multiplier, Disconted Cash Flow and Liquidation Value Method | Chapter 17 | ||||||||
| Week 14 | Business Valuation Report - sample | Sample valuation report - case study | ||||||||
| Week 15 | Project presentation | |||||||||
| Assessment Methods and Criteria | Evaluation Tool | Quantity | Weight | Alignment with LOs | AI Usage |
| Final Exam | 1 | 25 | Not Allowed | ||
| Semester Evaluation Components | |||||
| *** ECTS Credit Calculation *** | |||||
| Activity | Hours | Weeks | Student Workload Hours | Activity | Hours | Weeks | Student Workload Hours | |||
| Lecture hours | 3 | 15 | 45 | Home study | 2 | 15 | 30 | |||
| Project | 3 | 7 | 21 | Quiz study | 7 | 2 | 14 | |||
| Mid term exam study | 20 | 1 | 20 | Final exam study | 20 | 1 | 20 | |||
| Total Workload Hours = | 150 | |||||||||
| *T= Teaching, P= Practice | ECTS Credit = | 6 | ||||||||
| Course Academic Quality Assurance: Semester Student Survey | Last Update Date: 27/03/2026 | |||||||||