Finance Management

The aim of this programme is to offer participants a systematic focus with which to analyse corporate operations, operations that permit the creation of value from the Financial Management point of view.
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The programme will provide participants with a financial vision enabling them to analyse financial statements, make investment decisions, become familiar with corporate appraisal methodologies and make hedging decisions through the use of derivative instruments.

This programme has been designed specifically for professionals in the financial area who need to refresh their knowledge and adapt it to an increasingly complex and changing environment. At the same time, this programme is necessary for all those executives whose responsibilities require they stay abreast of the key concepts in corporate finance.

The programme’s structure is based on a combination of lectures and presentations which will serve to provide a conceptual framework for each subject area along with practical case studies related to each content block. Special emphasis will be given to the practical application of the concepts taught. Sessions with the faculty will be enriched with analyses of case studies, practical exercises and the sharing of experiences between the faculty and participants.

1. Introduction to the financial system. Leading markets

• The role of financial markets.
• Types of financial markets.
• Introduction to markets: Goods markets, foreign exchange markets, money markets and capital markets (equity and fixed income markets, derivatives and securitisation).
• Market actors.
• Market functioning and negotiations.
• Description of regulatory bodies and financial institutions.

2. Financial analysis and planning

• Balance sheet analysis. Debt and solvency.
• Source and application of funds statement .
• Profit and loss account analysis. Fixed and variable costs.
• Profits by product line and other classification criteria.
• Asset and own fund profitability.
• Short-term planning. Budgeting.

3. Introduction to financial operations

• The time value of money.
• Annuities and single payments. 
• Mortgage design.
• Pension plan design.

4. Financial reporting

• Types of costs.
• Costs by sections and activities.
• Breakeven point analysis and special decisions.
• The Balanced Scorecard, its implementation and use.

5. Choosing investments

• Types of investments.
• Key variables when deciding on accepting a project. Introducing risk along with the base rate. Own fund and debt repayment costs. Project risks.
• Methods used to choose investments. Net Present Value (NPV), Internal Rate of Return (IRR) and payback period. Advantages and disadvantages.

6. Company appraisals

• Introduction to the cost of capital concept.
• Methods used to appraise companies.
• Dynamic methods. Discounted cash flow.
• Creating value in the firm based on future investments.

7. Hedging with the use of derivative instruments

• Currency hedging, description and instruments. Forward exchange contract, money market hedging, netting and currency options.
• Interest rate hedging, description and instruments. Forward Rate Agreement (FRA), financial futures and Interest Rate Swap (IRS).

 

Dates	Price	Location
From March 21 to June 14, 2012 From 9 am  to 14 pm and from 15.30 pm to 18.30 pm	8.500€	Zaragoza

Program Director

Jordi Fabregat Feldsztajn

jordi.fabregat@esade.edu

see CV

Sònia Remendo Cos, Product Manager

sonia.remendo@esade.edu

Sònia Remendo Cos, Program Manager

sonia.remendo@esade.edu