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.
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
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
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.
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 : 6th of September 2024,
Course Fee:
- Course worth of USD 2500 is offered to CFA Charterholders in Sri Lanka and Candidate Council members at a special fee of Rs 12,500.
- Others / Non-members – Rs. 40,000
Registrations will be on a first come first served basis and limited.
Register on or before – 2nd of September, 2024
HOW TO JOIN
CFASSL Members/ Candidate Council Members:
Step 1: CLICK HERE to make the payment
Step 2: CLICK HERE to register for the program and receive log in information upon approval. Please note that participant details filled in during payment need to match exactly with Zoom registration details (Meeting link will be sent to the email address which has been used to register in Zoom)
Others:
Step 1: CLICK HERE to make the payment
Step 2: CLICK HERE to register for the program and receive log in information upon approval.
Please note that participant details filled in during payment need to match exactly with Zoom registration details. (Meeting link will be sent to the email address which has been used to register in Zoom)
If an invoice is required, follow the process below:
Step 01: Request an invoice for the number of participants via minura@srilanka.cfasociety.org
Step 02:
- CLICK HERE to register participants on Zoom individually.
- CLICK HERE to fill in the details of participants.
Please note that participant details filled in above need to match exactly with Zoom registration details. (Meeting link will be sent to the email address which has been mentioned in the registration)
Step 03: Make payment to the following bank account:
- Bank : HNB
- Account Title : CFA SOCIETY SRI LANKA
- Account No : 701010013256
- Swift Code : HBLILKLX
- Bank Code : 7083
- Branch Code : 701 ( Nawam Mawatha )
Inquiries: Minura Senadeera at 0742661283 | minura@srilanka.cfasociety.org
Please email your payment confirmation to minura@srilanka.cfasociety.org
PLEASE NOTE:
Access will be granted only after completion of the above.
| Course Schedule 2024 | |||||||
| Date | Time | Session | Trainer | Course Objective | Course Content | ||
| 1 | Friday, September 06, 2024 | 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 | |
| 2 | Friday, September 13, 2024 | 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 | ||||||
| 3 | Friday, September 20, 2024 | 9.00am - 11.00am | Modeling best practices | Rihab Faisal Assistant 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 | |||||
| 4 | Friday, September 27, 2024 | 9.00am - 11.00am | Cost drivers | Rihab Faisal Assistant 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 | |||||
| 5 | Friday, October 04, 2024 | 9.00am - 11.00am | Forecasting other line items in IS & BS | Sasitha Edirisinghe Delivery Manager, 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 | |||||
| 6 | Friday, October 11, 2024 | 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 | |
| 7 | Friday, October 18, 2024 | 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 | |
| 8 | Friday, October 25, 2024 | 9.00am - 11.00am | Investment note writing | Rihab Faisal Assistant Director, Acuity Knowledge Partners | This training includes best practices of writing investment notes | - Pyramid concept - Logic & Structure - Writing a defensible valuation argument | |
Please Click Here to download the Course Shedule and content Excel Sheet.
Course Cancellations & Refunds
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- 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.