Claiming Back Your VAT

All attendees of a London based course incur VAT as a part of the cost of attendance.

Euromoney Learning have partnered with VAT IT to allow you the unique opportunity to recoup the VAT incurred.

Using VAT IT's extensive experience and simple sign-up and refund process, every invoice can be turned into cash for your business.


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Why choose VAT IT 

VAT IT have spent two decades identifying, researching and perfecting the foreign VAT Reclaim process and built the best back end technology in the industry. By partnering with Euromoney Learning, we can provide you with a fast and effective way to reclaim your VAT which helps reduce the cost of your training.

VAT IT will charge a percentage of the VAT refund if/when it is successful. 


Can I claim back the VAT myself?

You can claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.

 

You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

Course details

Dates are currently being finalised. Get in touch to find out more
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Financial Statement & Business Analysis

Understand the building blocks of financial analysis for corporate valuation
  • The Financial Statement & Business Analysis course forms Module 1 of the Corporate Analysis & Valuation School.

    This practical two-day course explores the three main types of financial analysis for valuation - income statement analysis, cashflow analysis, and balance sheet analysis – equipping you with the skills needed to analyse underlying performance and calculate key financial ratios.

     

    You will also discuss the new IFRS accounting standards and examine various accounting tricks that are used to enhance profitability and operating cashflow.

     

    By the end of the course, you will have a thorough understanding of the following:

     

    • How to analyse a firm’s financial statements when undertaking corporate valuations, including how to derive underlying earnings and cashflow
    • Ratio analysis, including profitability, performance, leverage, liquidity, returns to firm and equity
    • The impact on valuation of debt, financial assets, quasi-debt, provisions, deferred taxes, off balance sheet liabilities and other factors

    The subsequent three-day training course, Corporate Valuation Techniques & Modelling, which is Module 2 of the Corporate Analysis & Valuation School will proceed to cover the following:

     

    • Valuation fundamentals Equity and EV multiple valuations DCF valuations
    • Applying different valuation techniques and forecasting using Excel
    • The impact of capital structure on valuation
    • The impact of corporate finance transactions on valuation
    • How qualitative factors influence valuations
    • More advanced DCF techniques
    • The impact of capital structure on valuation
    • The impact of corporate finance transactions on valuation, including LBOs

    • Specific valuations eg. high growth, cyclical and distressed companies

     

     

    Note - A good level of spoken and written English is required to attend this course. Delegates should be of an intermediate standard in English at a minimum. Please refer to the Common European Framework of Reference for Languages - as a guide the level required is B2. 

  • Day 1

    Financial analysis for valuation

    Income statement analysis

    • Cleaning up the reported results to derive underlying performance
    • Adjusting for exceptional and non-core items – restructuring, provisions, impairments, discontinued items, MTM of financial assets and liabilities, disposal gains/losses, employee benefits (IAS 19), business combinations (IFRS 3), leases (IAS 17), customer loyalty programmes (IFRIC 13)
    • How failing to calculate the correct underlying earnings figure will materially distort your valuation
    • Revenues and earnings – sources, sustainability, growth outlook, main risk factors
    • The nature of the cost base including sources of volatility (commodity prices, currency, regulation, interest rates, tax rates and other risk factors)
    • The impact of hedging (currency, interest rate, commodity)
    • The impact of joint ventures, associates and NCI
    • Calculating key financial ratios from the income statement; calculating performance ratios

     

    Cashflow analysis
    • Analysing the cashflow profile of the firm
    • What are the main risks to the cashflow?
    • What are the main sources and uses of cash?
    • Are new investments adding value?
    • Are earnings converted into operating cashflow?
    • The impact of net working capital changes and capital spending
    • What is the potential for paying dividends and for share buybacks?
    • Calculating key financial ratios from the cashflow statement

     

    Day 2

    Balance sheet analysis

    • The nature of the asset base: PP&E, intangibles, financial assets, joint ventures and investments
    • Understanding the firm’s capital intensity and operating leverage
    • Consolidation policies – is there any value in off balance sheet entities?
    • What to include in gross debt
    • What to include in net debt
    • Valuation adjustments for derivative assets and liabilities, operating leases, contingent liabilities, and other off balance sheet liabilities
    • Valuation adjustments for NWC, deferred taxes, pension deficits, provisions
    • What is the outlook for impairments or revaluations?
    • Is the book value of equity important to the valuation?
    • What is the impact of credit metrics (leverage, interest cover, interest rates, liquidity, covenant breaches) on valuation?
    • Calculating key balance sheet ratios to assess a firm’s financial position relative to its sector

     

    Other topics

    • Overview of major new IFRS accounting standards (IFRS 9, 15, 16)
    • Accounting tricks to enhance profitability and operating cashflow

     

    Overview of a forecasting model for valuation

    • Creation of key value drivers, including macro-economic and company specific
    • Building up the income statement and balance sheet
    • Deriving the cashflow statement
    • Deriving cash available for distributions
    • Dealing with circularity
    • Scenario analysis
    • Return analysis

     

  • Our Tailored Learning Offering

    Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course and dramatically increase your ROI.

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
    • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Sarah Martin

    Banks and other financial institutions can lose billions of dollars annually due to their failure to analyse and anticipate risks correctly. That's where my training course comes in.

    Biography

    Former Executive Director of CSFB and Lehman Brothers, the Course Director has spent seventeen years working as an investment banker in Europe and the US. She has principally worked in the credit markets and has experience of the US and European high grade and high yield markets, the European new issue markets, the Asian convertible bond markets and of corporate restructurings of distressed credits. She specialised in the telecoms sector and was closely involved in the structuring, raising and/or trading of bank and public debt for telecoms companies in many countries, including Europe, South Africa, Asia and Latin America. She also has extensive experience of corporate finance transactions, including mergers, disposals, privatisations, IPOs and capital raisings. Until 2003, she was an Executive Director at Lehman Brothers in Fixed Income Research in London, having also worked for CS First Boston and Kleinwort Benson. She now works on an independent basis advising the legal and private equity professions on credit analysis and company valuation. She has a degree in economics from the London School of Economics and stock exchange qualifications from London and New York.

Venue

Dubai

This programme takes place on a non-residential basis at a central Dubai hotel. Non-residential course fees include training facilities, documentation, lunches and refreshments for the duration of the programme. Delegates are responsible for arranging their own accommodation, however, a list of convenient hotels (many at specially negotiated rates) is available upon registration.

Dubai has an incredible number of hotels. Courses held here are mainly held at the:

Nassima Royal Hotel
Plot 49 Sheikh Zayed Road, Trade Centre District Dubai, United Arab Emirates
http://nassimaroyalhotel.com

Nassima Royal Hotel is a modern, stylish, luxury hotel on Sheikh Zayed Road. Towering at 51 stories, the hotel offers stunning views over Dubai and its iconic landmarks.

You can also view other recommended hotels on this map: