Course Overview
The entire world’s economy is based on money and value of things. One who understands the basics of valuation and finance is very valuable for the corporate world. Finance is a huge sector where there is no limit of success. Every now and then the reforms are modified and the corporate people search for those who know the grounds like the back of their hands to handle the situations. That is why the course of Financial Modeling and Corporate Valuation has become so important these days.
About financial modeling
The words may sound simple but the process comprises of a lot number of steps that prepare an abstract presentation of a model which resembles a real world financial scenario. The model is not just an imaginary or fictitious output but is supported by logical data calculated with mathematical innuendo.
The mathematical model represents the simple version of the performance of an asset handling financial firm or portfolio of a venture (business or project), or any kind of investment. The financial model means different to different people.
 It might be accounting and applications of corporate financial segment.
 It can be implemented in corporate financial applications in quantitative manner.
 Some considers it as a tradecraft whereas some consider it as a science.
No matter what the notion is, financial modeling has a huge application in the business world. In simple words it is just an approach or an exercise in corporate finance and asset pricing in a quantitative mode. If it is described in the sense of statistics and probability then financial modeling is the technique that where translation of a set of hypotheses is done which are related to the behavior of certain entities related to the business such as market, agents or sales force.
The two major divisions that come under the brackets of Financial Modeling are:

Accounting
In this case the financial modeling is largely responsible to forecast the financial statement in corporate finance, accounting and investment banking. In this aspect the financial model is built with respect to the company specifications and then the decisions are taken as per the results of the analysis.
The applications are enlisted below.
 Business valuation especially the part where the discounted cash flow enters. It also handles other valuation problems.
 The entire scenario is sketched as per the model and then the management built their decision based on the forecasts and future trends.
 Capital budgeting.
 Calculations of cost of capital
 Analyzing the financial statements that include operation, leases and research and development.
 Estimation of the future behavior and performance of the entities that are incorporated in the corporate structure by the process of merging and acquiring.

Quantitative finance
Another interesting part of the financial modeling is the quantitative analysis of the finance of the business by developing a top class sophisticated model based on mathematical calculations. The models are entirely based on the grounds dealing with asset pricing, movements of market in a particular time interval, returns from the portfolios and other related aspects. It is a typical financial engineering process where the entire financial decisions are based on the quantitative analysis medium developed via the models.
The applications in this segment include:
 Option calculation and pricing.
 Derivative calculations like interest rate, credit and exotic factors.
 Tells how to structure the interest rates via the modeling process.
 Provisioning and credit scoring.
 Solving the problems in predicting financing activities of a corporation.
 Portfolio management and optimization
 Evaluating risk and preparing a risk model.
 Dynamic Financial analysis
The problems that are tackled are dynamic and continuous. This is why the models are prepared based on complex algorithms and require computer simulations. Advanced numerical methods are involved in building the optimization models.
Equity valuation with the modeling
The financial modeling also leads to determine the value of a business so that the owner can get the right value while selling or buying one. This is the process used by the financial participants to determine the price of a business venture in order to get the right value while acquiring or selling.
The same models that are used to define the value of the business are also used to resolve disputes related to the business like gift taxations, litigation of divorce, price of business assets, agreement valuation for partners, etc.
The elements of valuations
The factors that are taught to the aspiring students are enlisted below.

Economic conditions
The report generally starts with the purpose of the analysis and states the scope of the business appraisal with date and the audience. The economic conditions of the region as well as that of the national in the contemporary time are clearly stated. The industrial condition on which the business valuation is done is also mentioned.

Financial analysis
The statement analysis in the financial background involves:
 Ratio analysis covering turnover, liquidity, profitability and many other aspects.
 Common size analysis
 Trend analysis
 Industry comparative analysis.
This vast analysis allows an analyst to find out the parameters that are actually effecting or affecting the industry at that time. The comparison is done in between the financial statements of different times of the company to check for the growth or decline rates and other trends that are hidden in them and find the pattern in the behavior of the parameters.

Financial statement normalization
Normalization is the processes that involve certain steps where a businessman can identify the ways to generate income that he take out from the cash flow without harming the business. There are four categories in this aspect.
 Comparability adjustment
This process is done to adjust the financial statements between the subject company and other businesses, similar in industrial background, to eliminate the differences.
 Non operating adjustments
The non operating assets are eliminated via this process from the balance sheet before the business is sold in a hypothetical condition.
 Non recurring adjustment
The events that recur or expected to recur are eliminated or adjusted so that the future expectations may not get improvised.
 Discretionary adjustment
The valuation is properly determined as per the industry standards so that the payment should not be over or under the normal level.

Market, asset and income approaches
These three different approaches are used in the valuation using different techniques to determine the value of the business. The value is calculated as follows:
 The income based approach calculates the net present value
 The asset based value approach adds up all the value of the intrinsic parts of the business.
 The market approach compares the subject to the other ones in the same business, size and region to evaluate the proper value of the company.
The valuation models are built as per the requirement and the value is generated.
The prerequisites of the course
As mentioned earlier, the modeling and corporate valuation need indepth knowledge in mathematics and other subjects like physics, computer science and engineering. The students who have further knowledge in operational research are more deserving. The disciplines should have a quantitative background. The bachelors can go for the degrees like Master of Quantitative Finance, Master of Computational Finance or Master of Financial Engineering. An aspirant who has completed his MBA or MSF can go for this accounting qualification side by side.
The platforms used in the modeling and valuation
There are software that exist for the exact application but most of the market is based on the spreadsheets of Microsoft Excel. The models are normally company specific. In fact the analysts have their own typically modified models to perform the specific tasks that are given. The models are developed in Excel and it has the largest share in the market overcoming Lotus 123 in the 90s.
Other than the spreadsheet preference, the intense and complex calculations are also done in custom C++ based numerical software for analysis. One of the most extensively used platforms that are based on C++ applications is MATLAB. The platform is more stable and faster than the spreadsheets and has a lot more applications to cater. This platform is considered to be the best tool for research in economics because of the features like graphical tools, debugging tools and intuitive programming.
On the other hand C++ and FORTRAN are utilized when high computational applications for cost is involved as MATLAB turn out to be slow in these cases. The simplicity of C++ and FORTRAN become quite handy in these high computational matters.
There are certain firms that develop profile specific software for the corporations. It can also be developed as an in house project which imparts better understanding of the parameters to be considered. The entire venture depends to bridge the division between the mathematical and physical sciences with finance as the result due to the division and difference was ugly in 200708.
Frequently asked questions
 How will I benefit from the course?
The online courses are the best for the professional and aspiring students. The flexibility is so well adjusted that the aspirants can do it as per their convenience. With diligent effort and proper learning schedule, the aspirant can add another feather in their caps and can enhance the curriculum vitae to a new level.
Beside this, the other benefits that will come with the course are:
 Application of MS Excel skills for problem solving
 Starting from the scratch, the student will earn how to build a financial model in a integrated fashion
 Performance analysis techniques will be taught to make the skill set eve more versatile
Learning these techniques via the course, a student can land up a good and prospective job in reputed platforms like investment banks, Brokerage houses, knowledge process outsourcing, corporate finance, credit analysis firms, business planning firms, etc. The opportunities are immense and the possibilities are unlimited.
 Is it applicable for novice students?
If the student is known to the financial concepts that together make the basic platform of the course then he or she will not face any kind of problem to understand the concepts of the course.
The course is developed in such a way that even a newbie can catch up fast and learn the techniques properly to enhance his or her skill set.
 What specifications do I need in my computer?
The computers of basic forms will do. The version of Excel can be 2007 or higher to get started. If the course tends to divert towards other software then they might need to install them in their computer.
 Will my queries be met properly?
The questions will be answered after every session as per convenience. The doubts a student has will be cleared. In fact there will be a homework scheduled after every session to impart a proper practical knowledge of what the student learned.
Career benefits in Financial modeling
Financial modeling has a huge prospect as the experts are required in all businesses, irrespective of size and genre. The global economy is developing day by day and every business wants to know whether they can be on the top or how they can mould the parameters in to their benefits. That is why the career in financial modeling has such a boost.
As experience will be gained the personnel will occupy the top notch places in the organization like:
 Management position in acquisitions
 Financial modeling and audit management
 Project management in Financial Model Conversion
 Analyst in Equity research
 Economic data research analyst
 Market risk management
There are so many directions and so many positions to acquire. That is why this course is the most beneficial for those who want to be a successful financial expert in the future. The salaries are above average as per the industry standards. In fact the bigger the banner the better is the salary an aspirant can expect. The entire world is moving fast and so is the economy. Hence the requirement will never go down in future as the corporations will never stop making profit.
Where do our learners come from? 
Professionals from around the world have benefited from eduCBA’s Financial Modeling and Valuation Course Courses. Some of the top places that our learners come from include New York, Dubai, San Francisco, Bay Area, New Jersey, Houston, Seattle, Toronto, London, Berlin, UAE, Chicago, UK, Hong Kong, Singapore, Australia, New Zealand, India, Bangalore, New Delhi, Mumbai, Pune, Kolkata, Hyderabad and Gurgaon among many. 
Curriculum
Module 1: Introduction on MSExcel
1  Excel 2010 Beginner – Overview 
2  Getting Started – Ribbons & Quick Access Toolbar 
3  Getting Started – Surfing Excel & HELP Function 
4  Excel Case Study 
5  Data Entry in Excel 
6  Populating the Case Study in Excel 
7  Calculations – Addition Subtract Multiply Division 
8  Formulas – SUM MAX MIN AVERAGE 
9  Formatting – Number Formats 
10  Formatting – Table Formats 
11  Updating a Calculation 
12  Percentages & Absolute References 
13  Conditional Formatting 
14  IF function 
15  COUNTIF Function 
16  SUMIF Function 
17  Creating Charts and Graphs 
18  Create Pie Charts 
19  Sorts 
20  Filters 
21  Pivot Tables 
22  Freeze and Split 
23  Presentation – Table Formats 
24  Presentation – Indents and Formatting Charts 
25  Printing the Worksheet 
26  Printing – Headers and Titles 
27  Shortcuts – Formatting and Navigation 
28  Shortcuts – Selection, Data and Formula 
29  Common Errors 
30  Concluding Lecture 
Module 2: Advance Excel Tools for Financial Modeling
1  Office Button and Paste Function 
2  Sparklines Custom Ribbons and Screenshots 
3  Conditional Formatting and Equation Editor 
4  Paste Special 
5  Logical functions IF AND OR 
6  Arithmetic functions MAX MIN ABS etc 
7  COUNT COUNTIF COUNTA COUNTBLANK 
8  Cell Information ISERROR ISBLANK etc 
9  Download all Excel and PDF files 
10  CHOOSE Function 
11  VLOOKUP Function 
12  HLOOKUP Function 
13  MATCH INDEX 
14  Database functions DSUM DAVERAGE DCOUNT 
15  OFFSET Function Part 1 
16  OFFSET Function Part 2 
17  FORECAST Function 
18  Download all Excel and PDF files 
19  One Dimensional Data Tables 
20  Two dimensional Data Tables 
21  Solver 
22  Goal Seek 
23  Download all Excel and PDF files 
24  Array Function Introduction 
25  Array Function Row and Columns 
26  Array Function TRANSPOSE 
27  Array Function FREQUENCY 
28  Download all Excel and PDF files 
29  PROPER UPPER LOWER LEFT RIGHT MID 
30  FIND CLEAN REPT CONCATENATE 
31  Download all Excel and PDF files 
32  Pivot Tables 
33  Pivot Table Filter Slicer 
34  Pivot Charts 
35  Download all Excel and PDF files 
36  Naming a Cell and a Range 
37  Naming Dynamic Ranges 
38  Download all Excel and PDF files 
39  Auditing Toolbar 
40  Watch Window 
41  Group Boxes and Options Button 
42  Check Boxes 
43  List Boxes and Combo Boxes 
44  Scroll Bar and Spinners 
45  Text to Columns 
46  Grouping Tabs 
47  SUBTOTAL Function 
48  Hyperlinks 
49  Data Validation 
50  Random Numbers 
51  Custom View 
52  Protecting Worksheet and Workbook 
53  Download all Excel and PDF files 
54  Excel 2010 Sparklines 
55  Range Charts Type 1 Part a 
56  Range Charts Type 1 Part b 
57  Range Charts Area Type 2 Part a 
58  Range Charts Area Type 2 Part b 
59  Funding Graph 
60  Two Axis Graphs 
61  Scenario Graphs Part 1 
62  Scenario Graphs Part 2 
63  Average Line 
64  Bar to Pie chart 
65  Combo Charts 
66  Creating Histogram 
67  Invert Negatives 
68  Scrolling Chart part 1 
69  Scrolling Chart part 2 
70  Download all Excel and PDF files 
Module 3: Analyze and Present Data Visually in Powerpoint
1  Introduction to Excel 2013 
2  Excel Chart Concepts 
3  02 Excel Basic Charts 
5  03 Finetuning of Charts in Excel 
6  04 Changing Chart Options – part 1 
7  04 Changing Chart Options – part 2 
8  05 Format Tab Option 
9  Column and Line Chart 
10  Pie Diagram 
11  Area Chart 
12  Doughnut, Bubble and Radar Chart 
13  Paste Chart Data 
14  Multiple Source Data and Table Chart 
15  Basic Dynamic Chart 
16  Dynamic Chart with Check boxes 
17  Dynamic Pie Chart 
18  Pareto Chart 
19  Frequency Chart 
20  Chart Filter 
21  Gantt Chart 
22  advanced dynamic chart 
23  Calculator Chart 
24  Pivot Chart 
25  Map Chart 
Module 4: Macros & VBA
1  VBA & Macros: Course Introduction 
2  What are VBA & Macros? 
3  Advantages of using VBA and Macros 
4  Protocols in creating Macros 
5  Creating My First Macro 
6  VBA Environment – Project Explorer 
7  VBA Environment – Properties 
8  VBA Environment – Run Break Reset and Design 
9  VBA Environment – Debug – Toggle 
10  VBA Environment – Debug – Local Window 
11  VBA Environment – Debug – Watch and Immediate Window 
12  Macros with IF Condition 
13  Macros with IF Condition (Continued) 
14  Data Filter using VBA – Introduction 
15  Data Filter using VBA – Macro Recording 
16  Data Filter using VBA – Dynamic Update 
17  Data Filter using VBA – Command Buttons 
18  Data Filter using VBA – Command Buttons – Modifying 
19  Data Filter using VBA – Command Buttons – Final touches 
20  Charting using VBA – Introduction 
21  Charting using VBA – Creating codes for charts 
22  Charting using VBA – Recording Macro 
23  Charting using VBA – Chart in another sheet 
24  Charting using VBA – Dynamic Inputs 
25  Charting using VBA – Creating Dynamic charts 
26  Charting using VBA – Checking the codes 
27  Userforms – Introduction 
28  Userforms – Textbox 
29  Userforms – Textbox Printing 
30  Conclusion 
Module 5: Financial Statement Analysis
1  Introduction to Accounting 
2  Explaining and Business Cycle 
3  Accounting for Income Statement 
4  Accounting for Balance sheet Part 1 
5  Accounting for Balance sheet Part 2 
6  Accounting for Balance sheet Part 3 
7  Accounting for Cash Flows 
8  Financial Statements Fiscal Year vs Calendar Year 
9  Income Statement Format 
10  Calculating Profit Margins 
11  Non Recurring Items 
12  Changes in Accounting Estimates 
13  Final Remarks 
14  Revenue Recognition Percentage Completion Completed Contract Part 1 
15  Revenue Recognition Percentage Completion Completed Contract Part 2 
16  Revenue Recognition Installment Method Cost Recovery 
17  Downloading Colgates Income Statement part 1 
18  Downloading Colgates Income Statement part 2 
19  Analyst format of Colgates Income Statement 
20  Formatting the Income Statement 
21  Investigating the Nonrecurring charges 
22  Seperating nonrecurring Items 
23  Comparision of Margins before and after adjustments 
24  Introduction to Balance Sheet 
25  Introduction to Current Assets 
26  Cash and Cash Equivalents 
27  Cash and Cash Equivalents Colgate PG Microsoft 
28  Accounts Receivables 
29  Accounts Receivables Case Study part 1 
30  Accounts Receivables Case Study part 2 
31  Inventory 
32  Inventory Case Study 
33  Financial Reporting Standards 
34  Inventory LCM 
35  Inventory Valuations 
36  Inventory Valuation Recap 
37  Inventory Colgate 
38  Prepaid Expenses 
39  Current Liabilities 
40  Other Current Assets Colgate 
41  Current Liabilities Colgate 
42  Long Term Assets 
43  Depreciation Expense long lived asset 
44  Introduction to Goodwill 
45  Pooling Method of Accounting 
46  Purchase Method of Accounting 
47  Goodwill Impairment 
48  Long Term Investments Part 1 
49  Long Term Investments Part 2 
50  Long Term Investments Example 
51  Long Term Liabilities 
52  Long Term Liabilities Risk Profile 
53  Introduction to Shareholders Equity 
54  Common Stock Par value and APIC 
55  Treasury Stock or Shares 
56  Retained Earnings Dividends 
57  Additional Other Comprehensive Income 
58  Introduction to Preference Shares 
59  MacDonalds Shareholders Equity 
60  Dividends Types 
61  Cash and Property Dividend Example 
62  Stock Dividends 
63  Small Large Stock Dividends Example 
64  Stock Split 
65  Introduction to EPS 
66  Basic EPS example 
67  Calculating Weighted Average Shares 
68  Effect of Stock Dividends and Stock Splits 
69  Simple vs Complex Structures 
70  Preferred Convertible Shares Dilution 
71  Preferred Convertible Shares Dilution Example 
72  Antidilutive Preferred Convertible Shares 
73  Convertible Debt Dilution 
74  Convertible Debt Dilution Example 
75  Antidilutive Convertible Debt 
76  Stock Options 
77  Treasury Stock Method 
78  Stock Option Dilution Example 
79  Comprehensive Example 
80  Introduction to Cash Flows 
81  CFO Direct Method 1 
82  CFO Direct Method 2 
83  CFO Direct Method 3 
84  CFO Direct Method Example 
85  CFO Indirect Method 
86  CFO Indirect Method Example 
87  CFI 
88  CFF 
89  Comprehensive Example CFO Direct Method 1 
90  Comprehensive Example CFO Direct Method 2 
91  Comprehensive Example CFO Indirect Method 
92  Comprehensive Example CFI 
93  Comprehensive Example CFF 
94  Comprehensive Example Ending Cash Balance 
Module 6: Introduction to Valuation
1  Corporate Valuations – Overview 
2  DDM – Dividend Discount Model Intrinsic Value 
3  DDM – Dividend Discount Model Required rate of return 
4  DDM – Dividend Discount Model Compare Intrinsic and Market Price 
5  DDM – Intrinsic value of growth companies 
6  DDM – Dividend Discount Model Present Value 
7  Introduction to DCF 
8  Forecasting Income Statement EBITDA 
9  Understanding the Working Capital 
10  Completing the Working Capital Calculations 
11  Linking the Free Cash Flow to Firm FCFF 
12  Discounting the Explicit Period Cash Flows 
13  Calculation of Terminal Values 
14  DCF Valuation Summary 
15  DCF Sensitivity Analysis 
16  Understanding the Capital Structure 
17  Options Treasury Stock Method 
18  Options Explained 
19  Calculation of in the money Convertibles 
20  Calculation of in the money Stock Options 
21  Calculation of Debt Equity Ratio 
22  Cost of Debt Calculations 
23  Cost of Equity Calculation 
24  Enterprise Value Calculation Completing the Missing Links 
25  Introduction to Relative Valuation 
26  Relative Valuations Enterprise Value and Equity Value 
27  Relative Valuations Comparable Comp Sheet 
28  Understanding PE Ratio 
29  Forward and Trailing PE 
30  Advantages and Limitations of PE 
31  Understanding PBV Ratio 
32  Why PBV is used in Banks 
33  PBV and ROE Used for Energy Sector 
34  Understanding PCF Ratio 
35  Why PCF used in Oil Gas Gold Real Estate 
36  Concluding Lecture 
Module 7: Financial Modeling (Automobile)& DCF Template Creation
1  Industry Overview 
2  Company overview 
3  Populating the historical values part 1 
4  Populating the historical values part 2 
5  Horizontal analysis 
6  Vertical analysis 
7  Ratio analysis 
8  Revenue projections 
9  Cost sheet projections 
10  Working capital Projections part 1 
11  Working capital Projections part 2 
12  Capex and base equation 
13  Depreciation schedule part 1 
14  Depreciation schedule part 2 
15  Depreciation schedule part 3 
16  Amortization schedule 
17  Linking the income statement 
18  Linking the balance sheet 
19  Linking the cash flow statement 
20  Shareholders equity schedule 
21  Debt schedule part 1 
22  Debt schedule part 2 
23  Completing the missing links 
24  Introduction to DCF valuation 
25  FCFF cost of equity 
26  WACC Calculations 
27  Intrinsic value calculation 
28  Sensitivity analysis 
29  Introduction to Relative valuation 
30  Relative valuation part 1 
31  Relative valuation part 2 
32  Valuation Analysis 
33  Conclusion 
Module 8: Comparable Company Analysis – Trading & Transaction Comps
1  Introduction to Comparable Comps 
2  Valuation Methodologies 
3  Why Comps? 
4  Complement More Detailed and Complex Valuation Method 
5  Steps of Comparable Comps 
6  Selecting the Peers 
7  Selecting the Multiples 
8  Selecting the Multiples Continues 
9  Working on Basic Share Outstanding 
10  Diluated Share Outstanding 
11  Cash and Cash Equivalents 
12  Financial Average 
13  Price by Book Value Multiple 
14  LTM Calculation Example 
15  Gathering the Data 
16  Gathering the Data Continues 
17  Drawing the comps sheet 
18  Takeover Premium 
19  More on Takeover Premium 
20  REIT Valuation 
21  REIT Valuation Continues 
22  Common Interview Questions 
23  Common Interview Questions Continues 
24  Practical File 
Module 9: Comcast and Time Warner Merger Modeling Training
1  Industry Overview 1 
2  Industry Overview 2 
3  Comcast Company Profile 1 
4  Comcast Company Profile 2 
5  Company Profile 1 
6  Company Profile 2 
7  Overview 2 
8  Overview 3 
9  Overview 4 
10  Transaction Assumptions 1 
11  Transaction Assumptions 2 and 3 
12  Transaction assumption 4 
13  Buyer and seller IS 1 
14  Buyer and seller IS 2 
15  Combining the IS 1 
16  Combining the IS 2 
17  Calculating accretion and dilution 
18  Synergies 1 
19  Synergies 2 
20  Synergy assumptions 
21  Synergy calculations 
22  Combining the BS 1 
23  Combining the BS 2 
24  Calculating the adjustments 1 
25  Calculating the adjustments 2 
26  Calculating the adjustments 3 
27  Calculating the adjustments 4 
28  Adjusting the BS 
29  Adjusting the IS 
30  Sensitivity Analysis 
31  Calculating the free cash flows 
32  Summarizing the model 
Module 10: Introduction to Project Finance
1  Learning Objective 
2  Download all Excel and PDF files 
3  Introduction Part 1 
4  Introduction Part 2 
5  Estimating the cost of the project 
6  Feasibility Analysis Part 1 
7  Feasibility Analysis Part 2 
8  Means of finance 
9  Risk analysis and Mitigation 
10  Important Ratios in Project Finance 
11  Introduction to Project Finance Modeling 
12  Assumptions Project Model Steps 
13  Assumptions Operating 
14  Assumptions Expenses and Equity 
15  Revenue Indicators and Assumptions 
16  Calculating Operating Revenues 
17  Operating Cost Tax Calculations 
18  Calculating Project Cost 
19  Calculating Debt Drawals 
20  IDC and Circular Loops 
21  Land Building and Civil Works 
22  Misc Fixed Assets 
23  IDC Allocation 
24  Completing the Income Statement 
25  Calculating Principal Repayments 
26  Completing the Balance Sheet 
27  Completing the Cash Flow Statements 
28  Calculating DSCR 
29  Calculating Project IRR 
30  Calculating NPV 
31  Formatting the Project Model 
32  Sensitivity Analysis Interest Rate and IRR 
33  Sensitivity Analysis Parking Charges and IRR 
34  Download all Excel and PDF files 
35  Preparing a Project Finance Report 
Module 11: LBO Modeling
1  Overview part 1 
2  Overview part 2 
3  Transaction assumptions 
4  Debt assumptions part 1 
5  Debt assumptions part 2 
6  Sources & uses 
7  Consolidated Balance Sheet 
8  Populating the Historical Values 
9  Revenue Build up part 1 
10  Revenue build up part 2 
11  Revenue build up part 3 final 
12  Cost sheet calculations 
13  Working Capital Management part 1 
14  Ratios and Assumptions part 1 
15  Ratios and Assumptions part 2 
16  CapexBase Equation 
17  Calculating depreciation part 1 
18  Calculating depreciation part 2 
19  Amortization schedule 
20  Linking the income statement 
21  Linking the balance sheet 
22  Linking the cash flow statement 
23  Debt schedule part 1 
24  Debt schedule part 2 
25  Debt schedule part 3 
26  Debt schedule part 4 
27  Completing the missing links 
28  calculating IRR part 1 
29  calculating IRR part 2 
30  Sensitivity analysis part 1 
31  Sensitivity analysis part 2 
Module 12: Ratio Analysis Foundation
1  Horizontal and Vertical Analysis 
2  Income Statement Horizontal and Vertical Analysis Example 
3  Balance Sheet Vertical Analysis Example 
4  Introduction to Ratio Analysis 
5  Activity Ratios 
6  Activity Ratios Receivables Turnover 
7  Activity Ratios Inventory and Payables Turnover 
8  Activity Ratios Cash Conversion Cycle Discussion 
9  Activity Ratios Working Capital and Fixed Asset Turnover 
10  Liquidity Ratios 
11  Solvency Ratios 
12  Profitability Ratios 
13  Comprehensive Example Activity Ratio Cash Conversion Part 1 
14  Comprehensive Example Activity Ratio Cash Conversion Part 2 
15  Comprehensive Example Activity Ratio Working Capital and Fixed Asset Turnover 
16  Comprehensive Example Liquidity Ratios 
17  Comprehensive Example Solvency Ratios 
18  Comprehensive Example Profitability Ratios 
19  ROE 
20  ROE Example 
21  Dividends Payout Ratio 
Module 13: Banking
1  Balance sheet to Income statement 
2  Balance sheet to Income statement Continued 
3  Balance sheet to Income statement Ratios 
4  Securitization 
5  Income Statement comparison 
6  Income Statement comparison Continued 
7  Cash Flow statement Comparison 
8  LLR Calculations 
9  LLR Calculations Continued 
10  LLR calculations Gross Charge offs 
11  LLR calculations Change in Collateral 
12  Regulatory Requirements & Capital Adequacy 
13  How well Capitalized are banks 
14  Problems with Basel I 
15  Basel II Norms 
16  Basel III Norms 
17  Introduction to Loan Loss Reserve Projections 
18  Calculating Growth rates for Loans 
19  Forecasting Loan Values 
20  Loan Loss Reserve Effect of Loans 
21  Loan Loss Reserve Understanding LLR 
22  Loan Loss Reserve Consumer Chargeoffs 
23  Loan Loss Reserve NonUS Chargeoffs & Recoveries 
24  Chargeoffs & Recoveries Assumptions & Projections 
25  Calculating Recoveries 
26  Calculating Average Loan Balance 
27  Adjusting the Chargeoff formula 
28  Projecting Cash, Deposits, Securities, Trading assets 
29  Projecting Securities borrowed 
30  Projecting Mortgage Servicing Rights 
31  Projecting Balance Sheet Liabilities 
32  Introduction to Interest bearing assets & liabilties 
33  Interest bearing assets & liabilities continued 
34  Calculating Interest Rate Spread 
35  Income Statement projections Introduction 
36  Income Statement projections Revenue items 
37  Lending & Deposit fees and Asset Management 
38  Mortgage fees & Credit Card Income 
39  Forecasting NonInterest Expense 
41  Cash Flow StatementOperating activity Continued 
42  Cash Flow StatementInvesting Activity 
43  Cash Flow StatementFinancing Activity 
44  Linking the Financial Statements 
45  Federal Funds Calculations 
46  Capital Adequacy Intoduction 
47  Capital Adequacy Tier 1 Capital 
48  Capital Adequacy Tier 2 Capital 
49  Capital Adequacy Average assets 
50  Dividends & Stock Repurchase Introduction 
51  Dividends Payout Ratio 
52  Stock Repurchase 
53  Calculating number of Stock Repurchase 
54  Ending, Basic and Shares outstanding 
Module 14: Real Estate
1  Introduction 
2  Steps of Financial Modeling 
3  Explaining Approaches and Formatting Part 1 
4  Explaining Approaches and Formatting Part 2 
5  Punching Income Statement Part 1 
6  Punching Income Statement Part 2 
7  Punching Balance Sheet and Cash Flow Part 1 
8  Punching Balance Sheet and Cash Flow Part 2 
9  Taking Assumptions 
10  Taking Appropriate Assumptions in Real Estate Models 
11  Drivers and Income statement with linkage 
12  Forecasting income statement 
13  Balance Sheet and Cash Flow Forecasting 
14  Ratio Analysis 
15  How to Value a Real Estate Model 
16  How to Value a Real Estate Model Continue 
17  Report Writing 
18  Investment Thesis 
19  How to Write a Real Estate Equity Report 
Module 15: Energy
1  Introduction to Modeling of US Oil and Gas 
2  Overview of Industry 
3  Various Types of Oil and Gas Producers 
4  Environment and Supply Aspects 
5  Industry overview in India 
6  Understanding SEC filings 
7  Understanding SEC filings Continues 
8  Overview of Company 
9  Steps of Financial Modeling 
10  Explaining Financial Statements in Details 
11  More on Explaining Financial Statements 
12  Punching Historical 
13  Punching Historical Continues 
14  Working on Cash Flow Sheet 
15  Cash Flow from Operating Activities 
16  Revenue and Cost Drivers 
17  Revenue and Cost Drivers Continues 
18  Forecasting Financial Statements 
19  Forecasting Financial Statements Continues 
20  Working on Debt 
21  Working on Drivers Sheet 
22  More on Drivers Sheet 
23  Linking the Balance Sheet 
24  Calculation of Free Cash Flow 
25  Calculating WACC 
26  Explaining DCF Method 
27  Explaining Relative Valuation 
28  Calculation Ratios 
29  Calculation Ratios Continues 
30  Calculating Price to Share Ratio 
Module 16: Capital Goods
1  Introduction to Praj Industries Ltd 
2  How Company Makes Ethanol 
3  Ethanol Industry Overview 
4  Ethanol Segment 
5  Learn Emerging Market 
6  Punching Qtrly Consol Income Statement (IS) 
7  Management Highlights 
8  Quarterly Income Statement Analysis 
9  Key Developments 
10  Punching Quarterly Standalone Income Statement 
11  Punching Quarterly Standalone Income Statement Continues 
12  Linkages of Console Yearly Income 
13  More on Console Yearly Income Statement 
14  Calculating Total Revenue 
15  Punching Consolidated Balance Sheet items 
16  Punching Consolidated Balance Sheet items Continues 
17  Punching Consolidated Cash Flow Items 
18  Projecting Actual FY16 Cash Flow without Annual Report 
19  Projections of Petrol Demand in India 
20  Petroleum Planning and Analysis Cell 
21  Projections of Ethanol Demand 
22  Incremental Order Flows for EPC Players 
23  Sensitivity Analysis for Overall Order Flows 
24  Projection of Brewery Order Flows 
25  Console Assumption Sheet 
26  Projection of Emerging Market Order Flows 
27  Projections of Revenues 
28  More on Projections of Revenues 
29  Projection of Operating Cost 
30  Projection of Operating Cost Continues 
31  Operating Margins 
32  Linking Operating Margins 
33  How to Calculate Forex Gain or Loss 
34  How to Calculate Forex Gain or Loss Continues 
35  Projection of Other Income 
36  Projection of Depreciation 
37  Projection of Amortization 
38  Projection of Finance Cost 
39  Projection other Income Statement Items 
40  Projection of Balance Sheet Items 
41  Projection of Balance Sheet Items Continues 
42  Calculating Trade Payable 
43  Projection of Cash Flow Statement 
44  Projection of Cash Flow Statement Continues 
45  How to Draw 1 Year Rolling PE Chart 
46  How to Draw 1 Year Rolling PE Chart Continues 
47  How to Draw 2 year Rolling PE Chart 
48  Preparation of Summary Sheet 
49  Preparation of Summary Sheet Continue 
50  Equity Research of Capital Goods Industry 
Module 17: Media
1  Media Sector 1 
2  Media Sector 2 
3  Media Sector 3 
4  Media Sector 4 
5  Introduction of FM 
6  Revenue Build Up Schedule Part 1 
7  Revenue Build Up Schedule Part 2 
8  Cost Sheet Schedule Cost Sheet final 
9  Working Capital Schedule Part 1 
10  Working Capital Schedule Part 2 
11  Depreciation Schedule Part 1 
12  Depreciation Schedule Part 2 
13  Depreciation Schedule Part 3 
14  Amortisation Schedule Part 1 
15  Amortisation Schedule Part 2 
16  Income Statement 
17  Shareholders Equity Schedule 
18  Balance Sheet 
19  Cash Flow Statement 
20  Debt Schedule Part 1 
21  Debt Schedule Part 2 
22  Horizontal and Vertical analysis 
23  Ratio Analysis Part 1 
24  Ratio Analysis Part 2 
25  DCF Valuation Part 1 
26  DCF Valuation Part 2 
27  DCF Valuation Part 3 
28  DCF Valuation Part 4 
29  Relative Valuation Part 1 
30  Relative Valuation Part 2 
Module 18: Telecom
1  Industry Overview 1 
2  Key Market Players And Their Profile 
3  Company profile 
4  Populating the Historicals 
5  Horizontal and Vertical Analysis 
6  Ratio analysis 
7  Revenue Build up 
8  Cost Sheet 
9  Depreciation Schedule Part 1 
10  Depreciation Schedule Part 2 
11  Depreciation Schedule Part 3 
12  Amortization schedule 
13  Working capital Management 
14  Shareholders Equity Schedule 
15  Debt Schedule Part 1 
16  Debt Schedule Part 2 
17  Completing the financial statements 
18  EPS calculations and Formatting 
19  Summarizing the Model 
20  Introduction to DCF and FCFF Calculation 
21  WACC Calculations 
22  Calculating the target price 
23  Sensitivity Analysis 
24  Calculating the PE 
25  Calculating EV by EBITDA 
26  Recommendation Report 
Module 19: Retail
1  Populating the Historical Values 
2  Revenue Build up part 1 
3  Revenue build up part 2 
4  Revenue build up part 3 final 
5  Cost sheet calculations 
6  Working capital management part 1 
7  Ratios and Assumptions part 1 
8  Ratios and Assumptions part 2 
9  CapexBase Equation 
10  Depreciation schedule part 1 
11  Calculating depreciation part 2 
12  Amortization schedule 
13  Linking the income statement 
14  Linking the balance sheet 
15  Linking the cash flow statement 
16  Shareholders equity schedule 
17  Debt schedule part 1 
18  Debt schedule part 2 
19  Debt schedule part 3 
20  Debt schedule part 4 
21  Completing the missing links 
Module 20: Healthcare
1  Introduction to Claris Lifescience 
2  Financial Performance 
3  Difference Between Injectables and Infusion 
4  Competitive Dynamics of the Industry 
5  Financial Statement Introduction 
6  Financial Statement Introduction Continue 
7  Quarterly Income Statement Analysis 
8  Quarterly Income Statement Analysis Continue 
9  Linkages of Yearly Income Statement from Qtrly Data 
10  Understanding About the Balance Sheet Items 
11  Understanding About the Balance Sheet Items Continue 
12  Understanding on Cash flow Statement 
13  Understanding on Cash flow statement Continue 
14  How to Create Assumption Sheet? 
15  Projection of Segmental Revenue 
16  Projection of EBITDA and Operational Cost 
17  Projection of EBITDA and Operational Cost Continue 
18  Projection of Other Income 
19  Calculating Depreciation 
20  Calculating Projection of Amortization 
21  Projection of Finance Cost 
22  Continue on Finance Cost 
23  Projection of Tax Rate and Completion 
24  Continue on Tax Rate Completion 
25  Projection of Balance Sheet Items 
26  Projection of Cash Flow Statement 
27  How to Calculate Beta of Stock in MS Excel 
28  Calculation of WACC and Cost of Equity 
29  Valuation of Share Based on FCFF 
30  Equity Value Per Share Calculation 
31  Calculation First and Second FWD PE Multiple 
32  Introduction to Pharmaceutical sector 
33  Importance of Pharmaceutical Company 
34  Forecasting of Key Line Items 
35  What is API ? 
36  What is Generic ? 
37  Pharmaceutical Model of Arvinda Pharma Limited 
38  Consolidated Balance Sheet 
39  Consolidated Statement of Profit and Loss 
40  Punching Balance Sheet 
41  Punching Cash Flow Statement 
42  Punching Cash Flow Statement Continue 
43  Forecasting Revenue 
44  Forecasting Revenue Continue 
45  Forecasting Key Cost Items 
46  Forecasting Key Cost Items Continue 
47  Forecasting FA and Depreciation 
48  Forecasting FA and Depreciation Continue 
49  PBT Forecast 
50  PBT Forecast Continue 
51  Profit Before Tax 
52  More on Profit Before Tax 
53  Forecasting of Balance Sheet Key Items 
54  Forecasting Trade Payable 
55  Forecasting Investors and Receivable 
56  Linking Balance Sheet and Cash Flow Part 1 
57  Linking Balance Sheet and Cash Flow Part 2 
58  Linking Balance Sheet and Cash Flow Part 3 
59  Linking Balance Sheet and Cash Flow Part 4 
60  Ratio Analysis 
61  More on Ratio Analysis 
62  Leverage Ratio 
63  Valuation and Devaluation Ratios 
64  Calculate WCC 
65  Calculate FCF 
66  Relative valuation 
67  Valuation Ratios and Recommendation on Stock 
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