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Forensic Cash Flow Analysis
London, UNITED KINGDOM | April 23-24, 2007Grange City Hotel
Description
With an emphasis from the outset on participation; meaning learning by 'doing'; by asking questions, and by contributing. Participants will take away background information, the examples, the work produced during the sessions, and a template to use when analysing counterparties or their own companies in future.
The two-day course, lead by Ron Wells, is designed for a maximum of 20 participants, and is based on US GAAP and IAS 7 rules. All participants should have a working knowledge of the traditional balance sheet, and profit and loss statement and the course is targetted at:
Who should attend
Credit analysts
Financial analysts
Corporate bankers
Credit manager
Venture capital executives
Corporate lending officers
Treasury managers
Chief financial officers
Please click to download the course brochure to read more. Please book early to avoid disappointment.
The price is GB£1,450 plus 17.5% VAT.
Brochure
Programme
Day one: Monday, April 23, 2007
09:00 Registration
Cash flow cycle analysis is a simple yet powerful tool that is as useful in the absence of financial statements as it is in cases of full disclosure.
09.15 Cash flow cycle analysis
Learn and practice the theory and art of cash flow cycle analysis. Apply this technique to various cases to reveal for yourself its magical decision-supporting power.
10:30 Break
Cash flow statements are either ignored by analysts or accepted as reflecting the truth. cash flow holds the key to repayment so it is vital that cash flow statements are understood for what they represent: imperfect portents of the future.
11.00 An Introduction to cash flow statements
How GAAP and IAS-conforming cash flow statements are constructed.
• The cash flow statement is far more important than either the balance sheet or the income statement in revealing information about a company.
12:30 Lunch
14.00 Creating a cash flow statement (indirect method)
Review GAAP and IAS-conforming cash flow statement theory.
• Practice creating cash flow statements based only on balance sheet and profit and loss statement information, employing the most popular method used by reporting companies, the indirect method, in order to consolidate understanding of the theory.
• Participants will work through several examples in order to clarify understanding of the source of the figures reported in published cash flow statements.
17:00 End of day one
Day Two: Tuesday, April 24, 2007
Sweep aside all the lies found in many annual reports, and focus on the real story: the story many CEOs and CFOs do not want us to read. Learn to detect and anticipate deteriorating cash flow quality and quantity. Interpret the impact of key cash drivers. Find out how to predict deteriorating debt capacity.
09:00 Forensic cash flow analysis: some tricks of the trade
Learn how to mislead analysts using a conforming cash flow statement
• Revenue from discontinued operations provides fertile ground for subterfuge
• Taxes paid are a serious means by which to deceive
• Capital expenditure - what an opportunity!
• Trading securities occasionally is perfectly acceptable, or is it?
• Tax breaks on employee stock/share options exercised in the US - what a gift!
10:30 Break
11.00 Constructing a liquidity analysis and forecast: learn to adjust a common reported cash flow statement, to establish:
• Sustainable operating cash flow (sOCF)
• Free cash flow (FCF)
• Past and predicted future liquidity
12:30 Lunch
Put the lessons learnt into practice to uncover interesting truths about an authentic audited cash flow statement, a syndicate-based exercise.
13:30 Case study: forensic cash flow and liquidity analysis
A detailed example will be presented and discussed. A worksheet providing a step-by-step guide to forensic cash flow analysis in practice will be supplied and explained.
15:00 Break
15:30 Title to come
Participants will analyse extracts from a set of audited financial statements, and construct an adjusted cash flow analysis for the example company. Compare results with those produced by other syndicates.
17:00 End of workshop
Venue
Grange City Hotel
8-14 Cooper's RowLondon
EC3N 2BQ
UNITED KINGDOM
Tel: +44 (0) 20 7863 3700 Fax: +44 (0) 20 7863 3701
Accommodation
Delegates are responsible for the arrangement and payment of their own travel and accommodation.
A preferential rate has been negotiated for you at The Grange City Hotel.
Upon registration a booking code will be provided so you may take advantage of a special discount available at The Grange City Hotel.
Sponsors
Sponsorship opportunities including exhibition stands are available for this event.
To become a sponsor, please contact Tom Whitehead, Head of Sponsorship Sales at twhitehead@exportagroup.com.
Exporta's events have a global reputation, renowned for superb networking opportunities and educational presentations by high-profile speakers.
Time after time our events attract the leading companies in our market as sponsors.
See below for a full list of our Event Sponsors, Institutional Partners and Media Partners and click on the logo to visit their web site.
Speaking opportunities
Interested in speaking at our events?
Share your expertise with the global trade, risk, commodity and export finance community.
Email Jeff Ando at jando@exportagroup.com
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