Accounting, Modelling & Valuation

Delegates

This five-day course will be invaluable to those who are new to the City and need an accelerated learning programme covering the critical areas of accounting, financial analysis, company valuation and financial modelling. All the latest theory is covered, along with practical application in today’s business environment.

Overview

This one-week interactive programme has been developed for those who are new to the City, or those who need a refresher on the latest theories and applications. The basic accounting and financial reporting rules are explained, and delegates are given an opportunity to analyse and appraise the financial performance of two FTSE-250 PLCs (based on their annual financial statements). The common theories of company valuation are explained, with a particular focus on the pros and cons of each technique, and when and where each method might be appropriate. These theories are then put into practice via the building (from scratch) of a fully integrated financial forecasting and valuation model. This is a practical, hands-on week designed to help delegates be much more effective professionals when they return to their desks..

Courses are capped at a maximum of 12 delegates to ensure participants receive the most effective training during the week. There are no specific pre-requisites for this course, although a knowledge of the basic accounting rules and simple excel functionality would be useful.

Please note that this programme should not be combined with Accounting & Financial Analysis - Introduction, Valuation Techniques (with Valuation Modelling), Financial Modelling - Introduction or Financial Modelling - Comprehensivedue to the overlap of content.

Venue may change up to 14-days before the course start date. Enquire for dates.

Learning outcomes include obtaining a greater understanding of:

Basic financial statement mechanics

• Cash flow statement, income statement and balance sheet
• Presentation and format of accounts
• Integration and links between the financial statements
• The dual effect of transactions

Accounting for:

• Sales, costs and working capital
• Non-current assets, tangible and intangible
• Financing arrangements, debt and leasing
• Provisions and other subjective areas

Financial analysis (using examples of FTSE-250 companies)

• Income statement margins and other profitability measures
• Interest cover and other financial KPIs
• Working capital assessment
• Asset turnover and other balance sheet metrics
• Financial gearing and leverage measures
• Return ratios, comparing the income statement with the balance sheet

Company valuation techniques

• The valuation balance sheet:enterprise value vs equity value
• Discounted cash flow (DCF) techniques – which cash flows to discount?
• Essential financial maths
• CAPM, discount rates and the cost of capital (WACC)
• Multiple valuation techniques (comps) – which multiple to use and why?
• Pros and cons of valuation methods

Financial modelling in excel – an introduction

• Shortcuts and basic excel functionality
• Best practice model set-up
• Use of styles and names
• Cleaning up the financial statements
• Workings – best practice set up
• Output worksheets – presentation, checks and balances
• Dealing with scenarios and switches
• Valuation worksheet
• Sensitivity analysis

Wrap up

• Summary and recap of 5 days
• Key learning outcomes reviewed