Financial Management Masterclass

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Course Description

MODULES

This training course is split into two modules:

MODULE I - Corporate Financial Planning, Budgeting & Control

MODULE II - Advanced Financial Statements Analysis

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a 2-week training course.

Course Outline

Module 1: Corporate Financial Planning, Budgeting & Control

DAY 1

Corporate Financial Planning

Strategic Planning
The Objective of the Firm – Meeting Shareholder & Stakeholder Objectives
Agency Theory – The Relationship between Shareholders & Management
Creative Accounting and the Case of Enron
Financial Management & Financial Planning – The Scope, Role & Responsibilities of Financial Management
Preparing a Financial Plan – The Master Budget
Forecasting Future Cash-flows and Financial Modelling
Time Series Analysis, Correlation & Regression

DAY 2

Financing the Plan

Sources of Finance – Long Term & Short Term
Evaluation of the Types of Finance - Equity vs. Debt Finance
Hybrid Finance & Financial Engineering
The Dividend Decision
The Cost of Capital and Weighted Average Cost of Capital (WACC)
Capital Asset Pricing Model (CAPM)
Accounting Rate of Return (ARR)
Net Present Value (NPV), Internal Rate of Return (IRR) Capital Rationing & Payback

DAY 3

Preparing & Managing Budgets to Support the Financial Plans

Definition of Budgets, the Budgetary Process and Budgetary Control
Types of Budgets-Fixed, Flexible, Incremental and Zero Based
The Purpose / Benefits & Problems / Limitations of Budgets
Setting / Implementing Effective Budgets - Eliminating the Problems
Responsibility Accounting and Absorption Costing
Activity-Based Budgeting / Costing (ABB, ABC)
Variance Analysis, Cost Behaviour, Break Even Analysis & Sensitivity / What If Analysis
What-If Analysis combined with Du-Pont Analysis

DAY 4

Managing and Controlling Cash Flow to Support the Financial Plan

Cash vs. Profit & The Cash Conversion Cycle
Calculating and Managing the Cash flow Cycle
Cash Flow Ratios
Working Capital
The Cost of Maintaining Working Capital
Maintaining the Optimum Level of Working Capital
Working Investment Ratios
Preparing a Monthly Cash Flow Forecast

DAY 5

Managing Financial Risk

Risk Management & Types of Risk
Identifying Risk – SWOT Analysis
The Major Quantitative & Qualitative Risks Facing Companies
Establishing a Risk Management Strategy
Financial Risk Management & Hedging Techniques
Managing Exchange Rate & Interest Rate Risk
Derivatives-Forwards, Futures, Options & Swaps
Risk Management Glossary of Terms

Module 2: Advanced Financial Statements Analysis

DAY 6

Introduction to Advanced Financial Analysis

Why analyse financial data?
Who are the users of Financial Information?
Sources of Financial Information
Published Annual Reports and Accounts – What is their purpose?
The Structure and Contents of an Annual Report and Accounts
Creative Accounting, Financial Scandals, and the Agency Problem
Corporate Governance, Sustainability, Ethics and Corporate and Social Responsibility (CSR) Reporting
The Three Main Financial Statements
- Income Statement
- Balance Sheet
- Statement of Cash Flows

DAY 7

Analysing the Annual Report and Accounts

Using Ratio and Other Analyses of the Annual Report and Accounts to Assess Financial Position and Financial Performance
Profitability and Cost-Volume-Profit (CVP) Analysis
Efficiency and Working Capital
Liquidity and the Short-term Solvency
Investment and Growth
Financial Structure and Long-term Solvency
Ratio Analysis using Excel
Excel Trend Analysis using Common-size Horizontal Analysis and Vertical Analysis for Comparability

DAY 8

Analytical Tools, Cash vs. Profit and the Cash Forecast

The Dupont System of Ratio Analysis and Pyramids of Ratios
Segmental Analysis and Value Added Analysis of the Annual Report and Accounts
The Fundamental Statistical Tools and Graphical Representations
Using Statistical Techniques to Analyse and Forecast Financial Data
The Impact of Alternative Asset Valuation Methods on the Balance Sheet and Profitability
Cash flow vs. Profit – The Best Measure of Financial Performance
Working Capital and the Cash Flow Operating Cycle
Direct and Indirect Cash Flow Analysis and the Cash Flow Forecast

DAY 9

Financing the Business, Capital Investment Project and Business Valuation

Analysis of the Balance Sheet to Identify Long-term Debt and Equity, and Short-term Financing
Capital Cost Models: Cost of Equity using Dividend Growth and Capital Asset Pricing Model (CAPM); Cost of Debt
Weighted Average Cost of Capital (WACC)
Optimal Capital Structure Models to Minimise WACC
Future Values, Present Values, and Discounted Cash Flow (DCF)
Using Net Present Value (NPV), Internal Rate of Return (IRR), Modified Internal Rate of Return (MIRR) and Equivalent Annual Cost (EAC) to Analyse and Evaluate Capital Projects
The Reasons for Business Valuations
Business Valuation Models

DAY 10

Analysing and Predicting Corporate Failure, Business and Financial Risk

Predicting Financial Distress and Corporate Railure – The Altman Z-score Model
Risk and Uncertainty
Risk Analysis using Expected Values, Standard Deviation and Coefficient of Variation
Sensitivity, Simulation, Scenario and Break-even Analysis Techniques
The Analytical Tools to Manage Risk
Systematic Risk, Unsystematic Risk, Business Risk and Financial Risk
Financial Risk– Interest Rate and Foreign Currency Exchange Rate Exposures
Using Insurance, Hedging and Derivatives to Mitigate and Minimise risk

Certificates

On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance

Providers and Associations

Endorsed Education Provider

GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org

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An Interactive 10-Day Training Course