Euromoney Legal Training

Course overview:

The course provides a unique opportunity to develop the skills and knowledge necessary to compete successfully in today's competitive leasing market. It aims to provide the participants with a comprehensive and thorough overview of some of the key areas of leasing as a method of finance.

How this course will help you

The course will:

• Review the Time Value Money concept
• Examine pricing theories and put them into practice
• Understand lessor and lessee accounting
• Discuss taxation developments
• Evaluate the credit process
• Assess risk and asset management

Who should attend:

This course is designed to follow on from our highly popular "Fundamentals of Leasing" course, however anybody with some experience in the leasing industry can attend this course.

• Leasing executives/managers
• Risk managers
• Asset managers
• Sales personnel
• Financial managers
• Business development managers
• Equipment vendors
• Bankers involved in leasing
• Lessors
• Lessees
• Those involved in advising within the leasing industry

Day 1

Pricing and structuring

Module 1: introduction

• Workshop objectives
• Leasing framework
• Products
• Lessor objectives

Module 2: financial mathematics

• Comparing proposals
• Interest rates – flat, nominal, effective
• Time value of money – time lines and analysing cash flows
• Time lines and understanding cash flows
• Exercises on TVM
• Multiple cash flows
• Net present value and internal rate of return
• Exercises on structuring leases with DCF

Module 3: lease pricing

• Risks and lease evaluation
• Pricing with competition, required return and competition
• Risk analysis – sources of risk
• Cash flows and tax computation

Module 4: pricing practical

• Case study to examine lease proposals
• Calculation of pricing
• Structuring for credit, asset management (Using calculators or computer models)

Day 2

Accounting and client evaluation

Module 5: lessor and lessee accounting

• Lessee lease accounting
• Operating lease accounting
• Lease classification within UK and US GAAP
• IAS 17 and IFRS
• Key differences between standards
• Problems areas

Excercise: lease classification case

Module 6: taxation of leases

• Terminology and framework
• Tax computations
• Tax treatment for lessors
• Income recognition methods
• Taxation of lessees
• Recent developments

Module 7: lessee evaluation

• Equipment acquisition process
• Presenting the case for leasing
• Cash flows for lease and purchase
• Net present value for leasing and purchase
• Sensitivity analysis and the effect of changing variables

Excercise: lease factors

Module 8: accounting and evaluation

Case Study to include lease accounting, classification, lease versus purchase and presentation of client benefits. Participants to work in teams and present their findings

Day 3

Documentation, risk, and management issues

Module 9: documentation

• Required lease documentation
• Facility and offer letters
• Equipment acquisition documents
• Lease agreement and key clauses
• Security and other documents

Module 10: asset management

• Identification of asset management risks
• Types of equipment
• Asset management process and equipment scoring
• Settlement and exposure analysis
• Exercise on exposure analysis

Module 11: lease management

• Problem cases
• Portfolio issues
• Fraud
• Recognising problem cases

Exercise: lease management case

Module 12: complete case study

Case study to include pricing, structuring, documentation, asset management and other issues

Module 13: conclusion

• Alastair Day

  Alastair is a finance professional with extensive experience of business analysis systems, accounting, funding and treasury activities.
  
  As a Director of Technology Group Limited, he was responsible for establishing the treasury function and modelled large transactions for evaluation and lease portfolio acquisition. As an alternative to flotation, the directors subsequently sold the company to a public financial services group.
  He has conducted a range of modelling and consulting assignments producing models for financial analysis, valuation, mergers, buyouts, projects and data analysis. In addition, Alastair works as a consultant with Euromoney Training in Europe, Asia, Middle East, Africa and America, designing and delivering courses covering financial modelling from general modelling to specific valuation, leasing and other courses.
  
  Alastair has a degree in German and Economics from London University and an MBA from the Open University Business School. He is an associate lecturer at the Open University Business School and has written a number of books and publications.

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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