Financial Analysis & Forecasting

5 days 4-8 Dec 2017, Milan Italy 6,020.00 Download brochure Add to basket

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Overview

Financial analysis and forecasting is a course designed to provide those wishing to acquire a detailed introduction to the subjects of  accounting and financial analysis with the essential knowledge required.

The course is in the style of a series of presentations interspersed with case study material.  Delegates are required to carry out a significant amount of financial manipulation and will involve the use of spreadsheet software in a number of cases.

The case studies are designed to enable the delegate to take ownership of the knowledge offered by applying it to a case immediately after the relevant presentation.  This is further reinforced by the completion of group cases towards the end of the course.

The course is ideal for managers, analysts, consultants, entrepreneurs and others who seek a proper grounding in the fundamentals of financial analysis and forecasting.

The main subjects covered are:

  • The Profit & Loss Account and the Balance Sheet
  • Ratio analysis for financial analysis purposes
  • Cash Flow Analysis
  • Overview of current International Accounting Standards and global accounting
  • Recognising Accounting Abuses
  • Cash flow discounting and it s application to real world situations
  • Analysing management information
  • Project Analysis, Net Present Values and IRR's
  • Use of spreadsheets and spreadsheet risk
  • Forecasting using spreadsheet software.
  • Presenting financial information

Who should attend

The course is ideal for those persons seeking a proper grounding in the fundamentals of financial analysis and forecasting, including:

  • Business Analysts
  • Equity Analysts
  • Commercial Bankers
  • Managers
  • Consultants
  • Entrepreneurs
  • Financial Trainees
  • Others interested in finance

Instructors

We work with a series of expert instructors, please select the course location of interest to review the credentials of who will be delivering the programme.

Milan
Timothy D H Jury

The course instructor is a chartered accountant, who qualified with KPMG. He has held main board financial and general management directorships in both quoted and private companies. He has considerable experience of management in turnaround situations and has completed a number of acquisitions, disposals and corporate reorganisations.

Following a corporate recovery assignment he joined a major UK consultancy specialising in training for financial services businesses. He spent over two years developing and presenting corporate credit training for a number of large UK banks. Clients included Natwest, HSBC, Lloyds Banking Group, Allied Irish Bank, Co-operative Bank, Hill Samuel Merchant Bank, Swiss Bank Corporation & Trade Indemnity plc.

After a further corporate recovery assignment in the textiles industry he became a full time training and strategy consultant offering courses covering all aspects of corporate lending, financial analysis, accounting, valuation, corporate finance, M&A, strategy and management. He combines his lecturing career with consultancy assignments in strategy and change management and advising on corporate recovery situations.

In-house training initiatives have been completed for Standard Chartered Bank – India, Societe Generale – London, The Kenya Pipeline Company and others, in addition to developing and delivering Euromoney public courses in places such as London, Germany, South Africa, Egypt, Jamaica, Kenya, Ghana, Zimbabwe, Sri Lanka, India, Poland, Romania, Macedonia, Croatia and Hungary. He is involved in graduate and MBA training for London based investment banks such as Deutsche Bank and Barclays Capital. Private consultancy assignments have included advising a leading venture capital fund, the strategic review of a national tape and CD retailer and providing strategy advice and research for a major new business venture in Egypt.

He is the co-author of – Advanced Credit Analysis – published by Euromoney in January 1997.

Venue

Milan

Milan Hotel

This programme takes place on a non-residential basis at a central Milan hotel. Non-residential course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.

Related Courses

Inhouse

We can bring this course to your company's office.

If you simply want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

We produce learning solutions that are completely unique to your business. Our tailored learning solutions are designed specifically for your organisation’s needs.

We’ll be here to support you every step of the way. From the initial consultancy through to evaluating the success of the full learning experience. We'll ensure you get the maximum return on your training investment.

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Agenda

Day 1

Dealing with the fundamentals


Introduction to financial analysis

  • Differences in UK/US accounting terminology
  • Identifying the relationship between cash flow and profit
  • Development of an integrated cash flow model
  • Recognising it’s all about cash
  • Understanding the relationships between the three main accounting statements
  • Exercise 1 - Accounting terminology

Fundamentals of accounting statements-the profit and loss account

  • How the P&L has changed over the last 25 years
  • Detailed review of the Profit and Loss account including explanation of all significant accounting terminology
  • Profit types - trading, asset and business
  •  Inventory, depreciation, capitalised interest
  • Minority interests and consolidation
  • Exceptional and material items

Fundamentals of accounting statements-the balance sheet

  • Detailed review of the balance sheet including explanation of all significant accounting terminology
  • Understanding the fixed assets note
  • Accounting goodwill – what is it?
  • Liabilities, pension fund accounting
  • Debt and other liabilities like debt
  • Deferred tax, contingent liabilities

Financial analysis techniques-ratio analysis

  • Objectives of ratio analysis
  • Developing ratio analysis skills
  • Different types of ratios
  • How much information is there in ratios?
  • Ratio rules – avoiding errors of principle

Case study: Use of ratios
Delegates match ratios to different types of businesses
Delegates consider what ratios do and don’t tell us 
 

Day 2

Cash flow analysis and accounting issues


Understanding cash flows

  • Detailed review of the cash flow statement
  • Analysing and interpreting cash flows
  • Summarising cash flows for analysis

Case study: Summarising cash flows
Delegates summarise cash flows for analysis purposes

Cash flow analysis

  • The four phases in the life of a business

Case study: Examining patterns of cash flows
Delegates match cash flows to sectors

Cash flow analysis-taking it further

  • Dealing with the consequences of growth and no-growth

Case study: Growth and no-growth cash flows
Delegates restate cash flows to improve their understanding of performance

Accounting abuses and update

  • Abuses of Fair Accounting
  • Basic abuses relevant to all businesses
  • More complex abuses relevant to larger groups

Case study: major Travel group

  • Delegates examine and evaluate the P&L of this major UK based travel group

Global accounting in the new century

  • Overview of the International Accounting Standards Board
  • The implications of the IAS Initiative
  • Review of new standards produced in the last five years

Day 3

Financial mathematics and project analysis

The time value of money

  • Present and future values
  • Defining the discount factor
  • Exercises: Discounting calculations

Net present value -developing the concept

  • NPV’s and varying future cash flows
  • Perpetuities and annuities
  • Exercises: Annuities and perpetuities

Project analysis

  • Introduction to project analysis
  • Developing a forecast of the project cash flows
  • Identifying the key risk areas

Evaluating capital investment projects

  • Discounted cash flow techniques
  • Calculating the internal rate of return

Case study: Speculative housing project
Delegates perform investment appraisals to decide whether to proceed with a capital investment

Case study: Eight Projects
Six delegates evaluate a number of projects and decide which projects should be pursued and which rejected

The responsibilities of management

  • The essential aspects of the management task

Case study: Management information
Delegates review and manipulate management information using Excel

Costing and break-even analysis

  • Fixed and variable costs
  • Marginal, absorption and standard costing

Case study: Variance analysis
Delegates review a variance report and consider the possible causes for variances 
 

Day 4

Spreadsheet analysis skills

Introduction to spreadsheets

  • Using spreadsheet programmes for business analysis and forecasting
  • The issue of spreadsheet risk

Introduction to computer forecasting

  • Overview of the forecasting process
  • Creating useful models
  • Sales, growth and margins
  • Cost identification
  • Driving the cash flow

Case study: New low cost airline
Delegates prepare a spreadsheet summarising the forecasted first twelve months performance of this low cost airline and analyse it

Case study: New low cost airline
Delegates identify the break-even of the project and develop a cash flow forecast for the same business

Case study: Financial analysis
Delegates analyse a business and prepare forecasts of future performance

Funding structures

  • The relationship between business risk and financial risk
  • The four phases of the corporate life-cycle
  • Identifying appropriate funding structures
  • Recognising the drivers of funding strategies 
     

Day 5

Case studies and presentation skills

Case study: Business analysis
Delegates analyse a business using the methods presented earlier in the course

Case study: Business forecasting
Delegates value a business using the methods presented earlier in the course

Case study: Financial presentation
In small groups delegates prepare and present a slide based presentation of the salient features gained from the analysis case in session one using spreadsheets and graphical techniques

Why us


We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

  • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
  • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
  • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
  • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
  • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product