The Specialized Program comprises 156 teaching hours*.
Module I: Strategic Financial Analysis
to. Analysis of financial information for decision making
- Financial statements for business management.
- Financial analysis through ratios.
- Table of sources and uses of funds.
b. Short-term Financial Projections
- Projection of financial statements.
- Projection of operating cash flow.
- Formulation of the annual budget.
Module II: Operational Finance
a. Management of current assets and liabilities
- Treasury management.
- Negotiation of the terms of the business relationship with customers and suppliers.
- Negotiation with financial creditors.
- Expense control
b. Determination of the Working Capital Needs (WCN)
- Model of the Operational Need for Funds – Working Capital (ONF-WC).
- Self-sustaining growth model.
- Adjustments to the NOF-CT model
Module III: Structural Finance
a. Cost of capital
- Capital Assets Pricing Model
- Weighted average cost of capital (WACC), interpretation and use
b. Capital structure
- Maximum borrowing capacity.
- Optimal level of debt.
c. Tactical decisions on capital structure
- FRICTO Model
- Negotiation with financial institutions.
- Sources of financing in the capital market.
Module IV: Valuation Models
a. Valuation of financial assets
- Bond valuation.
- Stock valuation.
b. Valuation of investment projects
- Cash flows relevant to the evaluation of investment projects.
- Sensitivity analysis.
c. Business valuation
- Introduction to business valuation.
- Discounted cash flow method.
- Valuation by multiples.
Module V: Strategic alignment of financial management
a. Competitive analysis
- Environmental analysis.
- Internal analysis.
b. Redefining the strategy
- Redefining business strategy.
- Alignment of strategic planning with financial planning.
c. Tactical plans for strategic alignment
- Actions to generate liquidity.
- Debt reprofiling.
- Special cases.
*One class hour is equivalent to 45 clock minutes.