Training Course on Advanced Corporate Finance

Course Description

All business entities need finance to survive and thrive. It is needed right from the establishment of any business. The need for finance is forever prevalent in an organization. This need gives rise to corporate finance. What should be the optimal allocation of funds? What should be the mix between fixed and current assets? How should the profitability of different investment prospects be evaluated? How will the firm finance these investments?

Corporate finance deals with the management of finance functions in an organization. Any business needs to make three major finance decisions: investment decision, financing decision and dividend decision. These decisions are further divided into multiple segments. The assemblage of all these facets resides under the umbrella term of corporate finance.

What will be the ideal mix between debt and equity when it comes to acquiring these funds? What capital structure will suit best to a firm? How can a balanced trade-off between profitability and liquidity be achieved? To combat these challenges, it becomes imperative for corporate managers to be well adept in the area of corporate finance. A manager would need to foster sound techniques to fulfil various financial objectives of their organization which will ultimately lead to the fulfilment of the goal of shareholder’s wealth maximization.

This Phoenix Center for Policy, Research and Training course aims to address various elements of corporate finance to its participants. Finance is the backbone of any organization and this course will help simplify the intricacies of corporate finance. This course helps participants traverse through many issues of corporate finance by making them aware of different finance functions, capital budgeting techniques used to evaluate different investment avenues, practical problems they may face while raising funds, and deciding on the ideal mix in debt-equity ratio. It gives insights into various models, theories, and finance policies adopted by various companies. It also aims to sharpen different skills including quick decision making and calculating trade-offs by focusing on global practices adopted by firms around the world.

Course Objectives

Upon the successful completion of this Training Course on Advanced Corporate Finance, participants shall be able to:

• Understand the need for corporate finance in the present era
• Calculate trade-off between risk and return profitability and liquidity
• Recognize various alternatives present to raise finance and choose what’s best for their organization
• Identify various investment avenues available for the commitment of funds and how to evaluate them using different techniques
• Perceive various financial objectives and differentiate between profit maximization and wealth maximization
• Understand capital structure theory and its practical applicability
• Comprehend dividend relevance and issues in dividend policy
• Understand the principles of working capital management

Training Methodology

The course is designed to be highly interactive, challenging and stimulating. It will be an instructor led training and will be delivered using a blended learning approach comprising of presentations, discussions, guided sessions of practical exercise, problem-solving sessions, financial modelling, case study review, web-based tutorials, group work and exploration of relevant issues. Our facilitators are seasoned industry professionals with years of expertise in their chosen fields. Experiential knowledge is also given equal importance within the format of training. All facilitation and course materials will be offered in English.

Who Should Attend?

This Training Course on Advanced Corporate Finance would be suitable for, but not limited to budding entrepreneurs, start-up founders, financial and credit managers, Departmental heads, managers, financial analysts, Venture capitalists and Investors

Course Content

Module 1: Understanding the Basics of Corporate Finance

• Understanding corporate finance and finance functions
• Profit maximization vs. wealth maximization
• Concept of time value and return
• Capital market theory
• Portfolio theory: Capital asset pricing model
• Agency problem

Module 2: Capital Budgeting

• Need for investment decisions
• Investment evaluation criteria
• Non-discounted cash flow methods and techniques: Accounting rate of return, Payback period,
• Discounted cash flow methods and techniques: Internal Rate of Return (IRR), Net Present Value (NPV), Profitability index
• Estimating cost of capital: cost of debt, cost of preference capital, cost of equity capital

Module 3: Capital Structure and Financing Decision

• Relevance of capital structure: Net income approach
• Net operating income approach
• MM hypothesis
• Pecking Order theory
• EBIT-EPS analysis
• Financial and operating leverage

Module 4: Long – Term Financing

• Capital market
• Shares: equity shares, rights issues, preference shares
• Debentures
• Asset-based financing
• Venture capital

Module 5: Dividend Decision and Policy

• Dividend Relevance: Walter’s model and Gordon’s model
• Issues in dividend policy
• Lintner’s model of corporate dividend
• Forms of dividend
• Deciding retention ratio and pay-out ratio

Module 6: Working Capital Management

• Operating cycle and cash conversion cycle
• Fixed and fluctuating working capital
• Determinants of working capital
• Liquidity vs. profitability
• Estimating working capital needs
• Matching approach, conservative approach and aggressive approach

Module 7: Corporate Restructuring

• Introduction to corporate restructuring
• Mergers and acquisitions
• P/E and EPS analysis in mergers and acquisitions
• DCF approach
• Leveraged Buy-outs

Module 8: International Financial Management

• Foreign exchange market
• Foreign exchange risks and hedging
• Exchange rate quotations and arbitrage
• Forwards, swaps and interest parity

Requirements

• Participants should be reasonably proficient in English.
• Applicants must live up to Phoenix Center for Policy, Research and Training admission criteria.

NOTE

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free
2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.
3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.
4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.
5. Approval of Course: Our Programs are NITA Participating organizations can therefore claim reimbursement on fees paid in accordance with NITARules.

How to Book: Simply send an email to the Training Officer on training@phoenixtrainingcenter.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254737566961

Payment Options: We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above – Cheque Payments to: Phoenix Center for Policy, Research and Training Limited should be paid in advance, 5 days to the training.
2. Invoice: We can send a bill directly to you or your company.
3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.
2. Participants may cancel attendance 14 days or more prior to the training commencement date.
3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254720272325 / +254737566961 or Email training@phoenixtrainingcenter.com  

Accommodation: Accommodation is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@phoenixtrainingcenter.com or on Tel: +254720272325 / +254737566961