Finance for Lawyers - M2

Finance for Lawyers – Module 2 is an intensive, follow on module to the Finance for Lawyers – Module One course. It is designed to allow delegates to consolidate what they learned in the first module through the use of additional case studies and to add to their knowledge by introducing the additional subjects of basic corporate finance theory, the cost of capital, business valuation, private equity and a basic overview of capital markets in general. The objective is to provide the delegate with a holistic overview of the major elements of global financial activity. The course is in the style of a series of presentations with a number of integrated case studies. Delegates are required to carry out a fair amount of financial manipulation and are encouraged to develop their knowledge of spreadsheets in a number of the case studies. The course is ideal for lawyers and others, who, whilst not working directly in functions requiring a detailed knowledge of finance, need to be familiar with the overall concepts and language used in financial analysis, credit transactions and other corporate finance activities. By attending this practical three day training course, you will consolidate what you learnt in Module 1, and gain an understanding of key additional subjects, including: Corporate finance theory and the cost of capital Cash-flow, earnings-based and other valuation techniques and approaches Private equity, including how value for investors is created Capital market products and the equity and debt markets FEATURING: numerous case-studies throughout, including analysis of the financial statements of an: Electrical Goods Retailer; and a Luxury Product Manufacturer Who should attend: In-House Lawyers in international financial institutions and companies from across a range of industry sectors, including, aerospace, energy, and technology among others. Comments from attendees of Finance for Lawyers Module One: “ The information was invaluable and very relevant to my work” US Virgin Islands Economic Development Authority "A very good course for business lawyers” Audur Capita “The trainer was very knowledgeable” BAE Systems
Day 1 - Developing And Applying Financial Analysis Skills Refresher Of The Material Offered In The First Module Overview of the analytical approach to business analysis Identifying the skills set required to be a successful analyst Ratio analysis Cash flow Analysis Accounting principles assessment Non-financial analysis Case Study European Electrical Goods Retailer Revisiting the analytical process. Delegates are required to analyse the financial statements of this large listed company using the skills learned in Module One. The case study requires the use of ratio analysis, cash flow analysis and accounting principles review to facilitate the delegates comprehension of the current position and performance of the business. Cash Flow Analysis – Further Techniques Analysing The Cash Flows Of A Growth Company Overview of the cash flow analysis of growth companies Case Study – Growth Company Cash Flow Analysis Delegates restate the cash flows of a growth company Case Study – European Luxury Product Manufacturer Delegates are required to analyse the financial statements of this European listed company using the skills learned in Module One. The case study requires the use of ratio analysis, cash flow analysis and accounting principles review to facilitate the delegate comprehension of the current position and performance of the business. Case Study – Ratio Analysis Delegates match sets of ratios to the actual businesses in different sectors. Overview Of Global Accounting In The New Century The history of international accounting Current international accounting approaches The major issues in international accounting The implications of the IAS Initiative Currently contentious accounting issues Day 2 - Basic Corporate Finance Theory, Cost Of Capital And Overview Of Valuation Introduction To Corporate Finance Theory And The Cost Of Capital Estimating the cost of capital The cost of debt The Capital Asset Pricing Model The cost of equity Portfolio theory The Equity Risk Premium Weighting the two estimates Mogdiliani Miller and the theory of Leverage Case Study – Cost Of Capital Delegates estimate the cost of capital for two different companies using the information given in the case. Cash Flow Valuation Techniques Preparing a forecast Identifying the free cash flows Completing the valuation Case Study – Beautific Using a spreadsheet delegates use the information in the case to create a simple cash flow valuation of a business at different stages in its life cycle. Earnings Based Valuation Approaches Identifying the appropriate values from the financial statements Avoiding the main pitfalls The use of peer groups as a control Case study - Earnings valuation Other Valuation Approaches Five Asset based approaches Dividend discounting Case Study - Valuation - Magnificence Delegates use all the techniques introduced during the day to value a business using the four valuation techniques offered. Day 3 - Private Equity And Introduction To Capital Markets Introduction To Private Equity What is private equity? Glossary of private capital terminology Raising a fund Investing the fund Creating value for investors Realising the benefits Structural issues The Need For Growth The relationship between listed corporates and private equity The four phases of the corporate lifecycle Identifying appropriate funding structures Recognising the drivers of funding strategies The Private Capital Model Strengths And Weaknesses Benefits and problems of private equity Overview Of Capital Market Products Swaps Futures Options Derivatives Overview Of Equity And Debt Markets Types of traded debt Types of trade equity Basics of performance assessment Overview Of Investment Fundamentals It all comes back to cash flows? Investment objectives Volatility Conclusion – Overview Of The Lessons Learned The need for caution Identifying all the risks