Toronto, Canada March 31, 2011 1 Day Practical Workshop
C$ 550 per person. HST extra. Register by February 18, 2012 and receive a 20% early registration discount. Contact us for group discount rates.
Course instructors: Experienced VP-level investment bankers with CFA & CPA / CA designations.
Valuation of companies/projects is a direct derivative from financial modelling, and is essential for many finance occupations. Valuation skills are highly useful in the world of investment banking, corporate strategic planning, Mergers and Acquisitions (M&A), equity research and private equity, just to name a few. Apart from valuation modelling the seminar covers applied corporate finance, financial forecasting, Mergers and Acquisitions (M&A) and Leveraged Buyout (LBO) concepts.
This course satisfies the continuing educations requirements (7 Continuing Professional Development Hours) of the following professional designations: CA (CA Professional Development), CPA (CPA Continuing Professional Education), CFA, CMA, and ACA.
This practical valuation course is taught using formal lecture method combined with practical interactive exercises to reinforce the concepts covered in each teaching session. Practical and hands-on valuation modelling training experience is emphasized throughout the workshop.
Financial Modelling Group Inc. reserves a right to change or cancel any part of this seminar due to unforeseen circumstances. Participants will need to bring laptops with Microsoft Excel. A certificate will be issued to participants upon seminar completion.
Toronto, Canada March 31, 2012 Downtown Toronto Location.
This workshop takes place in a central Toronto facility from 9AM to 5PM. The course fee includes the use of the training facilities, meals and refreshments, course handouts, models and other applicable course documentation for the duration of the course. The course fee does not include the cost of accommodation.
Experienced VP-level investment bankers with CFA & CPA / CA designations.
Company Valuation Workshop
Toronto, Canada
March 31, 2012
Course Agenda
Introduction
¨ Finance theory refresher and introduction to valuation techniques
¨ Two perspectives on business valuation: Enterprise Value vs. Equity Value
¨ Overview of different valuation methodologies
¨ Increasing role of valuation analysis under IFRS (Goodwill and Financial Assets Impairment testing)
Discounted Cash Flow (DCF) valuation
¨ DCF analysis as the most universal valuation methodology
¨ Importance of a realistic Financial Model of a company for the DCF valuation
¨ Determination of the appropriate discount rate
¨ WACC (weighted average cost of capital) and Cost of Equity
¨ Terminal Value methodologies and considerations
¨ Valuation scenarios testing and results reporting
¨ Valuation results sensitivity analysis
¨ DCF Valuation case study (participants will perform a DCF valuation analysis based on the previously built financial model)
¨ Comparable companies (trading multiples) valuation as one of the most powerful valuation methodologies
¨ Most important multiples used: P/E, EV/EBITDA, EV/Sales, P/BV
¨ Finding comparable companies and their financial forecasts
¨ Financial results time frame (LFY, LTM, CFY, FY+1, FY+2)
¨ Comparable companies valuation exercise (participants will value the same company for which DCF valuation was performed)
Comparable transaction (multiples) valuation
¨ Application of the methodology
¨ Finding comparable transactions
¨ Interpreting the results. Business cycle considerations for cyclical industries.
¨ Comparable transaction valuation exercise (participants will value a company)
Other valuation methodologies - an overview
¨ Net Assets
¨ Adjusted Net Assets
¨ Liquidation value
Putting it all together - reporting a company value
¨ Approach to valuation when different methodologies used
¨ Treatment of outliers
¨ Use of average, medium and ranges
¨ Graphical representation
REFUND POLICY
Course participant cancellation or transfer requests must be made in writing (e-mail or fax) and reach Financial Modelling Group ("FMG") office at least 20 working days before the course commencement date. A full refund less a US$100 administration fee will be given. If you wish to send a replacement course participant, you must notify FMG in writing at least 20 working days before the course commencement date. Apart from the US$100 administration fee you will not incur any additional charges in case of such trasfer. Course participants who cancel less than 20 days before the course commencement date, or who do not attend, are liable to pay the full course fee and no refunds will be granted. If you wish to transfer to a different course within a six month period, and you have paid your course fee in full, you will be invoiced a 25% additional charge to transfer your registration plus any difference in course prices.
