Financial Analysis Prodegree
Program Schedule
Weekend Batch - Saturday and Sunday (5-hour session)
Level 1 - 68 Hours
On Registration
Instructor-led training
Videos to watch before
(Either in classroom or
the next session (Will be
online live classes)
released one week prior)
IFAP landscape (2 Hours)
4 Financial analysis landscape
4 Top line vs. bottom line
4 Vehicles of growth
4 Strategic rationale for M&A
4 Valuation in M&A: How much will you pay?
4 What is M&A?
4 Types of M&A
4 Indian M&A market
4 Private equity in India
4 What does a private equity analyst do?
4 Why allocate assets to private equity?
4 Investment parameters of private equity
investors
4 Peculiarities of private equity investors
4 Benefits of private equity
4 The issue with private equity
www.imarticus.org
Financial Analysis Prodegree
Program Schedule
Instructor-led training
Videos to watch
Day 1
Financial analysis landscape (5 Hours)
4 Financial analysis landscape
4 Basics of corporate finance
4 Introduction to M&A
4 Introduction to private equity
4 Introduction to equity research
4 Current Indian scenario: Investment
banking, equity research, credit research
Principles of accounting (2 Hours)
4 The accounting process
4 Who uses accounts?
4 Accounting and bookkeeping
4 Financial terminologies
4 Accounting concepts
4 Qualities of accounting information
4 Questions asked by internal and external
users and conflict of interest
4 Managerial vs. financial accounting
Accounting vs. bookkeeping
4 The use of GAAP
4 Building blocks of accounting
Day 2
Principles of accounting (5 Hours)
4 The accounting process
4 Who uses accounts?
4 Accounting & bookkeeping
4 Financial terminologies
4 Accounting concepts
4 Basic accounting equation
4 Accounting principles and conventions
4 Hindalco: Walk‐through of financial
statements
Specific financial items and financial
statement preparation (1 Hour)
4 Financial statements - Balance sheet,
profit and loss and cash flow
4 Understanding revenues and expenses
4 Transaction analysis
4 The recording process
Day 3
Specific financial items and financial
statement preparation (5 Hours)
4 Financial Statements - Balance sheet,
profit and loss and cash flow
4 Understanding revenues and expenses
4 The accounting cycle
4 Understanding consolidated accounts
Ratio analysis (5 Hours)
4 DuPont analysis
4 Definitions of ratios
4 Liquidity ratios
4 Asset management ratios
4 Debt management ratios
4 Profitability ratios
www.imarticus.org
Financial Analysis Prodegree
Program Schedule
Instructor-led training
Videos to watch
4 Tangible assets
4 When to use which ratios
4 Goodwill
4 Case studies in ratio analysis
4 Depreciation
4 Investments
4 Deferred tax statements
Day 4
Ratio analysis (5 Hours)
4 DuPont analysis
4 Definitions of ratios
4 Liquidity ratios
4 Asset management ratios
4 Debt management ratios
4 Profitability ratios
4 When to use which ratios
4 Case studies in ratio analysis
Excel basics (3 Hours)
4 Spreadsheet vocabulary review
4 Explore the user interface
4 Work with the ribbon
4 Work with contextual tabs
4 Customize the excel interface
4 Creating spreadsheets
4 Cell formatting
4 Logical functions (If, Nested If,
And, Or, Not, IfError)
4 Date and time functions (Today, Now,
Year, EDate, EOMonth, Day & DatedIf)
4 Text functions (Text, Left, Right, Mid &
Concatenate)
4 Statistical functions (Count, CountA,
CountBlank, CountIf & SumIf)
Day 5
Excel basics (2 Hours)
4 Spreadsheet vocabulary review
4 Explore the user interface
4 Work with the ribbon
4 Work with contextual tabs
4 Customize the excel interface
4 Creating spreadsheets
4 Cell formatting
4 Logical functions
4 Date and time
4 Statistical functions
4 Frequently used shortcuts
Advanced Excel (3 Hours)
4 Custom list
4 Goal seek
4 Macros
4 Pivot tables
4 Scenarios
4 Consolidation
4 Data cleaning
4 Data manipulation
www.imarticus.org
Financial Analysis Prodegree
Program Schedule
Instructor-led training
Videos to watch
Day 5
Advanced excel (3 Hours)
4 Data validation
4 Templates
4 Custom list
4 Goal seek
4 Scenarios
4 Consolidation
4 Data cleaning
4 Data manipulation
4 Pivot tables
4 Macros
Day 6
Ratio analysis and consolidation (2 Hours)
4 Consolidation of financial statements
4 Case study on consolidation
4 Simple consolidation
4 Preparing consolidated statements
Forecasting and financial modeling
(3 Hours)
4 Basics of financial modeling
4 Comparison between financial model
4 Normal MS Excel calculations
4 Components of financial modeling
4 Financial modeling requirements
4 Types of data
4 Types of variables
4 Growth rates and proportions
4 BEDMAS principle
Forecasting and financial modeling
(3 Hours)
4 Objectives of forecasting
4 Understanding business models
4 Basics of financial modeling
4 How to create a basic IB financial model
Forecasting and financial modeling
(3 Hours)
4 Modeling income and expenses
4 Modeling non-operating expenses
4 Overview of FX, risk and hedging
4 Associates
4 Overview of extraordinary expense
4 Below the line adjustments
4 Modeling EPS and DPS
4 Overview of EPS
www.imarticus.org
Financial Analysis Prodegree
Program Schedule
Instructor-led training
Videos to watch
4 Basic vs. diluted EPS
4 Identifying dilutive EPS and modeling
4 Dividend decisions and modeling
4 Modeling working capital
4 Overview of working capital
4 Working capital ratios
4 Forecasting working capital
Day 7
Forecasting and financial modeling
(5 Hours)
4 Real life case study
4 Build an integrated financial model for
Colgate Palmolive Limited - A publicly
listed company
4 Convert the single step historical income
statement captured in the Excel file into a
multi-step income statement
4 Set up a separate assumption and
analysis sheet and capture the necessary
ratios
4 Assume growth rates and proportions for
forecast years taking cue from historical
ratios
4 Create model income statement,
balance sheet and cash flow
4 Ensure that the assets and liabilities
match
www.imarticus.org
Financial Analysis Prodegree
Program Schedule
Instructor-led training
Videos to watch
Day 8
Evaluation - 1 (5 Hours)
4 Semester 1 evaluation on accounts and
financial landscape - Objective and
subjective test paper
Day 9
Guest lecture and open house (4 Hours)
4 Guest lecture by EY leadership
4 Open house with faculty for doubt
clearing
Corporate strategy (2 Hours)
4 The BCG growth-share matrix
4 Mahindra & Mahindra case study
4 Product life cycle
4 Findings, strategies and suggestions
44 Hours - Instructor-led training
End of Level 1
www.imarticus.org
24 Hours - Videos to watch
Financial Analysis Prodegree
Program Schedule
Level 2 - 65 Hours
Instructor-led training
Videos to watch
Day 10
Corporate strategy (5 Hours)
4 Porter’s five forces
4 Structural determinants
4 SWOT analysis
4 PEST analysis
4 The product life cycle and the Boston
Matrix
4 Identifying key success factors and core
competencies
4 Case study: Smartphone application
4 Class exercise: What strategy has Flipkart
adopted?
Session 1 Valuation basics (3 Hours)
4 Basic approaches to valuation
4 Key valuation terms
4 Approaches to valuation
4 Relative valuation
4 DCF and Other intrinsic valuation
4 Trading comps and peer valuation
Day 11
Valuation basics (2 Hours)
4 Introduction to valuation
4 Different approaches to valuation
4 Arriving at cashflows and growth rates
for valuation
Session 2 Valuation basics (3 Hours)
4 Transaction comps
4 Steps in valuation using trading
comparables
4 Understanding the time value of money
4 Sensitivity analysis
4 What return should a firm expect?
4 Growth models
Valuation advanced (3 Hours)
4 Calculating terminal value
4 Treatment of specific financial items
4 Choosing tax rates
www.imarticus.org
Financial Analysis Prodegree
Program Schedule
Instructor-led training
Videos to watch
Day 12
Cost of capital (5 Hours)
4 Cost of new and existing debt
4 Cost of equity – CAPM model
4 The risk-free rate in practice
4 The market risk premium: Historical
premium approach
4 Types of risk and estimating beta
4 Cost of equity – Companies with country
risk exposure
4 Correlating the cost of capital to valuation
4 Calculation of WACC
4 Levered and unlevered beta
Equity valuation methods (3 Hours)
4 Equity valuation models: Strengths,
caveats and applications
4 Dividend discount models
4 FCFE models
Day 13
Equity valuation methods (2 Hours)
4 DDM (Single-stage, two-stage, threestage, “H” growth model)
4 FCFE (Single-stage, two-stage, three
stage)
4 FCFE valuation vs. DDM
Firm valuation models (2 Hours)
4 Which cash flow should I discount?
4 Which growth pattern should I use?
4 What discount rate should I use?
4 Case studies of companies valued: ABN
Amro, Nestle, DaimlerChrysler and
Amazon.com
Firm valuation models (3 Hours)
4 FCFF valuation (Single-stage, two-stage,
three stage)
4 APV valuation
4 Sector specific multiples
4 Relative valuation for a listed and
unlisted company
4 Comparison with intrinsic (Cash flow
based) valuation
Business communication (3 Hours)
4 Business communication
4 Body language primer
www.imarticus.org
Financial Analysis Prodegree
Program Schedule
Instructor-led training
Videos to watch
Day 14
Business communication (2 Hours)
4 Business communication
4 Email, chat and telephone etiquette
4 Listening and questioning skills
4 Interpersonal skills
Resume writing (3 Hours)
4 The why, the what and the how of
resumes
4 Personal branding
4 Tips and resources
4 Interview skills
4 Using social media
4 CV discussion
Aptitude (5 Hours)
4 Verbal aptitude:
Synonyms, antonyms, error spotting,
sentence arrangement, fill in the blanks,
replacing the phrase,
comprehension, etc.
4 Logical reasoning:
Assumptions, course of action, seating
arrangement, encoding & decoding,
analogy and blood relation questions.
Day 15
Aptitude (5 Hours)
4 Quantitative aptitude training
4 Trains, time and work
4 Profit and loss
4 Ages
4 Permutation and combination
4 Chain rule
4 Alligations
4 Time and distance
4 Simple interest
4 Partnership
4 Surds and indices
4 Pipes and cisterns
4 Logarithms and probability
4 Percentages and ratio and proportion
www.imarticus.org
Financial Analysis Prodegree
Program Schedule
Instructor-led training
Videos to watch
Day 16
Technical skills - PowerPoint (5 Hours)
4 Working with shapes
4 Keeping the audience/reader on track
4 Working with pictures
4 Avoiding “Death by Bullet” mini-series
4 Working with tables, charts - Choosing the
most appropriate chart and constructing it
4 Making the chart more communicative
4 Animation
4 Other best practices
4 Case studies and before vs. after examples
Day 17
Evaluation - 2 (5 Hours)
4 Semester 2 Evaluation on valuation
Day 18
Guest lecture and open house (4 Hours)
4 Guest lecture by EY leadership - topic:
challenges/caveats in valuation
Transaction execution (2 Hours)
4 Typical private equity fund raise process
4 The Science – Technical closure details
Open house with faculty for doubt clearing
44 Hours - Instructor-led training
End of Level 2
www.imarticus.org
21 Hours - Videos to watch
Financial Analysis Prodegree
Program Schedule
Level 3 - 47 Hours
Instructor-led training
Videos to watch
Day 19
Transaction execution (4 Hours)
4 M&A transaction process
4 How to make a pitch presentation
4 LBO and financing basics
4 Basics of documentation
4 Due diligence: What should you look out
for?
4 Planning post-acquisition integration
Introduction to equity research (5 Hours)
4 Overview of equity
4 Research business
4 Job of an equity research analyst
4 Types of research reports
4 Approach to analyze a business
4 Ecosystem of asset management
4 Buy side, sell side jobs - Incentives, work
profiles and requirements
4 Business model snapshot
Day 20
Introduction to equity research
(5 Hours)
4 Unravelling colgate
4 Primer on equity research
4 Techniques of relative valuation
4 Walkthrough a maintenance research
report
4 Tips on effective research writing
Day 21
One-on-One presentations (2 Hours)
4 One-on-one presentation of individual
assignment
www.imarticus.org
Financial Analysis Prodegree
Program Schedule
Instructor-led training
Videos to watch
Day 22
Guest lecture by EY + Business writing and
storyboarding (5 Hours)
4 Preparation
4 Establishing the purpose of collateral with
regard to the audience
4 Identifying the specific needs of the
audience
4 What is the scope of coverage?
4 Selecting and understanding the medium
of communication
4 Brief introduction to various mediums of
brochure, newsletters and email and their
uses
4 Persuasion and promotion writing
4 Research
4 Note taking
4 Brainstorming and the art of mind
mapping
4 In class mind mapping exercise
Day 23
Final project presentation (5 Hours)
4 Final project submission in front of your
peers while industry experts evaluate your
project work with constructive criticism
Day 24
Financial model presentation (5 Hours)
Interview preparation - HR (3 Hours)
4 Business etiquette
4 Interview preparation
4 Stage 1 - Preparation
4 Stage 2 - First impressions count
4 Stage 3 - The interview
4 Stage 4 - The final stage
4 How to ace the 50 most common
interview questions
www.imarticus.org
Financial Analysis Prodegree
Program Schedule
Instructor-led training
Videos to watch
Day 25
Interview preparation - HR (2 Hours)
4 Types of interviews
4 What to do before an interview
4 What to do after an interview
4 Follow-up etiquette
4 Body language - Dos and dont’s
Interview preparation - Domain (3 Hours)
4 Experts guide you on how to prepare for
the technical interview round with tips,
and a quick refresher on concepts learnt
Day 26
Mock interviews - HR and Domain with
internal faculty (4 Hours)
4 One-to-One or panel mock Interviews with
faculty to clear the HR and technical round
of Interviews to give you confidence
to face real world scenarios
Day 27
Mock Interviews - HR and domain facing
external industry experts (4 Hours)
4 1:1 or Panel mock interviews with industry
veterans to clear the HR and technical
round of interviews to give you
confidence to face real world scenarios
39 Hours - Instructor-led training
8 Hours - Videos to watch
End of Level 3
Total 127 Hours - Instructor-led training
Total 53 Hours - Videos to watch
www.imarticus.org