Curriculum

  • Understanding global investment banking roles and skills required
  • Senior investment banker introduction and understanding of delegates background
  • Preparing Income, Cash Flow statements and Balance Sheet
  • Private Equity and Leveraged Buyout
  • Mergers & Acquisitions (M&A)
  • Equity Research, Debt Syndication and Project Finance
  • Executive Management
  • Analyse performance, efficiency and capital markets
  • Basics of capital investment techniques (NPV, IRR, cash returns and payback)
  • Data collection
  • Use of databases
  • Preparation of real company pitch and teaser
  • Preparation of confidential information memorandum (CIM)
  • M&A/sell-side process
  • Private equity/buy side process
  • Fundamentals of valuation
    • Equity value
    • Enterprise value
    • Calculation of diluted shares outstanding
    • Normalizing the numbers
    • Latest/trailing twelve months
    • Calendarization of different reporting months
  • Selecting a peer group of comparable companies
  • Gathering the information on the peer group
  • Benchmarking the comps
  • Determining valuation
  • Determine key performance drivers of the company
  • Calculating free cash flow to equity holders
  • Projection of sales, EBITDA, EBIT and EPS for 5/10 years
  • Projection of tangible and intangible assets
  • Projection of capital expenditure and net working capital
  • Calculating industry practiced other assets and liability
  • Determining the weighted average cost of capital (WACC) of public listed and private companies
  • Determining terminal value by
    • Exit multiple method
    • Perpetuity growth method
  • Sensitivity and scenario analysis of WACC, sales and enterprise value of the company
  • Overview of best investment banking practices for financial modelling
  • Setting up the model for historic and 5 years projections
  • Preparation of Income and Cash Flow statements and Balance Sheet
  • Industry accepted assumptions and their logic for sales growth, COGS, EBITDA, working capital and Capital expenditure
  • Depreciation and amortization of assets
  • Forecasting net working capital and its importance in valuation
  • Preparation of Debt, Interest and Cash sweep function
  • Shareholder’s equity schedules
  • Integration of Cash Flow, Income Statement and Balance Sheet
  • Comparing your per share price valuation with real-time market price to recommend Buy/Hold/Sell the share
  • How to handle circularity and referencing in financial modelling
  • Selecting a peer group based on market conditions and deal dynamics
  • Gathering the information
  • Purchase consideration (Cash/Stock or both)
  • Spreading the numbers in financial model
  • Benchmark and determine the premium
  • Adjustment of synergies in the transaction premium
  • Characteristics and economic of LBO
  • Financing mix of the transaction
  • Credit ratios and investment maximization
  • Exit strategies by private equity players and value measurements of the investment
  • M&A accretion and dilution (A-D) modelling
  • Calculation of pre and post tax synergy in A-D analysis
  • Income statement impact
  • Balance sheet and credit rating impact
  • Leveraged buyout investment return analysis (Cash returns & IRR)
  • Modeling of all stakeholders (Financial sponsor, Lenders and Seller) in LBO
  • Technical writing and communication

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