a. Refresher on the fundamental accounting principles

b. Trial Balance

c. Building the Income Statement from the Trial Balance

d. Building the Balance Sheet Statement from the Trial Balance

e. Building the Cash Flow Statement from the Trial Balance

f. Introduction to Financial Ratios

a. Template Building from Scratch

i. Creating the Required Sheets and Having an Index Sheet

ii. General Model Structure Design

iii. Working Across Multiple Sheets at Once

iv. Linking Sheets

v. Absolute and Relative References

vi. Template Building Tricks

b. Required Excel Tools and Formulas

a. Modelling Stage One: Projection Ratios and Scenarios (Optimistic, Base and Pessimistic)

i. Income Statement Drivers Projections – from schedules or moving average

ii. Balance Sheet Drivers Projections – from schedules or moving average

b. Modelling Stage Two: Financial Statements Forecasts

i. Income Statement Forecast

ii. Balance Sheet Forecast

iii. Cashflow Statement Forecast – extracting the Cashflow from Income Statement & Balance Sheet

iv. Extracting the Unlevered Free Cashflow

• a. Discounted Cash Flow (DCF) Model

• b. Comparative Company Analysis (comps) Model (and precedent transaction valuation multiples)

• c. Sum-of-the-parts Model

• d. Leveraged Buy Out (LBO) Model

• e. Merger and Acquisition (M&A) Model

• f. Book value Model

• g. Depreciated Replacement Cost (DRC)

• h. Dividend Discount Model

a. Enterprise Value = Discounted Cashflow of Explicit Forecast Period + Discounted Terminal Value

b. Calculation of WACC, CAPM and Cost of Debt

c. Practical Reality of the Nigerian Economic Space

d. Extracting The Equity Value from The Enterprise Value

e. Sensitivity Analysis: WACC vs Perpetuity growth

f. Practical Use of The Results

g. Company Valuation: Sell-side, Buy-side and Advisory

h. Business Unit or Subsidiary Valuation

i. Capital Project Valuation

a. Liquidity Ratios

b. Asset Management Ratios

c. Leverage Ratios

d. Profitability Ratios

e. Valuation Ratios

f. Financial Project Planning Excel formulas