Corporate Finance Master Class starts on 17 October. The program includes four modules of two sessions each. The training sessions are from 15:30 to 20:30 and will be held at The Business Institute, Sofia, 23 A Joliot Curie Str.
Sessions: 17 and 18 October 2018
In this module - including a complementing case study and online business simulation - participants act as members of the Capital Committee of New Heritage Doll Company, tasked with selecting and allocating capitals across the company's three divisions. Participants evaluate a diverse set of competing investment proposals and make decisions regarding 27 separate proposals over a five-year period.
Participants confront a range of project types including investments, expansion investments, investments in mutually exclusive projects, interdependent projects, and projects with growth options. To evaluate them, students examine outlays, cash flow patterns, and common metrics such as NPV, IRR, and Payback, with or without capital constraints.
This module is based on "The New Heritage Doll Company: Capital Budgeting" case study by Harvard Business School and Harvard Business Publishing's online simulation "Finance Simulation: Capital Budgeting".
Sessions: 24 and 25 October 2018
Business Valuation module distils the fundamentals of valuation and develops models that participants can understand easily and use quickly. In the learning process, the module will illustrate and practice the tools to not only value a company quickly but also to critically review valuations done by others.
In this module, we lay out the ingredients of an intrinsic valuation model: cash flows, discount rates and growth. In particulat, we note the importance of being consistent in the assumptions and note that higher growth can add value or even sometimes destroy value. The discussed valuation approaches are adapted for companies through their life cycle and illustrated how they might vary across sectors.
This module is based on the the teaching content from "Damodaran Online" - Aswath Damodaran, Stern School of Business at New York University.
Sessions: 31 October and 1 November 2018
This module teaches the participants how to construct an integrated financial model - from scratch! They will be able to build models that are robust, provide them with dynamic projections that can be used to thoroughly analyze a company from multiple standpoints: operations, investment, financing and valuation.
The module begins with an in-depth tour in Excel environment and includes many helpful shortcuts and tips for mastering the functions in Excel. Module topics are presented in a highly interactive format with narrated animations and self -correcting exercises designed to engage participants in the learning process. Microsoft Excel worksheets are included to assist participants as they work towards mastering the subject matter.
Sessions: 7 and 8 November 2018
In this module, based on a simulation, participants act as the CEO of a nutraceuticals distribution company and decide whether to invest in growth and cash-flow improvement opportunities in three phases over 10 simulated years. Each opportunity has a unique financial profile and participants must analyze effects on working capital.
The company operates on thin margins with a constrained cash position and limited available credit. Participants must optimize use of "internal" and external credits as they balance the desire for growth with the need for maintaining liquidity.
This module is based on the Harvard Business Publishing’s online simulation “Working Capital Simulation: Managing Growth”.