Investment Banking InstituteProviding Financial Training Solution to Capital Market Aspirants

Certification in“Financial Modeling and Company Valuation”

From Investment Banking Institute

“Basic and Advance Excel Specialist”from MICROSOFT (USA)

Bridging the gap between academicsand real life applications

Tel:. 011-42244126

Mob:. +91-9310040603

www.ibinstitute.in

47/16, Rajender Park Marg,

Opp. Rajendra Place metro Station,

New Delhi-110060IBInstituteInvestment Banking Institute

Investment Banking Institute (IB Institute) is an "independent and autonomous training institute” which offers advanced level practical training on Advance Excel, Fundamental Analysis, Equity Research, Financial Modeling, Project appraisal, Company Valuation, Mergers and Acquisition and Advance Macro (VBA) to Working professionals and students.

IB Institute was founded in 2009 by the ex-consultants and investment bankers having experience from top notch Investment Banking and consulting firms in the World. IB Institute provides instructor-led (Live) training and e-learning (Online) courses which develops the competitive profiles of the students for the interview and the working professionals on the job.

After two years of successful completion, IB Institute is proud of training over 600 students in over 40 batches. The reason for success is the passion for teaching as well as exceptional experience of our trainers who are imparting their best and sharing their live experience. We ensure to make the session more live, provide more exposure with real issues to make a great learning experience for everyone.

Our teaching methods ensure maximum comprehension in the shortest possible time. We provide a dynamic learning environment with lots of practical hands on exercises and real world examples. In general, all high-paying finance jobs will require knowledge and skills found in our syllabus for the interview and on the job. Reading the annual report, Financial Statement analysis, Forecasting, Valuation and financial modeling are an integral part of the day-to-day responsibilities of any professional working in the main stream Finance.

We offer our training program in the workshop format. All these workshop are interactive based on real life situation. Beside,

we make full use of, Participatory Exercises, Case Studies, and Practice Sessions. The Participant are given Comprehensive

Reference Material & workbook witch is used by them during the workshop. The material also serves as a useful guide in

future.

Course Highlights:-

Industries where Financial Modeling is Used:-

1. Copal Partners2. Evalueserve3. Adventity4. Ernst & Young5. Amba Research6. Aranca7. SBI Capital8. Barclays Capital9. CiansAnlytics10. Crisil

11. D E Shaw12. ICRA13. Analec Research14. pipal Research15. Smart Cube16. Transparent Value17. Morning Star18. McKinesy19. JP Morgan20. Gridstone Research

1.Basic and Adv. Excel2.Financial Accounting and Financial Statement Analysis3.Navigating the Annual Report4.Financial Modeling using Adv. Excel5.Valuation Techniques (DCF, Relative Valuation, Transaction)6.Mergers and Acquisition7.Visual Basic of Application (Macro in Excel)

Companies:-

Note: Candidate will be designing these models from scratch .

Financial Modeling & Company Valuation Using Excel and VBA

2 Months / 16 Days

§ Investment Banking§ Project Appraisal§ Private Equity§ Hedge Funds§ Equity Research§ Corporate Finance§ Knowledge Process Outsourcing§ Asset Management§ Rating Agencies§ Consultancy

Day 1,2& 3: Excel 2010 for Professionals:Here at IB Institute, we are specialists in offering expert level training courses for you to learn

Advanced Excel and other great features of Excel. As part of our Advanced Excel training you will

gain the necessary knowledge required for the efficient use of the tools and other exciting features

which this outstanding software has to offer.

There are many features which Advanced Excel has to offer to its user. In this training, we explain

each & every advance tool which is used by practitioners. IB Institute's training leaves no stone

unturned when it comes to making sure that you learn the Advanced Excel effectively and

efficiently.

In this way you will have the capabilities and required knowledge to really unleash the great power

of Advanced Excel once you have made use of the Advanced Excel training courses which we

provide.

Day 1 Basic Excel Formulas and Functions:-üDefine short cut key to open Excel

üBasic Mathematical Functions: Sum, Average, Sub Total, Sum Product

üBasic Insert and delete short cuts to improve working with Excel

üCustomizing Short cut keys, Find and Replace, AutoFill

üPaste Special, Sorting, Go to Special, Clear tools, AutoFill, Formulas Auditing tools

üLogical Functions:IF, Nested IF, IF with And & Or, Use of $, Use of & to concatenate

üStatistical Functions: SumIF, SumIFs, AverageIF, AverageIFs, CountIF, CountIFs

üDatabase Functions:Dsum, Daverage, Dmax, Dmin, Dcount, Dget

üMath & stat Function:Rank, Large, Round, Trunc, Int, Mround, Ceiling,Floor Etc

üThree dimensional Formulas, SubTotal to summarize the data, Remove duplicates, Text to Columns

üWorking with Ranges, Conditional Formatting, Grouping

Day 2 Adv Formulas and FunctionsüInformation Functions:IfError,IsError, IsNumber, IsBlank, Cell

üLookup Functions:Vlookup, Vlookup with IF, Match and IsError, Index, Indirect, Nested

Vlookup, Hlookup, Choose, Offset, Hyperlink, Address, Rows etc

üText Functions: Right, Mid, Find, Search, Len, Trim, Replace, Substitute, Proper, Upper

üAdv Sorting, Filter, Adv Filter, Data Validation, Consolidate, Define ranges

üProtection of ranges, sheets, workbook, Track changes, working with multiple worksheets and

workbooks, save workspace, Spinner, scroll bar, List box, combo box

üFinancial Functions: PV, FV, IPMT, PPMT, PMT, Rate, FVschedule, NPV, IRR, Nominal, Effect,

CumIPMT, CumPrinceetc

üDate & Time: Custom Formatting, Date & Time Conventions, Today, DatedIF, Weekday,

Networkdays, Workday, Edate, Eomonth etc

üWhat if Analysis: Goal Seek, Data Table for sensitivity analysis, Scenario manager

üUnique excel calculations and features

üInserting sparklines, Setting document permissions

üPivot table with large amount of data, Cover all Tabs from Home to Developer

Day 3 Data Analysis Tools

Financial Modeling & Company Valuation Using Excel and VBA 2 Months / 16 Days

Using Excel and VBA 2 Months / 16 DaysFinancial Modeling & Company Valuation Using Excel and VBA

2 Months / 16 Days Financial Statements Analysis and Accounting:Day

4 & 5

Financial and Valuation Modeling requires a solid understanding of accounting and financial statement interaction.

Accordingly, IB Institute has developed Crash Course in Accounting & Financial Statement Analysis, which is very

important for students with a limited knowledge of accounting or who wants to refresh their accounting concepts in a fast

track mode without leaving the important concepts behind.

We are not looking for a Debit / Credit discussionhere; we shall focus more on structure of

Financial Statements, all different line items and how Financial statements

are linked with each other.

Our in-depth course in Financial Statements helps you learn and

masterthe subject which is actuallyvery critical to the start ofyour finance

career. This course will make you a Future Finance Professional not an

accountant as the focus is on analysis, proper interpretation and check

manipulation of accounting numbers to getcloser to the real No's required

for analysis and valuation.

üIncome Statement, Balance Sheet, Cash Flow Statement defined and

importance explained

üGo through every line item of the Financial statements and Related accounting standard

üInteractions between financial statements and do an Impact analysis

üUnderstand how financial statements are linked and how change in one item affect the others

üOverview and explanation of all major financial ratios and there uses in difference sectors

üDuPont RoE, Breakup of RoIC (RoIC tree)

üUnderstand various accounting methods used and their implication to the Financial Statements

üLearn all the three Financial Statements with Numerical Examples and cross check with the Annual

üMethods of Consolidations of a subsidiary company with the holding company

üFinancial Reporting vs Tax reporting, Reasons for Deferred tax

üComplete with exercises that test and reinforce covered concepts.

This part of the course efficiently provides the required accounting foundation for students enrolling in the Adv Level

courses of IB Institute

Basic Financial Modeling Using Excel (Case Study of FMCG)

Overview of the Program:

Financial Modeling refers to the process of building a structure that integrates the Balance Sheet, Income Statement, Cash Flow Statement and supporting schedules to enable decision making in areas like, Business Planning and Forecasting, Equity Valuation, Credit Analysis/Appraisal, Merger/acquisition analysis, Project Appraisal etc. Trainees learn how to build full, dynamic Financial Statement Projection models in Excel from scratch, using real case studies and sensitivity analyses.

Participants develop a model completely from scratch, inputting historical data and assumptions to project financial statements using step-by-step instruction on selecting and developing appropriate projection drivers. At completion, participants will have developed a complete and comprehensive three-statement model using various supporting schedules.

Day 6 & 7

Using Excel and VBA 2 Months / 16 DaysFinancial Modeling & Company Valuation Using Excel and VBA

2 Months / 16 Days

By now the participants would have learned the art of Financial Modeling. They should have under stood the

Advance Excel, Financial Accounting, various ways to prepare schedule for Financial statements. In

this part of the course, we are becoming more technical into Financial Modeling and prepare

more robust Oil and Gas sector based Financial Model for a US listed company.

This course is designed for finance professionals who are willing to pursue or pursuing

career in Oil & Gas. You will get deeper knowledge about the participants in the sector,

accounting terminology, key challenges, and major line items of Oil & Gas Company.

This course allows trainees to develop an in-depth understanding of the industry,

including financial statement analysis, appropriate Oil & Gas projection drivers such as

commodity prices, production volumes, and operating costs. At completion, trainees

will have developed comprehensive financial and valuation models for an

Exploration & Production company case study.

2 Months / 16 DaysOil & Gas Financial ModelingDay

8 & 9

Key Learning Outcomes§ Building comprehensive financial models from scratch for a Listed Company.

§ Learn to define assumptions and make forecast for Income statement, Balance sheet and Cash Flow statements with required item based schedules.

§ Integrate assumptions and drivers into financial models based on the information available in the Annual report.

§ Design various supporting schedules of: Working Capital, Deferred Taxes, Property, plant and equipments / Depreciation, Intangible Assets, Retained Earnings , and Debt & Interest

§ Calculate Ratios to identify Strength and weakness of the Firm

§ Perform sensitivity & Scenario analysis using data tables, Choose and Offset

§ Balance the model using the debt schedule and debt sweep logic.

§ How does the revolver facility actually balance the model?

§ How the financial statements are integrated using the Interest schedule?

§ What are circular references, why should they be avoided and how to deal with circular references

Interactive, Step-by-Step Learning Approach:

Participants are given step by step instructions to build comprehensive models from scratch, the way it is done on the job by the Investment Banker. They are directed to external documents and resources (like Annual Report, Press Release, Quarter filings etc) needed for more information to make the model more accurate.

Key Learning Outcomes:-Different business segments – Upstream, Midstream, and

Downstream – that make up the O&G industryü

üOil and Gas accounting and Financial statements analysis

üLinks between three Financial statements and how they are different with normal companies

üUnderstand different types of Oil & Gas Reserves

üLearn different ways of presenting Oil & Gas reserves capacity, production into units

üConversion factor of Oil to Gas and Gas to Oil,

üFactors determining crude oil and natural gas prices

üLearn O&G terminology, units, and key related terms

üDistinguish between full-cost and successful efforts accounting methods

üHow to Forecast crude oil and natural gas prices

üVarious ways to project Revenue of E&P company and how to project operating expenses

üMake projections for Exploration cost,

This is not "academic financial theory," but exactly what we do in real life in an investment bank. After this course, you will differentiate yourself from other IB professionals and students at top schools – even those with the best academic pedigrees and the highest GPAs.

Valuation is the Process to determine the current worth of any asset. In our course, the asset is a company. For the valuation of companies, following are the three widely used techniques.

Ø DCF valuation

Ø Relative Valuation

Ø Transaction Valuations

In general all main stream finance profiles require the valuation skills found in our course. We shall take the most important three techniques which are used in every research house, Rating agency, Investment bank, consulting firm, Private equity and KPO. We shall understand the application of the techniques with real case studies and companies.

Financial Modeling & Company Valuation Using Excel and VBA

Discounted Cash Flow model (DCF) Modeling:

In Financial modeling, cash flows are only forecasted where as in DCF valuation; those cash flows are used to derive the intrinsic value of the company.

So by now the participants would have learned how the Financial Model is designed and Projections are made for the Company. Now we learn how to use Financial Models in Valuations. Valuation is the most important part the investment banking and corporate finance skill set. You need to have theoretical knowledge of valuation before building valuation models.

Key Learning Outcomes

When the theoretical frame work is laid down, the participants start learning DCF model which includes the calculations of FCFF, WACC, Terminal Value, Levered and un-levered Beta and Intrinsic Value.

2 Months / 16 Days

Day 10

ü Using cash flows forecasted in the course, participants learn to prepare a DCF valuation model in Excel from scratch

ü Understand differences between Enterprise value & Equity value, relative value & intrinsic value, Un-levered and levered free cash flows, and the implication on Enterprise value and implied share price.

ü Deal with Non-equity claims, WC, CapEx and debt related items

ü Calculate Terminal value with Multiple and Perpetual method

ü Use of CAPM to calculate the discount rate by deriving the cost of debt of equity.

ü Understand the role of capital structure in determining beta, the cost of equity, and ultimately WACC.

ü Understand use of beta and how to de-lever and re-lever beta and implication on WACC.

ü Calculate shares outstanding using the treasury stock method when Dilutive securities are ITM (In-the-Money)

ü Utilize the enterprise value to determine implied share prices.

ü Calculating net debt and treatment of debt equivalents such as preferred stock, convertible securities , capital leases , and minority interest

ü Calculating options and convertible securities using both the standard and treasury stock methods

Relative valuation modeling in Excel:

Comparable Company Trading Analysis ('Comps') is the most basic but effective valuation tool used by investment bankers and analyst. This technique used in all kinds of valuations. For example:- Private market valuation, IPO valuation, comparative analysis, identifying potential targets for M&A etc

Establishes value of A Company and measures its performance vis-à-vis the operating and trading statistics of company's peer group

The participants are first explained how to select the Peer Group (Comparables) before building the Models for Relative Valuation. In this part of the Program, we shall learn to design the real Template for Trading Combs which is actually used various Research companies.

Then we shall take 10 companies from world over for relative valuations.

Then participants are directed to build superb comps models in Excel from scratch, using real case studies, industry best practices, and sensitivity analyses.This model includes Switches, Output sheet, Valuations sheets, Currency Converter and forecasts.

Training Methodology:

Financial Modeling & Company Valuation Using Excel and VBA

Day 11 & 12

2 Months / 16 Days

Leaning Outcomes:

· Participants learn to select appropriate comparable companies by evaluating operational, financial, size, and other similarities

· Set evaluation benchmarks & select comparable companies

· Gather appropriate financial history and projections

· Normalizing operating results and calculating LTM operating results

· Exclude nonrecurring charges, normalize for stock option expense

· Standardize various expense classifications including FIFO to LIFO inventory accounting

· Calculate shares outstanding using the treasury stock method

· Input financial data & calculate and interpret financial and market ratios

· Presenting trading comps by structuring output schedule

· Selecting and Evaluating Appropriate Multiples (P/E Trailing and forward, EBIT Multiple, EBITDA Multiple, P/B Multiple, Revenue Multiple, PEG)

· Calculate and interpret financial and market ratios Common analytical challenges including Calandarization, nonrecurring items, dilutive securities, and classification issues are addressed using industry best practices.

The “Comparable Transaction Analysis” or “Comparable Acquisition Analysis” is based on the premise thatthe value of a company or an asset can be estimated by analyzing the prices paid by purchasers ofownership interests in reported comparable acquisitions.

The analysis provides a history of selected transactions either in one particular industry or in one areawhere acquired companies have relatively similar characteristics in terms of economic drivers such asbusiness mix, customer base, distribution channels, industry dynamics, etc.

Transaction multiples define the prices which acquirers are willing to pay for control of the target companyin the context of an acquisition transaction. By applying transaction multiples to the financial results ofthe company being analyzed, it is possible to determine a range of value.

Day 13 Transaction Valuation Techniques:

6.Calculation of LTM Net Income, EBITDA and EBIT 7.Computation of transaction multiples

Learning objective:1.Company Description2.Identification of Comparable companies

3.Computation of Equity Value 4.Determination of Net Debt Assumed 5.Calculation of Firm Value and share price

Prepare a comprehensive Merger Model:

· Design and Set up a control area for assumptions and drivers

· Learn to deal with deal assumptions and various issues like (% cash vs. stock considerations, Purchase premium, Asset write-ups, Advisory fees, Financing fees, and severance fees)

· Use of Treasury method to calculate shares outstanding

· Appropriate treatment of convertible securities like Options, Warrants, Convertible debt and Preferred stock

· Calculate Goodwill while allocating Purchase price to assets after re-evaluation of the assets of the target company

· Adjust the Balance sheet and prepare the pro-forma Balance Sheet

· Calculating Sources & Uses of funds with making the operating & synergy projections

· Calculate the EPS post merger after making the adjustments to Income statement and prepare the pro-forma Income statements

· Synergies required to break-even before and after tax if premium is paid

· Sensitivity analysis: EPS accretion/dilution in stock vs. cash deal; interest rate assumptions, premium paid.

· Analysis of contribution of Revenue, EBITDA, and Net Income post merger

· Superb exhaustive accretion-dilution analysis

· Buy side and sell side processes

· Project the Consolidated Financial statements post merger and do the various adjustments for goodwill calculation

· Handle the Fair market value write ups, advisory fees and financing fees and debt refinancing

· Learn the proper treatment of various items like deferred taxes created in M&A and convertible securities and options.

This model is designed with very practical approach to see the impact of acquisition of one company by another company after the real adjustments have been made to Financial Statements.

M&A Accretion/Dilution Modeling

Financial Modeling & Company Valuation Using Excel and VBA 2 Months / 16 Days

Day 14 Mergers and Acquisition Analysis”

Overview of the Program:

· The participant are first explained the concepts of Merger and acquisition.

· Participant build a model of M&A to see the pro forma impact of various scenario post merger

· Understand the allocation of purchase price with Purchase method of accounting post merger

· Under the accretion-dilution in EPS after the merger in various scenario after adjustments

· Various methods for the payments (Stock based or cash based)

Basic and Semi Adv. Macro (VBA)Day 15

üUnderstanding Macro (VBA)

üRecording a Basic Macro, assign short cut key, adding

comments to macro

üWrite basic Macro to Understand VBE environment

üRunning a macro, Saving Macro file, debugging the macro,

Understanding Security

üUnderstand Input box, msgbox Commands, create

interactive macro

üDo while…..Loop, Do Until…….Loop, For……Next, IF, If

with IF

üUnderstand various events, protection of macros

üUser Defined Functions, Error handing, break points,

üPractice powerful macro examples