CFAP is pleased to offer, in partnership with Wall Street Prep, one of the investment profession's most popular courses. This goal of this program is to equip busy professionals and students with the financial skills they need on the job.
During this intensive 2-day training, participants will learn financial and valuation modeling in Excel using a hands-on, case-study approach.
Modeling methodologies covered include financial statement modeling, valuation & DCF modeling and trading & transaction comps modeling. Instructors are all practitioners (investment bankers, equity research analysts, etc.) with a passion for teaching and years of directly relevant real-world experience.
Day 1: Financial Statement Modeling in Excel
Participants develop a model completely from scratch, inputting historical data and assumptions to project out financial statements using step-by-step instruction on selecting, locating, and developing appropriate projection drivers. At completion, participants will have developed a complete and comprehensive three-statement model using various supporting schedules.
Day 2: Valuation and DCF Modeling
Valuation represents the heart of the investment banking and corporate finance skill set. Before building valuation models, participants will learn the conceptual underpinnings of the valuation framework:
- Enterprise valuation vs. market valuation
- Intrinsic valuation vs. relative valuation
- Participants identify and analyze the elements of the financial statement that are key to the value of an enterprise.
- Treatment of options, preferred stock, minority interests, debt, cash and marketable securities
- An overview to market-based and intrinsic valuation, including comparable company analysis and comparable transaction analysis using appropriate equity and enterprise value multiples (PE, EV/EBITDA,etc.), as well as DCF and LBO valuation.
Modeling exercises will address common pitfalls and the status of changing accounting treatments, and typical adjustments required for arriving at pro forma financial projections.