Week 1: 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: 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: Basic 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: Basic 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 5: 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: Advanced 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 7: M&A Considerations

• M&A Process
• Cash flow/headroom available for strategic purposes
• Cash and stock mix for deal financing
• Accretion/ dilution analysis
• Potential credit rating impact

Week 9: Revision Week

Week 10: Placement Week

Week 8: 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