| Home | About us | Services | Contact us | Register/Login |

|
Value Based Management | Value audit | VBM corporate training | Strategic value initiatives | VBM Incentive Compensation |
| Mergers and Acquisitions | Divestitures - sell a business | Acquisitions - buy a business | Private placement - raise capital |
| Venture Catalyst | Business plan development | Management buyout consulting | Exit strategy consulting |

 
 


Applied Corporate Finance and Valuation Workshop (Manhattan, NY)

Introduction
Learning Objectives
Who should attend
Fees, Calendar, Registration
Location
Program Level & Preparation

CPE credits
Instructors
Course Outline
Course Procedures

Printable Brochure


 


Applied Corporate Finance and Valuation (Manhattan, NY)
Fundamentals and best modeling practices (Course is CPE Accredited)

Introduction

Register for our 3-day Corporate Finance and Valuation workshop. A clear understanding of what drives the valuation of a project or a company is critical for making any business decision. In this course, we will learn that the determinants of value are a company’s ability to generate cash and the timing and risk of those cash flows. We will explore multiple-based approaches that come handy for quick and rough estimates of business valuation. In addition, the course will expose participants to traditional cash flow techniques, as well as advanced valuation techniques that are used to value managerial flexibility inherent in many business situations. The course will discuss the valuation methods in the context of both developed and less-developed capital markets. We will teach this course with a mix of theory and hands-on practice using case studies from Harvard Business School.

Learning objectives

Have a clear comprehension of what drives the value of a company
Make more profitable investment decisions to enhance value
Understand most widely-practiced and robust valuation techniques
Know how to critically analyze an investment proposal
Be better equipped to negotiate terms of an investment transaction
Appreciate the limitations of traditional NPV methodologies in valuing managerial flexibility
Be able to choose a valuation method appropriate for your company

(see course outline)

Who should attend

This course has been formulated specifically for executives that require a high level of corporate finance acumen, such as: Chief Financial Officers, corporate planning and strategy managers, business and strategic development executives, heads of business units, corporate finance professionals, treasury managers and analysts, financial analysts, corporate advisors, investment managers, and finance and accounting managers.


back to top


Fees, Calendar, Registration

Fees

Registration fee is $2,900 per attendee. The course requires 3 days to complete. Each day includes two 15-minute breaks and 1 hour for lunch. Registration starts at 8:30 AM. The training runs from 9:00 AM to 5:00PM.

Calendar and registration

June 2 -4, 2008 - TO REGISTER CLICK HERE

Location

140 Broadway, 46th Floor, New York City


Program Level & Preparation

There are no prerequisites required. We find that the workshop is well suited for all levels of understanding, providing basic to advanced material in an easy-to-understand format. No advance preparation is necessary, however, participants must bring pens/pencils, erasers, calculators and a laptop with excel loaded to do workbook exercises.

back to top


CPE Credits

There are no prerequisites required. We find that the workshop is well suited for all levels of understanding, providing basic to advanced material in an easy-to-understand format. No advance preparation is necessary, however, participants must bring pens/pencils, erasers, calculators and a laptop with excel loaded to do workbook exercises.

back to top


Instructors

Waseem Anwer

Waseem Anwer is Managing Director of Chicago Capital Group, a New York based advisory firm and strategic partner of IDG Capital Group. He advises companies on issues in finance, strategy and governance. Mr. Anwer regularly teaches at public programs organized by London-based Institute of International Research (IIR) in Dubai and American Management Association (AMA) in New York. He also teaches corporate finance at the City University of New York.

Mr. Anwer has advised corporate clients on restructurings and strategy, value based management, capital structure and financial policy, investment transactions and valuations, real estate investments, organization structure, and executive compensation. He has assisted family-owned and public companies with diverse business cultures in both developed and emerging economies in North and South America, and in the Middle East. He has been a guest speaker at several universities and conferences.

Previously, Mr. Anwer was a Vice President with Stern Stewart & Co in New York. He was also with Hewlett-Packard Company for five years. Waseem holds an MBA, with specialization in analytical finance, from the University of Chicago. In addition, he earned an MS in computer engineering from Syracuse University and holds a bachelor’s degree in electrical engineering. He lives in New York City.


back to top

Course Outline
The course requires 3 days to complete. Each day includes two 15-minute breaks and 1 hour for lunch. Training runs from 9:00 AM to 5:00 PM, however we ask all participants to be in class by 8:30 AM for registration.

TOPIC
LEARNING OBJECTIVES
Overview of valuation techniques

Discounted cash flow valuation
Relative valuation
Contingent claim valuation

Fundamental concepts
Discounting mechanics
Net present value rule
Valuing perpetuities
Understanding comparable multiples
Internal rate of return and shortfalls
Discounted cash flow valuation Enterprise valuation
Equity valuation
Adjusted Present Value (APV) method
Defining and measuring cash flows
Cost of Capital

Relationship between risk and return
Cost of debt and equity
Measuring business risk
Weighted Average Cost of Capital (WACC)
International cost of capital framework
Obtaining betas for private companies

Value drivers and cash flow modeling

Building a financial statements driven framework
Forecast horizon and choices in terminal values
Issues in capital budgeting

Adjusted Present Value (APV) method

Usefulness in situations with complex tax or financing scenarios
Separation of sources of value: operations and financing
Comparison of APV with WACC method

Mergers & Acquisitions valuation issues
Valuing synergies
Control and liquidity discount/premium
Pricing acquisitions
EVA valuation approach
Valuing synergies Control and liquidity discount/premium
Benefits in reduced weight of terminal value
Extracting expected improvement implied by market valuation
HARVARD BUSINESS SCHOOL CASE STUDIES

Investment Analysis and Lockheed Tri Star. A set of five exercises in capital budgeting. Students calculate and compare various decision criteria (including IRR and NPV) for capital investment projects. This is an introductory case, where relevant cash flows are provided, and the focus is on the discounting mechanics and the decision to invest. In addition, one exercise directly probes the link between positive NPV projects, and value added to the shareholders. The final "exercise" is a three page mini-case analyzing Lockheed's decision to invest in the TriStar L-1011 Airbus project. This drives home the importance of discounting and NPV, and shows the adverse effect of a negative NPV project on shareholder value.

Pinkerton (A). A California based security guard firm considers the acquisition of another security guard company. The value of the target firm and the financing of the acquisition are the key issues.

Concordia Electronic Systems Test. The management of an electronics company is attempting to decide whether to use a single hurdle rate for all projects or to move to a system of different hurdle rates for each of its two divisions.

back to top

Course Procedures


Registration fees are due upon date of confirmed registration. To avoid cancellation fees, participants desiring to cancel must notify us by 4:30 PM EST, Friday, May 16th, 2008.

Cancellation Policy

On occasion courses may be cancelled if the minimum number of participants are not registered five (5) days prior to the presentation date. Participants may elect to receive a full refund or credit towards another course. IDG Capital Group is not responsible for any personal expenses incurred due to course cancellation.

Refund & Attendee Cancellation Policy

A full refund is given if cancellation is received prior to 4:30 PM EST, Friday, May 16th, 2008, after which a $200 cancellation fee applies if the cancellation is received prior to 4:30 PM EST, Friday, May 23rd, 2008. No refund applies for cancellations after 4:30 PM EST, Friday, May 23rd, 2008.

IDG Capital Group will respond to and address all requests and issues within a 30-day period. All concerns should be addressed to:

VBM Education Administrator
IDG Capital Group, Inc.
14 Wall Street, 20th Floor
New York, NY 10005
Tel: 212-248-0881
info@idgcapitalgroup.com

back to top