Financial Modeling, Corporate Valuation and M&A Analysis Course Offerings and Descriptions

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1 Financial Modeling, Corporate Valuation and M&A Analysis Course Offerings and Descriptions Preparing Financial Professionals for Success

2 About Training The Street: Training The Street (TTS) offers state-of-the-art, instructor-led courses in financial modeling and corporate valuation. Founded in 1999, TTS is the world s leading financial learning services company offering targeted and customized training courses to corporate and educational clients. TTS s corporate clients include the world s leading investment banks, consulting firms & Fortune 500 companies. We specialize in applied learning using practical examples and annotated guides. With more than 100 years of combined professional and teaching experience, TTS's instructors have worked across a broad spectrum of industries-from high-technology to retail-and across a wide range of financial disciplines-from investment banking, accounting, and financial research to global trade finance and credit risk management. Several of our instructors are Adjunct Professors at leading academic institutions. For more information on TTS, please visit 1) Calendar of Courses Offered: Corporate Valuation M&A Modeling Duration: 1 Day Duration: 1 days Thursday, November 18, 2010 Tuesday, November 23, 2010 (1:30 PM 10:00 PM) (1:30 PM 10:00 PM) Two Day Financial Modeling Duration: 2 Days Saturday, November 20 Sunday, November 21, 2010 (1:30 PM 10:00 PM) Day 1, Nov 20 (9:00 AM 5:30 PM) Day 2, Nov 21

3 2) Course Overview and Descriptions: A. Corporate Valuation: A Primer on Corporate Valuation Methodologies (1 Day) * This course will not be Excel based. Laptops will not be required for this course. Each participant will need a calculator. i. Course Overview The main goal of the seminar is to assist candidates seeking employment in investment banking and in other related fields of finance (like private equity, asset management, equity research, corporate finance etc.). Through practical examples and exercises, the seminar illustrates the fundamentals of popular corporate valuation techniques used by Wall Street practitioners across the world. The seminar also discusses applications of key valuation concepts such as EBITDA, Enterprise Value, WACC, accretion / dilution and LBOs. ii. Target Audience* This Corporate Valuation seminar is designed to be an essential foundation before finance related interviews and internships. In addition, TTS believes the content will benefit a wide variety of MBA candidates interested in: Working in most areas of the financial services industry (investment banking, consulting, research, asset management, private equity, brokerage, sales & trading, insurance, etc.) Working in the corporate or strategic development group or finance department of a corporation Enhancing the learning experience in finance and financial statement analysis classes Working in marketing, brand management or a non-finance field, but are interested in gaining a solid foundation in applied corporate finance in a condensed, practical manner * If you have attended a TTS Valuation course at a Corporate Client, this course will primarily be a refresher. This course will also be a good starting point for our two other campus offerings: 2 day Financial Modeling and 1 Day M&A Modeling and Analysis iii. Prerequisites In order to gain the most from the seminar, participants should possess a working knowledge of corporate finance, accounting and financial statement analysis. However students interested in the field of finance and interested in taking more core and advanced courses in finance can also attend. iv. Topics Covered Topics covered include: Overview of valuation methodologies & key concepts Public comparables analysis Acqu isition comparables analysis Discounted cash flow analysis Merger consequences analysis Leveraged buyout analysis Imputing valuation ranges v. What to bring F inancial Calculator No laptops / computer access needed

4 B. Two-Day Financial Modeling Asset Management Consulting Investment Banking Marketing Private Equity Strategic Development Venture Capital Regardless of your career goals, corporate valuation, financial modeling and Excel skills should be an essential part of your portfolio. We should know. Our corporate clients include the world s leading financial institutions, consulting firms & Fortune 500 companies. i. Course Overview This intensive workshop is designed to develop financial modeling skills through actual hands-on construction of a model. Each participant will build their own interactive financial model from scratch. The end goal of the workshop is to give participants a practitioner s view of strategic advisory by blending accounting, corporate finance and Excel skills. The completed product is a dynamic model with 5 years of projections and 3 years of historical data, containing the following detailed statements and schedules: Income statement, balance sheet and cash flow statement Workin g capital schedule Depreciation and Capital Expenditure schedule Intangibles amortization schedule Shareholders equity schedule with a share repurchase table Debt and interest schedule with a cash sweep/revolver Pra ctitioner s DCF schedule In addition, the workshop will cover the following advanced topics: Understanding and controlling circular references (#VALUE, #REF, #DIV, #NAME errors) Proprietary strategies for balancing a model (reconciliation matrix) Sensitivity analysis to match expected financial performance Fundamentals of what-if analysis using data tables Analyzing detailed ratio s for debt capacity and risk analysis Adding a discounted cash flow valuation worksheet ii. Learning Methodology Personal one-on-one assistance will be available to answer questions and give guidance while the participants are working on the computers. During computer time, Training The Street will supplement the lectures with tips and hints on Excel best practices for financial modeling. After the lecture, the TTS staff will also be available to answer any questions the students may have related to the course. iii. Target Audience This intensive workshop will benefit any professional who will be required to create financial projections, especially for candidates interested in: Working in the financial services industry (investment banking, consulting, research, asset management, private equity, brokerage, sales & trading, insurance, etc.) Working in the corporate or strategic development group or finance department of a corporation Enhancing the learning experience in finance and financial statement analysis classes Working in marketing, brand management or operations for a corporation and being responsible for a product or divisional budget, projections and profit/loss statement

5 iv. Pre-requisites: Participants typically should have taken or be currently enrolled in an introductory level accounting or corporate finance course. In addition, an understanding of Excel is also essential and will enhance the overall learning experience. v. What To Bring Each participant will need the following: 1) Computer* with Microsoft Excel (MS Office 2000, 2002, 2003, 2007 or 2010), Adobe Acrobat Reader 2) Colored highlighters (blue, green and red/pink) to highlight color-coded pages (optional, but strongly encouraged) 3) Post-it flags to mark important pages (optional, but strongly encouraged) NOTE: Internet access is not needed * All modeling classes are optimized for PCs using Office 2010, 2007, 2003 and earlier versions. In addition, many of the shortcut keys will not work for MAC operating systems. It is highly recommended that all participants bring a PC to the session. The learning experience is enhanced for PC & Office 2010, 2007 and 2003 (and earlier) users.

6 C. One-Day M&A Modeling and Analysis i. Overview: This intensive one-day workshop is designed to develop an understanding of merger consequences analysis through actual hands-on construction of an M&A model. Each participant will build their own interactive model from scratch to gain a detailed understanding of M&A analysis. Students will also be trained in some advanced excel functionalities that will help them in scenario analysis through functions like CHOOSE, OFFSET etc. In the M&A analysis, the focus of the model is to effectively represent the interest of both the buyer as well as the target. In the M&A analysis, the focus of the model will be to develop an understanding on the following: Concept of affordability analysis Overview of SFAS 141/142 and IFRS 3 Purcha se accounting overview Creation of goodwill and write-ups, including possible incremental D&A Sources and uses of funds Opening balance sheet and purchase accounting adjustments Pro forma income statement Ac cretion/dilution analysis Credit rating considerations M&A transaction considerations (stock vs. cash, social issues, etc.) The completed Merger Consequences model allows for a dynamic evaluation of whether or not the deal will be accretive to the buyer or not and at what premium. The model will also allow the candidates to simultaneously analyze more than one buyer or more than one target in an M&A scenario. ii. Learning Methodology: Through practical examples and annotated Excel guides, the lectures will discuss theories, approaches and applications of M&A modeling. The participants will have the opportunity to construct a model of their own to apply the lessons learned in the lecture. Personal one-on-one assistance will be available to answer questions and give guidance while the participants are working on the computers. During computer time, Training The Street will supplement the lectures with tips and hints on Excel best practices for M&A modeling. iii. Target Audience: This intensive workshop will benefit any professional who will be required to perform M&A analysis, especially for MBA candidates interested in: Working in the financial services industry (investment banking, consulting, research, asset management, private equity, brokerage, sales & trading, insurance, etc.) Working in the corporate or strategic development group or finance department of a corporation

7 Enhancing the learning experience in finance and financial statement analysis classes iv. Pre-requisites: Participants must have financial modeling experience from prior work experience or have taken one of Training The Street s financial modeling workshops. A strong proficiency in Excel is necessary to gain the most from the experience. v. What to Bring Each participant will need the following: 1) Computer* with Microsoft Excel (MS Office 2000, 2002, 2003 or 2007), Adobe Acrobat Reader 2) Colored highlighters (blue, green and red/pink) to highlight color-coded pages (optional, but strongly encouraged) 3) Post-it flags to mark important pages (optional, but strongly encouraged) NOTE: Internet access is not needed * All modeling classes are optimized for PCs using Office 2010, 2007, 2003 and earlier versions. In addition, many of the shortcut keys will not work for MAC operating systems. It is highly recommended that all participants bring a PC to the session. The learning experience is enhanced for PC & Office 2010, 2007 and 2003 (and earlier) users.