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New York Institute of Finance

Corporate Finance & Valuation Methods Professional Certificate

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Next dates

May 6—10
5 days
New York, New York, United States
USD 3899
USD 779 per day
Oct 28—Nov 1
5 days
New York, New York, United States
USD 3119
USD 623 per day

Description

Understand how the key principles of project analysis, budgeting, and valuation decide a firm's optimal capital structure.

Prerequisite knowledge:

  • Basic MS Excel skills
  • Some familiarity with financial instruments and markets
  • Elementary probability theory

CURRICULUM

Day 1

MODULE 1: INTRODUCTION AND OVERVIEW

  • Time value of money
  • Present and future value
  • Compounding (annual, periodic, continuous)
  • Annuities and perpetuities
  • Complex problems

MODULE 2: PROJECT ANALYSIS

  • Payback and discounted payback
  • Internal rate of return (IRR) and modified IRR
  • Net present value (NPV)
  • EVA
  • Pros and cons of each

Day 2

MODULE 1: DISCOUNTED CASH FLOW VALUATION

  • Brief Review of Financial Statements
  • Overview of DCF and intrinsic valuation
  • Determining Cash Flows
  • Real vs nominal returns

MODULE 2: TERMINAL VALUE

  • Asset values
  • Comparables
  • Perpetuities and growing perpetuities
  • Enterprise Value vs Equity Value

Day 3

MODULE 1: COST OF CAPITAL

  • Risk and return overview
  • Cost of Debt
  • Straight
  • Convertible
  • Cost of Equity
  • Capital Asset Pricing Model
  • Alpha
  • Beta
  • Equity risk premium
  • Other methods
  • Weighted Average Cost of Capital

Day 4

MODULE 1: CAPITAL STRUCTURE

  • -n theory
  • MM
  • In practice
  • Costs of financial distress
  • Optimal capital structure
  • Adjusted Present Value
  • Differences to WACC valuation process
  • Pros and cons
  • Peer Group Valuation
  • Selecting the peer group
  • Key ratios
  • P/Es, EV/EBITDA, etc

Day 5

MODULE 1: FINANCING THE CORPORATION (AND TRANSACTIONS)

  • Bank lending
  • Term loans and lines of credit
  • Bilateral and syndicated loans
  • Debt
  • Investment grade
  • High yield
  • Convertibles
  • Preferreds
  • Equity
  • Private Equity
  • Venture Capital
  • Private Equity
  • Public Equity
  • IPOs
  • Secondary (US)/ Rights Offerings (Europe)
  • Mergers & Acquisitions
  • Rationale
  • Payment
  • Leveraged Buyouts / Management Buyouts
  • Wrap-up case study

MODULE 2: DESK READY SKILLS KNOWLEDGE CHECK

WHAT YOU'LL LEARN

  • Define and review the time value of money concept
  • Examine project analysis and risk/return
  • Discuss discounted cash flow valuation
  • Define and review the cost of capital
  • Review and discuss financing alternatives for corporations
  • Examine various corporate finance transactions and cases

Who should attend

  • Entry level finance professionals
  • investment professionals
  • research analysts and corporate bankers
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