ECMA - Training and Examinations

Level I “Analytical View of Financial Statements and Building Cash Flow Statement”
Day		Date	Time	Topic	Description
One	Mon	7/11/05	6 –9:30pm	Balance Sheet. Assets, Liabilities and Shareholders Equity	General Look at the Balance Sheet. Nature and Types of Asset Accounts. Nature and Types of Liabilities Accounts. Nature and Types of Equity Accounts.
Two	Wed	9/11/05	6 –9:30pm	Income Statement (I/S) and Statement of Cash Flows (CFL).	General Look at the Income Statement. Income Statement Accounts. Calculating I/S Accounts. General Look at the Statement of CFL. Ways of presenting Statement of CFL. Statement of CFL: Sections & Details. Relationship between Financial Statements.
Three	Mon	14/11/05	6 –9:30pm	Income Statement and Statement of Cash Flows (continued).	Calculating & Reporting Sales, COGS and Inventory. How to Build the Statement of CFL. Example.
Four	Wed	16/11/05	6 –9:30pm	Comprehensive Example: Building Cash Flow Statement.	Example. Analytical View of Statement of CFL. Analytical View of Balance Sheet. Analytical View of Income Statement.

Intermediary Level “Calculating and Understanding Financial Ratios and using them for Analysis”
Day		Date	Time	Topic	Description
Five	Mon	21/11/05	6 – 9:30pm	Using Financial Statements to Calculate Financial Ratios.	Profitability Ratios. Asset Management Ratios. Capital Structure Ratios.
Six	Wed	23/11/05	6 – 9:30pm	Fundamental Analysis using Financial Ratios.	Importance of Financial Ratios. How to use Ratios to Analyze Performance.
Seven	Mon	28/11/05	6 – 9:30pm	Analyzing and Valuing Shares.	Analyzing Share Performance. Effect of Company Performance on Share Performance. Equity Valuation Techniques.
Eight	Wed	30/11/05	6 – 9:30pm	Example on Calculating Ratios.	Analyzing Performance using Ratios.

Advanced Level “Building Projections, Valuation Techniques and Issuing Recommendations”
Day		Date	Time	Topic	Description
Nine	Mon	5/12/05	6 – 9:30pm	Valuation using Comparables.	Earnings Multiple, When and How to use. Book Value Multiple, When and How to use. Sales Multiple, When and How to use. Benefits and Limitations to using Multiples.
Ten	Wed	7/12/05	6 – 9:30pm	Building Projected Financials.	Income Statement Projections. Balance Sheet Projections. Cash Flow Projections.
Eleven	Mon	12/12/05	6 – 9:30pm	Valuation using Discounted Cash Flows (DCF).	Calculating Free Cash Flows (FCF). Time Value of Money, Importance & Mechanics.
Twelve	Wed	14/12/05	6 – 9:30pm	Example: DCF Valuation.	Valuation and Sensitivity Analysis