Advanced Financial Statement Analysis | IIR Middle East - Traning Course

Understand and interpret financial results for better management, investment and credit decisions

Advanced Financial Statement Analysis

17 – 20 November 2013 • Fairmont Hotel, Dubai, UAE

TOP 4 LEARNING OBJECTIVES 1. Focus on the assessment of business performance through the analysis of financial statements as well as the valuation of off-balance sheet obligations and commitments i.e. documentary credits and derivatives 2. Understand the different approaches for pricing a company’s fair value for a variety of purposes, i.e. mergers & acquisitions, divestitures, investments and trading 3. Analyse the different problems and risk variables that a company might encounter via the proper analysis of its financial statements 4. Detect the weak spots in a company’s performance and eventually assist bank executives to cross sell their different products in asset liability management, risk management and others

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Advanced Financial Statement Analysis 17 – 20 November 2013 • Fairmont Hotel, Dubai, UAE Introduction

Meet Your Expert Course Leader Nabil Zaki has been in the investment and banking industry for more than 30 years. During that period, he assumed senior positions in both corporate finance and treasury with major Wall Street firms and international financial institutions in New York, Canada and the Middle East.

He has held high profile management positions with Chase Manhattan Bank, Merrill Lynch, Prudential Securities and Tradition. Currently, Nabil is an adjunct Professor of Corporate Finance and Derivatives at New York University. He taught at New York Institute of Finance (currently known as FT Knowledge) from 1995 until 2004. He lectures extensively on portfolio management, risk management, derivatives, and international capital markets for major Wall Street firms and financial institutions. Also, Nabil is consulting a number of banks and financial institutions in the U.S.A, Asia, and Japan in the areas of asset/ liability management, credit derivatives and restructuring as well as risk management.

Currently, he is the Group Adviser for the Board of Directors of a major Asian bank; EON Bank and an Independent Board Professional Director at the Board of Directors of Signature Asset Management Company Limited - a Cayman Island incorporated company. Nabil taught previously at the American University in Cairo, George Brown College, and University of Toronto. He is a regular commentator on CNN, CNBC and Al-Jazeera. He holds a Masters degree in Economics and Finance from Syracuse University, New York (1981).

As the global economy continues to pass through a period of uncertainty, the ability of finance professionals to effectively analyse financial statements and make decisions based on this analysis is increasingly important. Assessing the financial health of a company can be a complex task and a simplistic approach to financial analysis can potentially lead to misleading (and costly) decisions.

This course will provide you with the necessary analytical framework and a wide array of practical tools to help you understand and exploit information in financial statements. You will be shown how to examine the many valuable and relevant pieces that make up a financial statement. Application of advanced techniques will enable you to gain more information out of financial statements, allowing you to better assess a company’s profitability and risk and to make more accurate valuations.

Various approaches to investment analysis and valuation will be explored. You will also delve into specific decisions such as mergers & acquisitions, divestitures, investments and trading that managers face in their organisations.

Course Methodology It is essential for all those who have to read, understand and analyse financial statements. The tools and techniques you will gain from this highly informative course will be easily transferable to the workplace, enhanced through a combination of interactive case studies, exercises and examples.

Who Should Attend?

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Accountants

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Financial Analysts

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Evaluation Officers

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Appraisal Executives

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Corporate Finance Executives

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M&A Officers

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Project Managers

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Equity & Bond Analysts

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Course Timings Registration will commence at 07:30 on Day One. The course will start each day at 08:00 and finish at 14:30.

There will be breaks for refreshments and lunch will be served at the end of each day’s session.

The Importance Of Economics In Financial Analysis And Evaluation • Monetary and fiscal policies • Analysis of economic variables • Globalisation Credit Risk • Anatomy of credit risk • Importance of volatility and sensitivity in analysing credit risk • The importance of leverage in analysing credit risk • Credit risk emanating from derivative products; swaps and options • Actual and potential market risks • Risk equivalency • Credit rating agencies The Nature Of Financial Statements • The balance sheet • The operating statement • The cash flow statement • The statement of changes in owners’ equity

• Valuing the equity • Valuing the total company • Value in restructuring and combinations Quantification Of Credit Risk • Regulatory approach to credit risk • Individual institutional approach • Mark-to-market approach • BIS-based approach to credit risk • VAR – Value at Risk

Tools Of Financial Analysis And Control • Management’s point of view • Owners’ point of view • Lenders’ point of view • Integration of financial performance analysis • Financial and operating leverage • Liquidity analysis • Stress liquidity • Theory of capital structure • EBIT-EPS analysis

Coping With Credit Risk • Credit exposure limits • Netting and diversification • Collateralisation • Coupon resets • Internal controls Credit Risk Issues • The likelihood of default • Ratio analysis and statistical approaches for evaluating credit risk • Uses and applications of credit derivatives for risk management - Hedging default risk - Freeing up credit lines - Hedging credit spreads - Hedging credit downgrades

Projections Of Financial Requirements • Pro forma financial statements • Cash budgets • Operating budgets The Cost Of Capital And Business Decisions • Capital asset pricing model • Risk categories • Weighted cost of capital • Multiple rate analysis Credit Risk Issues • The likelihood of counterparty default • Relying on credit rating agencies • Portfolio credit quality • The importance of data in evaluating credit risk for bank clients

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Valuation And Business Performance • Valuing the company • Capital asset pricing model • Dividend discount model • Analysis of company’s performance • The most recent trends in company valuations; Merton model, KMV model • The use of financial statements for credit risk evaluation and assessment • The importance of analysing off-balance sheet obligations • Balance sheet and assessing the company’s liquidity risk.

Case Study – including a full and detailed review of a company’s balance sheet, income statements as well as cash flow statement

Managing Operating Funds • Funds flow cycles • Variability of funds flows • Funds management and shareholder value - Cash management - Working capital management - Investment management

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- Working under lack of data - Rating and scoring

Country Risk Assessment And Sovereign Debt Rescheduling • Concepts and definitions • Country limits • Types of assessment systems • Economic factors; debt service ratios, total debt outstanding, debt maturity analysis

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Advanced Financial Statement Analysis 17 – 20 November 2013 • Fairmont Hotel, Dubai, UAE

FIVE WAYS TO REGISTER IIR Holdings Ltd. P.O Box 9428 Dubai, UAE

+971 4 335 2437 +971 4 335 2438 register@iirme.com

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DISCOUNTS AVAILABLE FOR 2 OR MORE PEOPLE CALL – +971 4 335 2483 E-MAIL – a.watts@iirme.com BC4788 Event

Course Fee Before 1 September 2013

Course Fee Before 22 September 2013

Final Fee

US$ 3,895

US$ 4,395

US$ 4,695

Advanced Financial Statement Analysis

17 – 20 November 2013

WOULD YOU LIKE TO RUN THIS COURSE INͳHOUSE?

Course fees include documentation, luncheon and refreshments. Delegates who attend all sessions will receive a Certificate of Attendance.

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A confirmation letter and invoice will be sent upon receipt of your registration. Please note that full payment must be received prior to the event. Only those delegates whose fees have been paid in full will be admitted to the event. You can pay by company cheques or bankers draft in Dirhams or US$. Please note that all US$ cheques and drafts should be drawn on a New York bank and an extra amount of US$ 6 per payment should be added to cover bank clearing charges. In any event payment must be received not later than 48 hours before the Event. Entry to the Event may be refused if payment in full is not received.

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Cancellation If you are unable to attend, a substitute delegate will be welcome in your place. Registrations cancelled more than 7 days before the Event are subject to a $200 administration charge.

Registration fees for registrations cancelled 7 days or less before the Event must be paid in full. Substitutions are welcome at any time.

Avoid Visa Delays - Book Now Delegates requiring visas should contact the hotel they wish to stay at directly, as soon as possible.

Visas for non-GCC nationals may take several weeks to process.

All registrations are subject to acceptance by IIR which will be confirmed to you in writing.

Due to unforeseen circumstances, the programme may change and IIR reserves the right to alter the venue and/or speakers.

Event Venue: Fairmont Hotel, Dubai, UAE Tel: +971 4 332 5555 Accommodation Details We highly recommend you secure your room reservation at the earliest to avoid last minute inconvenience. You can contact the IIR Hospitality Desk for assistance on: Tel: +971 4 407 2693 Fax: +971 4 407 2517 Email: hospitality@iirme.com © Copyright I.I.R. HOLDINGS B.V.

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