CFA LEVEL 1- Corporate Finance
Basic Info : Corporate Finance Level : CFA LEVEL I Commitment : 12 hour (6 sessions of 2 hours each) Language : English Schedule Date:
What Will I Learn
When you are done with this course, you will be able to:
- Understand the framework for analyzing corporate governance and stakeholder management.
- Attain knowledge about capital budgeting and the assessment of capital investments.
- Learn practical techniques to estimate a company’s or project’s cost of capital.
- Enhance your investment decision making techniques.
- Corporate Governance and ESG- An Introduction
- • Corporate Governance
- • Company’s stakeholder groups and their interests
- • Stakeholder management
- • Mechanisms to manage stakeholder relationships and mitigate associated risks
- Corporate Governance and ESG
- • Board of directors and its committee
- • Factors affecting stakeholder relationship and corporate governance
- • Benefits from effective corporate governance and stakeholder management
- • Factors relevant to the analysis of corporate governance and stakeholder management
- • Environmental and social considerations in investment analysis
- Capital Budgeting- I
- • Capital Budgeting process and categories of capital projects
- • Basic principles of Capital Budgeting
- • Evaluation and selection of capital projects and its effect on various factors
- • Calculate and interpret net present value (NPV), internal rate of return (IRR), payback period, discounted payback period, and profitability index (PI) of a single capital project
- • Compare the NPV and IRR methods when evaluating independent and mutually exclusive projects, and describe the problems associated with each of the evaluation methods
- • Relations among an investment's NPV, company value, and share price.
- Cost of Capital- I
- • Calculate and interpret the weighted average cost of capital (WACC) of a company
- • How taxes affect the cost of capital from different capital sources
- • The use of target capital structure in estimating WACC and how target capital structure weights may be determined
- • How the marginal cost of capital and the investment opportunity schedule are used to determine the optimal capital budget
- • The marginal cost of capital's role in determining the net present value of a project
- • Calculate and interpret the cost of debt capital using the yield-to-maturity approach and the debt-rating approach;
- • Calculate and interpret the cost of non-callable, nonconvertible preferred stock;
- • Calculate and interpret the cost of equity capital using the capital asset pricing model approach, the dividend discount model approach, and the bond-yield-plus risk-premium approach;
- • Calculate and interpret the beta and cost of capital for a project;
- • Uses of country risk premiums in estimating the cost of equity;
- • Describe the marginal cost of capital schedule, explain why it may be upward-sloping with respect to additional capital, and calculate and interpret its break-point
- • Treatment of flotation costs
- Measures of Leverage
- • Explain Leverage, Business Risk, sales risk, operating risk and financial risk
- • Calculate and interpret the degree of operating leverage, the degree of financial leverage and the degree of total leverage
- • Effect of financial leverage on a company’s net income and return on equity
- • Breakeven quantity of sales and determine the company’s net income at various sales levels
- • Operating breakeven quantity of sales
- Working Capital Management
- • Primary and secondary sources of liquidity and factors influencing a company’s liquidity position
- • Compare a company’s liquidity measure with its peer companies
- • Working capital effectiveness of a company based on its operating and cash conversion cycles
- • Comparable yields on various securities, compare portfolio returns against a standard benchmark
- • Evaluate a company’s short term investment policy guidelines
- • Choices of short term funding available to a company and recommend a financing method
Session-specific Assignments(* Condition Apply)
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