The Advanced Finance Program

The Advanced Finance Program


Date & Location: (12-16/Feb) Kuala Lumpur – ( 24-29/Sep) Istanbul

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Course Overview


  • Think and manage strategically and plan more effectively for the future
  • Identify the role of financial management in strategic decision-making
  • Use the financial techniques of planning and control
  • Improve performance from the use of the tools of financial analysis

Program Objectives:

  • How are business strategies developed?
  • How does financial management support strategic development?
  • What is the exact nature and scope of the business problems to be analysed?
  • Which specific variables, relationships, and trends are likely to be helpful in analysing problems?
  • Are there possible ways to obtain a quick ‘ballpark’ estimates of likely outcomes of decisions?
  • How precise an answer is necessary with regards to problem-solving and decision-making?
  • How reliable are available financial data, and how is uncertainty and risk likely to impact on the outcomes of decisions?
  • In economic and financial analysis, what are the implications and relative importance of cash flow as distinct from accounting profit?
  • What limitations are inherent in financial data and the key financial statements, and how will these affect financial analysis?
  • How important are qualitative judgments in the context of decision-making?


Who Should Attend?

  • General Management
  • Sales and Marketing
  • Estimating and Costing
  • Operations
  • Engineering
  • Project Management
  • Procurement
  • Logistics
  • Asset Management
  • Human Resources

And any other financial and non-financial professionals that need or wish to understand the financial aspects of the strategic decision-making process.


Program Outline:


An Introduction to the Financial Markets

  • An introduction to the equity markets
    • IPO
    • Market Indices
    • International Equity Market Links
  • An introduction to bond markets
    • Long Term versus Short Term
    • Treasury versus Corporate
    • Types of Bond
  • An introduction to the FX market
    • The spot and forward market
    • Exchange Rate trends and linkages
    • Carry Trades
  • An introduction to the Derivatives Market
    • Futures
    • Options
  • The link between risk and return


Evaluating Investment Opportunities

  • The Markowitz model of Portfolio Risk
  • The Capital Asset Pricing Model
    • A practical application of the CAPM to a range of companies
  • The time value of money and discounted cash flow techniques
  • The Gordon Growth Model
    • A practical application of forecasting dividends
  • Determining the Cost of Debt
  • The weighted average cost of capital (WACC)
    • The Ameritrade Case
  • Investment Appraisal using the Net Present Value approach
    • The importance of the cost of capital
    • Scenario analysis
  • Payback and adjusted Payback
  • The Internal Rate of Return (IRR) approach
    • A practical application of the IRR approach
    • Pitfalls in using the IRR approach
  • Real Options


A Walk through an Annual Report

  • The Balance Sheet
  • The Income Statement
  • The Cash Flow Statement
  • Ratio Analysis
  • A practical application of Ratio Analysis
    • Apple v Microsoft
    • Next v Tesco
    • Easyjet v British Airways
  • Forecasting Sales
    • The cost of sales approach


The Corporate Financing Decision

  • Financial Leverage
    • Modiglianni and Millers Theory of Capital Structure
    • The Risk of Bankruptcy
    • The Optimal Capital Structure
  • The Dividend Decision
    • The clientele effect
    • The taxation effect
  • The principal agent problem
  • The market for Corporate Control 


Risk Management

  • Hedging Exchange Rate risk using
    • The forward market
    • The options market
    • Zero cost collars
  • Hedging commodity price risk using
    • Options
    • Futures
  • Practical Application of airlines hedging fuel price risk- the importance of correlation