fa Accounting & Financial Modeling Liberal Arts Boot Camp Overview 2-day intensive training program where liberal arts students learn financial accounting, financial modeling in Excel, and technical interview prep using in a hands-on, case-study approach. Step-by-step, intuitive approach Each financial topic is preceded by conceptual introductions that relate academic coursework to the hands-on step-by-step exercises trainees undertake on their computers in class. The program is a synthesis of Excel modeling, navigating through various financial reports, and the application of accounting and corporate finance. Experienced instructors Our instructors are all practitioners with years of directly relevant realworld experience and have a passion for teaching. They understand the importance of teaching in a way that empowers students to apply the lessons from the classroom directly on the job. Complete finance training Every seminar is preceded by our online Crash Course in Excel to ramp students up to a common Excel knowledge base. Students also have post-seminar access to our Support Staff whom they can e-mail with any content-related questions. Matt Blair mblair@wallstreetprep.com 617-314-7685, ext. 722
Excel 2013/2010 Crash Course Introduction Getting Started The Excel Ribbon Excel Settings Basic Excel Shortcuts, Navigation & Editing Formatting in Excel Excel Navigation Splitting & Freezing Panes Entering & Editing Data Columns & Rows Paste Special Ctrl Shortcuts Naming Cells Anchoring Cells Naming Worksheets Grouping & Hiding Columns & Rows Grouping Workbooks Formula Auditing Page 1
Introduction to Functions: SUM & Average #Ref, #Div/0! & Other Excel Errors Simple & Nested IF Statements IFERROR & Concatenation Date Functions: EOMONTH & EDATE ISNUMBER, ISTEXT & Combining with IF to Create Overrides More Date Functions: YEARFRAC, DAY, MONTH, YEAR & DATE AND & OR Functions HLOOKUP, VLOOKUP, CHOOSE, OFFSET & INDEX Functions Common Errors with HLOOKUP, VLOOKUP, CHOOSE, OFFSET & INDEX The MATCH Function Combining H/VLOOKUP, OFFSET, INDEX, CHOOSE with MATCH Creating Drop Down Menus with Data Validation Data Tables Cell Alignment & Center Across Selection The SUMPRODUCT Function Advanced SUMPRODUCT: Adding Criteria & Booleans in Excel SUMIF/S & AVERAGEIF/S CEILING, FLOOR & ABS Functions ROUND, ROUNDUP, ROUNDDOWN & COMBIN Function The MIN & MAX Functions COUNT/A & COUNTIF/S Functions Present Value & Future Value Functions NPV & XNPV Functions IRR & XIRR Functions Page 2
Text Functions (LEN, LEFT, RIGHT, MID, REPLACE, etc.) Using Text Functions to Solve Data Extraction Challenges Flash Fill (Excel 2013 Only) Combining INDIRECT with & Sort & Subtotal Autofilter Pivot Tables, Part 1 Pivot Tables, Part 2 VBA & Macros in Excel Creating Dynamic Headers, Custom Formatting & the TEXT Function Conclusion Page 3
WALL STREET PREP 2014 FINANCIAL TRAINING CATALOG Accounting and FSA Financial modeling requires a basic understanding of accounting and financial statement interaction. Accordingly, this course is for individuals who lack knowledge in those areas. Online Course: 10 hours Live Seminar: 1-5 days AGENDA Introduction to financial accounting The ABC s of accounting its purpose, uses, and users Accounting regulations and principles U.S. versus international accounting standards Financial reporting introduction to corporate filings Income statement Analysis of revenues revenue recognition & accrual concept of accounting Analysis of expenses & the matching principle Introduction to depreciation concept & methods Analysis of income taxes Profitability analysis EBITDA, EBIT, EPS Types and analysis of non-recurring items Balance sheet Overview purpose, balance sheet identity, and double-entry accounting Analysis of the income statement-balance sheet relationships o Accounts receivable & revenues o Inventories & COGS o Fixed assets & depreciation o Intangible assets & goodwill o Deferred tax assets/liabilities & income taxes o Retained earnings & net income o Analysis of inventory methods o Analysis of corporate investments equity versus consolidated methods of accounting Page 1
WALL STREET PREP 2014 FINANCIAL TRAINING CATALOG o Analysis of fixed assets Impairment Capitalization versus expensing decision o Analysis of working capital & current liabilities o Introduction to financing decisions debt versus equity o Leases & off-balance sheet debt o Shareholders equity Cash flow statement Overview direct versus indirect methods of cash flow statement preparation Analysis of cash flow from operations o Analysis of depreciation, deferred taxes and working capital Analysis of cash flow from investing o Capital expenditures & acquisitions o Purchases & sales of investments Analysis of cash flow from financing o Debt issuance & repayment o Equity issuance & repurchase o Dividends Financial ratio analysis Purpose and use of ratio analysis Liquidity, profitability, activity, and solvency ratios Financial ratio analysis - an integrated approach Financial statement analysis Analysis of depreciation methods Analysis of inventory methods Analysis of capitalization versus expensing decisions Analysis of income taxes Analysis of corporate investments Analysis of leases and off-balance sheet debt Page 2
Financial Statement Modeling Basic Excel techniques and keyboard shortcuts The most accurate way to perform Excel s basic functions without the mouse Customize Excel s default settings for effective modeling Standard modeling structures and formulas Best practices in modeling Learn the correct way to check models for errors, accuracy and integrity Check and fix circular reference and iteration problems (#REF) Tools for formula checking and auditing Create a ratios page Prepare a model for distribution Learn summary and sensitivity analysis using data tables Learn to build projection drivers Learn to integrate assumptions into financial models learn what makes a good assumption Build core statements: Page 1
o Cash flow statement o Balance sheet o Income statement Build supporting schedules: o Debt schedule o Working capital o Interest schedule o Retained earnings o PP&E analysis Understand the interconnectivity of the core financial statements and learn how the cash flow statement, income statement, and balance sheet are linked. Learn to apply automatic balance checks Understand treatment of non-recurring charges and tax implications on financial models Understand implications of new FASB regulations on financial models used by investment banks and other financial institutions. Page 2
Valuation Overview & DCF Modeling Learn market-based valuation, including comparable company analysis and comparable transaction analysis using appropriate equity and enterprise value multiples (PE, EV/EBITDA, etc.) Intrinsic valuation, including DCF and LBO (floor) valuation Presentation of valuation results using sensitivity analysis and data tables Participants learn to identify and analyze the elements of the financial statement that are key to the value of an enterprise, including: o Market capitalization o Enterprise value o Options o Preferred stock o Minority interests o Debt o Cash and marketable securities o Treasury Stock Method of Calculating Diluted Shares Outstanding Page 3
Use previously built model to derive unlevered earnings and unlevered free cash flow Handle working capital items, deferred taxes and long-term accruals Learn how to derive a discount rate by deriving the cost of debt and the cost of equity Derive the cost of capital using CAPM Select the correct discount rates Estimating terminal value Calculating enterprise value Using the enterprise value to determine implied share prices Analyze key input assumptions at various sensitivities Page 4