Modeling

763 views

Published on

Published in: Economy & Finance, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
763
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
17
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Modeling

  1. 1. Executive Education Programs Continuing Education for Corporate Executives and Their Staffs Modeling & Projecting Financial Statements November 5-6, 2009 • Chicago, IL • Course 311-60-09 December 3-4, 2009 • New York, NY • Course 311-50-09 AUDIT • TAX • ADVISORY ©2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
  2. 2. November 5-6, 2009 • Chicago, IL • Course 311-60-09 December 3-4, 2009 • New York, NY • Course 311-50-09 Modeling & Projecting Financial Statements Weaving Business Forecasts into Spreadsheet-based Financial Projections This two-day workshop is for professionals in The Workshop Focus valuation, corporate finance, planning and • Forecasting EBITDA by forecasting sales and operating expenses budgeting, investment banking, asset manage- • Forecasting working capital requirements for future business activity ment, fixed income research, and equity • Forecasting capital expenditures, PP&E, and depreciation research. It will help you weave business and • Non-current operating assets and liabilities: Modeling multi-period effects: When revenues are financial forecasts into spreadsheet-based pro- collected over multiple periods, or expenses are incurred over multiple periods: non-current jections of financial statements. These projec- • Forecasting reserves and allowances tions will help you value a business, test • Understanding and forecasting free cash flows: Contrasting three approaches to measurement of future scenarios, and will give you an integrat- free cash flows: cash-flow budgeting, equity valuation, and credit risk analysis ed view of a business. The workshop will also • Forecasting funding needs and interest expense discuss tools and techniques to make you - Ensuring that the firm meets its debt-to-equity ratio constraints or debt-to-EBITDA constraints more efficient and effective in developing - Meeting seasonal funding needs via revolving line of credit models. • Modeling current and deferred taxes • Cost of capital and risk Prerequisites: • Growth and terminal values • You must bring a laptop with Excel 2000 • Modeling stock options, leases, equity investments, and intangible assets or above to the workshop to build models. • No Internet access is required during the workshop. • A working knowledge of Excel, but advanced knowledge such as macros is not required. • A good knowledge of accounting topics such as indirect cash flows, leases, taxes, and options. Please note: The workshop is not designed for experienced modelers with specific advanced questions. Speaker - Dan Gode Dan Gode continually receives top marks at workshops for his ability to present complex financial topics in an understandable, lively, and practical format. Dan is the co-founder What Past Attendees Say of Almaris E-Learning Systems, which pro- “Excellent overview of the modeling process, great tips and excellent teacher!” vides consulting and training products and Toni Yerardi, Associate Director Finance • Dyax Corporation services relating to accounting, financial “A lot of material covered backed by excellent take away material - well structured program.” reporting, financial statement analysis, mod- Alison Morgan, Vice President Business Development • Rolls-Royce North America Inc. eling and projecting financial statements, and “Good coverage on how to develop the various components of a model. Doesn't seem as daunting to create valuation. Almaris's clients include leading a model from scratch now.” Lorri Hines, Manager Financial Analysis •LifePoint Hospitals financial institutions, corporations, and hedge funds. Dan holds a PhD in accounting “This was a great overview of the most common business drivers with techniques to approach each.” Becky Daniel, Sr. Financial Specialist • Progress Energy and information systems from Carnegie Melon University, as well as an MBA degree ©2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
  3. 3. Modeling & Projecting Financial Statements Agenda Day 1 Day 2 12:15-1:15 - Lunch 7:45-8:45 - Registration and Continental Breakfast 7:00-8:00 - Continental Breakfast 1:15-2:30 Risk and Cost of Capital; Growth and 8:45-10:00 8:00-9:15 Terminal Values Seven Key Value Drivers Free Cash Flows and Funding Needs • Weighted-average cost of capital (WACC) • Operating and investing activities • Contrasting three approaches to versus cost of equity • Free cash flows and needed or excess cash: measurement of free cash flows: cash-flow • A brief discussion of sources of WACC and Financing activities budgeting, equity valuation, and credit risk cost of equity analysis • Methods and assumptions used to determine 10:00-10:15 - Break and Refreshments • Drivers of free cash flows: Return on terminal value invested capital and growth 10:15-11:30 • Sensitivity analysis and data tables Seven Key Value Drivers: (Continued) 9:15-9:30 - Break 2:30-2:45 - Break • Cost of capital and risk • Growth and terminal value 9:30-10:45 2:45-4:00 Financing Activities Modeling Special Topics 11:30-1:00 • Credit risk metrics and the capacity to • Leases Operating Activities: Growth and borrow: Debt/EBITDA and Debt/Equity • Stock options Margins constraints • Equity investments • Sales growth, Cost of goods sold and gross • Iterations • Intangible assets margin, and selling, general, and • Seasonal funding needs and revolving lines administrative costs and EBITDA margin of credit • Forecasting working capital using • Long-term funding needs and term loans, Program Fee: $1,975 receivables days, inventory days, and Recommended CPE Credits: 16 Hours bond amortization payables days Prerequisite: None Preparation: None Level of Knowledge: Basic 10:45-12:15 Field of Study: Finance (FOS Code 43) 1:00-2:00 - Lunch Modeling Taxes Delivery Method: Group Live • An example of a detailed model of current Learning Objectives: Using lecture, detailed 2:00-3:15 Excel-based examples and exercises this course and deferred taxes using PP&E Investing Activities will give participants an understanding of how to • Interaction of deferred taxes with growth develop their own financial statement models, • Depreciation expense, PP&E, and capital • A practical way of modeling deferred taxes allowing them to more efficiently and effectively expenditures analyze information. when detailed data is not available • Depreciating portfolio of assets, capacity planning 3:15-3:30 - Break 3:30-5:30 Modeling Multi-Period Effects: Non- Current Assets and Liabilities • Long-term receivables and deferred revenues: Multi-period collections and deliveries • Long-term prepayments and payables: Multi-period payments and expenses • Allowances and reserves ©2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved.
  4. 4. Registration Information • Modeling & Projecting Financial Statements Online: www.ExecEd.kpmg.com Hotel Accommodations Hotels Phone: (201) 505-6062 Fax: (201) 505-6063 Hotel accommodations may be reserved by calling Chicago, IL E-Mail: us-execeducation@kpmg.com the hotel and mentioning the name of the meeting Meeting Site*: Mail: Complete form and mail with your payment to sponsored by KPMG. The hotel will hold a block of Summit Executive Center • (888) 887-2070 address indicated on the Registration Form below. rooms until four weeks before the meeting date. 205 N. Michigan Avenue • 10th Fl. Blvd. Towers South Chicago, IL 60601 Program Fee Modeling Financial Statements Hotel Site*: Tuition fees are noted in the registration form below. Swissotel Chicago • (312) 565-0565 Each additional individual from the same organization November 5-6, 2009 • Chicago, IL 323 East Wacker Dr. • Chicago, IL 60601 who attends the same course is entitled to a $100 dis- Course 311-60-09 count. The fee is payable in advance for each session. December 3-4, 2009 • New York, NY New York, NY It includes a comprehensive course manual, other Course 311-50-09 Meeting Site*: learning materials, refreshment breaks and lunches. The Coleman Center • (212) 541-4600 Dress is Business Casual. 810 Seventh Ave., 23rd Fl. • New York, NY 10019 Substitutions and Cancellations Hotel Site*: Participants who notify the registrar at least 14 days New York Hilton • (800) 445-8667 before a session may receive a refund of their tuition 1335 Avenue of the Americas at W. 53rd Street less a $185 administrative service charge, or they have New York, NY 10019 the option of receiving full credit to a future KPMG Executive Education program. Registrants canceling *The meeting site is a short walk from the hotel. within 14 days of a session will receive full credit to a future program. Your credit is good up to one year from the date of the session for which you originally registered. Registrants failing to attend a session or not notifying the registrar before the first day of the ses- KPMG LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of sion, will be assessed the full program fee. continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have Substitutions can be made at any time without charge. final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors For more information regarding administrative policies may be addressed to The National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN such as complaints and refunds, please contact our 37219-2417; website: www.nasba.org. KPMG NASBA sponsor #: 103077 offices at (201) 505-6062. Registration Form Mail to : KPMG LLP, Executive Education, Dept. 0503, PO Box 120001, Dallas, TX 75312-0503 Phone: (201) 505-6062 Fax: (201) 505-6063 On-Line: www.ExecEd.kpmg.com 1. Name____________________________________________ Title_____________________ Badge Nickname______________________ Company_____________________________________________________________ Phone (_____)________________________________ Address______________________________________________________________ Fax (_____)__________________________________ City______________________ ST____ ZIP____________ E-Mail________________________________________________________ 2. Name____________________________________________ Title_____________________ Badge Nickname______________________ Company_____________________________________________________________ Phone (_____)________________________________ Fax (_____)________________________________________ E-Mail________________________________________________________ Modeling Financial Statements - $1,975 [ ] November 5-6, 2009 • Chicago, IL • Course 311-60-09 [ ] December 3-4, 2009 • New York, NY • Course 311-50-09 Payment Information Registration fee enclosed $_________________________ (Make checks payable to KPMG LLP.) Charge my: [ ] VISA [ ] Master Card [ ] AMEX [ ] Diner’s Club [ ] Discover Card Account No._________________________________________________ Exp. Date_______________________________________________ Cardholder’s Name____________________________________________ Signature_______________________________________________ ©2009 KPMG LLP, a U.S. limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative. All rights reserved. FORM 311-F09

×