Virtual Course on
Equity Analyst Training
Course Overview
By the end of the course, participants will have a thorough understanding of the entire equity valuation process. They will gain specific knowledge in industry analysis, financial model building, equity valuation methodologies, and investment note writing. Additionally, they will be equipped to form a defensible investment thesis by applying the fundamental concepts learned, which have been carefully structured to ensure a systematic understanding of equity valuation.
Course Outline
- Why industry analysis
- Framework of industry analysis
- Steps to follow in conducting an industry analysis using five forces framework – SWOT analysis
- Different filings
- Contents and main differences
- What is financial modeling
- Common errors in modeling
- Best practices to follow in modeling & top-down approach
- Basic EPS & Diluted EPS
- Main KPI’s for different industries
- Revenue drivers of different industries
- Forecasts of line items below EBITDA
- Forecasts of BS line items
- Acuity method of balancing the forecasted model
- What is RV
- Different multiples, its advantages and limitations
- Peer comp sheet
- Target multiple
- Basic concept of DCF
- Key assumptions
- Building a simple DCF model
- Common errors
- Pyramid concept
- Logic & Structure
- How to write a defensible valuation argument
Prerequisites : Basic Financial Accounting knowledge is required to follow this course.
Course Schedule
| Date | Time | Session | Trainer | Course Objective� | Course Content |
| 22 August 2025 | 9.00am - 11.00am | Industry analysis | Pranavan Premarajah Associate Director, Acuity Knowledge Partners |
Objective of this module is to describe how to find industries that generate sustainable shareholder returns using Porters five forces analysis | - Why industry analysis? - Framework of industry analysis - Steps to follow in conducting an industry analysis using five forces framework |
| 29 August 2025 | 9.00am - 11.00am | Guide to SEC filing | Vidula
Saundararajan Delivery Lead, Acuity Knowledge Partners |
Objective of the module is to familiarize the analysts with different legal filings and objectives behind it | - Different filings - Content and main differences |
| GAAP to Non GAAP | Importance of recurrent earnings | ||||
| Restatement of IS | Identifying the recurrent earnings and the importance of EBITDA | ||||
| 12 September 2025 | 9.00am - 11.00am | Modeling best practices | Rihab Faisal Associate Director, Acuity Knowledge Partners |
Objective is on how to present the data and the best practices to follow in order to present an error free model | - What is financial modeling? - Common errors in modeling - Best practices to follow in modeling & top down approach |
| Revenue drivers | The course on revenue drivers helps to understand the various structures of revenues of companies which is being reported in filings, investor presentations or call transcripts. Analysts will identify price and volume proxies to perform revenue forecast | - Main KPI's for different industries - Revenue drivers of different industries |
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| 19 September 2025 | 9.00am - 11.00am | Cost drivers | Rihab Faisal Associate Director, Acuity Knowledge Partners |
The course covers why cost drivers is important for investors, steps in identifying cost drivers, various structures of operating cost that is being reported in SEC filings, investor presentation or call transcripts | - Main ways of forecasting costs - Forecasting costs on segment basis |
| Forecasting revenue & cost | This course covers the approaches to be adopted by the analyst to forecasting revenue and operating cost | - Approaches to forecasting revenue - Approaches to forecasting cost |
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| 26 September 2025 | 9.00am - 11.00am | Forecasting other line items in IS & BS | Rihab Faisal Associate Director, Acuity Knowledge Partners |
The course covers how we forecast other line items after EBITDA to net income along with some line items in balance sheet. This course covers approach to forecast line items from EBITDA to Retained Earnings post dividends. | - Forecasts of line items below EBITDA - Forecasts of BS line items |
| Balancing the model | The course orients linking of 3 financial statements. It covers step by step approach to balance the model and ensure Assets = Equity + Liabilities at any given point of time | - Acuity method of model balancing | |||
| 03 October 2025 | 9.00am - 11.00am | Relative Valuation | Samanmalie Herath Assistant Director, Acuity Knowledge Partners |
This module will cover the different multiples that are used for the valuation and the concepts of Enterprise value and its components. At the end of the session analyst should be able to use the ideal multiple for the company considering its position within the industry | - What is RV? - Different multiples, its advantages and limitations - Peer comp sheet - Target multiple |
| 10 October 2025 | 9.00am - 11.00am | DCF Valuation | Pranavan Premarajah Associate Director, Acuity Knowledge Partners |
The session covers insights about the concept of WACC, calculation of Free Cash Flows, and common errors while doing DCF | - Basic concept of DCF - Key assumptions - Building a simple DCF model - Common errors |
| 17 October 2025 | 9.00am - 11.00am | Investment note writing | Sanduni Rajapaksha Delivery Lead, Acuity Knowledge Partners |
This training includes best practices of writing investment notes | - Pyramid concept - Logic & Structure - Writing a defensible valuation argument |
Key Benefits to
Individuals
- Gain comprehensive knowledge in equity valuation, financial modeling, and industry analysis, enabling more informed investment decisions.
- Enhance career prospects and increase potential for promotions by acquiring advanced financial analysis skills
Key Benefits to the Organization
- Improve strategic decision-making by empowering employees to conduct thorough and accurate financial analyses.
- Develop robust investment strategies based on sound valuation methodologies, leading to better financial performance.
Target Audience
- Financial Analysts
- Investment Banking Analysts
- Portfolio Managers
- Corporate Finance Professionals
- Business Development Managers
- Consultants
- Experienced Finance Professionals
- Private Equity and Venture Capital Analysts
- Individual Investors
Facilitators
Acuity Knowledge Partners
Acuity Knowledge Partners
Acuity Knowledge Partners
Acuity Knowledge Partners
Acuity Knowledge Partners
Duration and Time:
- 16 Hours of virtual training via Zoom on Fridays (8 weeks), From 9:00 am to 11:00 am
Commencement From: 22nd of August 2025.
Register before – 15th of August 2025
Registrations are on a first-come-first-served basis and limited
Participant fee
- Course worth of 2500 USD is offered to CFA Charter holders in Sri Lanka and Candidate council members at a special fee of Rs 15,000.
- Others / Non-members – Rs. 40,000
To Join:
If an invoice is not required, follow the process below
Step 1 : Register Here
Step 2:
Make the payment to the following bank account (Direct Deposit / Fund Transfer) :
- Bank : HNB
- Account Title : CFA SOCIETY SRI LANKA
- Account No : 701010017612
- Swift Code : HBLILKLX
- Bank Code : 7083
- Branch Code : 701 ( Nawam Mawatha )
Step 3:
After making the payment, please email your payment receipt or confirmation to – minura@srilanka.cfasociety.org with your name and the company name (Please note that these details mentioned in the email need to match exactly with registration details.)
- CFA Charterholders and Candidate Council Members : Rs. 12,000
- Non-Members : Rs. 18,000
If an invoice is required, follow the process below
Step 1 : Register Here
(If there are more than 1 participant to register, please register them one by one)
Step 2:
Request an invoice by mentioning details of the participant / participants via minura@srilanka.cfasociety.org (Please note that these details mentioned in the email need to match with registered details.)
Step 3:
Following the invoice shared, Make the payment to the following bank account (Direct Deposit / Fund Transfer):
- Bank : HNB
- Account Title : CFA SOCIETY SRI LANKA
- Account No : 701010017612
- Swift Code : HBLILKLX
- Bank Code : 7083
- Branch Code : 701 ( Nawam Mawatha )
Step 4:
After making the payment, please email your payment receipt or confirmation to – minura@srilanka.cfasociety.org
Missed the program? Click on the button below to download a softcopy of the presentation slides,
Minura Senadeera at 0742661283 | minura@srilanka.cfasociety.org
Course Cancellations & Refunds
- If you cancel the course after registration, an admin fee of 25% of the course price applies (which will not be refunded), and the and the remaining deposit will be refunded. You need to request the course cancellation five working days before the course start date.
- You are not eligible for any refund if you make a request for course cancellation less than 5 working days before the course start date. However, you may nominate another participant in place of you before the course starts.
- CFA Society Sri Lanka reserves the right to cancel a course if the number of delegates has not reached the minimum required to run the course effectively. CFA Society Sri Lanka also reserves the right to cancel in the event of an unforeseen circumstance. In the event of a full cancellation, CFA Society Sri Lanka will either arrange for an alternative course date or offer a full refund of the fee paid.