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SCPS.NYU.EDU/FINANCE FINANCIAL ANALYSIS The credit crisis, the economic downturn, and stock market fluctuations reinforce the need for financial analysis to help companies maximize assets and find value for consumers and investors. Our courses provide the indepth training to assess the viability, stability, profitability, and liquidity of private business, public companies, and projects. Fundamentals of Corporate Finance FINA1-CE9140/$835 W Sec. 1: Mon. 6.30–9 p.m., May 23–July 25 (8 sessions). Robert K. Nagle, CFA, associate director, Moody’s Analytics. N Sec. 2: Thurs. 6.30–9 p.m., May 26–July 14 (8 sessions). M Sec. 3: Sat. 10 a.m.–2 p.m., June 11– July 16 (5 sessions). No class July 2. N Sec. 4: Wed. 6.30–9 p.m., June 15–Aug. 3 (8 sessions). Leonard Blum, managing partner, Westwood Capital, LLC. Learn to analyze methods of financing using internal and external funds. This introduction to corporate finance emphasizes the use of long-term debt, preferred stock, common stock, and convertibles in the financial structure of a corporation. Topics include financial management, corporate growth, business failures, return on investment, risk leverage, the time value of money, dividend policy, debt policy, and leasing. 2.0 CEU (24 50-minute hours) Techniques of Financing Corporations FINA1-CE9670/$825 N Sec. 1: Tues. 6.30–9 p.m., June 14–Aug. 2 (8 sessions). John Wamboldt, senior vice president–middle market lending, Capital One Bank. Understand the fundamental principles of corporate finance, concentrating on cash flow and the financing of each asset line of the balance sheet. Various forms of financing are discussed, including conventional term loan arrangements, asset-based lending, revolving credit lines, factoring, letters of credit, and long-term debt options. Finally, focus on what effect the various financing options may have on the potential success of a business and the market price of a corporation’s stock during this period. The bank/corporation relationship is also discussed. 2.0 CEU (24 50-minute hours) Faculty Learn from instructors who are leaders in their fields. For NYU-SCPS faculty bios, visit scps.nyu.edu/faculty. NEW Intermediate Corporate Finance FINA1-CE9145/$825 W Sec. 1: Sat. 11 a.m.–3 p.m., June 4– July 9 (5 sessions). Serge Wind, professor, DeVry University. Building on the concepts covered in Fundamentals of Corporate Finance, this course gives students a better understanding of the importance of value maximization in the finance world. Acquire the ability to assess decisions for their contribution to value maximization, setting the valuation of the firm as the overall goal. Topics include capital structure and the financing decision, the risks and costs of equity and debt, portfolio risk, hurdle rate determination, measuring returns in projects and the investment decision, valuation of the firm, hybrid financing, and mergers and acquisitions. Prerequisite: Fundamentals of Corporate Finance/FINA1-CE9140 or equivalent knowledge. 3.0 CEU (30 50-minute hours) Advanced Corporate Finance FINA1-CE9149/$825 W Sec. 1: Sat. 11 a.m.–3 p.m., July 16– Aug. 13 (5 sessions). Serge Wind, professor, DeVry University. Gain an understanding of corporate finance and financial management functions in this continuation of Fundamentals of Corporate Finance and Intermediate Corporate Finance. Topics include cash flow analysis and risk analysis, financial statement analysis, financial planning and forecasting financial statements, working capital management, lease financing, financial and real options, bankruptcy and liquidation, mergers and acquisitions, risk management and derivatives, and multinational financial management. Prerequisite: Fundamentals of Corporate Finance/FINA1-CE9140 or equivalent knowledge. Valuing a Business FINA1-CE9677/$750 N Sec. 1: Wed. 6.30–8.30 p.m., May 25– July 27 (10 sessions). Mark Lee, CFA, principal, Eisner, LLP; and Edward Impastato. Examine the fundamental methods employed in valuing a business. Major emphasis is placed on the discounted cash flow (DCF) method. Other methods explored include comparative market value, book value, the earnings approach, replacement value, liquidation value, and the factor approach. Finally, students analyze and evaluate a company of their choice by using the DCF approach and applying other appropriate valuation methods. Prerequisites: Fundamentals of Corporate Finance/FINA1-CE9140 and Financial Accounting: Part I/ACCT1-CE8101 or equivalent knowledge. 2.0 CEU (24 50-minute hours) Financial Modeling in Corporate Financial Analysis Using Excel FINA1-CE9675/$895 M Sec. 1: Thurs. 6.30–9 p.m., June 9–July 28 (8 sessions). Merav Ozair M Sec. 2: Sat. 9 a.m.–2 p.m., July 9–30 (4 sessions). In this lab-based course, gain expertise in the quantitative methods used by securities analysts to evaluate and value publicly traded securities. After a brief review of present value, accounting, and statistics, learn how to make investment decisions based upon present value and other quantitative techniques. Use Excel formats and layouts to create discounted cash flow and relative valuation models. Receive instruction against the backdrop of current market trends; financial news; and other factors that affect stock valuation, specifically, how the quantitative models interact with changes in security or market attributes. Students must have a general knowledge of finance and accounting, plus previous exposure to Excel. 2.0 CEU (24 50-minute hours) DERIVATIVE INSTRUMENTS Learn about the latest technical methods and expertise employed by analysts to evaluate securities and their derivative instruments. Principles of Financial Modeling FINA1-CE9685/$790 N Sec. 1: Wed. 6.30–8.45 p.m., May 25– July 20 (9 sessions). Andrew T. Long, venture capital consultant. W Sec. 2: Mon. 6.30–9 p.m., May 23–July 25 (8 sessions). David Gault, executive director, Brightwater Capital. Financial models are an integral part of nearly all major business decisions. The advent of spreadsheet tools, such as Excel, has greatly enhanced the modeler’s power. Paradoxically, such tools have often reduced the accuracy of the models produced. Increase your ability to analyze business problems and translate that analysis into financial models that are more flexible, more reliable, and ultimately, more useful. Students must have knowledge of basic accounting and finance. 2.0 CEU (24 50-minute hours) BANKING AND FINANCE Learn the corporate financing functions utilized inside banks and corporations, including capital markets, financial instruments, and decision models. The Business of Microfinance: An Advanced Course FINA1-CE9014/$495 N Sec. 1: Thurs. 6.30–8.45 p.m., June 2– July 28 (9 sessions). Dig beneath the public relations story of microfinance to analyze the more sophisticated mechanics of the industry. Assess the validity of claims that microfinance is “decoupled” from mainstream economic activities and dynamics; analyze the dangers of over-indebtedness; explore links to the international capital markets; and identify useful metrics for evaluating an institution’s success. Analyze the difference between micro and SME lending; discuss the recent development and adoption of social performance measurement tools; assess the usefulness of financial, operational, and social ratings; and explore the growth of an industry in developed countries such as the United States. Prerequisite: Microfinance/ FINA1-CE9603 or equivalent experience. Business Models for Social Entrepreneurship FINA1-CE9251/$750 N Sec. 1: Tues. 6.30–9 p.m., May 31–July 19 (8 sessions). Learn how to apply principles of business and finance to ameliorate social disadvantages. Develop knowledge of practical skills and examine case studies to gain a broad perspective of the creative ways in which these skill sets are being applied to improve society. Students present a group project to the class and demonstrate their knowledge in midterm and final exams. Financial Analysis in Visual Basic FINA1-CE9674/$895 M Sec. 1: Mon. 6.30–9 p.m., June 6–Aug. 1 (8 sessions). Address basic financial problems encountered in the workplace, ranging from options pricing to calculating the yield distribution of an investment opportunity. Designed for students with some financial knowledge who wish to move beyond the constraints of Excel, this course provides a deeper understanding of financial processes using the more versatile analysis language of the standard Excel application Visual Basic. Discuss problems and potential Visual Basic-based solutions. Explore the techniques underlying solutions, and learn to write Visual Basic routines from scratch. Prior knowledge of Visual Basic is not required. Students must have knowledge of basic financial and statistical principles. 2.0 CEU (24 50-minute hours) TO REGISTER: (212) 998-7150 FOR MORE INFORMATION: (212) 998-7200 4
SCPS.NYU.EDU/FINANCE CERTIFICATES IN FINANCIAL ANALYSIS The Certificates in Financial Analysis offer in-depth training in analytical methods used by financial analysts and managers in a variety of settings, including finance departments within corporations, investment firms, other financial services institutions, and consulting and professional services firms. Three professional certificates are offered to meet the needs of students who are new to the field, as well as professionals who wish to advance their expertise in a particular area of specialization. The Certificate in Financial Analysis is a foundation-focused program emphasizing core skills and competencies, which can be completed in nine months. Two Advanced Certificates offer specializations that build on the core curriculum of the Certificate in Financial Analysis. Upon completion of these certificate programs, students gain expertise in: • Profitability analysis, including calculation of price-earnings ratios. • Liquidity ratios, asset/productivity analysis, and capital structure/debt ratios. • Discounted cash flow (DCF) and other valuation techniques. • Using Excel spreadsheet modeling to forecast sales, earnings, and free cash flow. • Using Visual Basic programming to solve finance problems, including portfolio modeling. • Pricing options using the Black-Scholes formula. • Pricing fixed-income derivatives. Students must decide whether they wish to pursue the certificate in financial analysis or one of the advanced certificates since they may not receive both. An advanced certificate is earned by taking three courses in the area of specialization, in addition to the five courses required for the fundamental certificate. Students with minimal experience or formal training are advised to take Finance for Nonfinance Professionals/FINA1-CE9642 and/or Finance Math/Statistics: A Skill Enhancement and Review Course/FINA1-CE9151 either simultaneously or in advance of taking the first course in this program. CERTIFICATE IN FINANCIAL ANALYSIS It is recommended that the five required courses be taken in the order listed. Fundamentals of Corporate Finance/ FINA1-CE9140 (page 4) Financial Statement Analysis/ ACCT1-CE8105 Techniques of Financing Corporations/ FINA1-CE9670 (page 4) AND Intermediate Corporate Finance/ FINA1-CE9145 (page 4) OR Advanced Corporate Finance/ FINA1-CE9149 (page 4) AND Valuing a Business/ FINA1-CE9677 (page 4) OR Financial Modeling in Corporate Financial Analysis Using Excel/ FINA1-CE9675 (page 4) ADVANCED CERTIFICATE IN FINANCIAL ANALYSIS, DERIVATIVE INSTRUMENTS (Choose three) Derivatives Documentation/ FINA1-CE9215 (page 8) Financial Futures and Options in Risk Management/FINA1-CE9235 (page 9) Fixed Income Portfolio Management/ FINA1-CE9015 (page 13) Fixed-Income Securities/ FINA1-CE9104 (page 13) Fundamentals of Financial Risk Management/FINA1-CE9208 (page 7) Pricing Options/ FINA1-CE9246 (2011–2012) Principles of Financial Modeling/ FINA1-CE9685 (page 4) ADVANCED CERTIFICATE IN FINANCIAL ANALYSIS, BANKING AND FINANCE (Choose three) Advanced Financial Statement Analysis/ACCT1-CE8106 Business Models for Social Entrepreneurship/FINA1-CE9251 (page 4) The Business of Microfinance: An Advanced Course/FINA1-CE9014 (page 4) Financial Analysis in Visual Basic/ FINA1-CE9674 (page 4) Fixed Income Portfolio Management/ FINA1-CE9015 (page 13) Fundamentals of Portfolio Management/ FINA1-CE9001 (page 12) Mergers and Acquisitions: U.S. and Overseas/FINA1-CE9180 (page 11) Microfinance/FINA1-CE9603 (2011–2012) See page 14 for certificate requirements and benefits. FINANCIAL PLANNING The demand for sound financial advice from knowledgeable professionals has never been greater, and the public has a new awareness of Certified Financial Planner (CFP ® ) credentials. NYU-SCPS certificate programs in financial planning are registered with the Certified Financial Planner Board of Standards, Inc. Successful completion of the NYU-SCPS curriculum satisfies the educational requirements for eligibility to sit for the CFP® Certification Examination. NYU does not certify an individual to use the CFP, CERTIFIED FINANCIAL PLANNER , and CFP (with flame logo) ® marks. CFP certification is granted only by the CFP Board to those persons who, in addition to completing an educational requirement such as NYU’s CFP Board-Registered Programs, have met its ethics, experience, and examination requirements. Financial Planning Review Course FINA2-CS1000/$975 W Sec. 201: Wed. 12–5.30 p.m., Thurs. Fri. Sat. 8 a.m.–5.30 p.m., Sun. 8 a.m.–12.30 p.m., June 15–19 (5 sessions). This five-day review course is intended for students who have completed an educational program such as NYU’s Certificate in Financial Planning and intend to sit for the CFP® Certification Exam. It is also suitable for CPAs, attorneys, and others who are eligible for Challenge Status or qualify through the transcript review process.H FP 1: Fundamentals of Financial Planning FINA1-CE9940/$790 W Sec. 1: Mon. 6–9.20 p.m., May 23–Aug. 8 (10 sessions). David J. Novick, CFP, CHFC, certified financial planning professional/consultant, Prometheus Capital Management. N Sec. 2: Wed. 6–8.45 p.m., May 25–Aug. 10 (12 sessions). Stephen P. Wetzel, CFP, president, Prometheus Capital Management. Learn the fundamentals of financial planning in this prerequisite for the other courses in the financial planning program. Topics include financial planning functions, time value of money, economic and legal environments, financial analysis, and ethical and professional considerations. Students get practical experience utilizing data-gathering forms, constructing personal financial statements, budgeting, and dealing with regulatory requirements. Two classes are devoted to the use of the financial calculator. Students may take financial calculator workshops prior to or concurrent with this course. 4.0 CEU (40 50-minute hours) FP 2: Financial Planning Process and Insurance FINA1-CE9951/$790 N Sec. 1: Wed. 6–8.45 p.m., May 25–Aug. 10 (12 sessions). H. Michael Terreri, CLU, ARM small business planning and risk management consultant. Review basic financial planning principles and become familiar with the concepts of risk management. Topics include identifying risk exposures, legal aspects of insurance, insurance policy analysis, and employee benefits. Gain practical knowledge of the types of life insurance policies along with life insurance needs analysis, property and casualty insurance, medical and disability insurance, and Social Security benefits. Two classes are devoted to the use of the financial calculator. Fees for required study guides and the online final exam are not included in tuition. Required course booklets and online exams are purchased online at dalton-education.com. Click “Student Storefront,” enter NYU for “School” and nyucfp1 for “Password.” Textbooks may be purchased elsewhere. 4.0 CEU (40 50-minute hours) FP 3: Investment Planning FINA1-CE9959/$790 N Sec. 1: Wed. 6–8.45 p.m., May 25–Aug. 10 (12 sessions). Joseph Matthews, vice president, wealth management, Merrill Lynch. Learn how to assess a client’s risk tolerance level, tax situation, liquidity, and marketability requirements to determine appropriate investment vehicles. Topics include regulation of markets, investment vehicles, investment theory, financial markets, and modern portfolio theory. Two classes are devoted to the use of the financial calculator. Fees for required study guides and the online final exam are not included in tuition. Required course booklets and online exams are purchased online at dalton-education.com. Click “Student Storefront,” enter NYU for “School” and nyucfp1 for “Password.” Textbooks may be purchased elsewhere. 4.0 CEU (40 50-minute hours) Financial Calculator Proficiency Exam FINA1-CE9952/$50 Tests are administered throughout the semester. Call (212) 992-3400 or e-mail scps.fp.info@nyu.edu to schedule your exam. This exam is designed to test students on the use of the financial calculator. All students in the Certificate in Financial Planning program must pass a calculator proficiency examination with a minimum grade of 70 percent. The purpose of this exam is to ensure that students are able to apply the theory they have learned in their courses to solving practical financial problems in a timely manner. The exam includes problems related to time value of money, cash flow, standard deviation, growth rates and geometric averages, mortgage calculations, college funding, security valuation, basic statistic applications, and various other investment problems. Take the exam after completing FP1, FP2, and FP3. 5 WEB: SCPS.NYU.EDU E-MAIL: SCPSINFO@NYU.EDU
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