 ## Learning Outcomes

• Unilever Case Study
• Constructing Financial Statements
• Ratio Analysis
• Understanding Relative Valuation Methods
• Grasping Absolute Valuation Methods
• Credit Analysis

## Discourse

In this course, you will be introduced to a case study, which will give you the opportunity to understand the way a company’s accounts are set up. By incorporating an exercise using a series of transactions to construct a financial statement, this is a fun and engaging introduction to financial statements. You will analyse ratios used to assess financial positions. We will discuss and examine intrinsic vs. market valuation as well as review, calculate and undertake a market examination of Enterprise Value (EV).

## Program Overview

###### Case Study: Unilever. Analysts are tasked with understanding their company accounts
• Introduction to Financial Mathematics
• Accounting 101
• Key Financial Ratios
• Company Valuation
• Financial Modelling
###### Financial Statements
• How Statements are Constructed
• Analysis of a Company’s Financial Statements to gain practical understanding of realities/complexities of a set of accounts
###### Ratio Analysis
• Discussion of common ratios used to asses financial position in terms of Short-Term Solvency, Debt Management, Asset Management, Profitability and Market Value
• Work with ratio analysis to evaluate a company and present findings
###### Valuation Overview
• Intrinsic Market valuation
• Discussion, calculation and market examination of Enterprise Value (EV)
###### Relative Valuation Methods
• The concept of relative valuation
• Discussion and illustration of:
• Select a peer group
• Select a multiple or multiples
• Calculate multiple(s)
• Apply the multiple
• Calculate Equity value (via Enterprise Value)
###### Absolute Valuation Methods
• The concept of absolute valuation
• Discussion and illustration of:
• Forecast Free Cash Flow to Firm (FCFF)
• Estimate Terminal Value (TV)
• Calculate WACC
• Discount FCFF and TV at WACC
• Move from Enterprise Value to Equity value