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Corporate Finance is an important foundation for all financial decisions of a firm. A vast range of business decisions from credit analysis to merger and acquisition activity require knowledge of basic financial principles. These concepts are taught by utilizing both theory and practical applications. While there are procedures and formulas, they need to be integrated with good business judgments. Included in the practical applications will be exercises and reference to a company case. The ultimate objective is to explore methods of valuating a firm and enhancing it with various corporate finance strategies.
Course Objectives
By the end of the course, participants will be able to:
- Calculate and compare advantages and weaknesses of capital budgeting techniques, especially the NPV and IRR of a project
- Stress test project selection decisions based on qualitative factors around valuation
- Calculate free cash flow forecasts and the challenges in determining their proper use
- Calculate the terminal value of a business and determine its appropriate use
- Calculate the enterprise and equity value of a business
- Discuss Behavioral Issues
- Discuss Relative Valuations Techniques among comparable companies
- Assess correct levels of cost of capital for projects and firms of varying levels of risk
- Explain the rationale for capital structure timing and how it can be implemented in a firm
- Discuss other valuation methods including CAPM and Arbitrage Pricing Theory
- Determine the optimal capital structure of a company and its dividend policy
Suggested Prerequisites:
- Fundamentals of the Capital Markets / Securities Industry and Financial Statement Analysis or equivalent knowledge
Program Level: Intermediate
Advance Preparation: None
Computers and Financial Calculators: Computers
Recommended CPE Credits: 7