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FINANCIAL ACUMEN (CORPORATE FINANCE)



This course is developed based on Columbia Business School’s MBA Core Course B6300-001.

Every decision made by a business manager has financial implications. As businesses expand globally and markets become more volatile, it is essential that managers develop the financial acumen so that they can make astute financial decisions to deliver the greatest value to their stakeholders.

Not surprisingly, as managers rise up the corporate ladder, their performance is increasingly measured and rewarded based on the financial metrics they deliver. Managers have to invest the firm’s scarce resources wisely. To do so they need to have frameworks to evaluate multiple projects and select the best opportunities, balance the tension between growth and profits and optimize the risk-reward payoffs.



Course Highlights

39

Interactive Lectures

3

Real World Applications

12

Discussions

4

Case Studies

1

Final Exam



Syllabus

Pre-Work:

  • a) Read – Free Cash Flows

Frameworks:

a) Valuation Basics

b) Rate of Return, Future Value & Compounding

c) Time Value of Money:

  • Computronics Example
  • Net Present Value
  • Special Cash Flow Cases

d) Leveraged Buy Outs – Examples

Application:

a) Individual Assignment – Problem Set

Pre-Work:

a) Read – The Chocolate Cordon Rouge Case (Columbia Caseworks)

Frameworks:

a) Capital Budgeting:

  • NPV Rule
  • The Internal Rate of Return (IRR) Rule
  • The Payback Rule

b) Incremental Cash Flows

c) Chocolate Cordon Rouge – Case Debrief

Application:

a) Peer Learning Circle – Chocolate Cordon Case Discussion

Pre-Work:

a) Read – Free Cash Flows

Framework:

a) Corporate Valuation Methods: Example – Vandelay Industries

b) Equity Valuation Method

c) Firm Valuation Method – Using Free Cash Flows

d) Growth & Value

e) Market vs Book Values

Application:

a) Real-World Assignment:

  • Calculate the Free Cash Flows for Apple
  • Calculate Apple’s Cumulative Discounted Cash Flow

Pre-Work:

a) Read – Clarksons Lumber Case (Harvard Business School)

Framework:

a) Financial Ratios and Projections

b) Calculating Free Cash Flows

c) Residual Values

d) Non-Operating Assets

e) Value of Debt

f) Scenario Planning

Application:

a) Assignment: Project Free Cash Flow for Clarksons

Framework:

a) Risk & Return

b) Betas & Tiffany Example

c) Market Risk and Idiosyncratic Risk

d) Capital Asset Pricing Model

e) Discount Rate for Free Cash Flows

f) Valuation using Multiples

g) Commonly Used Multiples

Application:

a) Real World Assignment: Value Apple using Multiples

b) Peer Learning Circle:

  • What are your key takeaways?
  • Which concepts you can apply at your work?
  • If you were to have a conversation with your CFO, what questions would you ask to get a sense of your company’s valuation?

a) Final Examination

Benefits to the learner

Intellectual Capital
  • Global IVY Education
  • Rigorous and experiential curriculum
  • World-renowned faculty
  • Globally Connected Classroom: Peer to Peer Learning Circles
  • Action Learning: Learning by Doing
Brand Capital
  • Certificate from EMERITUS in collaboration with Columbia
    Business School
Social Capital
  • Build new networks through peer interaction
  • Benefit from diverse class profiles
Career Capital
  • Professional Acceleration through our enriched leadership toolkit
  • Learn while you earn
  • Get noticed. Get ahead.

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