Training Programs for Investment Bankers
>> Analyst Training
Introduction to Financial Statements
Financial Statements and the purpose of the:
Balance Sheet = Statement of Financial Position
Income Statement = Statement of Operations
Statement of Cash Flows
Statement of Stockholders' Equity
Balance Sheet — Statement of Financial Position
Importance of: Working capital, operating assets and liabilities
Interest bearing liabilities versus non-interest bearing liabilities
Shareholders' Equity
Capital Structure.
Debt/Equity Accounting - Accounting for new issuance, conversions
Debt/Equity Position
Accounting for re-capitalization & re-organization
Basic balance sheet ratios
Liquidity ratios
Debt/Equity ratios
Income Statement
Operating revenues and expenses
Unusual items
Other income and expenses
EBIT & EBITDA — adjustments to be made for analysis
Income tax
Non-recurring items
Discontinued operations
Extraordinary items
Cumulative effects of accounting changes
Net income
Gross margin, operating margins, net margins
Trend analysis using margins
Tax Footnotes and required disclosure
Deferred Taxes — Timing Differences
Permanent Differences
Net Operating Losses
Deferred Tax Assets and Liabilities
In conjunction with discussing the items on the income statement, the following areas will be addressed — examples will be provided for participants to review on their own. The discussion will center on caveats and things to look for.
Management discussion, analysis and footnotes
Understanding Information in footnotes
Understanding the MD&A
Statement of Cash Flows
Review statement of cash flows
Operating
Investing
Financing
Review segments of balance sheet and income statement in relation to operating, investing and financing activities
Analyze and interpret cash flows
Cash Flows and Acquisitions
Earnings per share
Basic
Fully Diluted
Stock Options
Treasury Stock method
Convertible Securities
Comprehensive EPS example
Merger and Acquisition Accounting
Mark to Market
Purchase Accounting
Goodwill — new rules
Merger Accounting
Acquisition Expenses
Equity Method — for Joint ventures, proportional accounting
Minority Interest
Tax Accounting for Reorganizations — Mergers & Consolidations & Reorganizations
International Accounting Standards
Special Topics
Segment Reporting
Valuation
Weighted Average Cost Of Capital
Discounted Cash Flow Model
Comparable Company Analysis - Multiples
Bankruptcy/Fresh Start Accounting
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