Course dates
Course Overview
'Finance for Lawyers' course has been created by Euromoney Training to helps lawyers to gain a better understanding of corporate and capital market activity. The thorough and highly practical course provides you with the necessary tools, techniques and terminology to help you understand the financial issues that your clients have to face in their daily commercial activity.
This intensive three-day course will also teach you the essential elements of accounting. By the end of the course you will emerge better equipped to assess, analyze and understand a company's financial position.
Summary of course content
- Become familiar with modern financial analysis
- Understand the fundamental features of a profit and loss account, balance sheet and cash flow statements
- Review the essentials of ratio analysis
- Acquire an overview of global accounting in the new century
- Recognise common accounting abuses
- Use discounted cash flows and project analysis
- Understand different funding structures and the theory of leverage
- Use credit analysis
- Analyse economic and country risk analysis
- Learn the strategy/business risk analysis process
Methodology
The course is in the style of an intensive briefing about the world of finance with some case study material added. Delegates are required to carry out a fair amount of financial manipulation and are introduced to spreadsheets with two simple cases.
After each segment of teaching delegates are encouraged to apply the knowledge acquired by performing various case studies.
Who should attend this training course?
- Lawyers who need an understanding of the concepts and language used in financial analysis, corporate finance and credit transactions
- In-house and public practice lawyers whose work involves the financial services industry
- Lawyers exposed to corporate finance, M&A, project finance, loan documentation, private equity and other corporate activity
- Lawyers recently appointed to the Board/ Management team
- Non-legal professionals seeking an intensive briefing on financial terminology and explanations
Supporting publication
Day 1: Developing modern financial analysis skills
Introduction to financial analysis
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Identifying the relationship between cash flow and profit
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Development of an integrated cash flow model
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Understanding the relationships between the three main accounting statements
Exercise: accounting terminology
Fundamentals of accounting statements: the profit and loss account
- Inventory, depreciation, capitalised interest
- Exceptional and material items
- Detailed review of the profit and loss account including explanation of all significant accounting terminology
Fundamentals of accounting statements: the balance sheet
- The fixed assets note, consolidation, deferred tax, contingent liabilities and goodwill
- Review of the balance sheet including explanation of all significant accounting terminology
Financial analysis techniques: ratio analysis
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Objectives of ratio analysis
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Developing ratio analysis skills
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Defining the 12 key ratios
Case study: ratio calculation
Delegates calculate ratios for a leading UK retail group
Overview of global accounting in the new century
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The history of international accounting
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Current international accounting approaches
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The major issues in international accounting
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The implications of the IAS initiative
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Currently contentious accounting issues
Mini case: example of misleading P&L layout
Day 2: Cash flow analysis, accounting issues, and project analysis
Understanding cash flows
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Detailed review of the cash flow statement
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Analysing and interpreting cash flows
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Summarising cash flows for analysis
Case study: summarising cash flows
Delegates summarise cash flows for analysis purposes
Cash flow analysis
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
Accounting abuses and update
- Abuses of fair accounting
- Basic abuses relevant to all businesses
- More complex abuses relevant to larger groups
Case study: delegates identify numerous accounting abuses in a set of conglomerate accounts
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
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
Funding structures
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The relationship between business risk and financial risk
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The four phases of the corporate life-cycle
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Identifying appropriate funding structures
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Recognising the drivers of funding strategies
Credit analysis: the basic concepts
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Introducing credit analysis frameworks
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Financial analysis – review of the issues
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Non-financial analysis – developing a framework
Economic and country risk
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Understanding the indicators and signals
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Implications of macro-economic change for investors, banks and businesses
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The current economic crisis – why did it happen?
Overview of non-financial analysis
Exercises: strategy concepts multiple choice
Techniques for corporate assessment
Exercises: strategy evaluation techniques multiple choice
Mini case studies: strategy analysis
Mini case study: major airline strategy change
InterContinental Grand Stanford Hotel, Hong Kong, Hong Kong
This programme takes place on a non-residential basis at the InterContinental Grand Stanford Hotel. Non-residential course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.
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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.
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.
Course dates