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Financial Modeling and Valuation Course


The course extends the core theory introduced in Principles of Finance by emphasizing its practical application to strategic financial decisions and potential financial problems.


5 Days


  • Financial Analysis
  • Business Entrepreneurs
  • Accountants
  • Bookkeepers
  • Business managers
  • Investment officers
  • Managing directors


At the end of this IRES training course, you will learn:

  • Analyzing and understand an income statement
  • Analyzing and understand a balance sheet
  • Analyzing and understand a cash flow
  • Understanding use of financial modeling in financial reporting
  • Use of Discounted Cash Flow (DCF) and Weighted Average Cost of Capital
  • Use of excel in financial modelling


Module 1: Valuation

Introduction to valuation

  • The importance of valuation
  • Understanding enterprise value and equity value

Module 2 :Comparable Company Analysis

  • Selecting comparable companies
  • Spreading comparable companies
  • Analyzing the valuation multiples
  • Concluding and understanding value

Precedent Transactions Analysis

  • Selecting comparable transactions
  • Spreading comparable transactions

Discounted Cash Flow (DCF) analysis

  • Understanding unlevered free cash flow
  • Forecasting free cash flow
  • Forecasting terminal value
  • Present value and discounting
  • Understanding stub periods
  • Performing sensitivity analysis

Module3: Weighted Average Cost of Capital (WACC)

  • Using the CAPM to estimate the cost of equity
  • Estimating the cost of debt
  • Understanding and analyzing WACC

 Building an Integrated Cash Flow Model

Module 4: Introduction to financial modeling

  • Understanding the links between the financial statements
  • Understanding circularity
  • Setting up and formatting the model
  • Selecting model drivers and assumptions

Modeling and projecting the financial statements

  • Projecting the income statement
  • Projecting the balance sheet
  • Projecting the cash flow statement
  • Creating the debt and interest schedule
  • Revolver modeling

Module 5:Analyzing and concluding the model

  • Analyzing the output
  • Stress testing the model
  • Fixing modeling errors
  • Advanced modeling techniques
  • Using the model to create a Discounted Cash Flow (DCF) Analysis


The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.


Upon successful completion of this training, participants will be issued with an Indepth Research Services (IRES) certificate.


The training is residential and will be held at IRES training Centre. The course fee covers the course tuition, training materials, two break refreshments, lunch, and study visits.

All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.


Accommodation is arranged upon request. For reservations contact the Training Officer.

Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.   

Mob: +254 715 077 817

Tel: 020 211 3814


This training can also be customized for your institution upon request to a minimum of 4 participants. You can have it delivered in our training centre or at a convenient location.

For further inquiries, please contact us on Tel: +254715077817,+254 (020) 211 3814 or mail This email address is being protected from spambots. You need JavaScript enabled to view it.


Payment should be transferred to IRES account through bank on or before C.O.B 25th November 2019.

Send proof of payment to This email address is being protected from spambots. You need JavaScript enabled to view it.


Event Properties

Event Duration 5 Days
Event Date 02-12-2019
Event End Date 06-12-2019
Cut off date 25-11-2019
Individual Price(Kenyan) KES 69,000
Individual Price (International) EUR 790
Individual Price(International in Dollars) USD 920
Location Nairobi, Kenya
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