Description
Relevant financial information is presented in a structured manner and in a form easy to understand. They typically include basic financial statements, accompanied by a management discussion and analysis
Financial Statement Modeling
FOR MBA STUDENTS PURSUING CAREERS IN: ? Investment banking ? VC/ Private equity ? Corporate finance ? Business development ? Asset management / HF ? Equity research ? Credit research ? Capital markets ? Project finance P R E R E Q U I S I TE S Financial Accounting Excel – Beginner level FORMAT 1 day CONTINUING ED CREDITS 45 CPE credits 35 PD credits RATES & MORE INFO Matthew Blair 617-314-7685 x722 [email protected] Summary Participants develop a model completely from scratch, inputting historical data and assumptions to project out financial statements using step-by step instruction on selecting, locating, and developing appropriate projection drivers. At completion, participants will have developed a complete and comprehensive three-statement model using various supporting schedules. Interactive, Step-by-Step Learning Approach Participants follow intuitive, step-by-step instruction manuals while building models using Excel model templates and are directed to the appropriate external documents (SEC filings, research reports, etc.) in order to build comprehensive models the way they would on the job. Key Learning Outcomes ? Building financial models from scratch the way it is done at financial institutions. ? Excel and formatting best practices, efficient formula construction, and appropriate driver selections. ? Learn to use advanced Excel functions to present various sensitivities to projected financial metrics. ? Balancing the balance sheet accounts, including excess cash and revolver. ? Fixing circularity problems, iteration, and other common modeling troubleshooting. ? Balance sheet / cash flow statement crosschecks. MORNING SESSION (8-11AM) Introduction to financial modeling • Overview of financial modeling • Understanding projections • Modeling techniques • Excel best practices foundation and exercises • Useful Excel shortcuts and functions • Gathering historical documents/information MIDDAY SESSION (11AM-3:30PM) • Building the model , step-bystep • Setting up the core financial statements • Working capital, Depreciation & amortization (PP&E), and Other balance sheet items. • Shareholders’ equity & Shares Outstanding • Debt & Interest AFTERNOON SESSION (3:30-5PM) • Improving the finished product • Controlling circular references using automated circuit breakers • Balancing the model • Scenario analysis • Creating forms in Excel
Valuation Overview & DCF Modeling
FOR MBA STUDENTS PURSUING CAREERS IN: ? Investment banking ? VC/ Private equity ? Corporate finance ? Business development ? Asset management / HF ? Equity research ? Credit research ? Capital markets ? Project finance P R E R E Q U I S I TE S Financial Accounting Excel – Beginner level FORMAT 1 day CONTINUING ED CREDITS 45 CPE credits 35 PD credits RATES & MORE INFO Matthew Blair 617-314-7685 x722 [email protected] Summary Participants will learn the conceptual underpinnings of the valuation framework followed by step-by-step training for building a professional, robust discounted cash flow (DCF) model in Excel from scratch, using real case studies, industry best practices, and sensitivity analyses. Key Learning Outcomes • Understand the important differences between enterprise and equity valuation, unlevered and levered free cash flow estimation, and intrinsic vs. market-based valuation • Learn proper treatment and adjustments for options, preferred stock, minority interests, debt, cash and marketable securities • Derive valuation ranges • Build a professional, robust discounted cash flow (DCF) model in Excel • Project levered & unlevered cash flows in Excel by normalizing operating profits for calculating free cash flows and avoid common mistakes. • Project working capital items, deferred taxes, capital expenditures, and long-term accruals. • Calculate the terminal value using both the exit multiple and the growth in perpetuity approach. • Discount cash flows using a mid-year convention toggle. • Correctly calculate the discount rate by deriving the cost of debt, of equity, and of capital using CAPM. • Understand the role of capital structure in determining beta, the cost of equity, and ultimately WACC. • Learn how to delever and relever beta. • Model for and deal with the circularity inherent in the discount rate calculation. • Calculate shares outstanding using the treasury stock method. • Utilize the enterprise value to determine implied share prices. MORNING SESSION (8-11AM) Overview of valuation modeling • Enterprise value vs. Equity value • Relative vs. Intrinsic value • Calculating and interpreting multiples (PE ratios, EBITDA multiples, etc.) • The “football field” AFTERNOON SESSION (11AM5PM) Participants build a complete working DCF model. Training encompasses the following: • From accounting profit to levered and unlevered free cash flows—proper methodology and best practices for projections in Excel. • Estimating the weighted average cost of capital (WACC) and common pitfalls to avoid. • Applying the two major approaches to calculating terminal value • Using data tables to analyze a broad range of scenarios given different assumptions
doc_733238658.pdf
Relevant financial information is presented in a structured manner and in a form easy to understand. They typically include basic financial statements, accompanied by a management discussion and analysis
Financial Statement Modeling
FOR MBA STUDENTS PURSUING CAREERS IN: ? Investment banking ? VC/ Private equity ? Corporate finance ? Business development ? Asset management / HF ? Equity research ? Credit research ? Capital markets ? Project finance P R E R E Q U I S I TE S Financial Accounting Excel – Beginner level FORMAT 1 day CONTINUING ED CREDITS 45 CPE credits 35 PD credits RATES & MORE INFO Matthew Blair 617-314-7685 x722 [email protected] Summary Participants develop a model completely from scratch, inputting historical data and assumptions to project out financial statements using step-by step instruction on selecting, locating, and developing appropriate projection drivers. At completion, participants will have developed a complete and comprehensive three-statement model using various supporting schedules. Interactive, Step-by-Step Learning Approach Participants follow intuitive, step-by-step instruction manuals while building models using Excel model templates and are directed to the appropriate external documents (SEC filings, research reports, etc.) in order to build comprehensive models the way they would on the job. Key Learning Outcomes ? Building financial models from scratch the way it is done at financial institutions. ? Excel and formatting best practices, efficient formula construction, and appropriate driver selections. ? Learn to use advanced Excel functions to present various sensitivities to projected financial metrics. ? Balancing the balance sheet accounts, including excess cash and revolver. ? Fixing circularity problems, iteration, and other common modeling troubleshooting. ? Balance sheet / cash flow statement crosschecks. MORNING SESSION (8-11AM) Introduction to financial modeling • Overview of financial modeling • Understanding projections • Modeling techniques • Excel best practices foundation and exercises • Useful Excel shortcuts and functions • Gathering historical documents/information MIDDAY SESSION (11AM-3:30PM) • Building the model , step-bystep • Setting up the core financial statements • Working capital, Depreciation & amortization (PP&E), and Other balance sheet items. • Shareholders’ equity & Shares Outstanding • Debt & Interest AFTERNOON SESSION (3:30-5PM) • Improving the finished product • Controlling circular references using automated circuit breakers • Balancing the model • Scenario analysis • Creating forms in Excel
Valuation Overview & DCF Modeling
FOR MBA STUDENTS PURSUING CAREERS IN: ? Investment banking ? VC/ Private equity ? Corporate finance ? Business development ? Asset management / HF ? Equity research ? Credit research ? Capital markets ? Project finance P R E R E Q U I S I TE S Financial Accounting Excel – Beginner level FORMAT 1 day CONTINUING ED CREDITS 45 CPE credits 35 PD credits RATES & MORE INFO Matthew Blair 617-314-7685 x722 [email protected] Summary Participants will learn the conceptual underpinnings of the valuation framework followed by step-by-step training for building a professional, robust discounted cash flow (DCF) model in Excel from scratch, using real case studies, industry best practices, and sensitivity analyses. Key Learning Outcomes • Understand the important differences between enterprise and equity valuation, unlevered and levered free cash flow estimation, and intrinsic vs. market-based valuation • Learn proper treatment and adjustments for options, preferred stock, minority interests, debt, cash and marketable securities • Derive valuation ranges • Build a professional, robust discounted cash flow (DCF) model in Excel • Project levered & unlevered cash flows in Excel by normalizing operating profits for calculating free cash flows and avoid common mistakes. • Project working capital items, deferred taxes, capital expenditures, and long-term accruals. • Calculate the terminal value using both the exit multiple and the growth in perpetuity approach. • Discount cash flows using a mid-year convention toggle. • Correctly calculate the discount rate by deriving the cost of debt, of equity, and of capital using CAPM. • Understand the role of capital structure in determining beta, the cost of equity, and ultimately WACC. • Learn how to delever and relever beta. • Model for and deal with the circularity inherent in the discount rate calculation. • Calculate shares outstanding using the treasury stock method. • Utilize the enterprise value to determine implied share prices. MORNING SESSION (8-11AM) Overview of valuation modeling • Enterprise value vs. Equity value • Relative vs. Intrinsic value • Calculating and interpreting multiples (PE ratios, EBITDA multiples, etc.) • The “football field” AFTERNOON SESSION (11AM5PM) Participants build a complete working DCF model. Training encompasses the following: • From accounting profit to levered and unlevered free cash flows—proper methodology and best practices for projections in Excel. • Estimating the weighted average cost of capital (WACC) and common pitfalls to avoid. • Applying the two major approaches to calculating terminal value • Using data tables to analyze a broad range of scenarios given different assumptions
doc_733238658.pdf