Core Comprehensive

Financial Modeling & Corporate Valuation

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

Upcoming Courses

IN-PERSON

New York

3/4 - 3/8

VIRTUAL

Pacific US Time

3/4 - 3/8

IN-PERSON

Frankfurt

3/18 - 3/22

IN-PERSON

Singapore

3/18 - 3/22

IN-PERSON

Chicago

3/18 - 3/22

Upcoming Courses

IN-PERSON

New York

3/4 - 3/8

VIRTUAL

Pacific US Time

3/4 - 3/8

IN-PERSON

Frankfurt

3/18 - 3/22

IN-PERSON

Singapore

3/18 - 3/22

IN-PERSON

Chicago

3/18 - 3/22

Learn techniques we teach around the world...

Learn techniques we teach around the world...

Utilizing the same case study based approach delivered for our corporate clients, these courses provide hands-on, real world, practical applications of the standards and methods that a professional needs.

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

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.

What you will learn?

  • Excel Best Practices and Efficiencies
  • Financial Modeling
  • Comparables Analysis
  • Discounted Cash Flow
  • Merger Consequences Analysis
  • Leveraged Buyout Analysis
What you will learn?

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
  • 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
  • Analyzing a “Football field” for the case company based on different valuation methodologies

Merger Consequences Analysis

  • Concept of affordability analysis
  • 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)
  • Mechanics of constructing an LBO model
  • Exercise: Constructing an LBO model for the case company

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”.

Who Is This Course For?

  • Firms that need small groups or individuals up to speed quickly (new, lateral, or off-cycle hires)
  • Financial services professionals (investment banking analysts or associates, consulting, research, asset management, private equity, brokerage, sales & trading, insurance, etc.)
  • Corporate/strategic development or finance team members
  • Individuals responsible for product or divisional budgets, projections, and profit/loss statements
  • Those looking to enhance past learning in finance and financial statement analysis
What Does A Day Look Like?
Course Details

Course Details

What’s Included

  • Instructor-led classroom training
  • Ongoing instructor support
  • One-year online access to course materials, Excel files, and related self-study courses for additional reference and review

Schedule

9:00 am to 5:00 pm each day with an hour lunch around noon and shorter breaks throughout the day.

Prerequisites

Fundamental knowledge of financial accounting: TTS recommends our self-study book, Fundamentals of Financial Accounting and Analysis.  For additional information please visit TTSAcademy.com

How Do You Like To Learn?

In-Person Training

Flexible Learning Options
Our courses are available in both in-person or virtual classroom formats. If you learn better in your own space or traveling isn’t convenient, virtual is great solution. Either way, you get the skills and support you need to succeed.

Virtual Training

Course Pricing

$1,150 USD per day*

* register at least 30 days in advance

Standard registration inside 30 days:
$1,250 USD per day

– Group rates available
– Discounts offered to existing clients

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 reserves 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.

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