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Course Details

Corporate Finance - Practical Applications (Course Id 782)

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Author : Steven Bragg, CPA
Status : Production
CPE Credits : 15.0
IRS Credits : 0
Price : $121.95
Passing Score : 70%
NASBA Technical: No
Primary Subject-Field Of Study:

Finance - Finance for Course Id 782

Description :

Corporate Finance follows the flow of funds through a business, including fund raising, internal cash management, and the deployment of funds to dividends, capital expenditures, investments, and acquisitions. This course is intended to give the professional manager direction regarding how to develop an appropriate capital structure and determine the best types of debt and equity funding. Additional tools are provided for calculating the cost of capital and constructing cash flows to analyze potential cash uses. Full coverage of risk management for foreign exchange and interest rates is also included.

Usage Rank : 0
Release : 2015
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 05-Sep-2015
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 782

Keywords : Finance, Corporate, Finance, Practical, Applications, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

    • Recognize the players involved in the practice of corporate finance.
    • Note the components of capital structure, and the situations that may call for its revision.
    • Identify the methods used to construct financial plans, and the reliability of the component information.
    • Note the negative aspects associated with the use of certain types of early-stage financing.
    • Recognize the steps involved in the initial public offering, and the restrictions placed on a business during that time.
    • Identify the different techniques available for selling shares outside of an initial public offering, and the restrictions associated with their use.
    • Identify the terms associated with the different types of debt financing.
    • Note the characteristics of the different types of leases.
    • Identify the formula components for the cost of capital, and the costs associated with each one.
    • Recognize the different discounted cash flow concepts, and how they are used.
    • Identify the techniques used to control the amount of funds invested in working capital.
    • Cite the alternatives available for determining the worthiness of proposed capital expenditures.
    • Identify the different investment strategies, and the characteristics of the more common financial instruments.
    • Identify the dividend payout formula, the implications of a high ratio, and the impact on investors when dividends are first issued.
    • Recognize the different types of acquisition strategies and valuation methods, as well as the implications of making different types of payment offers to the owners of an acquisition target.
    • Note the hedging techniques used to mitigate foreign exchange risk.
    • Cite the hedging techniques used to mitigate interest rate risk.
    • Identify the conditions under which supply chain financing is most likely to be accepted by suppliers.
    • Recognize the ratios used to measure the ability to pay, and the contents of the ratio formulas.

Chapter 1
Overview of Corporate Finance

Recognize the players involved in the practice of corporate finance.

Chapter 2
Capital Structure

Note the components of capital structure, and the situations that may call for its revision.

Chapter 3
Financial Planning

Identify the methods used to construct financial plans, and the reliability of the component information.

Chapter 4
Early-Stage Financing

Note the negative aspects associated with the use of certain types of early-stage financing.

Chapter 5
The Initial Public Offering

Recognize the steps involved in the initial public offering, and the restrictions placed on a business during that time.

Chapter 6
Other Capital Raising Alternatives

Identify the different techniques available for selling shares outside of an initial public offering, and the restrictions associated with their use.

Chapter 7
Debt Financing

Identify the terms associated with the different types of debt financing.

Chapter 8
Leasing

Note the characteristics of the different types of leases.

Chapter 9
The Cost of Capital

Identify the formula components for the cost of capital, and the costs associated with each one.

Chapter 10
Discounted Cash Flows

Recognize the different discounted cash flow concepts, and how they are used.

Chapter 11
Working Capital Management

Identify the techniques used to control the amount of funds invested in working capital.

Chapter 12
Capital Expenditures

Cite the alternatives available for determining the worthiness of proposed capital expenditures.

Chapter 13
Investment Alternatives

Identify the different investment strategies, and the characteristics of the more common financial instruments.

Chapter 14
Dividends and Other Payouts

Identify the dividend payout formula, the implications of a high ratio, and the impact on investors when dividends are first issued.

Chapter 15
Mergers and Acquisitions

Recognize the different types of acquisition strategies and valuation methods, as well as the implications of making different types of payment offers to the owners of an acquisition target.

Chapter 16
Foreign Exchange Risk Management

Note the hedging techniques used to mitigate foreign exchange risk.

Chapter 17
Interest Rate Risk Management

Cite the hedging techniques used to mitigate interest rate risk.

Chapter 18
Supply Chain Financing

Identify the conditions under which supply chain financing is most likely to be accepted by suppliers.

Chapter 19
Corporate Finance Measurements

Recognize the ratios used to measure the ability to pay, and the contents of the ratio formulas.
Course Contents :

Chapter 1 - Overview of Corporate Finance

The Nature of Finance

Corporate Finance Topics

Financial Management

External Players

The Balancing Act of Corporate Finance

Chapter 2 - Capital Structure

Optimal Capital Structure

Capital Structure Analysis

The Financial Leverage Concept

Leverage Risk

Impact of Compensation on Leverage

Line of Credit Issues

Tax Shield Effects

Future Financing Flexibility

Market Timing

Loan Covenant Issues

Maturity Structure of Debt

Creditor Position Considerations

Debt Paydown

Cost of Capital Reduction

Market Signals

Planning for a Bond Rating

Timing of Changes to the Capital Structure

Chapter 3 - Financial Planning

The Cash Forecast

The Short-Term Cash Forecast

The Medium-Term Cash Forecast

The Use of Averages

The Reliability of Cash Flow Information

The Impact of Special Events

The Master Budget

The Budgeted Income Statement

Components of the Budgeted Balance Sheet

Additional Estimation Elements

The Cash Line Item

The Budgeted Balance Sheet

The Financing Budget

Chapter 4 - Early-Stage Financing

Angel Investors

Venture Capital

Dangers of Venture Capital

Chapter 5 - The Initial Public Offering

Reasons for and Against an IPO

Preparation for the IPO

The Initial Public Offering

Share Lockup Period

Blue Sky Laws

Regulation A Stock Sales

Solicitations of Interest

Forms 1-A and 2-A

Regulation D Stock Sales

Regulation D Rules

Regulation D Process Flow

The Form D Filing

The Accredited Investor

Private Investments in Public Equity

Provisions of the JOBS Act

Seasoned Equity Offerings

The Rights Offering

Dilution

Chapter 7 - Debt Financing

Overview of Debt Financing

The Line of Credit

The Borrowing Base

Invoice Discounting

Factoring

Receivables Securitization

Inventory Financing

Loan Stock

Purchase Order Financing

Hard Money Loans

Mezzanine Financing

The Long-Term Loan

Bonds

Agency Financing

Debt for Equity Swaps

Chapter 8 - Leasing

The Lease Arrangement

The Lease or Buy Decision

Leasing Concerns

Leasing Advantages

Chapter 9 - The Cost of Capital

Cost of Capital Derivation

Cost of Debt

Cost of Preferred Stock

Cost of Common Stock

Weighted Average Cost of Capital

Variations in the Cost of Capital

Adjustments to the Cost of Capital

Cost of Capital as a Threshold Value

Chapter 10 - Discounted Cash Flows

Time Value of Money

Present and Future Value Tables

Net Present Value

Internal Rate of Return

Incremental Internal Rate of Return

Terminal Value

Inclusions in Cash Flow Analysis

Chapter 11 - Working Capital Management

The Impact of Working Capital on Corporate Finance

Accounts Receivable Enhancements

Credit Enhancements

Billing Enhancements

Collection Enhancements

Accounts Receivable Policies

Inventory Enhancements

Product Design

Product Record Keeping

Inventory Acquisition

Inventory Ownership

Manufacturing Process Flow

Fulfillment

Inventory Disposition

Inventory Policies

Departmental Cooperation

Accounts Payable Enhancements

Terms Renegotiation

Early Payment Discounts

Payment Processing Frequency

Accounts Payable Policies

Researching Working Capital Enhancements

Working Capital Forecasting

Working Capital Strategy

Chapter 12 - Capital Expenditures

Overview of Capital Expenditures

Net Present Value Analysis

Breakeven Analysis

The Profitability Index

The Payback Method

Real Options

Constraint Analysis

Capital Expenditure Proposal Analysis

The Outsourcing Decision

Complex Systems Analysis

Chapter 13 - Investment Alternatives

Investment Guidelines

Cash Availability Scenarios

Investment Strategy

Types of Investments

Repurchase Agreements

Time Deposits

Certificates of Deposit

Bankers’ Acceptances

Commercial Paper

Money Market Funds

U.S. Government Debt Instruments

State and Local Government Debt

Bonds

The Primary and Secondary Markets

The Effective Interest Rate

The Discounted Investment Formula

Chapter 14 - Dividends and Other Payouts

Dividend Mechanics

Types of Dividends

The Investor Viewpoint

The Company Viewpoint

The Stock Buyback Option

Deciding Between a Dividend and a Buyback

The Stock Dividend

Chapter 15 - Mergers and Acquisitions

Acquisition Strategy

The Sales Growth Strategy

The Geographic Growth Strategy

The Product Supplementation Strategy

The Full Service Strategy

The Vertical Integration Strategy

The Adjacent Industry Strategy

The Diversification Strategy

The Market Window Strategy

The Bolt-on Strategy

The Low-Cost Strategy

The Industry Roll-up Strategy

Valuation of a Target Company

Liquidation Value

Real Estate Value

Relief-from-Royalty Method

Enterprise Value

Multiples Analysis

Discounted Cash Flows

Replication Value

Comparison Analysis

The Strategic Purchase

The Control Premium

The Valuation Floor and Ceiling

Payment Structures

The Stock-for-Stock Exchange

The Exchange Ratio

Issues Impacting the Stock Payment Decision

Stock Payment Based on Fixed Share Count or Fixed Price

The Debt Payment

The Cash Payment

Practical Considerations

Chapter 16 - Foreign Exchange Risk Management

Foreign Exchange Risk Overview

Foreign Exchange Risk Management

Take No Action

Avoid Risk

Shift Risk

Time Compression

Payment Leading and Lagging

Build Reserves

Maintain Local Reserves

Hedging

Types of Foreign Exchange Hedges

Loan Denominated in a Foreign Currency

The Forward Contract

The Futures Contract

The Currency Option

The Cylinder Option

Swaps

Netting

Chapter 17 - Interest Rate Risk Management

Interest Risk Overview

Interest Rate Risk Management

Take No Action

Avoid Risk

Asset and Liability Matching

Hedging

Types of Interest Rate Hedges

The Forward Rate Agreement

The Futures Contract

The Interest Rate Swap

Interest Rate Options

Interest Rate Swaptions

Chapter 18 - Supply Chain Financing

Supply Chain Financing

Chapter 19 - Corporate Finance Measurements

Corporate Finance Metrics

Cash Conversion Cycle

Days Sales in Accounts Receivable

Days Sales in Inventory

Days Payables Outstanding

Actual Cash Position versus Forecast

Earnings on Invested Funds

Ability to Pay Measurements

Interest Coverage Ratio

Debt Service Coverage Ratio

Fixed Charge Coverage Ratio

Cash Coverage Ratio

Debt to Equity Ratio

Average Cost of Debt

Borrowing Base Usage

Glossary

Finance Course 782 Home: https://www.cpethink.com/cpe-for-cpas
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