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Through practical examples and annotated Excel guides, this rigorous 5-day training program will
discuss theories, approaches and applications of financial modeling. The participants will have the
opportunity to construct a model of their own to apply the lessons learned in the lectures.
This
program will benefit any professional required to create financial projections, especially for
participants interested in:
Working in the financial services industry (investment banking, consulting, research, asset
management, private equity, brokerage, sales & trading, insurance)
Working in marketing, brand management or operations for a corporation and being responsible
for a product or divisional budget, projections and profit/loss statement
Course Overview
TTSs 5-Day Core Comprehensive program consists of the following:
Boston
Hong Kong
January 12-16
August 17-21
November 23-27
Charlotte
Los Angeles
July 13-17
March 16-20
March 9-13
May 18-22
June 8-12
July 13-17
August 10-14
September 14-18
September 21-25
November 2-6
December 7-11
Chicago
September 14-18
March 23-27
San Francisco
July 27-July 31
May 11-15
Dubai, UAE
April 5-9
October 25-29
August 24-28
September 28-October 2
Washington, DC
February 9-13
June 1-5
2015-06-22
Schedule
9:00 am to 5:30 pm each day
Note: there may be 1-2 hours of homework, which can be completed on site or at home
Pre-work/Pre-requisites
Prior to the start of the course, each participant will need to do the following:
Complete a pre-reading exercise: this will be emailed out 1 week prior to the course, and will take
2-6 hours to complete depending on prior financial statement experience
Fundamental knowledge of financial accounting: TTS recommends our self-study, The
Fundamentals of Financial Accounting and Analysis. For additional information regarding this selfstudy please go to www.ttsuniversity.com
What to Bring
Each participant will need the following:
PC Laptop with an English version of Microsoft Excel, Word, and Adobe Acrobat Reader
USB memory stick ability (for file sharing and distribution)
Financial calculator, preferably the HP-12C or HP-17BII+
Thinking of bringing a Mac? Using a Mac for Financial Modeling presents several issues; the keyboards
are different causing many of the shortcuts to be unavailable, as well as the functionality of Excel itself.
It is highly recommended that all participants bring a PC to the session. If a Mac is the only option, we
would recommend running Windows on your Mac.
Detailed Syllabus
Days 1 & 2 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
Day 3 Public & Acquisition Comparables and Discounted Cash Flow Analysis
Overview of valuation methodologies and fundamental concepts
Public Comparables Analysis:
Choosing the appropriate peer group
Calculating latest twelve months (LTM)
Gathering public information
Calculating relevant multiples
Calculating market and enterprise value
Deriving an implied valuation range
Normalizing for non-recurring items
Analyzing multiples and a comparables universe
Optional 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
Estimating the terminal value
Deriving a weighted average cost of capital (WACC)
Exit multiple vs. perpetuity growth rate approach
Discounting unlevered free cash flows
Determining the valuation range based on DCF analysis
Optional 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
Accretion/dilution analysis
Credit rating considerations
M&A transaction considerations (stock vs. cash, social
issues, etc.)
All participants who attend the training program will receive a certificate of completion.*
* The certificate will state the type of training sessions that participant attended
modeling and valuation for finance professionals. Founded in 1999, TTS is the worlds leading financial
services learning company offering targeted and customized training courses to corporate and
educational clients. Our mission is to teach the practical valuation techniques and financial modeling
skills that experienced professionals use every day, in such a way that participants can apply these
skills the very next morning. In short, we teach the real-world applications of finance theory in a way
that brings corporate valuation and financial modeling to life.
The Team
With more than 150 years of combined professional and teaching experience, TTS's
instructors have worked across a broad spectrum of industries; from high-technology to retail, across a
wide range of financial disciplines ranging from investment banking, accounting, and financial
research to global trade finance and credit risk management. We have executed LBO and M&A
transactions, and worked with both debt and equity products, including public offerings and private
placements. Through our extensive exposure to deal flow on several continents and across various
firms, we have built a conceptual reservoir of global transactions, client experiences, situational
dilemmas, and anecdotal cases that enrich the examples we select and the way we teach. That
experience enables us to simulate the feel of a real deal in our courses.
The Advantage Our professional experience is matched by our passion for, and skill in, teaching. Three
TTS team members currently serve as adjunct professors of finance at Fordham Business School,
Northwestern Universitys Kellogg School of Management, and at the University of North Carolinas
Kenan-Flagler Business School. This year alone, TTS will deliver over 1,500 teaching days and lead live
workshops at more than 50 academic institutions, including the top 20 business schools in the United
States. Over the past decade, TTS has become the training standard for banks, corporations and for
undergraduate and graduate business students seeking careers in finance.
Registration Details
Option 1: You can register and pay for the seminar online at https://trainingthestreet.secure.force.com/register
Please note the class code below which you will need for registration.
Option 2: Return completed registration form and payment to: Laverne Bailey, 200 Providence Road, Suite 102, Charlotte, NC
28207, USA. Fax: + 1(704) 547-3261, Phone: +1(800) 887-1320, Email: info@trainingthestreet.com
Have a group interested in Core Training? Please call Al Riddick +1 (704) 927-9688
Course Titles
Tuition
Tuition x # Attending
5 Day Comprehensive**
Financial Modeling & Advanced Sensitivity Analysis (Days 1-2)
Valuation: Comparables Analysis & DCF (Day 3)
$2,400
$1,200
($400)
___________
$_________________
($200)
___________
$_________________
$_________________
$_________________
$1,200
($200)
___________
$1,200
($200)
___________
American Express
Participants Contact Information (for multiple participants, please attach information on separate page)
Name (required): __________________________________________________________________________________________________________
Company /School: ________________________________________________________________________________________________________
Phone: ________________________________ Email (required): ___________________________________________________________________
Address: _________________________________________________________ City: ______________________ State: _______ Zip: ____________