We listen to our clients and develop quantitative workshops which are informative and add real value. All our workshops are 'hands-on' with theory and demonstrations followed by 'leaning by doing'. This ensures that we provide real-world methods and internationally recognised techniques that can be successfully implemented immediately after the workshops.

Day 1 - Introduction and Overview

Module 1: Introduction

Overview of the course
Common modelling errors
Systematic Design Method
Case study outline
Practical: reviewing model examples

Module 2: Model Template

Starting position
Model layout and design
Required sheets
Key Excel features and techniques
Practical: producing a model framework using best practice

Module 3: Production Forecast

Production sales and volume
Input prices and gross costs
Practical: completing operating statements

Module 4: Fixed Assets

Depreciation of fixed assets
Schedules and workings
Practical: CAPEX and depreciation schedules

Day 2 - Project Financing and Cash

Module 5: Financing and Loans

Loan drawdown
Rate, terms and repayment
Debt amortisation schedules
Practical: Loans schedule with balance sheet and income statement inputs

Module 6: Income Statement and Balance Sheet

Adding income and balance sheet
Model checks on consistency
Dealing with any circular references
Practical: completing and checking the initial statements

Module 7: Tax and Dividends

Taxation methods
Tax shield
Dividend method
Practical: adding tax and dividend sheets

Module 8: Cash Flow

International cash flow
Cash flow to equity and debt providers
Error checking
Practical: cash flow and returns

Day 3: Ratios and DCF

Module 9: Ratios

Loan life / project life ratio
Residual cover
Annual debt service ratio
Principal and debt cover
Accounting ratios - profitability, liquidity, efficiency, structure
Practical: ratios sheet

Module 10: Cost of Capital

Alternative theories – bonds and arbitrage pricing theory
Discussion and agreement on WACC inputs
Asset and equity betas and risk
Mathematical derivation
Practical: deriving beta from data and adding WACC to case

Module 11: Discounted Cash Flow

Methods of adding terminal value
Producing a project/equity valuation
Practical: adding DCF valuation

Module 12: Auditing Techniques

Internal and external methods
Complete model audit
Practical: Checking the model template

Day 4 - Risk, Sensitivity and Optimisation

Module 13: Macros and Automation

VBA in Excel
Writing macros
Checking and auditing macros
Automating workbooks
Practical: adding navigation and table of contents

Module 14: Risk and Sensitivity

Adding risk techniques
Scenarios and sensitivity
Charts
What-if analysis
Dynamic changes
Practical: Adding sensitivity and scenarios

Module 15: Optimum Structure and Targeting

Achieving a target valuation
Goal seek method
Testing valuation with leverage and structure
Practical: Targeting the case to improve structure and result

Module 16: Management Summary

Producing management summary
Returns analysis
Required model documentation
Tracking changes