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Financial Modeling and Valuation WorkshopLive Class
Our financial and valuation modeling training is a 2-day accelerated workshop specially designed to help you master spreadsheet financial models and business valuation techniques. By attending this 2-day workshop, you will be able to effectively build financial models, prepare and forecast schedules, and understand and analyze business drivers, in addition to conducting a thorough analysis of financial information. The workshop will feature Apple Inc. financial modeling process from scratch.
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Key Features
Live Online Classes PREFERRED
Overview
Our Financial and Valuation Modeling Live Online Training covers more than 16 hours of comprehensive, interactive, and instructor-led training with real-life case studies, thus imparting working knowledge of crucial financial modeling and business valuation principles.
Live Online Classes Curriculum Download Curriculum
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Module 01 – Financial Modeling
Introduction to Modeling
- Introduction to financial modeling
- Why financial models are used?
- What skills are needed for financial modeling?
- General structure and model design
- Historical data
- Sources of information
- Presentation of historical data
- Analysis of historical data
- Building the model
- Core statements
Projecting Schedules
- Revenues
- Costs
- Fixed asset, capital expenditure, and depreciation schedule
- Capital lease schedule
- Working capital and change in working capital schedule
- Completion of income statement logic
- Shareholders’ equity schedule
- Individual schedules of inventory, receivables, and other working capital categories
- Debt and debt repayment schedule
- Schedules of investments and dividends received
Drivers
- Income statement drivers
- Revenues
- Costs
- Operating expenses
- Other income statement items
- Income taxes
- Balance sheet drivers - assets
- Working capital
- Cash and cash equivalents
- Accounts receivables
- Inventories
- Fixed assets (PPE, depreciation and net fixed assets)
- Non-consolidated subsidiaries
- Balance sheet drivers – liabilities
- Short term debt
- Accounts payable
- Accrued liabilities, and other current Liabilities
- Minority interest
- Equity
Balancing Act
- Balancing the balance sheet
- Calculating cash flow from operations
- Calculating cash flow from investing activities
- Calculating cash from financing activities
- Calculating net cash flows
- Introduction to financial modeling
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Module 02 – Business Valuations
Valuation Overview
- Valuation overview
- Why valuation?
- Importance of valuation
- Valuation approach
- Key valuation tools
- Valuation summary table
- Key valuation questions
- Valuation – subjectivity versus objectivity
- Introduction to discounted cash flow
- Discounted cash flow
- Overview of discounted cash flow
- Steps in a Discounted cash flow (DCF)
Discounted Cash Flows
- Free cash flow
- Valuing a firm using free cash flow to firm (FCFF)
- Valuing a Firm using free cash flow to equity (FCFE)
- Suitability of FCFF and FCFE
- Discounted cash flow projections
- Sales
- Operating expenses
- Depreciation
- Capital expenditure
- Income tax
- Working capital
- Projections – some questions?
Terminal Value
- Terminal value overview
- Exit value method
- Exit multiple exercise
- Perpetuity growth method
- Perpetuity growth exercise
- Terminal value spot check
- Terminal value concerns
Discount Rate
- Discount rate overview
- Discount rate – cost of debt
- Yield to maturity method
- Credit rating method
- Synthetic rating method
- Company report method (spot check!)
- Risks
- Unsystematic risk
- Systematic risk
Capital Asset Pricing Model
- Introduction to capital asset pricing model (CAPM)
- Risk-free rate
- Beta
- Calculation of regression beta
- Calculation of bottom-up beta – levered and unlevered beta
- Beta concern
- Preferred beta methodology
- Risks
- Unsystematic risk
- Systematic risk
- Market risk premium
- Historical risk premium method
- Forecast risk premium method
- Market risk premium: size premium
DCF Synthesis
- DCF – present value
- Discounting
- Mid-year discounting
- Valuation
- DCF – adjustments
- Sensitivity analysis
- FCF and terminal value using growth rate and WACC as inputs
- Enterprise value using growth rate and WACC as inputs
- Price/share using growth and WACC as inputs
- Effect on EPS by changing the value drivers
- Valuation overview
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