Program Content

 
Week 1 - Accounting 101
  • Overview of Investment Banking careers, industry, players and prospective employers.

  • Overview of Investment Banking interviews

  • Industry analysis – each student selects a sector in which to specialise.

  • Accounting 101 for Investment Banking

  • Income statement, Balance sheet, and Cash flow statement

  • Ratio analysis

  • Advanced financial statement analysis, including Inventory, Leasing, Pension, M&A accounting, and Investment accounting.

  • Creating a research log

  • Creating basic and advanced charts 

  • Navigating the annual and quarterly reports

  • Overview of analyst calls and transcripts

  • Excel shortcuts 101

 
Week 2 - Financial Modelling
  • Accounting exam

  • Introduction to Excel shortcuts for financial modelling

  • Setting up a financial model

  • Build historical Income statement, Balance sheet and Cash flow statement

  • Forecast Income statement line items up to EBIT

  • Spread detailed Working capital, PP&E and debt schedules

 
Week 3 - Financial Modelling
  • Setting up a detailed Shareholders Equity Schedule

  • Equity options and RSU's - Share-based compensation expense

  • Forecasting the rest of the Balance Sheet line items

  • Forecasting the Cash Flow Statement
  • Balancing the model using proprietary techniques
  • Dealing with circular reference

  • Auditing  a financial model

  • Advanced excel concepts

 
Week 5 - M&A Masterclass
  • Put together a detailed M&A pitchbook for a real life deal.

  • Replicate the role of an M&A analyst advising Mars Chocolate on the acquisition of Wrigley. 

  • Calculate M&A Goodwill using the PPA method on the acquisition of Time Warner by AOL.     

Week 6 - Equity Research Masterclass
  • Write a detailed equity research report on your company.

  • Build an advanced BMW financial model with a detailed Revenue breakdown sheet.

  • Value BMW using sum of the parts method. 

  • Use advanced techniques to compute valuations of fast growing internet stocks such as Amazon using the Siegel calculator and an extended DCF model.           

Week 7 - Private Equity Masterclass
  • Spend a week replicating the role of a Private Equity Analyst at Bain Capital/KKR's acquisition of Toys R US.

  • Build a detailed ten spreadsheet LBO model and make a presentation to the investment committee on the attractiveness of Toys R US as an LBO target.    

Week 8 - Venture Capital Masterclass
  • Put together term sheets and cap tables for follow on investment rounds in Webtracker.

  • Calculate start-up valuations for Nordic Technologies

  • Negotiate with fellow students on raising funds for Nordic Technologies and Webtracker

 
 
Week 4 - Valuations
  • Overview of Buy side and Sell side M&A

  • M&A modelling – Accretion/Dilution analysis

  • Overview of Private Equity 

  • LBO modelling

    • Step 1 - Set up the pre-transaction structure operating model​

    • Step 2 - Set up the capital structure

    • Step 3 - Build the post transaction operating model

    • Step 4 - Calculate IRR's

    • Step 5 - Optimise the model

  • DCF valuation

    • Time value of money

    • Spreading Free cash flow to Equity and Firm valuations schedule

    • WACC

    • Terminal value – Gordon growth and Multiple method

    • Calculating Fair Value

    • Sensitivity Analysis

    • Spreading data table for DCF valuation

  • Comparable valuations

    • PE ratios – pros and cons

    • PB ratios - pros and cons

    • PEG ratio - pros and cons

    • EV/EBITDA - pros and cons

    • EV/EBIT- pros and cons

    • EV/Revenue - pros and cons

    • EV/Sales- pros and cons

 

Admissions

Please fill in the form below and we will get back on programme fees and your eligibility for our courses.

We expect to receive thousands of applications in 2018. To enhance your application, please send your CV to:  info@cityinvestmenttraining.com

Contact: +44 (0) 203 402 3050

 

© City Investment Training 2020

  • YouTube - White Circle
  • Instagram - White Circle
  • White LinkedIn Icon