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COURSE CONTENT

Week 1 (Days 1-5): Accounting Overview, Excel

Double entry and key accounting
   principles
Final accounts (P & L, balance sheet,
   cash flow)
Lease accounting
Deferred tax
Accounting for retirement benefits
Ratio analysis
Accounting for amalgamations -
   goodwill recognition and impairment
Group accounting - subsidiaries,
   associates and JV's
Overview of Microsoft Office Tools

Week 2 (Days 6-10): Company Profiles & Presentation Skills

Data gathering (research)
Structuring a company profile
Company description
Business/group structure, service lines
Key personnel
Summary financials
Share price chart
Recent events
Broker commentary
Key performance indicators
Flow of the pitch book


Week 3 (Days 11-15): Valuation: Trading Comparables

Gathering information
Choosing appropriate peer group
Calculating equity value and enterprise
   Value (EV)
Normalizing earnings
Calculating last twelve months (LTM)
Adjusting the enterprise value (EV)
Calculating fully diluted shares
   outstanding (options & convertibles)
Calculating various multiples
Checking and interpreting results
Plenty of practice!!

Week 4 (Days 16-18): Valuation: Transaction Comparables

Gathering information
Choosing appropriate deals
Discuss strategic rationale
Regulatory roadblocks/challenges
Control premiums, synergies
Calculating equity value and enterprise
   Value (EV)
Normalizing earnings
Calculating last twelve months (LTM)
Checking and interpreting results
Plenty of practice!!

Week 4 (Days 19-20): M&A Considerations

M&A Process
Cash and stock mix for deal financing
Accretion/ dilution analysis
Potential credit rating impact








Week 5 (Days 21-25): Valuation: Discounted Cash Flow(DCF)

Building forecasts
Calculating free cash flow (FCF)
Discounting cash flows
Terminal value calculation
Terminal growth rate
Levered & unlevered beta
Weighted Average Cost of Capital
Sensitivity (data) tables
Common pitfalls
Demonstrate big picture of valuation
Sum of parts (Sotp)

Week 6 (Days 26-28): Financial Modeling (company1, sector1

Overview of financial modeling
Best practices (in excel)
Industry drivers, revenue build up
Forecast expenses
Working capital schedule
Capex build up
Depreciation & amortization schedule
Equity and other schedules
Debt and interest schedule
Dealing with circular references
Balancing the balance sheet
Data tables
Calculating implied price per share

Week 6 (Days 29-30) & Week 7 (Day 31): Financial Modeling (company2, sector2)

Overview of financial modeling
Best practices (in excel)
Industry drivers, revenue build up
Forecast expenses
Working capital schedule
Capex build up
Depreciation & amortization schedule
Equity and other schedules
Debt and interest schedule
Dealing with circular references
Balancing the balance sheet
Data tables
Calculating implied price per share

Week 7 (Days 32-35): Revision Week