This course will show you how to:
· Analyse your financial performance, helping you work with your bank and your investors to drive your business forward
· Use financial statements as part of the company valuation process
· Ascertain what tough questions need to be asked and how to interpret the answers.
Course content
· Goodwill and amortisation and their effect on your company’s results
· Accounting policies; how management decisions on depreciation, stock and work in progress (wip) valuations can effect profits and net assets
· Company valuations: how useful is the balance sheet?
· Turnover – what should be included, what should not. How to compare your turnover and profit margins with your competitors
· Exceptional items and provisions– understanding profit smoothing
· Measuring free cash flow and the reduction of net debt
· Interpreting ratios: what do they mean for your business?
· What is an appropriate debt to equity ratio, interest cover and dividend cover for your industry?
· Pensions, share options and their impact on EPS, p/e ratio and market capitalisation
The course focuses on analysis and interpretation of published annual reports and accounts. We use many different sets of company accounts, analysts’ reports and articles from the financial press to ensure that you know how to apply each concept to real world situations.
Who will benefit?
· Managers, directors and non-executive directors
· New entrants to credit management, equity analysis, financial services, fund management and investor relations
