Corporate finance for Executives 

1. Financial and non-financial objectives and their measurement. The structure and tasks of the finance department in the process of value creation.

2. Perspective of banks in the financial analysis of the company. Perspective of owners in the financial analysis of the company.

3. Structure and interdependence between financial statements.

Balance sheet

  • What does the company's balance sheet consist of and what are the rules for creating it?
  • What is the difference between assets and liabilities?
  • What do the particular items of the balance sheet say about?

Profit and Loss Statement

  • How is the profit and loss statement constructed and what are the rules for creating it?
  • How does the margin at individual levels interpret?
  • Costs by type or costs by functions - analysis
  • The key elements of P&L analysis.

Cash Flow Statement

  • What is the essence of the cash flow statement and what are the rules for its creation?
  • What is the different between revenue and inflow of cash?
  • What is the different between cost and outflow of cash?
  • Why despite the increase in revenues and profits, may enterprises lack of money?

4. Preliminary analysis of the financial statements as a source of questions and identification of the main problems of the company.

5. Key ratios of financial analysis: liquidity, operating performance, debt and profitability analyses.

6. The use of the concept of short-term profit and loss account with margins caps and break-even points in the assessment of markets and distribution channels profitability.

6.1. How much do you need to sell if you want the investment in the new product to be profitable?

6.2. Whether and when to take order from the contractor?

6.3. When should you take advantage of outsourcing? Analysis of decision.

7. Full cost accounting and variable cost account – differences, application, consequences for the decision-making process.

8. Principles for investment projects assessment.

  • Break-even concept
  • The value of money over time
  • Estimation of cash flows (FEFE and FCFF) for project appraisal
  • Incremental cash flows calculations for the purpose of investment appraisal
  • Calculation of the cost of capital:

    • calculation of the cost of equity
    • calculation of the cost of debt
    • weighted average cost of capital (WACC)

  • Methods used for project appraisal:

    • Payback period (PP)
    • Net present value (NPV)
    • Internal rate of return (IRR)

9. NPV or IRR? How to select right project when different indications have been given?

10. Evaluation of innovative and development projects.

11. Evaluation of the strategy based on value maximising criterion. Case study – measuring the change of company’s value resulting from the strategy change.

12. Identification of the areas of adding and destroying the owners value using ROIC trees – case study.

Total: 16 contact hours

Kontakt 

  
Grażyna Rozparzyńska-Noga
Menedżer ds. programów edukacyjnych i jakości


Koordynator merytoryczny : 

Kontakt: 
Prof. ALK, dr hab.
Paweł Mielcarz