Afges

Programme:

Analysing the company's accounts

1. Study of a company’s flows and introduction to financial analysis
•Example of setting up a company.
•Presentation of financial documents.
•What criteria does a banker use to decide whether a company is well managed?
•What are the key points of good management?
•Where is profitability analyzed?
•What is solvency and how is it understood?
•How can we estimate a company’s long-term prospects?

2. Analysis of the profit and loss statement
•Intermediate management balances and interpreting their changes:
•Revealing the composition of a company’s profit and loss statement.
•Detailed analysis of margins:
•Composition of the cash flow, EBITDA, etc.
•Jobs/resources table:
•Construction and interpretation.
•Relationship with owner-manager withdrawals in the case of sole traders.
•The main significant ratios for analysis of the profit and loss statement:
•Turnover and profitability ratios.
•Calculation methods, usefulness and limitations.
•Covenants and waivers.

3. The balance sheet or the company’s structural appearance
•The commitment of partners or owner-managers.
•The financial structure.
•Financial needs of the operating cycle.
•Contrast between structure/operations.
•Case study : construction of a functional balance sheet.

4. Critical analysis of projections
•Analysis of a projected profit and loss statement.
•Study of projected funding.
•Elements for constructing a projected cash-flow plan.

5. Consolidation and international Standards
•Presentation of international standards and their impact on the financial analysis of Corporates.
•Context.
•Presentation of the main standards.
•Presentation of consolidation techniques Overall integration.
•Equity-method accounting.

6. Equity financing tools
•Capital increase.
•Quasi-equity.
•Issuing bonds.
•Leverage financing.