One curriculum to advance your career.
We have a curriculum that will help you develop the key skills you need to succeed in finance.
We developed our curriculum based on how work is done at the world’s top investment banks, private equity firms and hedge funds. We spent many years working at these firms and distilled everything we learned into a single curriculum to supercharge your career.
Conceptually, you’ll learn all the major topics in finance: Accounting, Valuation, Capital Structure, Transactions (M&A, LBO, etc), and Capital Markets. Practically, you’ll learn how to build dynamic and sophisticated financial models like how we do it on Wall Street.
We Emphasize Logical Flow
Many job candidates for investment banking, private equity, hedge fund, corporate finance and other finance jobs try to memorize the answers to the common interview technical questions. Naturally, they struggle when the interviewers alter the questions a bit or throw them a curveball. Their answers are built on a weak technical foundation that could easily crumble and interviewers see right through it.
That’s why we emphasize logical flow in our curriculum. Once you understand the logic behind all the formulas and jargons, finance will make natural sense to you. You’ll be able to think through problems on the spot, which is a lot more impressive. No other institution’s curriculum is as good at showing you the logical flow behind finance as ours. Not even Harvard Business School.
Learn Financial Modeling
As we progress through our courses, we’ll teach you how to build beautiful, dynamic and effective financial models using best practices as they’re taught to us during our Investment Banking Analyst days at Goldman Sachs. We’ll start simple and build up to more complex maneuvers in Excel as we progress.
Revenue Model
Revenue is known as the “top-line” and it drives the rest of the financials. In our courses, we teach you to think about revenue and analyze it in terms of key drivers, which is how it’s done at the top private equity firms and hedge funds.
Operating Model
The operating model serves as the backbone on which you can layer on valuation and/or transaction models, such as DCF, M&A and LBO. Whether you’re working on the sellside or the buyside or in corporate, you’ll need to know how to analyze a company’s operating performance and model it. We’ll teach you how to build an operating model with GAAP and non-GAAP financials.
Case Drivers
Learn how to efficiently build case drivers to reflect financials under different possible scenarios. You’ll be able to flex different scenarios at the click of a button. This becomes particularly relevant when analyzing a company’s performance under different potential outcomes.
Our Course Catalog
1
Stock Basics
This course goes over important stock basics and establishes the context for the investment analysis we’ll learn in the subsequent courses.
✓ What is a Stock
✓ Share Repurchase
✓ Investing Strategy
✓ Shareholder Rights
✓ Common vs Preferred
✓ Shareholder Return
2
Investor Resources
This course goes over the investor resources that we’ll utilize to analyze companies and stocks and where to find them.
✓ SEC
✓ Earnings Calls
✓ 10-K / 10-Q / 8-K / S-1
✓ Investor Presentations
✓ Investor Relations
✓ Equity Research
3
Corporate Valuation
Corporate Valuation is the cornerstone of financial analysis. It’s the framework that quantifies what a company is worth.
✓ Valuation Framework
✓ Dilutive Securities
✓ Enterprise Value
✓ TSM
✓ Equity Value
✓ Price vs. Value
4
Revenue Model
Revenue Model relates to how businesses generate revenue. We’ll learn how companies recognize revenue and how to analyze it.
✓ Revenue Recognition
✓ Avg. Selling Price
✓ Revenue Streams
✓ Product Mix
✓ Revenue Drivers
✓ Forecasting Revenue
5
Cost Structure
Cost Structure refers to the composition of the different types and characteristics of the expenses incurred by a company.
✓ Expense Recognition
✓ Cost Ratios
✓ Cost Characteristics
✓ Cost Drivers
✓ Common Cost Lines
✓ Forecasting Cost
6
Earnings Power
Earnings Power refers to the business’s ability to generate profits. We’ll learn the different measures of profits and what they represent.
✓ GAAP vs. non-GAAP
✓ Profit Metrics
✓ Paper vs. Cash
✓ Profit Margins
✓ Earnings Dynamics
✓ Forecasting Earnings
7
Cash Flow
Cash Flow is the movement of cash into and out of the company. A company’s value is based on how much cash flow it can generate.
✓ Cash Flow Statement
✓ Cash Flow Ratios
✓ Common Line Items
✓ FCF and Valuation
✓ Free Cash Flow
✓ Modeling Cash Flow
8
Intrinsic Valuation
Intrinsic Valuation is the process of determining the intrinsic value of a company by analyzing how much cash it will generate.
✓ DCF Analysis
✓ Mid-Year Convention
✓ Time Value of Money
✓ Terminal Value
✓ WACC
✓ Circular Reference
9
Risk Reward
Risk Reward relates to the evaluation of the potential for gains and losses of an investment opportunity.
✓ Total Return
✓ Different Risks
✓ IRR
✓ Diversification
✓ MOIC
✓ Modeling Returns
10
Balance Sheet
Balance Sheet is one of the 3 major financial statements. It shows what the company owns and what it owes.
✓ Accounting Equation
✓ Assets
✓ Organization
✓ Liabilities
✓ Common Lines
✓ Shareholder’s Equity
11
Working Capital
Working Capital is an important element of every business and it appears on both the Balance Sheet and the Cash Flow Statement.
✓ Operating Assets
✓ Current Ratio
✓ Operating Liabilities
✓ Quick Ratio
✓ Impact on Cash Flow
✓ Efficiency Ratios
12
Integrated Financial Statements
This course explores how the Income Statement, Cash Flow Statement, and the Balance Sheet are interlinked.
✓ How three financial statements are interlinked
✓ How to think through financials methodically
✓ Amazon Case Study
13
Valuation Multiples
Valuation Multiples are ratios that measure how many times or “turns” investors are willing to pay for every dollar the company earns.
✓ EV / EBITDA
✓ How to Use Multiples
✓ P/E
✓ Impact of Time
✓ Trailing vs. Forward
✓ Drivers of Multiples
14
Buyout
A Buyout is the purchase of all or substantially all of a company and obtaining control over it through the process.
✓ Offer Premium
✓ Projecting LFCF
✓ Purchase Price
✓ Entry / Exit Multiple
✓ Sources & Uses
✓ Returns Analysis
15
Capital Structure
Capital Structure refers to the composition of debt and equity in a company. Debt and equity are capital that finance every company.
✓ Revolver
✓ Mezzanine
✓ Term Loan
✓ Credit Terms
✓ Bond
✓ Debt Covenants
16
Leveraged Buyout
Leveraged Buyout (LBO) is the purchase of all or substantially all of a company using a large amount of debt.
✓ How LBO Works
✓ Debt Schedule
✓ Why Use Leverage
✓ Drivers of IRR
✓ Capitalization Table
✓ Modeling Returns
17
Mergers & Acquisitions
Mergers & Acquisitions (M&A) plays a critical role in finance. It’s the subject of companies buying and selling other companies.
✓ Buyside vs. Sellside
✓ Acquisition Currencies
✓ Sponsor vs. Strategic
✓ Pro Forma Financials
✓ Strategic Rationale
✓ Accretion / Dilution
18
3-Statement Modeling
This is a financial modeling course where we will learn how to build a full-blown 3-statement operating model.
✓ How to model full 3 financial statements
✓ How to model working capital schedule
✓ How to project uncommon line items