Course dates
Finance for Lawyers is designed to show you what analysts do.
The course is ideal for lawyers and others, who, whilst not working directly in functions requiring a
detailed knowledge of finance, need to be:
- Appraised of the risks that are involved when using financial information; and
- Familiar with the overall concepts and language used in financial analysis, credit transactions and other corporate finance activities.
The course is in the style of an intensive briefing with some case study material added. Delegates will be required to carry out a fair amount of financial manipulation and will be introduced to spreadsheets with a number of simple cases.
Delegates should have with them a simple calculator for use in financial analysis cases. A portable computer with spreadsheet software is also useful. For those who have never touched spreadsheets before, this course represents a gentle introduction, and questions are encouraged to ensure delegates develop their knowledge by enquiry. This is a must-attend course for anyone needing to be aware of the risks involved and inherent in the use of financial information.
How this course will help you:
You will gain a thorough understanding of:
- Modern financial analysis skills
- The features of a balance sheet, profit & loss and cash flow statement
- Financial analysis techniques
- Global accounting in the new century
- Cash flow analysis
- Evaluating capital investment projects
- The fundamentals of credit analysis
Day 1
09.00 - 09.20 Registration and coffee
Developing modern financial analysis skills
Session 1: introduction to financial analysis
– Differences in UK/US accounting terminology
– Identifying the relationship between cash flow and profit
– Development of an integrated cash flow model
– Recognising it’s all about cash
– Understanding the relationships between the three main accounting statements
Session 2: fundamentals of accounting statements
– The profit and loss account
– How the P&L has changed over the last 25 years
– Detailed review of the profit and loss account including explanation of all significant accounting terminology
– Profit types – trading, asset and business
– Inventory, depreciation, capitalised interest, minority interests and consolidation
– Exceptional and material items
Session 3: fundamentals of accounting statements
– The balance sheet
– Detailed review of the balance sheet including explanation of all significant accounting terminology
– Understanding the fixed assets note, accounting goodwill – what is it?
– Liabilities, pension fund accounting
– Debt and other liabilities like debt deferred tax, contingent liabilities
Session 4: financial analysis techniques – ratio analysis
– Objectives of ratio analysis
– Developing ratio analysis skills
– Defining the twelve key ratios
– How much information is there in ratios?
– Ratio rules – avoiding errors of principle
Session 5
Case study: Ratio calculation – delegates calculate ratios for a leading UK retail group. Delegates consider what ratios do and don’t tell us.
Day 2
Cash flow analysis, accounting issues and project analysis
Session 1: understanding cash flows
– Detailed review of the cash flow statement
– Analysing and interpreting cash flows
– Summarising cash flows for analysis
Case study: Summarising cash flows – delegates summarise cash flows for analysis purposes
Session 2: cash flow analysis
– Defining free cash flow
Case study: Examining patterns of cash flows – delegates match cash flows to sectors
Case study: Growth and no-growth cash flows – delegates restate cash flows to improve their understanding of performance
Session 3
Case study: Delegates summarise and evaluate the cash flows of this distressed British conglomerate
Session 4: accounting abuses and update
– Abuses of fair accounting
– Basic abuses relevant to all businesses
– More complex abuses relevant to larger groups
Session 5
Case study: Airtours/Mytravel
Delegates examine and evaluate the P&L of this major UK based travel group
Session 6: evaluating capital investment projects
– Introduction to capital budgeting
– Discounted cash flow techniques
– Calculating the internal rate of return
Case study: Speculative housing project
Delegates perform investment appraisals to decide whether to proceed with a capital investment
Session 7
Case study: Eight Projects
Delegates evaluate a number of projects and decide which projects should be pursued and which rejected.
Day 3
Credit analysis and strategy analysis
Session 1: overview of global accounting in the new century
– The history of international accounting
– Current international accounting approaches
– The major issues in international accounting
– The implications of the IAS initiative
– Currently contentious accounting issues
Session 2: funding structures
– The relationship between business risk and financial risk
– The four phases of the corporate life-cycle
– Identifying appropriate funding structures
– Recognising the drivers of funding strategies
Session 3: credit analysis - the basic concepts
– Introducing credit analysis frameworks
– Financial analysis and review of the issues
– Non-financial analysis – developing a framework
Session 4: economic and country risk
– Understanding the indicators and signals
– Implications of macro-economic change for investors, banks and businesses
Session 5: overview of non-financial analysis
– Strategy analysis – what is strategy/business risk?
– Overview of strategy terminology and concepts
Session 6: techniques for corporate assessment
– A pyramid model for strategy evaluation
– SWOT/Environmental analysis
– Porters five forces
– Boston portfolio matrix
– Environments matrix
– Exercises - Strategy evaluation techniques multiple choice
Session 7: mini case studies – strategy analysis
Mini case study: Major airline strategy change
Mini case study: Major private equity transaction in the packaging industry
Hotel in Central London, London, United Kingdom
Venue and Accommodation Information
All Euromoney Legal Training events are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds you expectations.
We have selected several venues across Central London, that we are confident meet our strict criteria for quality, service and professionalism. Each venue also offers accommodation for Euromoney Delegates at discounted professional rates.
Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date. Euromoney Legal Training can however recommend the following venues:
The Regency Hotel, Kensington
Found in London’s beautiful west-end, The Regency Hotel offers superb conference facilities and 4-star accommodation. The hotel is conveniently located for all major transport links, such as London’s Heathrow, Gatwick and Stanstead airports, all major London train stations, and is a short walk from the nearest tube station (South Kensington, Piccadilly Line).
For more information visit www.londonregency.com or call +44 (0) 207 373 7878
Millennium Knightsbridge
The four-star deluxe Millennium Hotel London Knightsbridge is situated in the heart of one of the best shopping areas of London. Of all the hotels in Knightsbridge, this Millennium Hotel is amongst one of the most contemporary and stylish Knightsbridge hotels in the area. This Knightsbridge hotel has excellent transport links - only a short walk from Knightsbridge underground station on the Piccadilly line and just 40 minutes from London Heathrow Airport via the underground.
For more information visit www.millenniumhotels.co.uk/millenniumknightsbridge or call +44 (0)20 7235 4377
Crowne Plaza, Kensington
The stylish Crowne Plaza London-Kensington hotel is a short walk from Victorian shopping, royal parks and London's epic museums. All the training rooms are fed with natural daylight with lunch or coffee breaks taking place on their attractive garden terrace.
For more information visit http://www.ichotelsgroup.com/crowneplaza/hotels/us/en/london/lonke/hoteldetail or call +44 (0)20 7373 2222
London Marriott Hotel, Kensington
Located close to Central London in the heart of Kensington, the London Marriott Kensington is perfectly situated for the best shopping and tourist attractions.
For more information visit http://www.marriott.co.uk/hotels/travel/lonlm-london-marriott-hotel-kensington
The Rembrandt, Knightsbridge
The Rembrandt is a spectacular hotel with the timeless ornate architecture and traditional qualities of an Edwardian building. Located in the exclusive area of Knightsbridge, the hotel was originally built as apartments for Harrods, as such all rooms have an individual shape, giving them each their own special feel. Each of the training rooms have natural daylight and a private lobby area.
For more information visit http://www.sarova.com/rembrandt or call +44 (0)20 7589 8100
Radisson Edwardian, Central London
The Radisson Edwardian offers a wide range of venues and accommodation across Central London, including such famous London areas as Covent Garden, Leicester Square and Mayfair. Each location offers 4-star accommodation and training facilities.
For more information visit www.radissonedwardian.com or call +44 (0)800 37 44 11
Euromoney Legal Training has also appointed approved and independent booking agencies to help you find the best location for you to stay during your time in London:
Venue Search UK
All the delegates have to do is telephone +44 (0)20 8541 5656 or email beds@venuesearch.co.uk and say that they are a Euromoney delegate!
Zibrant
Zibrant offer a huge range of hotels across London and can find you accommodation as close to your training venue as possible. They will ensure that you receive preferential rates as a Euromoney delegate. Go to www.zibrant.co.uk/euromoney for more details. Alternatively you can email your enquiry to euromoney@zibrant.co.uk or call +44 (0) 1332 285 521.
Euromoney Legal Training strongly recommends that you do not book your accommodation until you have received full course confirmation.
If you require any further information, please contact us:
Euromoney Legal Training
Nestor House
Playhouse Yard
London
EC4V 5EX
United Kingdom
Tel: +44 (0) 207 779 8601
Fax: +44 (0) 207 779 8599
legaltraining@euromoneytraining.com
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Timothy D H Jury
Timothy Jury is a chartered accountant, who qualified with KPMG. He has held main board financial and general management directorships in both quoted and private companies. He has considerable experience of management in turnaround situations and has completed a number of acquisitions, disposals and corporate reorganisations.
Having joined Piccadilly Radio plc, the UK’s second largest independent radio station, he handled all aspects of a Class 1 acquisition and was a main board director during the period of a contested bid for Piccadilly from Miss World plc. Following a corporate recovery assignment he joined a major UK consultancy specialising in training for financial services businesses. He spent over two years developing and presenting corporate credit training for a number of large UK banks. After a further corporate recovery assignment in the textiles industry he became a full time training and strategy consultant offering courses covering all aspects of corporate lending, financial analysis, especially cash flow analysis, accounting, valuation, corporate finance, M&A, strategy and management.
Timothy combines his lecturing career with consultancy assignments in the areas of strategy development, valuation modelling and corporate finance. In house training initiatives have been completed for both the credit and legal functions of Siemens Financial Services – Munich. Other in-house work has been completed for clients such as, Standard Chartered Bank - India, Societe Generale – London, the Brunei Investment Authority – Brunei, Ernst & Young - New York and Paris, and others. He has been involved in graduate and MBA training for London based investment banks such as Deutsche Bank and Barclays Capital. He was responsible for providing financial training for the London office of a substantial American law firm for many years.
Courses run by this instructor
Interested in holding this course in-house? Please fill out your details and a member of our team will be in touch with more information.
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The University of Oxford is the oldest university in the English-speaking world. For almost a thousand years, students, academics, professionals and scholars from every background and walk of life have come together there to learn from the best and the brightest.
Euromoney Legal Training now offers you the unique opportunity to come together with your colleagues and peers to be part of The Ultimate Learning Experience, at one of the most prestigious academic institutions in the world. Set in the beautiful town of Oxford, affectionately known as ‘the city of dreaming spires’, the Summer School will take place at St. Catherine’s College, one of the thirty-eight colleges that make up the University of Oxford.
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Many international commercial agreements are subject to English law. Often non-UK lawyers are faced with unfamiliar legal concepts and requirements. To overcome these hurdles and help lawyers become truly international, Euromoney Legal Training has created this practical and interactive training course.
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9-13 Jul 2012 (London, United Kingdom)
At this school Dr Ken Mildwaters, an acknowledged international expert with a wealth of experience in helping clients to formulate successful and effective business partnerships, will discuss with participants why parties come together in a cooperative endeavour to undertake a phase of a project, the legal forms they might use in so doing, the relationships created by the forms and the principle legal and commercial issues that affect those relationships.
15-16 Mar 2012 (London, United Kingdom)
10-11 Sep 2012 (London, United Kingdom)
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13-14 Mar 2012 (London, United Kingdom)
6-7 Sep 2012 (London, United Kingdom)
This highly interactive Euromoney Legal Training course is designed to give today's lawyer the drafting and writing techniques needed to operate effectively in today's competitive markets. It examines in detail competent writing in all forms of business communication and at all stages of drafting, negotiating and enforcing contracts.
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15-17 Jul 2012 (Dubai, United Arab Emirates)
This intensive three-day Euromoney Legal Training course is ideal for lawyers and others, who, whilst not working directly in functions requiring a detailed knowledge of finance, need to be familiar with the overall concepts and language used in financial analysis, credit transactions and other corporate finance activities.
13-15 May 2012 (Dubai, United Arab Emirates)
13-16 May 2012 (Dubai, United Arab Emirates)
A 3-4 day intensive and practical school is the perfect introduction or refresher on English Contract Law.
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Course dates