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FINANCIAL MARKET COURSES

Corporate Finance

Courses In This Course

Creating, enhancing, maximizing corporate value – corporate finance is at the heart of both investment banking and corporate structures. Topics covered in this course include the free cash flow (FCF) and economic profit approaches to business performance measurement, different techniques for evaluating capital investment decisions, dividend policy, and mergers and acquisitions (M&A) analysis.

Objectives

In this course, you will explore:

The role of corporate finance and the financial manager

The use of FCF and economic capital approaches in measuring and helping to create shareholder value

The tools necessary to determine debt and equity capital costs

The methods of evaluating capital investment decisions

The importance of a firm's dividend policy

The function of a firm's M&A strategy

The importance of synergy in determining the ultimate value of an acquisition

Learner Profile

This course is designed for:

New recruits to banking and financial organizations

Corporate bankers

Senior managers

Financial managers

Finance and accounting staff

Sales and marketing executives

IT staff

Compliance and regulatory staff

  •    CORPORATE FINANCE - AN INTRODUCTION

    Overview

    Corporate finance is concerned with how companies raise finance and structure their liabilities. At a deeper level, this involves key issues such as public flotation’s and debt financing (raising capital), managing short-term cashflows (working capital management) and acquiring all or part of a business (mergers and acquisitions, management buy-ins and buy-outs, etc.). This course introduces the subject of corporate finance to newcomers in the area.

    Course Duration

    30 mins

    Prerequisite Knowledge

    Financial Markets – An Introduction

    Equities – An Introduction

    Bonds – An Introduction

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  •    CORPORATE FINANCE - MEASURING BUSINESS

       PERFORMANCE - FREE CASH FLOW

    Overview

    The ultimate goal of any business is the creation of value for the owners of that business, whether that business is privately held by one owner or is publicly held with a multitude of owners/shareholders. Free cash flow (FCF) is an economically valid business performance measurement tool that can help view value creation within a company. This course will provide you with a firm understanding of how to properly and effectively measure business performance using FCF, thereby providing you with tools to make better business decisions.

    Course Duration

    75 mins

    Prerequisite Knowledge

    Prior to studying this course, you should have a basic knowledge of financial statements as described in the following courses:

     

    Accounting – An Introduction

    Analysis of the Balance Sheet

    Analysis of the Income Statement

    Analysis of the Cash Flow Statement

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  •    CORPORATE FINANCE - MEASURING BUSINESS

       PERFORMANCE - ECONOMIC PROFIT

    Overview

    The ultimate goal of any business is the creation of value for the owners of that business, whether that business is privately held by one owner or is publicly held with a multitude of owners/shareholders. This course will show in detail how economic profit can be used to make value-creating business decisions, and why it is a superior metric to more traditional business performance measures. A comparison will also be made between economic profit and free cash flow (FCF) to show the relevant differences between these two concepts.

    Course Duration

    75 mins

    Prerequisite Knowledge

    Prior to studying this course, you should have a sound knowledge of the free cash flow (FCF) approach to measuring performance as described in the following course:

     

    Corporate Finance – Measuring Business Performance – Free Cash Flow

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  •    CORPORATE FINANCE - COST OF CAPITAL

    Overview

    The cost of capital is one of the most important, and least understood, concepts in corporate finance. While it can be regarded as a fundamental building block of corporate finance, the cost of capital is frequently ignored by many companies as they go about their day-to-day operations. Investments or projects that are capable of earning returns greater than the cost of capital add value for shareholders. Therefore, by ignoring the cost of capital, companies run the risk of misallocating capital and therefore destroying rather than creating shareholder value.

     

    This course will provide you with the tools necessary to determine debt and equity capital costs, so that a proper comparison can be made between a company’s cost of capital and the return actually being earned on that invested capital.

    Course Duration

    75 mins

    Prerequisite Knowledge

    Corporate Finance – Measuring Business Performance – Free Cash Flow

    Corporate Finance – Measuring Business Performance – Economic Profit

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  •    CORPORATE FINANCE - CAPITAL BUDGETING

    Overview

    One of the most important decisions a company can make is where to invest its scarce capital resources in order to maximize shareholder value. These capital budgeting decisions need to be supported by rigorous analyses that have a firm economic underpinning.

     

    The best way to quantify the costs and benefits of a capital budgeting opportunity is to use either a free cash flow or economic profit approach. The advantage of using these measures is that they both consider the economic flows/cash flows (operating flows and investment flows) associated with capital budgeting, and also take into account the return on investment that is expected by the capital contributors of a company.

     

    This course will provide you with the quantitative tools needed to properly evaluate capital budgeting opportunities for the purpose of maximizing the value of a firm.

    Course Duration

    75 mins

    Prerequisite Knowledge

    Corporate Finance – Measuring Business Performance – Free Cash Flow

    Corporate Finance – Measuring Business Performance – Economic Profit

    NPV & IRR

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  •    DIVIDEND POLICY

    Overview

    Dividend policies can differ radically between companies. This course looks at the reasons why such differences in dividend policy can occur. The central question that is addressed is whether dividend policy can affect the value of a firm. In an ideal world, it would not; this is the crux of the dividend irrelevance proposition of Modigliani-Miller that is examined in detail here. Two other theories of dividend policy - the traditional and radical view - are also explained in detail.

    Course Duration

    60 mins

    Prerequisite Knowledge

    Corporate Finance – An Introduction

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  •    MERGERS & ACQUISITIONS (M&A)

    Overview

    This course provides a broad overview of mergers and acquisitions (M&A). It describes the potential motives for engaging in a merger such as synergies, revenue enhancement and tax benefits. The defensive tactics available to firms subject to a hostile takeover bid and the different stages and participants in the merger process are described in detail. Finally, the history and development of the M&A market and relevant market codes and regulation are also discussed.

    Course Duration

    75 mins

    Prerequisite Knowledge

    Corporate Finance - An Introduction

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  •    CORPORATE FINANCE - ACQUISITION ANALYSIS

    Overview

    The most important element in any acquisition process is the expected synergies to be realized through the acquisition. The more synergies that can be reasonably expected, the higher the price an acquirer will be willing to pay for the company to be acquired.

     

    This course looks at the importance of synergy in determining the ultimate value of an acquisition. It describes how acquisitions can be quantified and valued using a free cash flow or an economic profit approach. In both cases, synergy is discussed as the primary driver of value in the analysis of acquisition candidates, and the need to quantify the synergies properly is addressed.

    Course Duration

    75 mins

    Prerequisite Knowledge

    Mergers & Acquisitions

    Corporate Finance – Measuring Business Performance – Free Cash Flow

    Corporate Finance – Measuring Business Performance – Economic Profit

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