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Core Comprehensive:
Financial Modeling & Corporate Valuation

Learn the modeling and valuation skills needed to be top performer.

Instructor-led courses, learn in-person or virtually

Learn the techniques we teach around the world...

Case study based curriculum provides hands on, real world, practical applications of the standards and methods that a professional needs.

Led by our experienced instruction team of former practitioners, you get a unique blend of industry insight combined with a passion for teaching.  The average TTS instructor has been part of the team for 8.5 years. 

Participants who choose to attend all courses will blend accounting, finance, and Excel skills into the construction of three interactive models from “scratch” (3 statement, M&A, and LBO).

Excel Best Practices and Efficiencies

Industry Standards and Protocols

Troubleshooting the Model

Putting your Model to Work

Corporate Valuation

Merger Consequences Analysis & Modeling

Leveraged Buyout Analysis & Modeling

Clients we work with

Course Details

Schedule

9:00 am to 5:00 pm Monday – Thursday, 8:30 am to 4:30 pm Friday. Along with an hour lunch around noon, there will be shorter breaks throughout the day.

What does a day look like?

Whether you join us in-person or virtually, the classroom is a combination of micro-lectures and hands-on exercises that ensure retention levels are high and students stay engaged.  You’ll use some of the most innovative Excel based learning tools available, providing instant performance feedback as well as the opportunity for as many “reps” as you need to be “desk ready”.

What’s Included?

1 year access to the TTS Portal
Related Self-study courses for addtional reference and review
Course materials and Excel Files

What’s the TTS Portal?

The TTS Portal is our proprietry Learning Management System (LMS) that we utilize in or our coporate programs.  As a student, you have access to the same online learning tools during class and for additional practices post-training.

Prerequisites

The course presumes a working knowlege of financial statements (what they are, and how they work together).  TTS recommends our self-study, Fundamentals of Financial Accounting and Analysis book avaialable on TTSAcademy.com

Cancellation Policy

Cancellations up to 14 days before the workshop will receive a full refund. Cancellations within 14 days of a course will not be refunded. TTS reserve the right, at its sole discretion, to cancel a course. If TTS cancels a course, payments are refunded in full.

Questions? Please contact info@trainingthestreet.com for more information.

Core Comprehensive Agenda

Financial Modeling & Advanced Sensitivity Analysis

Overview and introduction to financial modeling

Excel best practices and efficiencies
Construction and Application of:

  • Core statements
  • Working capital schedule
  • Depreciation schedule
  • Amortization schedule
  • Other long-term items schedule
  • Equity schedule
  • Shares outstanding schedule
  • Debt and interest schedule

Troubleshooting the Model:

  • Understanding and controlling for circular references
  • Balancing the model
  • Making the model “deal ready”

Utilizing the Finished Product:

  • Data tables

Advanced Sensitivity Analysis:

  • Adding scenarios to the model
  • Creating a toggle for cases and naming cells

Public & Acquisition Comparables and Discounted Cash Flow Analysis

Overview of valuation methodologies and fundamental concepts
Public Comparables Analysis:

  • Choosing the appropriate peer group
  • Gathering public information
  • Calculating market and enterprise value
  • Normalizing for non-recurring items
  • Calculating latest twelve months (LTM)
  • Calculating relevant multiples
  • Deriving an implied valuation range
  • Analyzing multiples and a comparables universe
  • Exercise: “Spreading public comparables” for the case company

Overview of Acquisition Comparables Analysis:

  • Choosing the appropriate deal list
  • How control premiums and synergies impact multiples
  • Sources of public information

Discounted Cash Flow Analysis:

  • Strengths and considerations of a DCF analysis
  • Deriving a weighted average cost of capital (WACC)
  • Discounting unlevered free cash flows
  • Estimating the terminal value (exit multiple vs. perpetuity growth rate approach)
  • Determining the valuation range based on DCF analysis
  • Exercise: Adding DCF output to a 3-statement model for the case company

Analyzing Results:

  • Imputing valuation ranges
  • Creating a “Football field” for the case company based on different valuation methodologies

Merger Consequences Analysis

Merger Consequences Analysis:

  • Concept of affordability analysis
  • Overview of SFAS 141/142 and IFRS 3
  • Purchase accounting overview
  • Creation of goodwill and write-ups, including possible incremental D&A
  • Opening balance sheet and purchase accounting adjustments
  • Pro forma income statement
  • Accretion/dilution analysis
  • Credit rating considerations
  • M&A transaction considerations(stock vs. cash, social issues, etc)
  • Asset vs. stock purchase
  • Tax deductibility of goodwill
  • Section 338 election
  • Exercise: Building an M&A model for a potential acquisition of the case company

Leveraged Buyout Analysis

  • What makes a good LBO candidate?
  • Concept of value creation via de-leveraging, operational improvements and “multiple expansion”
  • Sources of funding for an LBO
  • Differing viewpoints for LBO constituents
  • Purchase price determination
  • Debt capacity and financing options (Pro rata facilities, institutional facilities, mezzanine capital)
  • Sponsors equity and internal rate of return (IRR)
  • Fundamentals of “recapitalization accounting”
  • Mechanics of constructing an LBO model
  • Exercise: Constructing an LBO model for the case company

Virtual Learning Option

Training The Street also delivers our industry-leading programs in a virtual setting. Our instructors weave a unique blend of technology, pedagogy, and content to create an interactive experience that’s engaging and effective. To make our virtual classrooms come alive, we use these strategies and tools:

  • Dynamic mixture of instructor-led, self-led, and group activities
  • On-demand virtual access to instructors and teaching associates
  • Proactive and frequent student check-ins to make sure no student gets lost
  • Breakout rooms for group collaboration and one-on-one support 
  • Interactive polls, games and competitions

Course Pricing

$1,100 per day*

*register at least 14 days in advance

Standard Registration:
$1,250 per day

– Group rates are available
– Discounts offered to existing clients
– Dubai courses require 5% UAE VAT 

Questions? Please contact info@trainingthestreet.com for more information.