Wall Street Prep is the premier financial modeling training program (used at actual investment banks for analyst training) and they've agreed to give WSO members an exclusive deal to the self-study financial modeling training packages.
Normally we offer 15% off to WSO members, but recently we had them agree to give a full 20% off (= $100 savings for the popular Premium Package) for a limited time (24 more hrs) to the WSO members that go through our finanical modeling series...yes, that's you. :-)
Get 20% Discount and Become a Modeling Master
Since the financial modeling series from WSO is over, we're giving you another 24 hours to take advantage of this incredible deal (not listed anywhere else and most WSO members don't even know about it...wall st. prep only agreed to offer it to members that went through our free training).
If you get the popular premium package (includes both online video training), that is over $100 off the normal price. As a quick overview, here is some of what is included in this comprehensive package:
Step-by-step guides
* Financial Statement Modeling
* Discounted Cash Flow (DCF) Modeling
* Leveraged Buyout (LBO) Modeling
* Accretion / Dilution (M&A) Modeling
* Comparable Company & Transaction Modeling
CD ROM
* Excel Model Templates
* Supporting case study documents
* Laminated Excel Desktop Tipsheet
The amount of lessons and detail you get with this package is pretty incredible. You can really accelerate your learning and go at your own pace with this self-study course. It has both online video training and templates as well as physical books, so you can learn whatever way is best for you.
This Premium Package covers so much material, we thought we'd provide a more detailed course outline below so you can see the skills you would be developing under each main topic...or you can check it out and take advantage of this special discount right over at at Wall Street Prep by clicking here.
I hope you take advantage of this one-time deal!
Best of Luck,
Patrick Curtis
Chrief Monkey & Founder, WallStreetOasis.com
......................detailed course outline below....................................
Financial Statement Modeling
Introduction
- Learn to integrate assumptions and drivers into financial models
- Excel techniques and shortcuts for financial modeling
- Learn formatting and structural best practices
- Learn Implications of new FASB and IFRS regulations on financial models
Project the core financial statements
- Income statement, Balance sheet and Cash flow statement
- Supporting schedules: Working Capital, Deferred Taxes, PP&E / Depreciation, Intangible Assets, Retained Earnings and Debt & Interest
- Financial Ratios Output Sheet
Error-Proofing
- Learn best practices for check models for errors, accuracy and integrity
- Check and fix circular reference and iteration problems (#REF)
- Insert circularity toggles and learn other tools for formula auditing
- Customize Excel for effective modeling using macro shortcuts
- Balancing the model and inserting automated crosschecks
Presentation and Scenarios
- Perform sensitivity analysis using data tables
- Perform scenario analysis using data validation
- Integrating drop down menus and other “bells & whistles”
DCF Modeling Overview
Modeling free cash flows (FCF)
- Unlevered vs. levered FCF
- Capitalizing inappropriately classified expenses
- Handling stub periods and midyear adjustments
- Handling working capital items, deferred taxes and long-term accruals
- Integrating synergy assumptions into the DCF model
- Common pitfalls - enterprise vs. equity value, unlevered vs. levered FCF
Discounting the cash flows
- Deriving the cost of debt
- Derive the cost of equity using CAPM
- Delevering and relvering beta
- Estimating the weighted average cost of capital (WACC)
- Determining the optimal WACC
- Avoiding inconsistency between the FCF and discount rate
Estimating terminal value
- Perpetuity approach
- EBITDA multiple approach
- Common pitfalls
From enterprise value to equity value per share
- Calculating net debt and treatment of debt equivalents such as preferred stock, convertible securities, capital leases and minority interest
- Calculating options and convertible securities using both the standard and treasury stock methods
Sensitivity analysis
- Using data tables to analyze a broad range of scenarios given different assumptions
Get 20% Discount and Become a Modeling Master
LBO Modeling Overview
Build an integrated pro forma LBO projection model
- Using typical deal structures and current market metrics
- Build a dynamic Base/Best/Worst Case scenario toggles
Debt modeling
- Learn to integrate typical LBO debt structures, including
- Build a revolving credit facility and cash sweep
- Model LBO Equity Structures
secured, unsecured, mezzanine and PIK debt, convertible securities and equity sweeteners
Equity modeling
- Integrate typical equity structure, including management Incentives and rollover, Preferred Stock, contingencies and earn-outs
- Build a dynamic Sources and Uses of Funds Schedule
- Modeling Goodwill, and various transactional adjustments
- Build a returns analysis capturing all providers of capital using XNPV and XIRR functions
- Error-proofing and integrity-checking an LBO model.
- Build sensitivity tables required for correct analysis of an LBO, including the construction of multiples, and IRR tables using both data tables and various sorting functions in Excel, including VLOOKUPS, OFFSET, CHOOSE, and INDEX.
M&A Modeling Overview
Accretion/Dilution Modeling
- Introduction to M&A and typical buy side and sell side processes
- Learn to perform both a back-of-the-envelope and extensive accretion-dilution analysis
- Project consolidated financial statements, and learn to make correct adjusting entries for goodwill and fair market value write ups, advisory fees and financing fees and debt refinancing
- Learn proper treatment of deferred taxes created in M&A and convertible securities and options
Output Analysis
- Sales, EBITDA, and ownership contribution analysis
- Calculating pre-tax synergies to break-even
- Sensitivity analysis using data tables to determine
- Error-check a merger model
accretion/dilution to target shareholders in various stock/cash scenarios
Topics in M&A
- A review of common deal structures
- A review of changes in the accounting for business combinations
- Understand the asset vs. stock purchase decision
- Address situations in which amortization may be tax-deductible
- A discussion of 338(h)(10) election and wholly owned subsidiary acquisitions
Comps Modeling Overview
Selecting and Evaluation Appropriate Multiples
- Learn to select appropriate comparable companies by evaluating operational, financial, size, and other similarities
- Select comparable companies
- Input financial data
- Calculate and interpret financial and market ratios
- Common analytical challenges including calendarization, nonrecurring items, dilutive securities, and classification issues are addressed using industry best practices.
Presenting Trading and Transaction Comparable Analysis
- Structuring an output schedule
- Selecting key valuation multiples using the VLOOKUP function
- Building multiple tables
Get 20% Discount and Become a Modeling Master
Unlimited E-Mail Based Support
The Premium Package is a self study program but you are not on your own. Wall Street Prep’s Support Team is comprised entirely of experienced former investment bankers.
Upon enrollment, students gain 24 month free and unlimited access to Wall Street Prep's Online Support Center, where they receive answers to questions, free downloads, and important updates from the support staff.
Wall Street Prep Certification In Financial & Valuation Modeling
Wall Street Prep issues a Certification of Financial and Valuation Modeling upon successful completion of the Premium Package. To become certified, students must successfully complete an examination administered online by Wall Street Prep upon completion of the Premium Package.
- The examination consists of 53 multiple-choice questions and focus on topics covered throughout the Self Study Program.
- The examination is self-paced (no time limit). Allocate approximately 3 hours.
- The certification can be taken from any computer with an active internet connection.
Use of Certification as a Credential
Students may only use the Wall Street Prep Certification of Financial and Valuation Modeling upon successful completion of the Certification examination.
CFA Institute PD Credits
Wall Street Prep is registered with CFA Institute as an Approved Provider of professional development programs. This program is eligible for 35 PD credit hours as granted by CFA Institute.
Prerequisites
Accounting
The program assumes a basic introductory knowledge of accounting (e.g. interaction of balance sheet, cash flow, and income statement).
Students with no prior background in Accounting should enroll in the Accounting Refresher Supplement in addition to the Self Study Program (option available at check-out).
Although general exposure to corporate finance is helpful, it is not required.
Basic introductory Excel knowledge is highly recommended. Students with limited or no experience using Excel should enroll in the Excel Crash Course Supplement in addition to the Self Study Program (option available at check-out).
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