Investment Banking Institute

Providing 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 academics and real life applications

Tel:. 011-42244126

47/16, Rajender Park Marg,Mob:. +91-9310040603 Opp.

Rajendra Place metro Station,

www.ibinstitute.inNew Delhi-

110060

IBInstituteInvestment Banking Institute

11.D E Shaw12.ICRA13.Analec Research14.pipal Research15.Smart Cube16.Transparent

Value17.Morning Star18.McKinesy19.JP Morgan20.Gridstone

Research

Course Highlights:-1. Basic and Adv. Excel2. Financial Accounting and Financial Statement

Analysis 3.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:-1.Copal

Partners2.Evalueserve3.Adventity4.Ernst &

Young5.Amba

Research6.Aranca7.SBI Capital8.Barclays

Capital9.CiansAnlytics10.Crisil

Note: Candidate will be designing these models from scratch .

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

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.

Industries where Financial Modeling is Used:-

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

Day 2 Adv Formulas and FunctionsüInformation Functions:IfError,IsError, IsNumber, IsBlank, CellüLookup 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 rangesüProtection of ranges, sheets, workbook, Track changes, working with multiple

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

Day 3 Data Analysis ToolsüFinancial Functions: PV, FV, IPMT, PPMT, PMT, Rate, FVschedule, NPV, IRR, Nominal, Effect,

CumIPMT, CumPrinceetcüDate & Time: Custom Formatting, Date & Time Conventions, Today, DatedIF, Weekday,

Networkdays, Workday, Edate, Eomonth etcüWhat if Analysis: Goal Seek, Data Table for sensitivity analysis, Scenario managerüUnique excel calculations and featuresüInserting sparklines, Setting document permissionsüPivot table with large amount of data, Cover all Tabs from Home to Developer

Financial Modeling & Company Valuation Using Excel and VBA 2

Months / 16 DaysDay 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 ExcelüBasic 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, AutoFillüPaste 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, DgetüMath & stat Function:Rank, Large, Round, Trunc, Int, Mround, Ceiling,Floor EtcüThree dimensional Formulas, SubTotal to summarize the data, Remove duplicates, Text to ColumnsüWorking with Ranges, Conditional Formatting, Grouping

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

Financial Statements Analysis and Accounting:

Day4 & 5Financial 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 statementsare 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 explainedüGo through every line item of the Financial statements and Related accounting standardüInteractions between financial statements and do an Impact analysisüUnderstand 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 StatementsüLearn all the three Financial Statements with Numerical Examples and cross check with the AnnualüMethods of Consolidations of a subsidiary company with the holding companyü Financial Reporting vs Tax reporting, Reasons for Deferred taxü Complete 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

Oil & Gas Financial Modeling

Day 8 & 9

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

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§ 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

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. Inthis 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.

Key Learning Outcomes:-üDifferent business segments – Upstream,

Midstream, and Downstream – that make up the O&G industry

üOil and Gas accounting and Financial statements analysisüLinks between three Financial statements and how

they are different with normal companiesüUnderstand different types of Oil & Gas ReservesüLearn different ways of presenting Oil & Gas

reserves capacity, production into unitsüConversion 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 effortsaccounting methods

üHow to Forecast crude oil and natural gas pricesüVarious ways to project Revenue of E&P company and

how to project operating expensesüMake projections for Exploration cost,

Financial Modeling & Company Valuation Using Excel and VBA

2 Months / 16 Days

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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 valuationØ 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.

Day 10 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 OutcomesWhen 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.

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 a preferred stock, convertible securities , capital leases , a minority interest

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

Relative valuation modeling in Excel:

Day 11 & 12

Financial Modeling & Company Valuation Using Excel and VBA

2 Months / 16 DaysComparable 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 etcEstablishes value of A Company and measures its performance vis-à-vis the operating and trading statistics of company's peer groupTraining Methodology: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.

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

Day 13

Transaction Valuation Techniques:

6.Calculation of LTM Net Income, EBITDA and EBIT

determine a range of value.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 7.Computation of transaction multiples

Day 14

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

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)

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

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

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.

Basic and Semi Adv. Macro (VBA)

Day15

üUnderstanding Macro (VBA)üRecording a Basic Macro, assign short cut key,

adding comments to macroüWrite basic Macro to Understand VBE environmentüRunning a macro, Saving Macro file, debugging the macro,Understanding SecurityüUnderstand Input box, msgbox Commands,

create interactive macroüDo while…..Loop, Do Until…….Loop, For……Next, IF, Ifwith IFüUnderstand various events, protection of macros üUser Defined Functions, Error handing, break points, üPractice powerful macro examples