Finance for Managers

Day 1

Fundamentals Of Financial Management

• Introduction To Financial Management

• Financial Decision Areas

• Other Financial Decision Areas

• Scope Of Financial Management

• Roles Of Financial Managers

Financial Forecasting

• Financial Forecasting

• Financing Requirement

• Components Of Financial Planning and forecasting

Time Value Of Money

• Introduction To the Time Theue Of Money

• Future Value Of A Single Amount

• PV Of Single Amounts And FV Of An Annuity

• Annuity And Sinking Fund

• Practical Applications Of Annuity

• PV Of Annuity - Practical Applications

• PV Of Growing Annuity And Perpetuity

Day 2

Financial Planning

• Financial Management & Financial Planning – the Scope, Role & Responsibilities of Financial Management

• Preparing a Financial Plan – The Master Budget

• Forecasting Future Cash-flows

  • Time Series Analysis

  • Correlation & Regression

• Financial Modelling

• Sensitivity/What-If Analysis

• What-If Analysis combined with Du-Pont Analysis

Day 3

Corporate Finance & Financial Engineering

• Raising Finance using traditional sources of Equity & Debt

• Evaluating the impact of Equity & Debt finance

• Money Market Instruments & Bonds

• The Concept of Financial Engineering

• Raising finance, trading, and hedging using financial engineered instruments

• The Dividend Decision: - whether to pay dividends or not

Day 4

The Cost of Capital & Capital Investment Appraisal

• The Cost of Capital

  • Weighted Average Cost of Capital (WACC)

  • Capital Asset Pricing Model (CAPM)

• The Capital Investment Process

• Capital Investment Appraisal

• Payback

• Accounting Rate of Return (ARR)

• Net Present Value (NPV)

• Internal Rate of Return (IRR)

• Capital Rationing

• Asset Replacement Decisions

• Controlling the Cost of Capital and the use of Derivatives

Day 5

Capital Budgeting and Techniques

• Introduction To Capital Budgeting

• Capital Budgeting Process

• Evaluating Investment Proposals

• Net Present Value Criteria

• Profitability Index And IRR

• Internal Rate Of Return

• Modified Internal Rate Of Return

• MIRR And Payback Period

• Accounting Rate Of Return

• Capital Budgeting In Practice

• Capital Budgeting Problems - NPV And IRR

• Capital Budgeting Problems - Mutually Exclusive Projects

Day 6

Financial Analysis

• The Role & Responsibilities of Financial Analysis and Management

  • Identifying key success factors in your industry sector

  • Financial review compared to targets and expectations and Variance Analysis

  • Financial performance measurement systems

• Ratio Analysis to evaluate Profitability, Liquidity, Operations and Leverage

• Du-Pont Analysis and Financial Modelling

• Altman and Z scores: - quantitative models to assess risk

• SWOT, PEST & Porter: - incorporating non-financial analysis

• The Analysis and Evaluation of Case Studies using Excel® in order to:

• Assess past performance

• Identify Strengths, Weaknesses, Opportunities, and Threats

• Improve Decision Making relating to future:

  • Divisional/Individual Performance

  • Capital Expenditure

  • Investment Opportunities

• Implement and Evaluate Performance Measures

• Aid the Strategic Planning Process

Day 7

Valuation, Merger & Acquisitions

• Business Valuation

  • Definitions of Value

  • Value to the Investor

  • Value to Shareholders

• Evolution of Value-Based Methodologies

• Creating Value in Restructuring and Combinations

• Business Valuation for Merger & Acquisition

• Business Restructuring and Reorganisations

• Management Buy-Outs and Management Buy-Ins

Day 8

Project Cash Flow Estimation

• Variable Cash Flow Estimation

• Variable Cash Flow Estimation - Part 2

• Cash Flows For Replacement Proposals

• Inflation Adjustment

• Cash Flow Problem

• Replacement Cash Flow Problem

Day 9

Risk Analysis For Capital Budgeting

• Introduction To Risk Analysis

• Sources And Perspectives Of Risk

• Techniques Of Risk Analysis

• Break-Even Analysis

• Hiller's Model And Simulation Analysis

• Decision Tree Analysis

• Corporate Risk Analysis

Day 10

Cost Of Capital and Capital Structure

• Sources Of Debt Capital

• Calculating The Cost Of Capital

• Approaches To Cost Of Equity

• WACC And Capital Structure

• Divisional Cost Of Capital And Flotation Costs

• Misconceptions And Assumptions

• Approaches To Capital Structure

• The Modigliani-Miller Theory

• Tax Effect On Capital Structure

• Optimal Capital Structure And Dividend Policy