Financial Modelling

This course will help delegates build financial models through a range of practical model-building exercises. It will assist in the understanding of valuations and will review the most common methodologies used by the market. It is suitable for IR practitioners who have a sound understanding of accounting, an interest in valuation and basic excel skills. This practical, interactive course, runs in a workshop-style format, using Excel, so delegates will be expected to have access to a laptop rather than a tablet or handheld device during the course.

Programme

• Financial Modelling House Keeping – what makes a professional model?
• How do analysts go about forecasting?
• Choosing model design parameters
• The model starting point: An integrated set of P&L, Balance Sheet & Cash Flow forecasts
• Dealing with debt and circularities
• Reviewing analyst models for typical flaws and weak points

(Attendees will receive an information pack in advance containing the basic model to be used for the course, including historic P&L, Cash Flow and Balance Sheet statements).

What will I gain?

• The overall approach analysts take to a professional model
• The ability to build an integrated set of P&L, Balance Sheet and Cash Flow forecasts consistent with the methods taught to sell-side and investment banking analysts.
• Knowledge of key forecast metrics such as: EBITDA, EBIT, EPS etc.
• Turning a forecast model into a valuation

Who should attend?

IR professionals who review and/or interpret analyst models
The next course having completed the Valuation Essentials for IR Professionals course

Course Tutor

Professor Kenneth Lee

Director of postgraduate taught programmes at Loughborough Business School

Professor Kenneth Lee

Director of postgraduate taught programmes at Loughborough Business School

Kenneth is a Professor in the Accounting and Finance research group of Loughborough Business school and the Director of Postgraduate Taught programmes. Prior to this he was an Associate Professorial Lecturer at the London School of Economics and Political Science. He is a member of the Capital Markets Advisory Committee (CMAC), a body supported by the IFRS Foundation, which interprets proposed accounting changes from the perspective of capital market participants. Before academia Kenneth was a Managing Director & Head of European Equity Research at Barclays Capital, where he worked for 8 years before leaving in August 2017 to take up a number of academic positions. Prior to this he was also a Managing Director and a ranked accounting and valuation analyst at Citi Investment Research in London. He holds a doctorate from Aston Business School, is a Fellow of the Institute of Chartered Accountants, a member of the Institute of Taxation and a CFA Charterholder.