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Accounting & Financial Modeling
Liberal Arts Boot Camp Overview
2-day intensive training program where liberal arts students learn
financial accounting, financial modeling in Excel, and technical interview
prep using in a hands-on, case-study approach.
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Step-by-step, intuitive approach
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Each financial topic is preceded by conceptual introductions that relate
academic coursework to the hands-on step-by-step exercises trainees
undertake on their computers in class. The program is a synthesis of Excel
modeling, navigating through various financial reports, and the
application of accounting and corporate finance.
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Experienced instructors
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Our instructors are all practitioners with years of directly relevant realworld experience and have a passion for teaching. They understand the
importance of teaching in a way that empowers students to apply the
lessons from the classroom directly on the job.
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Complete finance training
Every seminar is preceded by our online Crash Course in Excel
to ramp students up to a common Excel knowledge base. Students also
have post-seminar access to our Support Staff whom they
can e-mail with any content-related questions.
Matt Blair
mblair@wallstreetprep.com
617-314-7685, ext. 722
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Excel 2013/2010 Crash Course
 Introduction
 Getting Started
 The Excel Ribbon
 Excel Settings
 Basic Excel Shortcuts, Navigation & Editing
 Formatting in Excel
 Excel Navigation
 Splitting & Freezing Panes
 Entering & Editing Data
 Columns & Rows
 Paste Special
 Ctrl Shortcuts
 Naming Cells
 Anchoring Cells
 Naming Worksheets
 Grouping & Hiding Columns & Rows
 Grouping Workbooks
 Formula Auditing
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 Introduction to Functions: SUM & Average
 #Ref, #Div/0! & Other Excel Errors
 Simple & Nested IF Statements
 IFERROR & Concatenation
 Date Functions: EOMONTH & EDATE
 ISNUMBER, ISTEXT & Combining with IF to Create Overrides
 More Date Functions: YEARFRAC, DAY, MONTH, YEAR & DATE
 AND & OR Functions
 HLOOKUP, VLOOKUP, CHOOSE, OFFSET & INDEX Functions
 Common Errors with HLOOKUP, VLOOKUP, CHOOSE, OFFSET & INDEX
 The MATCH Function
 Combining H/VLOOKUP, OFFSET, INDEX, CHOOSE with MATCH
 Creating Drop Down Menus with Data Validation
 Data Tables
 Cell Alignment & Center Across Selection
 The SUMPRODUCT Function
 Advanced SUMPRODUCT: Adding Criteria & Booleans in Excel
 SUMIF/S & AVERAGEIF/S
 CEILING, FLOOR & ABS Functions
 ROUND, ROUNDUP, ROUNDDOWN & COMBIN Function
 The MIN & MAX Functions
 COUNT/A & COUNTIF/S Functions
 Present Value & Future Value Functions
 NPV & XNPV Functions
 IRR & XIRR Functions
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 Text Functions (LEN, LEFT, RIGHT, MID, REPLACE, etc.)
 Using Text Functions to Solve Data Extraction Challenges
 Flash Fill (Excel 2013 Only)
 Combining INDIRECT with &
 Sort & Subtotal
 Autofilter
 Pivot Tables, Part 1
 Pivot Tables, Part 2
 VBA & Macros in Excel
 Creating Dynamic Headers, Custom Formatting & the TEXT Function
 Conclusion
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W ALL STREET PREP 2014 FINANCIAL TRAINING CATALOG
Accounting and FSA
Financial modeling requires a basic understanding of accounting and financial
statement interaction. Accordingly, this course is for individuals who lack
knowledge in those areas.
Online Course: 10 hours
Live Seminar: 1-5 days
AGENDA
Introduction to financial accounting
 The ABC’s of accounting – its purpose, uses, and users
 Accounting regulations and principles
 U.S. versus international accounting standards
 Financial reporting – introduction to corporate filings
Income statement
 Analysis of revenues – revenue recognition & accrual concept of accounting
 Analysis of expenses & the matching principle
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Introduction to depreciation concept & methods
Analysis of income taxes
Profitability analysis – EBITDA, EBIT, EPS
Types and analysis of non-recurring items
Balance sheet
 Overview – purpose, balance sheet identity, and double-entry accounting
 Analysis of the income statement-balance sheet relationships
o Accounts receivable & revenues
o Inventories & COGS
o Fixed assets & depreciation
o Intangible assets & goodwill
o Deferred tax assets/liabilities & income taxes
o Retained earnings & net income
o Analysis of inventory methods
o Analysis of corporate investments – equity versus consolidated methods
of accounting
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W ALL STREET PREP 2014 FINANCIAL TRAINING CATALOG
o Analysis of fixed assets
 Impairment
 Capitalization versus expensing decision
o Analysis of working capital & current liabilities
o Introduction to financing decisions – debt versus equity
o Leases & off-balance sheet debt
o Shareholders’ equity
Cash flow statement
 Overview – direct versus indirect methods of cash flow statement preparation
 Analysis of cash flow from operations
o Analysis of depreciation, deferred taxes and working capital
 Analysis of cash flow from investing
o Capital expenditures & acquisitions
o Purchases & sales of investments
 Analysis of cash flow from financing
o Debt issuance & repayment
o Equity issuance & repurchase
o Dividends
Financial ratio analysis
 Purpose and use of ratio analysis
 Liquidity, profitability, activity, and solvency ratios
 Financial ratio analysis - an integrated approach
Financial statement analysis
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Analysis of depreciation methods
Analysis of inventory methods
Analysis of capitalization versus expensing decisions
Analysis of income taxes
 Analysis of corporate investments
 Analysis of leases and off-balance sheet debt
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Financial Statement Modeling
 Basic Excel techniques and keyboard shortcuts
 The most accurate way to perform Excel’s basic functions without the mouse
 Customize Excel’s default settings for effective modeling
 Standard modeling structures and formulas
 Best practices in modeling
 Learn the correct way to check models for errors, accuracy and integrity
 Check and fix circular reference and iteration problems (#REF)
 Tools for formula checking and auditing
 Create a ratios page
 Prepare a model for distribution
 Learn summary and sensitivity analysis using data tables
 Learn to build projection drivers
 Learn to integrate assumptions into financial models – learn what makes a good assumption
 Build core statements:
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o Cash flow statement
o Balance sheet
o Income statement
 Build supporting schedules:
o Debt schedule
o Working capital
o Interest schedule
o Retained earnings
o PP&E analysis
 Understand the interconnectivity of the core financial statements and learn how the cash flow
statement, income statement, and balance sheet are linked.
 Learn to apply automatic “balance checks”
 Understand treatment of non-recurring charges and tax implications on financial models
 Understand implications of new FASB regulations on financial models used by investment banks
and other financial institutions.
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Valuation Overview & DCF Modeling
 Learn market-based valuation, including comparable company analysis and comparable
transaction analysis using appropriate equity and enterprise value multiples (PE, EV/EBITDA,
etc.)
 Intrinsic valuation, including DCF and LBO (floor) valuation
 Presentation of valuation results using sensitivity analysis and data tables
 Participants learn to identify and analyze the elements of the financial statement that are key to
the value of an enterprise, including:
o Market capitalization
o Enterprise value
o Options
o Preferred stock
o Minority interests
o Debt
o Cash and marketable securities
o Treasury Stock Method of Calculating Diluted Shares Outstanding
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 Use previously built model to derive unlevered earnings and unlevered free cash flow
 Handle working capital items, deferred taxes and long-term accruals
 Learn how to derive a discount rate by deriving the cost of debt and the cost of equity
 Derive the cost of capital using CAPM
 Select the correct discount rates
 Estimating terminal value
 Calculating enterprise value
 Using the enterprise value to determine implied share prices
 Analyze key input assumptions at various sensitivities
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