During this session delegates will cover the calculation of basic and fully diluted EPS. Delegates begin with basic keyboard drills and shortcuts, and then rapidly progress to efficient formula construction and basic modeling and checking techniques. Both a direct and an indirect cash flow statement will be produced. We then introduce average FX rates, increasing the model complexity, and we analyze the impact on the model. We also cover how to efficiently build the cash flow statement from scratch. This session covers the principles and reporting of taxes. Delegates complete a fully integrated model with an income statement, balance sheet and cash flow statement. The relationship between cash and changes in assets, liabilities and equity accounts is analyzed in detail, allowing delegates to understand the full integration of the income statement, balance sheet and cash flow statement. Delegates will then examine the life of a corporate and consider the debt and equity funding options that are available. The amount of time the firm has available until cash runs out is calculated. In this session delegates will cover the main debt products available to corporates. Through the process of building a more complex three statement model, delegates are taught how to model operating cash and calculate interest using average debt and average cash balances. This session covers the accounting for PIK instruments, bonds issued at a discount and convertible bonds. In this session we introduce the key characteristics of CDS and CDOs, describe their uses, and, using some case studies, show how they have influenced creditors’ behaviour, and what it may mean for a restructuring company. Delegates will identify the relevant cash flow changes and build the operating, investing and financing cash flows. Based in Princeton, New Jersey, the firm has conducted training for … Established in 1991, Pimley & Pimley Inc. is a leading provider of credit and corporate finance training programs around the world. This program … The session includes the analysis of how business seasonality generates working capital volatility, illustrated using a quarterly forecast model. The main issues and mechanisms for completion in an M&A transaction are explained. This session covers the more advanced areas of multiples and DCF valuation. We use the accounts of some failing firms as case studies. Learn how to build complex components of LBO models. Custom finance training for your organization. Ultimately financial statement analysis is only a tool to express views on a company. Finally, delegates will learn how to incorporate the value of synergies into their DCF model or any other valuation approach. Most importantly, the key investors and investees are covered in detail. How to Write an Investment and Credit Case. By the end of the session, delegates derive a rating for a case company. This session addresses four key complexities in M&A models: Non-coterminus year-ends, using a flexible deal date, currency translation and the creation of a non-controlling interest. We begin with forwards, futures and options to manage commodity price risk, using the case companies to illustrate. Whether you represent a large multinational corporation or a small local business, we have … Enterprise value and income statement adjustments are addressed for both DCF and multiples, using case company examples. Our programs help your executives and employees master essential business concepts. First, the importance of returns in relation to value creation is illustrated. AFP Corporate Training. The issues are the efficiency and integrity of the model. Tax losses and carry forwards are also covered as well as the deferred tax implications of M&A transactions. Delegates will learn how to calculate modified duration and dollar duration, and the topic of convexity will be introduced. Recent graduates employed … We then focus on the calculation of free cash flow. Finance isn’t simple, and we don’t all start jobs with the same level of experience. The session starts with an overview of the mergers regulation, filings, deadlines and pricing floors. The actual financials are integrated so that the financial forecast is up to date and there is a variance analysis output section. A comparable transaction analysis is performed on the case industry. A full debt schedule, including a cash sweep, is incorporated into the model. The concept of invested capital is then introduced and practical examples are used to show how to calculate the return on invested capital. Various kinds of debt instruments are identified, and the main equity accounts are examined. 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