Course Outline

Best Practice Financial Modeling (Intermediate)

Course Objectives By the end of this course, participants will be able to:

 Construct professional models  Understand how to build integrated models with additional valuation or analysis  Understanding the sensitivity of key drivers  Significantly improve efficiency of using shortcuts  Optimise the use of financial functions

Target Audience Professionals in corporates and financial institutions who wish to raise their financial valuation skills to a superior level. Attendees should have a good basic excel knowledge and basic accounting knowledge. This course is the ideal follow up to the Introduction to Financial Modeling.

Content Basics of financial modeling

 Projection of P&L, balance sheet and cash flow  Balancing numbers, circular references  Professional use of excel -protection, range names, data validation  Overview of useful functions (IF, MAX, MIN, NPV, IRR etc.)  Overview of effective shortkeys  Model exercises

Professional models

 What is a good model?  Modeling - from basic to professional  Flexible and user-friendly models  scenario analyses  sensitivity testing

Build your own model

 Building models from scratch  Provided with annual report and equity research report  Building a model with assumptions and key drivers  Is the share undervalued or overvalued?

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Course Outline

Valuation concept reviewed

 Refresher of company valuation techniques  Practical application of valuation constituents  Concept of valuation techniques  Key value drivers  WACC exercises  FCF exercises  TV exercises  From enterprise value to equity value

Additional applications of integrated financial models

 Additional applications reviewed  How to expand your model for additional analysis including:  Discounted cash flow  Leveraged finance  Overview of level of ratios in line with covenants

LBO modeling

 LBO financing concept reviewed  Different leverage options  Purchase considerations

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