Learn Financial Modeling: Wall Street Prep's Premium Package (2024)

Course TOC

Building Buyers Lists

In this deep dive into what it takes to build buyers lists for target companies, you'll get an overview of the M&A deal process, learn to understand different types of buyers and analyze the typical motivations and important elements of both strategic and financial buyers. We'll take you through a s ...In this deep dive into what it takes to build buyers lists for target companies, you'll get an overview of the M&A deal process, learn to understand different types of buyers and analyze the typical motivations and important elements of both strategic and financial buyers. We'll take you through a step-by-step guide on how to use the PitchBook financial data provider to identify potential buyers for target companies, and show you how to complete a client-ready buyers list of companies you believe will be the most logical for your client. MoreLess

Building Buyers Lists

Adjusted EBITDA

While EBITDA is a popular measure of profitability, companies increasinglyuse "adjusted EBITDA" to present profit and show higher EBITDA by excluding significant lineitems, most notably stock based compensation. We begin by explaining why EBITDA has becomemore popular than straight cash flow or GAAP profits. We'll build upon this to judge theappropriateness of the most common adjustments that companies now make to EBITDA. We'll usereal company filings to examine the most common adjustments today's companies make to EBITDAto show: When using EBITDA is preferable to net income or cash flows, and when it isn't; Therationale for adding back stock based compensation, and how this can lead to overvaluation;The appropriate and inappropriate use of other common adjustments to EBITDA.

Buy-side Stock Analysis

How do buy-side investors make investment decisions? How do they know whereto begin? How do they pick a company to analyze? Ultimately, how do they analyze thatcompany and arrive at an investment thesis? Here, we take the first step towardunderstanding and analyzing a stock from the perspective of a buy-side investor.We beginwith a look at the due diligence and financial analysis process investors use to examineinvestment opportunities and progress to examine the variables buyside investors consider inreal life when making the final decision on whether to “pull the trigger.”

Common Mistakes in Calculating Diluted Shares Outstanding

Convertible Debt. Convertible Preferred Shares. Warrants. Stock Options.Restricted Stock. In the context of valuation, it's always difficult to accurately quantifyall potential claims against the common equity pot. This teach-inwill provide a solidfoundation for all grey areas in calculating diluted shares outstanding, both fromstand-alone and M&A valuation perspectives.Wewill show you: how to calculatedilution from the exercise of stock options and/or warrants using the Treasury Stock Method;best practices in treating convertible securities and the respective implications onvaluation; how to best deal with restricted stock given the context (standalone valuationvs. M&A context).

Debt Capital Markets: How to Survive Day 1

Designed for incoming and prospective DCM/Capital Markets analysts andinterns with no prior DCM experience, this course will provide an insider's prospective ofwhat you''ll be doing on the job. We'll focus on industry knowledge not taught in school anddemystify industry jargon. We start with the basics: what DCM actually does, what a DCM desklooks like and how to use the turret; We'll show you how to make a great first impressionfrom Day 1 and walk you through the DCM pitchbook and the DCM transaction roles andresponsibilities you need to know.

Debt Capital Markets Primer

Corporate finance bankers interact regularly with their product partners indebt capital markets, yet many have a limited understanding of the key drivers behind DCMbusiness. This webinar begins by introducing you to the key DCM business lines, includingLoan Syndication, Debt Origination, Liability Management and Risk Management. Next, itexamines the ways DCM bankers interact with corporate clients and concludes by explaininghow the bank makes money (with just the right amount of bond math).

Deconstructing Intercompany Investments

There are some line items on a company’s financial statements thatconsistently pose challenges for analysts and associates. Here, we focus on the line itemson the income statement, balance sheet and cash flow statement that arise when companiesmake investments in other companies. Using real-life examples, we answer the followingquestions: What are “non-controlling interests,” “equity investments” and “available forsale” securities? How do non-controlling (minority) interests and other investments flow through a 3 statement model? How are deferred taxes accounted for in such investments? How should models be adjusted when investments are made at higher than book value?

Deconstructing a Bank's Financial Statements

The unique business model of banks means that the financial statements andcore drivers often pose unique challenges in analysis, forecasting and valuation. In thisWebinar, we will take the first step toward understanding and analyzing bank financials. Itwill cover: A bank's major financial statements and how they differ from those of otherindustries; the key linkages between the financial statements; how a bank's business modeland regulatory considerations are reflected in the statements; and how to quickly analyzebank financials.

Deconstructing a Maritime Company's Financial Statements

Maritime companies have a unique business model which leads to financialstatements, forecasting and valuation techniques that are a little different from those of a"typical company." In this webinar, we will take you through a quick analysis of maritimefinancials and answer the following: What a non-maritime company's major financialstatements look like and how they differ from those of other industries; What key linkagesexist between the financial statements; How a maritime company's business model andregulatory considerations impact financial reporting.

Demystifying the Buy Side: Long/Short Investing

While the terms “hedge fund” and “long/short” are tossed around frequently,there's little clarity on how these strategies work in practice. Led by Mike Kimpel, WallStreet Prep instructor and adjunct Professor at Columbia Business School's popular ValueInvesting Program, thisteach-in will walk you through the most common "valueinvesting" strategies deployed at "long/short" hedge funds. We will examine real-world casestudies to answer the following: What does a long/short investing strategy aim to achieve? What are the typical types of fund strategies? What does long investing look like in practice? What does short investing look like in practice?

Demystifying Commercial Real Estate Modeling

Designed for IB, PE and real estate investment professionals, this coursewill show you how to construct a commercial real estate model in Excel in order to evaluateinvestment opportunities. We will cover: How to navigate Argus and how to link it into anExcel model; Basic lease structures and how each type differs; How to understand keyrevenue, operating expense and cash flow drivers of a commercial real estate model;Calculating unlevered and levered returns for a commercial property; Deal financing andsource & uses of funds.

Demystifying FX Options

Designed for incoming and prospective financial market professionals andinvestment bankers, this course will use real examples to demonstrate the various use casesfor Foreign Exchange (FX)Options. We'll start with an overview ofFXoptions trading conventions and decode some trader jargon beforeanswering: Who trades FXoptions andwhy? How do you price anoption? What causes the value of anFXoption to go up or down? What aresome different FXoption strategies andwhy would one use them? At course conclusion, you'll have a strong grasp of how corporates,banks, and investors use FXoptions tohedge against, or make money from, moves in the underlying FXmarket.

Demystifying the Healthcare Sector

Designed for prospective or incoming healthcare IB/PE analysts &associates as well as anybody interested in learning about the healthcare sector, thiscourse will introduce you to industry sub-sectors and explore the key financial andoperating metrics, drivers, industry jargon, valuation methodologies, trends and regulatoryconcerns of each.

Demystifying Hostile Takeovers

This course uses transactions such as Monsanto/Syngenta, Sanofi/Medivationand Anthem/Cigna to explain the most common defense mechanisms, tools and strategiescompanies use to defend against hostile takeovers. Specifically, we answer the followingquestions: What are the considerations for a tender offer and how does it differ from aproxy contest? What are preventive defense mechanisms such “poison pills” and “staggeredboards” and how do they protect a company? What strategies can companies invoke when facingan activist hedge fund? Are companies under any obligation to accept a hostile bid if it ishigher than other bids?

Demystifying the Private Equity Deal Process

Designed for incoming and prospective PE associates as well as investmentbankers and lenders working with PE clients, thismini-courseis astep-by-stepwalkthroughofthe keyphases of the private equity deal process. We bring you through the major PEdeal checkpoints (Pre-Deal,First Round Bid/IOI,Diligence Deep Dive/LOI, Post-LOI, Closing)and describe howjunior professionals can add value to the deal team.

Demystifying Restructuring Investment Banking for Incoming Analysts and Associates

This course is designed for incoming restructuring bankers and currentbankers looking to further their restructuring or distressed debt knowledge. It provides anin-depth overview of restructuring and identify the skills you'll need in the early days ofyour restructuring IB career. We begin by introducing the restructuring process as well ascommon pitchbook and financial analyses in restructuring IB. From there, we take morein-depth look at the analyses and modeling-related techniques utilized by analysts andassociates early in their restructuring banking careers. This course assumes little to noprior knowledge of restructuring.

Demystifying The Role of an FP&A Professional

Ever wonder how companies actually make the earnings forecasts that theycommunicate to Wall Street? Enter the FP&A professional—one of the mosttechnically rigorous corporate finance career paths. FP&A professionals work closelywith the CFO, Director of Finance and other stakeholders to provide them with theinformation they need to make strategic and operationaldecisions.Here, we'lltake a look at the rolean FP&A professional by discussing:Why FP&A iscritical in today's competitive business environment;How FP&A differs fromtraditional finance and accounting roles;The skills a qualified FP&A professionalshould possess.

Excel Basics (Mac)

Proficiency in Excel is a fundamental part of the finance job description.And while the Windows version of Excel reigns supreme on the job, in our MBA and undergradclasses we still get the question all the time: “What about Excel on a Mac?” In this course,we introduce Mac users to the basics of Excel. We will cover topics such as: The Mac ExcelLayout and Ribbon; Editing and Working with Numbers and Operators; Formatting and Navigation(Worksheets, Workbook, Rows & Columns); Working with Rows & Columns; Time-SavingTools (Anchoring Cells, Formula Auditing, Interpreting Errors, Find and Replace);Introduction to Functions (SUM, Average, IF and nested IF). The only way to learn Excel isby doing, so you’ll be completing Excel exercises every step of the way.

Excel Basics (Windows)

For finance professionals, proficiency in Excel is a fundamental part of thejob description. Whether you currently work in Excel at a beginner or intermediate level,this course will take you to the next level and turn you into an advanced "power" user.We'll start with the basics before we quickly introduce you to lesser known time-savingkeyboard shortcuts and powerful Excel functions and features that you can immediately put touse on the job. The only way to learn Excel is by doing, so you'll be completing Excelexercises alongside the instructor at every step of the way.

From Excel User to Excel Master: Demystifying VBA

You know by now that Excel proficiency is a must for any successful financeprofessional, but it's those who venture into Excel's advanced functionality that willbecome standout analysts. This webinar will teach you how to:Unlock the DeveloperRibbon in order to use VBA;Manipulate cells and sheets, whether they're hidden or not;Record,modify and write macros from scratch;Set up special commands when a button is pressed,a cell is selected, or a cell's value is changed;Run through your code, line by line,to debug.

IB Soft Skills: Tools for Becoming an Amazing Junior Banker

You’re heading to a friend’s wedding and you’re about to board your planewhen you get a call from your office saying you’ve been staffed and need to come back ASAP.What do you do? Becoming a successful banker is not just about modeling and technicalskills. In this course, we talk about the specific tactics and strategies you can employ onday 1 that have nothing to do with modeling. Specifically, you’ll gain tools to handlecommon challenges and situations. Conducted by Matan Feldman, Founder and CEO of Wall StreetPrep, this course will give you actionable tools for differentiating yourself as a juniorbankers from day 1.

Insurance Company Financial Statements

The unique business model of insurance companies is reflected in theirfinancial reporting, and leads to a differentiated approach towards analysis, forecastingand valuation. In this webinar, we will take the first step towards understanding andanalyzing such financials to answer the following: What a non-life insurer’s major financialstatements look like and how they differ from those of other industries; What key linkagesexist between the financial statements; How an insurer’s business model and regulatoryconsiderations impact financial reporting; How a quick analysis of insurance financials isdone.

An Introduction to Project Finance

As the demand for energy and infrastructure projects increases,understanding project finance mechanics is becoming an increasingly valuable skill set forinvestment bankers as well as corporate and project finance professionals. This webinar willintroduce you to key project finance topics including: The drivers for project finance/the"who" and "why;" Sources of project finance; How the typical project finance deal structurediffers from that in corporate finance.

Oil & Gas Financial Statements

This webinar is designed to help participants understand the structure andlayout of the O&G financial reports. We start by looking at different O&G accountingmethods and their impact on financial statements. We then touch on the differences between1P, 2P, and 3P reserves before spending the rest of the time analyzing and interpreting O&Gfinancial statements, footnotes, and disclosures, and on performing O&G ratioanalysis.

PowerPoint Shortcuts for Investment Bankers

One of the first things investment banking analysts hear when they get totheir desks is the importance of mastering shortcuts in Excel. But there’s another Microsoftprogram junior bankers spend even more time in that gets a fraction of the attention:PowerPoint. In this course, you’ll gain skills that will reduce the amount of time it takesyou to create and update pitchbook slides by 60%. We'll focus on 4 key time-savingtechniques: hold shortcuts, hybrid shortcuts; ribbon guide shortcuts and QAT guideshortcuts.

A Practitioner's Guide to Private Company Analysis

Designed for incoming and prospective investment bankers, private equityassociates and lenders, this course will show you how professionals analyze privatecompanies in order to evaluate investment opportunities, drive valuation, inform a sell-sideand/or buy-side process and generally assess overall financial health. Part one will coverprivate company analysis in early stages of the investment process, and will answer:Historically and today, how healthy is the company? What does the company's financial futurelook like? What challenges exist when working with a private company? What's different whenanalyzing a private vs public company?

Private Equity Real Estate Waterfalls

Part 1 of this 2-part course will show you how professionals structure andcalculate waterfalls — the method in which distributions are split between sponsor andinvestor. It will will cover the basics of private equity real estate waterfalls, including:The rationale behind why waterfalls exist; Whole fund carry vs deal-by-deal carry; Multiplehurdle rates and a Catch-up; Common calculation mistakes to avoid; A dynamic waterfall modelillustrating the distribution of cash flows.

Skills for Negotiating Transactions

Junior bankers who aspire for advancement often struggle with the challengeof stepping out of their technically oriented analyst/associate role and into a morecustomer- and relationship-oriented role of a senior banker. "Moving from Junior to SeniorBanker: Skills for Negotiating Transactions" covers: Power and leverage in a negotiation;When should you make the opening bid; How to counter hardball tactics; How to deal withliars or unethical negotiators; How to break the zero sum model and create value for yourclients; The importance of framing; How the nature of the relationship drives thenegotiating style.

Understanding Asset v Stock Sales

There's probably no area of M&A more challenging than understanding thedifferences between deals structured as stock sales or asset sales/338 elections. We beginwith an explanation of how the decision to structure a deal as either a stock sale or anasset sale/338 election creates significant tax and accounting implications for both buyerand seller. Next we examine the buyer/seller benefits and drawbacks of each deal structurebefore showing how a negotiation can resolve buyer/seller benefits and drawbacks. We'llconclude with a look at the deal structure's impact on financial models.

Understanding Corporate Financial Restructuring

This course is meant to introduce newbies to a high level overview offinancial restructuring and set the stage for further more advanced analysis. The first fewlessonsdemonstrate using simple examples how companies find themselves in distress. The nextseveral lessons illustrate how financial restructuring can be used to cure the distress. Thelast several lessons dive deeper into priorities, valuation of firms under distress, andconsiderations for distressed debt investors.

Understanding Divestitures

While mergers and acquisitions capture headlines, global spin-offtransactions quietly reached a record high of over $250 billion last year. So why would acompany want to spin off or divest a subsidiary? And how exactly is it done? With a specificlook at eBay's 2015 spin-off of PayPal, here we will examine the value proposition ofspin-offs and other popular divestiture mechanisms to answer the following: When does adivestiture make strategic sense? How exactly does a company carry out the separation? Howdo divestitures impact financial statements? What are the tax consequences ofdivestitures?

Understanding E&P Hedging Techniques and How to Model Them

Commodity prices are volatile. For companies in the business of producing orselling commodities, revenue and cash flow forecasts rely heavily on the price at which theycan sell their commodities in the future. So heavily, in fact, that firms aggressively usehedging strategies to protect against changes in commodity prices. In this coursedesigned for Oil and Gas investment banking, private equity, and research professionals,we'll demystify how oil and gas producers use hedges and how to adjust financial models tocorrectly reflect them.

Understanding MLPs

The rapid growth as an asset class of publicly traded partnerships known asMaster Limited Partnerships (MLPs) was a financial success story of the last decade.However, given the current commodity price environment, the premise of the MLP model hascome under review. This course begins with an overview of the MLP asset class including alook at its many sub-sectors and risks. It progresses with a look at MLP valuation,including modeling the accretion/dilution of an acquisition or project and understanding thetax implications of investing in MLPs.

Understanding Purchase Price Allocation

M&A accounting and purchase price allocation in particular arechallenging concepts for practitioners to understand and correctly implement into models. Inthis webinar, we'll take the first step towards understanding the general PPA process andprocedures to answer the following: What is purchase price allocation and how is itperformed? What is the PPA impact on financial statements? What are the key differencesbetween PPA requirements for public companies vs. privately-held businesses? How do wehandle complexities around various purchase considerations?