You are on page 1of 8

Core Skills Analyst

Program
Spring: March 31–April 25, 2008
Summer: August 4–29, 2008
New York
An Intensive Four Week Program Covering Core Financial Concepts:

Spring Program: Summer Program:


• Credit Risk Analysis April 7–11 August 11–15
• Corporate Finance & Valuation Fundamentals April 14–18 August 18–22
• Financial Modeling April 21–25 August 25–29

Optional Foundation Course


• Accounting Boot Camp March 31–April 4 August 4–8

T +1 212 641 6616 F +1 212 641 2598 W www.nyif.com/csa


Core Skills Analyst
Program
Introducing a new experience in financial Beyond the Classroom
training – the Core Skills Analyst Program
In addition to the instructor-led sessions, you will
from the New York Institute of Finance. also receive:
Bringing together central elements from our • A 6-month COMPLIMENTARY subscription to
popular range of Core Financial Concepts The Financial Times – the world’s leading
courses, this 4-week program is a challenging and business newspaper.
rewarding experience for entry-level analysts, • Access to Course CompassTM – a unique
finance and investment professionals seeking to on-line learning community where you’ll be
enhance their skill set. able to:
- download course materials
Our mission is to provide you with the most
- join the discussion forum with other
comprehensive and complete training to advance attendees
your professional proficiency. Real-life case - ask the instructors questions
studies will supplement the hands-on learning - explore extended reading options
experience, providing you with a wealth of tools • 3 FREE textbooks worth over $200.
and techniques to take back to the workplace. • Breakfast and Lunch Included
• Please contact 212-641-6616 for preferred
How is the Program Structured? Hotel Rates
The main program is 3 weeks long,
beginning April 7 or August 11. Who Should Attend?
There are three core modules, each one week The program will benefit anyone who wishes to
in length: enhance his existing skills or learn new ones. It
should be of particular interest to:
• Credit Risk Analysis
• Entry level finance professionals
• Corporate Finance & Valuation • Investment professionals
Fundamentals • Research Analysts
• Financial Modeling • Corporate Bankers
There is also an optional Accounting Boot • Fixed Income Analysts
Camp before the main 3-week program. The • Credit Analysts
Accounting Boot Camp is designed as a • Merger and Acquisition professionals
foundation to the main course, covering the • Equity Analysts
basic tools and concepts attendees will need • Mid-level career transitions
to be familiar with to complete the program. • Lateral hires
• Small business owners

Attention HR Managers: Group Discounts Available


If you do not sponsor your own internal training program, this may be the perfect solution for your
constituents. For more information on group discounts, call our Client Services Team at +1 212 641 6616.

The New York Institute Finance is part of Pearson, the world’s leading education and
information provider. We belong to a family of companies which includes Pearson Education,
The Financial Times, The Economist and Prentice Hall. The New York Institute of Finance has
access to some of the best intellectual capital in the world.
Core
OPTIONAL
March 31–April 4 April 7–11
August 4–8 August 11–15

Accounting Credit Risk


Boot Camp Analysis
The lack of transparency in financial Half-day Session on Credit Derivatives
statement reporting continues to be a
problem in finance. Therefore, the more you Credit Risk Analysis is never out of style.
know about the underlying accounting No matter what industry or department you may
principles, the easier it becomes to make work in, a solid grounding in credit risk
sense of the numbers! fundamentals is required.
The Accounting Boot Camp explores the The Credit Risk Analysis module will provide
core financial accounting tools that will help you with the tools and techniques required to
you understand annual reports and foot- perform a credit analysis. The focus will be on
notes. The module will cover Balance Sheet understanding the qualitative issues before
and Cash Flow Statements along with basic performing the quantitative analysis.
accounting concepts related to key accounts After completing an historical credit risk and
on the Income Statement. Difficult to under- financial statement analysis you will perform
stand principles such as deferred taxes, pen- financial forecasting, which will determine the
sions and accounting for stock options will correct structuring. The class will also explore key
also be explained. concepts including financing alternatives in
money and capital markets, seniority, protection
Problems, exercises and case studies will be and monitoring, holding company analysis,
employed to illustrate key principles. subordination, covenants and off-balance sheet
Emphasis will be placed on finding and items.
analyzing information.
Practice is key, so there will be an opportunity to
TOPICS TO BE COVERED INCLUDE: practice the analytical techniques learned in each
• The balance sheet and its components section.
• The effect of transactions on the balance
sheet equation TOPICS TO BE COVERED INCLUDE:
• The concept of accrual accounting • Credit, market and operational risk

• Revenues and expenses and the income • The 5Ps and 5Cs of Credit
statement • Sources of information
• The relationship of the income statement • Qualitative framework for analysis including
and balance sheet business and industry
• Single and Multiple step income • The Cash Conversion cycle
statements • Risks and mitigants
• Double entry accounting • Management considerations
• The analysis of a transaction and recording it • Regulatory and environmental issues
through the transaction cycle
• Ratios and credit statistics
• Accounting adjustments
• Financial statement analysis
• Inventory and Accounts Receivable
• Off-balance sheet considerations
valuation methods
• Cash flow analysis
• Long lived assets and depreciation
• Forecasting and key value drivers
• Short and long term liabilities
• Structuring and documentation
• Contingent liabilities
• Credit ratings
• The concept of equity, shareholder rights,
types of stocks • Risk Management and Derivatives
• Exchanges and conversions • Credit Derivatives
• Dividends By the end of the module you will have acquired
• The Cash Flow Statement, describing free the skills necessary to complete a credit risk
cash flow, U.S. GAAP and IAS GAAP analysis. In addition, you will have the chance to
• Consolidation
present the analysis of your case study and
receive feedback from our faculty.
• Deferred Taxes, accounting for stock
options, pension accounting

A financial calculator is required for all modules, comparable to Texas Instruments BAII
Plus Professional.

T +1 212 641 6616 F +1 212 641 2598


Skills Analyst Program
CORE
April 14–18 April 21–25
August 18–22 August 25–29

Corporate Finance & Financial


Valuation Fundamentals Modeling
“Every decision that a corporation makes has The benefits of using spreadsheet modeling for
financial implications and any decision that affects financial management and valuation are
the finances of a business is a corporate finance undisputed in the world of finance. This module
decision. Defined broadly, everything that a provides a hands-on modeling experience that
business does fits under the rubric of begins with the construction of a basic financial
corporate finance.” model and ends with the completion of a full-
Aswath Damodaran, Professor NYU scale forecast model with valuation components.

The Corporate Finance module focuses on the This module provides practical financial
primary tasks of the corporate treasurer or modeling tips and techniques as well as
financial analyst. The program will cover the key valuation tools for valuing companies and
principles of corporate finance including project determining the effects of mergers and
analysis and capital budgeting, the time value of acquisitions. Topics are illustrated by valuing
money and various valuation concepts. actual companies or securities.

Plus, you’ll be challenged to decide a firm’s TOPICS TO BE COVERED INCLUDE:


optimal capital structure. The basics of • Advanced spreadsheet techniques
discounted cash flow will show you how to • Tips and tricks
estimate a weighted average cost of capital to
use as a discount rate appropriate to a • Multiple sheet models
particular company or project. Alternative • Drilling down
valuation techniques will also be examined. • Logical tests
TOPICS TO BE COVERED INCLUDE: • Data validation
• Time Value of Money • Pivot tables
• Project Analysis and Capital Budgeting • Lookup tables
• Discounted Cash Flow basics • String functions
• Financial Statement basics • Data tables
• Valuation concepts including: • Consolidations
• Modeling cash sweep
- Terminal Value - The weighted
• Incorporating scenarios
- Enterprise and average cost of
equity value capital • Combo boxes, List boxes, and other controls
- Risk/return - Capital structure • Building financial models (pro-forma models)
- The cost of debt • Discounted cash flow analysis
and equity • Estimated cost of capital (cost of equity, cost of
debt and weighted average cost of capital)
• Private and Public comparables
• Economic Value Added-like approaches
• Economic Value Added
• Market multiples
• Financing Alternatives
• Free cash flow
• Mergers and Acquisitions
• Separation Techniques By the end of the module, you will acquire the
skills to develop consistent forecast and valuation
By the end of the module, you will have all the models to assist in equity and M & A analysis and
tools necessary to understand the master methods to accurately estimate the cost
financing, investing, dividend and valuation of capital.
decisions corporations make each day.
Proficiency in Basic Excel is required for this
module.

Prerequisites • Undergraduate degree or equivalent • Fluent in English


• Proficiency in Basic Excel • Word Processing Skills
• Basic Knowledge of Accounting (if not attending Basic Accounting Boot Camp)
• A financial calculator

W www.nyif.com/csa E customercare@nyif.com
Core Skills Analyst Program
Our Faculty
Our instructors are practioners and professors in their respective fields. They are experts in their
subject areas and accomplished teachers providing a perfect mix of concepts, theories and practical
application.

Director of Studies
Patricia Sparacio-Don Diego is the Managing Director of the New York Institute of Finance. Pat spent
23 years at JPMorganChase in various line and training roles. As a Vice President at JPMorganChase,
she managed all Corporate Finance Investment Banking Associate Training and Continuing Education
programs. Pat is presently a visiting professor at Fordham University’s Graduate School of Business
and a NYIF faculty member who specializes in Credit and Corporate Finance.
Program Faculty
Lance Eckel is the co-founder of the Geneva Arbitrage Fund, a Pennsylvania-based private investment
fund.The Geneva Arbitrage Fund concentrates on the areas of merger arbitrage and relative valuation
investing. Lance was formerly a Portfolio Manager at Madison Trading LLC, and until 1995 was an
Economist and Policy Analyst for the Government of Canada. Lance is a New York Institute of Finance
consultant who specializes in Equity Valuation, Portfolio Management and Alternative Investments.
Jim Morris CFA, CPA specializes in financial modeling, financial accounting, valuation, and transaction
accounting. Prior to his current consulting work, Jim was a Financial Analyst for the Federal
Government and a Vice President in Mergers & Acquisitions Research at JP Morgan. At JP Morgan Jim
developed advanced valuation, transaction, and taxation models and performed accounting research
and analysis of proposed transaction structures–providing direct input to the deal team members for
their client interactions. Jim is the author of Accounting for M&A, Equity, and Credit Analysts.
John Palicka CFA, CMT has over 25 years of experience in researching and managing money in global,
emerging, and US small-cap stocks. He is currently in his 17th year as President and Chief Portfolio
Manager at Global Emerging Growth Capital (GEGC) where he is responsible for a global small cap
fund that has been ranked consistently in the upper quartile by consultants and reporting agencies.
He also manages a top performing US small cap fund. He is at present a member of the Financial
Analysts and Money Managers of New York, and has been teaching financial courses at Columbia,
New York University, and Baruch College. These courses include Corporate Finance, Technical Analysis
and Portfolio Theory and Investments. Mr. Palicka has been quoted in business periodicals such as
BusinessWeek, Emerging Markets, Equity magazine, and The Wall Street Journal and has been
interviewed on CNBC.
Henry Pullman was a commercial/ investment banker for 30 years. The last 15 years of his banking
career were with Barclays Capital. He was a Managing Director in the Credit Risk Management Division
at Barclays, and established its Credit Risk Review function. Currently, Henry works with a consulting
firm on behalf of its many commercial bank clients. He also serves on the Rye (N.Y.) Board of Education
Finance Sub-Committee and is a member of a research committee at SUNY - Purchase College.
William Addiss is a New York Institute of Finance consultant with over 20 years of management
experience working in the finance industry. He has been an instructor at the New York Institute of
Finance since 1995 where he has designed and delivered courses in Capital Markets, Fixed Income,
and Derivative Instruments. Bill is a former Managing Director/Executive Vice President for Lehman
Brothers in Manhattan, where he was responsible for the marketing, trading and distribution of Fixed
Income.

Attend the Core Skills Analyst Program and receive these 3 great books

The Dark Side Introduction to Understanding


of Valuation Financial Accounting Financial Statements
By Aswath Damodaran By Horngren, Sundem, By Lyn M. Fraser and Aileen
Elliott and Philbrick Ormiston
Core Skills Analyst Program
Highlights from Past Programs
Guest speakers have included: Delegate comments:
Aswath Damodaran “I found NYIF’s Core Skills Analyst program to be
NYU Stern Business School Professor and a key factor in changing the path of my career.
Respected Author With my new abilities in financial modeling, I was
able to move from a background in
Richard Beales communications and media to a strategy
Editor, Markets, FT consulting position. I now work with
David Wighton entrepreneurs and help new ventures with their
capital raising strategy, creating proforma
NY Bureau Chief and Wall Street Editor, FT
revenue models for every business plan that we
Thorold Barker write. Because of my new skills, I have an entirely
Head of Lex in NY, FT new career!”
James Montgomery “The instructor’s passion for the subject was a
U.S. News Editor, FT real strength”
John Dizard “The way the instructor managed the class made
Financial Journalist, FT Columnist Street Talk me feel like i was actually not in a classroom but
in real corporate life.”
Michael Panzner
Author, Stock Market Jungle “The course exceeded our expectations and was
truly beneficial from every dimension, be it the
Jerry Moskowitz material, the qualified professors and the level of
Managing Director FTSE discussions in the classes.”

Program Benefits
• Train with other finance professionals in an academic environment
• Supplement your in-house continuing education training
• Practice your skills with hands-on case studies and exercises
• Utilize your newly acquired skills and knowledge to present your work to, and receive feedback
from, leading practitioners
• Get more value for your training dollar by taking the complete program
• Take advantage of our boot camp prior to attending the three week core program
• Reach your potential and open the door to new opportunities with a solid foundation in
core skills
• Build your network and contacts

4 Great Reasons to Attend The Program


1. SHARED EXPERIENCE
Meet and collaborate with other global finance professionals as you work together on team
projects. This program is an opportunity to learn coupled with the chance to spend four
uninterrupted weeks in the most exciting city in the world! Enjoy special social events with
your class.
2. MATERIALS AND TEXTBOOKS
Each student will receive accompanying textbooks and lecture notes, slides, exercises and
case studies – resources you will be able to use after the program has ended.
TM
3. ENHANCED ACTIVITIES INCLUDING VALUE ADDED USE OF COURSE COMPASS
THROUGHOUT THE PROGRAM
TM
Course Compass will allow you to access the program any time of day via the Internet. All
program materials will be available to you as well as practice activities, flash cards, mini case
studies, and practice quizzes.
4. A COMPLIMENTARY 6-MONTH SUBSCRIPTION TO THE FINANCIAL TIMES
Keep abreast of the local and global news every day with the Financial Times, the world’s
leading business newspaper.
Enrollment Application and Order Form

F Fax your completed form to +1 212 641 2598

CO U R S E S E L E C T I O N Please tick the box for the course you wish to attend.

TITLE PRODUCT # D AT E CO S T
Core Skills Analyst Program CRCN1037 April 7–25 $9,950 ■
CRCN1037 August 11–29 $9,950 ■
Core Skills Analyst Program & Accounting Bootcamp CRCN1038 March 31–April 25 $12,850 ■
CRCN1038 August 4–29 $12,850 ■
The program will be held at the New York Institute of Finance Headquarters at 1330 Avenue of the Americas, New York, NY 10019

P E R S O N A L I N F O R M AT I O N Required for all enrollments and orders.

■ Mr. ■ Ms. ■ Mrs.

Last Name First Name Middle Initial

Firm Name

Title Department

Manager’s Name

Address (■
■ Home ■ Work)

Ste./Fl.

City State Zip


Country

Phone ( ) Fax ( )

Email Address

■ Please send me information via email (see privacy policy below)

How did you hear about us? What industry do you work in?

PAY M E N T M E T H O D
■ Company Check ■ American Express ■ Mastercard ■ VISA ■ Wire Transfer

If paying by credit card, complete and sign below

Name as on Card Cardholder Signature

Card Number Expiration Date /

If you would like to send your company check directly to our bank account, please make the check
payable to “New York Institute of Finance” and mail to:

Bank of America, 12562 Collection Center Drive, Chicago, Illinois 60693

I certify that the above information is correct. I am aware of the prerequisites for the course(s) for which I am reg-
istering and have met the necessary requirements. I have read and understand the enrollment policies.
Attendee Signature Date

Enrollment Policies:
Your registration is not complete until payment is received. FT Subscription: One subscription per attendee. Subscriptions
start within 6-8 weeks of start of course. US and Canada attendees
Cancellation, Transfer and Substitution Policy: A full refund less only. FT.com included for all delegates.
a cancellation fee of 10% will be applied to all cancellations
received in writing at least 10 business days before the event. Privacy Policy: NYIF takes your privacy seriously. We collect and
Absolutely no refund or credit will be given for cancellations use personal information to provide you with our information serv-
received less than 10 business days before the event. A charge of ices, conduct market research surveys and contact you with details
10% of the course fee will be applied to all transfers that occur of products and services we offer.
within 10 business days before the event. Please note that visa
issues are subject to the same refund policy and refunds will not be Tick the relevant boxes if you prefer not to receive information
offered due to the inability to obtain a visa. Should a participant be about:
unable to attend, a substitute may attend at no extra charge pro-  NYIF products
 Pearson products
vided NYIF receives notification of the substitution before the
event.
Incidental Expenses: NYIF is NOT responsible for covering airfare  Products or services offered jointly with, or other organizations
or other travel costs incurred by registrants. If you have checked the third box, we will not disclose your per-
Venue details: Please refer to our website for venue location. Full sonal information to companies outside the Pearson Group, except
details will be sent to you upon registration. to business partners and suppliers that process data on our behalf.
As we are an international group we may transfer your data on a
Disclaimer: NYIF reserves the right to alter the contents of this global basis for the purposes indicated above.
course and/or the course directors due to circumstances beyond
our control. NEW YORK INSTITUTE OF FINANCE IS A SUBSIDIARY OF PEARSON, LLC.

CODE: 0306CSA1
Corporate PRESORTED
1330 Avenue of the Americas
W www.nyif.com/csa

Finance & FIRST-CLASS MAIL


New York, NY 10019
RETURN SERVICE REQUESTED U.S. POSTAGE PAID
Valuation
Fundamentals ANDREW
ASSOCIATES
Credit Risk
Analysis
Financial T +1 212 641 6616
Modeling
Accounting
Boot Camp
Core Skills Analyst Program

You might also like