Financial Modeling Courses

Detailed Financial Modeling & Valuation Course Outline

The amount of lessons and detail you get with this package is pretty incredible. You can really accelerate your learning and go at your own pace with this self-study course. It has online video training and templates, so you get hands-on experience like you would as an analyst building financial models.

Excel Modeling

Introduction

• Learn the foundations of why Excel and main use cases
• Excel the best navigation across 7 videos
• Aggressive benchmark excercise to measure yourself

Efficiency and Formatting Foundations

• Quickeys and how to get fast at modeling
• Best practices in financial modeling in Excel
• Math functions in the context of IB/PE and finance careers

Logic & Data Functions

• Learn best practices for logic and data functions
• IF and Nested IF statements, ISERRORS and much more
• Insert circularity toggles and learn other tools for formula auditing
• Customize Excel for effective modeling using macro shortcuts

Lookup & Financial Functions

• Explore hlookup and vlookup in context of IB
• Scenarios, data tables and auditing
• Sorting, pivots and filtering

Financial Statement Modeling

Introduction

• Learn to integrate assumptions and drivers into financial models
• Excel techniques and shortcuts for financial modeling
• Learn formatting and structural best practices

Project the core financial statements

• Income statement, Balance sheet and Cash flow statement
• Supporting schedules: Working Capital, Deferred Taxes, PP&E / Depreciation, Intangible Assets, Retained Earnings and Debt & Interest
• Financial Ratios Output Sheet

Error-Proofing

• Learn best practices for check models for errors, accuracy and integrity
• Check and fix circular reference and iteration problems (#REF)
• Insert circularity toggles and learn other tools for formula auditing
• Balancing the model and inserting automated crosschecks

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LBO Modeling Overview

Build an integrated pro forma LBO projection model

• Using typical deal structures and current market metrics
• Build a dynamic Base/Best/Worst Case scenario toggles

Debt modeling

• Learn to integrate typical LBO debt structures, including
secured, unsecured, pref/mezzanine and PIK debt, convertible securities and equity sweeteners
• Build a revolving credit facility and cash sweep
• 杠杆收购的股权结构模型

Equity modeling

• Integrate typical equity structure, including management Incentives and rollover, Preferred Stock, contingencies and earn-outs
• Build a dynamic Sources and Uses of Funds Schedule
• Modeling Goodwill, and various transactional adjustments
• Build a returns analysis with XIRR functions
• Error-proofing and integrity-checking an LBO model.
• Build sensitivity tables required for correct analysis of an LBO, including the construction of multiples, and IRR tables using both data tables and various sorting functions in Excel, including VLOOKUPS, OFFSET, CHOOSE, and INDEX.

Updated Tax Module for Major Changes in 2017

• Learn how to build out dynamic tax integrations so that your returns are more accurate
• Accelerated Depreciation vs EBIT vs EBITDA considerations
• Future switches and toggles based on years
• Fully dynamic and robust model

Advanved Bonus Modules for Dividend Recaps + Rollup Strategy

• More details on purchase price accounting in context of an LBO
• Learn how to build in a dynamic dividend recap assumptions
• Learn how to build in add-on acquisitions like a pro for a common rollup strategy
• Future switches and toggles based on years
• Fully dynamic and robust model



M&A Modeling Overview






Accretion/Dilution Modeling
• Introduction to M&A and typical buy side and sell side processes
• Learn to perform both a back-of-the-envelope and extensive accretion-dilution analysis
• Project consolidated financial statements, and learn to make correct adjusting entries for goodwill and fair market value write ups, advisory fees and financing fees and debt refinancing
• Learn proper treatment of deferred taxes created in M&A and convertible securities and options
Output Analysis
• Sales, EBITDA, and ownership contribution analysis
• Calculating pre-tax synergies to break-even
• Sensitivity analysis using data tables to determine
accretion/dilution to target shareholders in various stock/cash scenarios
• Error-check a merger model
Topics in M&A
• A review of common deal structures
• A review of changes in the accounting for business combinations
• Understand the asset vs. stock purchase decision
• Address situations in which amortization may be tax-deductible
• A discussion of 338(h)(10) election and wholly owned subsidiary acquisitions



Valuation Modeling Overview






Selecting and Evaluation Appropriate Multiples
• Learn to select appropriate comparable companies by evaluating operational, financial, size, and other similarities
• Select comparable companies
• Input financial data
• Calculate and interpret financial and market ratios
• Common analytical challenges including calendarization, nonrecurring items, dilutive securities, and classification issues are addressed using industry best practices.
Presenting Trading and Transaction Comparable Analysis
• Structuring an output schedule
• Selecting key valuation multiples using the VLOOKUP function
• Building multiple tables



DCF Modeling Overview



Modeling free cash flows (FCF)
• Unlevered vs. levered FCF
• Capitalizing inappropriately classified expenses
• Handling stub periods and midyear adjustments
• Handling working capital items, deferred taxes and long-term accruals
• Integrating synergy assumptions into the DCF model
• Common pitfalls - enterprise vs. equity value, unlevered vs. levered FCF
Discounting the cash flows
• Deriving the cost of debt
• Derive the cost of equity using CAPM
• Delevering and relvering beta
• Estimating the weighted average cost of capital (WACC)
• Determining the optimal WACC
• Avoiding inconsistency between the FCF and discount rate
Estimating terminal value
• Perpetuity approach
• EBITDA multiple approach
• Common pitfalls
From enterprise value to equity value per share
• Calculating net debt and treatment of debt equivalents such as preferred stock, convertible securities, capital leases and minority interest
• Calculating options and convertible securities using both the standard and treasury stock methods
Sensitivity analysis
• Using data tables to analyze a broad range of scenarios given different assumptions


24 Month Unlimited E-Mail Based Support
The Elite Package is a self study program but you are not on your own. Wall Street Oasis Support Team is comprised entirely of experienced former investment bankers and private equity pros. Upon enrollment, students gain 24 month free and unlimited access to the WSO Online Support Center, embedded within each lesson, where they receive answers to questions, free downloads, and important updates from the support staff.
Prerequisites
AccountingThe program assumes a basic introductory knowledge of accounting (e.g. interaction of balance sheet, cash flow, and income statement). Students with no prior background in Accounting should enroll in a basic online accounting course in addition to the Self Study Program.

corporate financeAlthough general exposure to corporate finance is helpful, it is not required.ExcelBasic introductory Excel knowledge is not needed. Students with limited or no experience using Excel should start with the Excel Modeling Course prior to starting the other courses.




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