The Investment Banker

The Investment Banker includes

The Investment Banker

| Micro-Degree

The Accountant

| Skills Certificate

13

Hours

11

Topics

100

Practical exercises

1

Exam

Quickly and confidently interpret financial data and statements, evaluate them and use the calculated information to build high-quality reports. Real company data and the latest rules are covered to ensure the methods used and skills developed are immediately applicable in the workplace.

Accounting Foundations

72 video minutes

0 excel exercises

Video minutes 72

Excel Exercises 0

• The purpose and different types of accounting (financial versus management accounting)
• Users of financial statements
• Introduction to the three main financial statements and explanation of key elements
• Overview of the contents of financial reports
• Introduction to accounting standards
• The accounting equation
• Explanation of accrual accounting, the matching principle, and capitalization

Financial Accounting Review

34 video minutes

3 excel exercises

Video minutes 34

Excel Exercises 3

• Making entries and ensuring the balance sheet balances
• Preparing a balance sheet
• Preparing an income statement from the entries to retained earnings
• Preparing a cash flow statement from the entries to the cash account
• A review of the different categorizations on the income statement, balance sheet, and the cash flow statement

Income Statements

61 video minutes

15 excel exercises

Video minutes 61

Excel Exercises 15

• Revenue recognition issues
• Cost recognition issues
• Identifying non-recurring items from the income statement, the MD&A, the notes to the accounts and the financial statement press release
• Calculating EBIT and EBITDA for the historical year, and on an LTM basis

Earnings Per Share

27 video minutes

11 excel exercises

Video minutes 27

Excel Exercises 11

• Basic EPS calculations including weighted average shares
• Dilutive securities: options (treasury method) and convertibles (as if converted)
• Calculating recurring EPS

Working Capital

56 video minutes

12 excel exercises

Video minutes 56

Excel Exercises 12

• Inventory accounting including the impact on EBIT of LIFO and FIFO accounting choices (where relevant)
• Accounts receivable and bad debts (identifying when companies are manipulating sales)
• Accounts payable and accruals and the difference between them from a due diligence perspective
• Other items including taxes payable, deferred revenue, and pre-paid items
• Working capital and operating working capital and the cash impact of changes in operating working capital
• Credit implications of working capital movements
• Day ratios

Non-Current Assets

39 video minutes

11 excel exercises

Video minutes 39

Excel Exercises 11

• Gross PP&E, accumulated depreciation, depreciation expense and net PP&E
• Building a simple forecast of fixed assets
• Establishing the age of a company’s fixed asset base
• Finite, and infinite intangibles including goodwill
• A review of key methods of accounting for financial investments
• At fair value through the income statement
• Available for sale
• Associate (equity method) accounting

Capital Structure

50 video minutes

14 excel exercises

Video minutes 50

Excel Exercises 14

• Debt issues and repurchases
• Simple yield to maturity and all in cost calculations and understanding Original Issuer Discounts
• Calculating net debt
• Equity issuance and repurchases
• The difference between authorized, issued and outstanding shares and multiple share classes
• Other capital items: preference shares and convertible bonds
• Leverage ratios
• Debt liability maturity analysis

Accounting Ratios

41 video minutes

5 excel exercises

Video minutes 41

Excel Exercises 5

• Profitability ratios, including margins
• Liquidity ratios, including operating working capital
• EBIT and EBITDA for the historical year, and on an LTM basis
• Leverage ratios, including net debt and interest coverage
  Asset ratios

Cash Flow Statements

25 video minutes

3 excel exercises

Video minutes 25

Excel Exercises 3

• Understanding how to categorize cash flows between operating, investing, and financing
• Deriving a cash flow statement from two balance sheets and an income statement
• Deriving a balance sheet from a cash flow statement and an income statement
• Different cash flow statement presentations

Equity Method Investments

9 video minutes

5 excel exercises

Video minutes 9

Excel Exercises 5

• What are equity method investments?
  • Equity affiliates/associates
  • Joint ventures
• Equity method accounting
  • Income statement
  • Balance sheet
  • Cash flow statement
  • Financial statement integration

Intro to Full Consolidation

68 video minutes

21 excel exercises

Video minutes 68

Excel Exercises 21

• M&A accounting overview
• Balance sheet consolidation
• Sources and uses of funds
• Goodwill calculation
• Income statement consolidation
• Non controlling interests – NCI

The Modeler

| Skills Certificate

12

Hours

6

Topics

71

Practical exercises

1

Exam

Financial modeling is one of the most useful skills in the world of finance. Knowing how to build models quickly and error-free is critical for the decisions and recommendations that they underpin. Our online financial modeling course provides the perfect introduction to building models, developing multiple techniques for a comprehensive and practical understanding of the topic.

Introduction to Modeling

55 video minutes

13 excel exercises

Video minutes 55

Excel Exercises 13

• Key settings
• Formatting and layout standards
• Building a simple income statement and balance sheet model, on one sheet, then across sheets
• Balancing the balance sheet using the cash flow statement
• Preparing the model for handover
• Key formatting and putting the output into a pitch book

Three Statement Modeling with Iterations

77 video minutes

10 excel exercises

Video minutes 77

Excel Exercises 10

• Income statement construction and highlighting key numbers
• Calculation schedules (PP&E, retained earnings, operating working capital, and debt)
• Balancing the balance sheet with a cash sweep
• Calculating interest using average balances
• Circular references and iterations
• Working with a circular reference switch
• Preparing the model for handover
• Key formatting and putting the output into a pitch book

Three Statement Model Editing

44 video minutes

6 excel exercises

Video minutes 44

Excel Exercises 6

• Steps before editing
• Inserting a new item
• Removing an old item
• After editing
• Relevant keyboard shortcut keys

Three Statement Model With Estimates

70 video minutes

12 excel exercises

Video minutes 70

Excel Exercises 12

• Cleaning up the income statement and balance sheet and simplifying the line items
• Getting estimates for revenues and EBIT
• Building multiple scenarios into a model’s assumption
• Modeling a forecast debt repayment schedule from the notes
• Key ratios
• Checking the model for reasonableness
• Formatting and putting the output into a pitch book

Building a Model with Cash Sweep

71 video minutes

19 excel exercises

Video minutes 71

Excel Exercises 19

• Why banks want to be repaid early
• Cash sweep mechanisms
• How to model cash sweeps
• Building a three statement model with a cash sweep

Checking a Model for Integrity and Errors

36 video minutes

11 excel exercises

Video minutes 36

Excel Exercises 11

• Top ten errors
• Auditing and error checking toolkit
• Checking your own model
• Checking someone else’s model

The Valuer

| Skills Certificate

12

Hours

6

Topics

71

Practical exercises

1

Exam

Learn how and when to utilize key valuation methodologies and their supporting calculations.

Equity to Enterprise Value Bridge

33 video minutes

8 excel exercises

Video minutes 33

Excel Exercises 8

• Calculating equity value
• Calculating enterprise value
• Non-core items, debt equivalent items, and non-controlling interests
• Calculating simple multiples
• Illustrating the impact of leverage
• Understand how growth rates, returns and multiples interrelate

Trading Comparables

69 video minutes

17 excel exercises

Video minutes 69

Excel Exercises 17

• Review choosing a comparable set of companies
• Calculating enterprise value
• Calculating LTM EBITDA and EBIT
• Forward multiples and issues with consensus data
• Understanding which operational ratios are important for the analysis

Transaction Comparables

30 video minutes

11 excel exercises

Video minutes 30

Excel Exercises 11

• Reviewing data sources
• Understanding different deal contexts
• Calculating enterprise value and LTM EBITDA
• Calculating premiums paid based on offer prices where appropriate
• Calculating the synergies from the transactions as a % of target sales

WACC Analysis

27 video minutes

8 excel exercises

Video minutes 27

Excel Exercises 8

• Capital Asset Pricing Model
• Calculating the WACC for the peer group
• Interpreting the results
• Establish a reasonable cost of capital for the target company
• WACC approach

Discounted Cash Flow Valuation

50 video minutes

14 excel exercises

Video minutes 50

Excel Exercises 14

• Calculating free cash flows
• Understanding how the operational ratios should develop over the financial forecast
• Calculating the steady state and making relevant adjustments to the steady state cash flows
• Making reasonable assumptions for long-term growth rates
• Discounting to a deal date
• Converting the enterprise value into an implied share price, making relevant adjustments for share options and restricted stock units

Pulling the Analysis Together

43 video minutes

13 excel exercises

Video minutes 43

Excel Exercises 13

• Reviewing different valuation methods
• Preparing valuation ranges for each valuation method
• Summarizing the valuation ranges and interpreting the results

The Deal Maker

| Skills Certificate

8.5

Hours

5

Topics

54

Practical exercises

1

Exam

When should a company acquire another? Is the merger beneficial for the stakeholders? These are just a few of the core M&A questions that The Deal Maker will answer. Not only are mergers and acquisitions calculated and evaluated, the funding sources are examined in detail; such as private equity acquisitions including credit facilities, term loans and more.

Merger Analysis Cash Deal

75 video minutes

18 excel exercises

Video minutes 75

Excel Exercises 18

• Nature of an acquisition
• Valuation in an M&A context
• Financing a transaction
• Sources and uses of funds
• Transaction fees
• Consolidation
• Offer terms – equity financing
• Deal analysis

Merger Model

22 video minutes

9 excel exercises

Video minutes 22

Excel Exercises 9

• Equity to enterprise value bridge
• Sources and uses of funds
• Share issuance and dilution
• Relative PEs
• EPS accretion dilution
• Debt rating
• Synergies vs. premiums paid
• Return on invested capital

Synergy Analysis

22 video minutes

3 excel exercises

Video minutes 22

Excel Exercises 3

• What are synergies?
• Using the transaction multiples grid to estimate synergies per annum
• Valuing synergies using DCF
• Valuing synergies using multiple

Earnouts

15 video minutes

1 excel exercises

Video minutes 15

Excel Exercises 1

• Contingent consideration – structures
• Accounting for deferred consideration
• Examples of earnouts

Leveraged Buyouts

75 video minutes

18 excel exercises

Video minutes 75

Excel Exercises 18

• LBO – definition
• Internal Rate of Return (IRR) and Value Analysis
• LBO analysis models
  • LBO analysis model map
  • Assumptions
  • Sources of funds
  • Operating forecasts and cash sweeps
  • Model outputs
  • Levered valuation

Acquisition Finance Debt Capacity

32 video minutes

5 excel exercises

Video minutes 32

Excel Exercises 5

• Multiple based debt capacity analysis
• Dangers of using multiples
• Cash flow based debt capacity analysis
• Calculating free cash flows
• Debt tranching
• Seniority and subordination

Investment Banking Case Study

| Skills Certificate

10

Hours

64

Practical exercises

Case studies are crucial to in-house programs, helping learners understand key financial concepts and skills in context. Now, we’ve added an Investment Banking Case Study Skills Certificate, so that on-demand learners can work through crucial topics, including: Accounting, Modeling, DCF Valuation, Trading Comparables, Transaction Comparables, Synergy Valuation, LBO Valuation, Football Fields and M&A.

Accounting Case Study

45 video minutes

6 excel exercises

Video minutes 45

Excel Exercises 6

Modeling Case Study

41 video minutes

9 excel exercises

Video minutes 41

Excel Exercises 9

DCF Valuation Case Study

35 video minutes

7 excel exercises

Video minutes 35

Excel Exercises 7

Trading Comparables Case Study

73 video minutes

9 excel exercises

Video minutes 73

Excel Exercises 9

Transaction Comparables Case Study

15 video minutes

2 excel exercises

Video minutes 15

Excel Exercises 2

Synergy Analysis Case Study

8 video minutes

2 excel exercises

Video minutes 8

Excel Exercises 2

LBO Valuation Case Study

40 video minutes

12 excel exercises

Video minutes 40

Excel Exercises 12

Football Field Case Study

21 video minutes

6 excel exercises

Video minutes 21

Excel Exercises 6

M&A Case Study

45 video minutes

11 excel exercises

Video minutes 45

Excel Exercises 11

Investment Banking Interview Skills

| Skills Certificate

36

Minutes

1

Practical exercises

Learn what to expect in the interview process, how to tackle tough questions and more. Plus, this course features example videos of successful answers.

Investment Banking Interview Skills

36 video minutes

1 excel exercises

Video minutes 36

Excel Exercises 1

• Introduction
• What does an Investment Banker do
• The role of an Investment Banker
• Preparing for the Recruitment Process
• The Recruitment Process
• Preparing for the interview
• How to make a great first impression
• Interview Questions – Your Story
• Interview Questions – Your Fit
• How to answer ‘Your Fit’ questions
• Interview Questions – Your Knowledge
• Interview Questions – Brainteaser
• Interview Questions – Technical Questions
• Interview Questions – More Technical Questions
• How to follow up after an interview

Investment Banking Superday Interviews

| Completion Certificate

1

Hour

By the end of this course, you will have a solid foundation to confidently face your investment banking Superday, equipped with the knowledge and skills to impress your interviewers and secure your desired role.

Superday Mock Interview with Billy

15 video minutes

0 excel exercises

Video minutes 15

Excel Exercises 0

• Behavioral questions
• Technical questions
• Problem-solving questions

Superday Mock Interview with Knoton

16 video minutes

0 excel exercises

Video minutes 16

Excel Exercises 0

• Behavioral questions
• Technical questions
• Problem-solving questions

Superday Mock Interview with Daniele

16 video minutes

0 excel exercises

Video minutes 16

Excel Exercises 0

• Behavioral questions
• Technical questions
• Problem-solving questions

Breaking into Banking Interview: Your Top Questions Answered

| Completion Certificate

1

hour

Are you looking to land a full-time position at a top investment bank? Wondering how to set yourself up for success? Watch our Q&A session with Anish K. Mitra, ex-Head of IBD Learning & Development (Americas) at Goldman Sachs, who answers the top 8 questions every aspiring analyst has.

Breaking into Banking Interview

30 video minutes

0 excel exercises

Video minutes 30

Excel Exercises 0

• What is the secret sauce for high-performing analysts?
• What top three qualities do recruiters look for?
• What advice do you have for interview preparation?
• What top tips do you have for upcoming interns?
• What are the bests ways to stand out on virtual internships?
• Given the choice, how would you choose between teams?
• What were the highs and lows of being an analyst?
• What would you say people who don’t get offers typically do wrong?

M&A Banking Expert Interview

18 video minutes

0 excel exercises

Video minutes 18

Excel Exercises 0

• Key skills
• Biggest challenges in deals
• Industry insights
• Cross Border vs Domestic Deals
• Top tips for a successful career in M&A Banking

Financial Data Tools

| Completion Certificate

2

Hours

Discover how to use the three Financial Data Tools investment bankers use everyday including, BamSEC, FactSet, and Felix to improve your problem-solving abilities and efficiency.

BamSEC Series

9 video minutes

0 excel exercises

Video minutes 9

Excel Exercises 0

• Guide to using BamSEC
• Document Search
• Tables
• Links to Text and Highlights
• Watched Companies

FactSet Workstation

35 video minutes

0 excel exercises

Video minutes 35

Excel Exercises 0

• Using the search bar
• Comps report and adjusting the report
•  Modifying user settings
•  Saving and exporting reports
•  Running a search
•  Idea screening
•  Filings wizard
•  Bookbuilder tool

FactSet Charting

18 video minutes

0 excel exercises

Video minutes 18

Excel Exercises 0

•  Interactive charting overview
• Creating charts and yield curves
• Formatting charts
• Downloading charts to Excel
• Create a portfolio of companies
• Create a chart and index composite from a portfolio

Factset - Finding and Extracting Data

43 video minutes

0 excel exercises

Video minutes 43

Excel Exercises 0

• How to find company information, filings and news
• How to find and extract actual and forecast income statement and balance sheet data
• How to find and extract equity and credit market pricing information
• Using FactSet formulas in Excel
• Using the Factset screening tool