- Business valuation - Share value - Mastering company valuation and earn-out methods M&A transaction pricing Principles of share valuation (dividends, PER, payout ratio) Mastering equity engineering
- Financial profitability (ROE) and leverage - ROE (return on equity) - Return on equity - DPS (dividend per share) - Payout ratio - TSR (total share return) - leverage - leverage effect Revenues (sales) - Sales recognition - Contract analysis - Performance obligation - Price allocation
- Financial risks: counterparty, liquidity, interest rate, foreign exchange, equity - Analysis, valuation, risk mapping and hedging strategy: - Counterparty risk: financial analysis and mastering rating practices (internal, external) - Liquidity risk: ALM and group cash flow forecasts - Interest-rate risk: TF and TV loans, bond issues - Foreign exchange risk: exports, imports, hedging - Equity risk: dividends, share acquisitions and disposals, dealing room) - Project & (dis)investment risk Master the identification and valuation of financial and non-financial risks
- Securities and financial markets - Notions of cost of money, liquidity, inflation, capitalization, discounting, interest calculations, actuarial calculations
- Mergers & Acquisitions Transaction - Master the implementation of acquisition/disposal processes (letter of intent, due diligence, acquisition and dataroom audits, binding offer, negotiation, closing) - Understand the transaction environment: negotiation, financial and regulatory environment
Acquire expertise and pass it on
Target audience
- Internal auditors
- Bankers / account managers
- Financial directors and controllers
- Chartered accountants, statutory auditors
- Members of M&A teams
- Finance, consolidation and accounting managers
- Treasurers
1 day
New training
Financial mathematics training
Prerequisites
This financial mathematics training course is designed for people with a good command of business valuation, for example having taken the "Business Valuation" course.
Business Assessment - Executive Level [FHEVAE]]
Mastering a complex environment
Objectives
◗ Perform the main financial calculations required for company valuations
◗ Integrating risk and time value into valuation methods
◗ Apply this knowledge to different approaches to business valuation
◗ Analyze specific valuation cases
Training program
◗ Structuring a professional assessment approach
- Different contexts: disposal, acquisition, litigation, reorganization
- Economic logic: value in use, market value, replacement value
- Economic assets, net debt, capital employed: definitions and restatements
- Context and process: before the deal, during the deal and after the deal
- Assessing the value of synergies
- Taking into account the phase of the company's life cycle
✔ UNDERSTAND | Illustration: diagrams of business valuation methods
✔ EVALUATE | Quiz: validation of prerequisites with 12 questions
◗ Applying the main valuation methods
- Reminder of the main financial metrics used in valuation
- Net asset value, discounted cash flows (DCF), comparable multiples, options
- Cost of capital, WACC, sector beta, terminal value and associated risks, growth and reinvestment rates
reinvestment rates
- Strengths, limitations and criteria for choosing between methods
✔ UNDERSTANDING | Analysis: comparative grid of valuation approaches
✔ APPLY | Case study: value a company using 3 methods and compare results
results
✔ ASSESS | Quiz: what do you think... What can we learn from comparing
between the value of shareholders' equity and the market value of shares?
◗ Applying contextualized approaches to make assessment more reliable
- Restatement of rents, R&D, employee benefits, IFRS16
- Specific valuation methods: intangible assets (brand, patent), separate business,
securities (mergers & acquisitions), valuation of start-ups, turnaround companies
liquidation value, value of a loss (in litigation)
- Market value of debt
✔ UNDERSTAND | Study of R&D reprocessing in a real case study
✔ APPLY | Case study: assessing intrinsic value based on information provided
✔ EVALUATE | Quiz: in your opinion... Which duration to retain? What growth rate?
◗ Interpret results and add value in a context of uncertainty
- Construction of a value range
- Integration of synergies, control or minority premiums
- Taking variability into account and modeling risk, using the
Monte-Carlo method
- Accepting or rejecting a valuation, statistical tests, confidence intervals and accepted errors
✔ APPLY | Case study: accepting or rejecting a VT based on a model
✔ EXPERIMENTATE | Taking a step back: 4 reflexes in evaluation
✔ EVALUATE | Quiz: in your opinion... What sources of information for the evaluator?
Why choose this course?
The practice of financial analysis and business valuation requires an understanding of the mathematical foundations underpinning the calculations, particularly through the consideration of time and risk, and involves specificities linked to particular contexts. This lively, dynamic module, designed as a comic strip, covers all the concepts in a single day, as well as their concrete application in a spreadsheet environment. Follow the thread of our story as it guides you to the actuarial Grail!
Teaching and assessment methods
Before: self-assessment quiz
During the session: each point covered is accompanied by practical examples and real-life cases. Application cases (including Excel models), interactive quizzes and discussions during the session ensure that you acquire the knowledge you need.
After: The trainer is available to answer any questions relating to financial mathematics training.
See our full training catalog.
Price
1 295 € EXCL. TAX
Testimonials
Financial mathematics training
Financial mathematics training
Financial mathematics training
Jonathan C.
Company
Training