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    Finance and Corporate Strategy

    ICCF@Columbia Business School

    International Certificate in Corporate Finance - Certificate co-issued by Columbia Business School Executive Education and First Finance Institute
    Register I download the brochure
    Next session : 23 September 2023
    Duration : 18 weeks
    Personal working time : 96h
    Net price :  $3750 - 3250€
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    Presentation

    Presentation

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    The International Certificate in Corporate Finance (ICCF) is rapidly becoming the benchmark certification in the field of corporate finance.

    Since 2014, more than 5500 current and aspiring financial professionals have pursued the ICCF certification.

    ICCF provides a baseline set of knowledge for students, employees and employers in the three key areas of Corporate Finance:

    • Financial Analysis
    • Valuation
    • Financial Decisions

    A series of three 6-week online courses brings the best research-based executive education to business leaders around the world. The program was built by thought leaders of theory and practice and has become the first truly global certification in corporate finance.

    Each course includes 4 weeks of theoretical learning and a 2 to 3 week major case study.

    The ICCF@Columbia Business School certification is awarded upon passing the 2-hour final exam. The exam may be taken in any Pearson VUE center around the world, in 150 countries.
    Objectives

    Objectives

    1. The goal of Financial Analysis is to diagnose the past in order to understand the present and try to predict the future. This course provides students with a clear, simple and effective methodology, enabling them to successfully complete financial analyses independently.
    2. The Corporate Valuation course presents the main methods and approaches. You will learn the nuances of these methods and approaches, and master an understanding for how they are applied to real-world situations.
    3. With a clear vision of a company’s financial health and of its valuation, you are now equipped to make Financial Decisions. This course presents the main concepts and operational tools in this domain, in order to make sound decisions or to give the proper advice: should this investment be made? How should it be funded?
    Highlights

    Highlights

    Access premium content while staying in control of your schedule

    Learn in an engaging and enjoyable virtual environment.

    • 100% online program with state of the art virtual campus (videos, quizzes, real-life case studies, live sessions)
    • Work-life compatible. Get certified in only 5 months, 3 – 5 hours a week

    Benefit from permanent support

    Exchange with teachers and learning coaches on our forum and once a week via live sessions. 

    Participate in physical or virtual meetings to prepare case studies. 

    Very detailed learning analytics that make you aware of your progress.

    Get a prestigious certification

    The certificate is delivered by one of the most prestigious business schools in the world and recognized by the largest banks and international companies.
    By validating the ICCF@Columbia Business School you will be also obtaining 2 additional credits towards the CIBE (Certificate in Business Excellence) delivered by Columbia Business School.

    Expand your network

    With 6,000 members, the First Education alumni community is a highly effective network enabling you to advance your career.

    Professors

    Scientific referent

    Shivaram RAJGOPAL
    ICCF@Columbia Business School

    Shivaram Rajgopal is Professor of Accounting and Auditing at Columbia Business School where he was Vice Dean of Research from 2017 to 2019.

    Daniel WOLFENZON
    ICCF@Columbia Business School

    Daniel Wolfenzon is the Stefan H. Robock Professor of Finance and Economics at Columbia Business School.

    Charles M. JONES
    ICCF@Columbia Business School

    Robert W. Lear Professor of Finance and Economics.

     

    Program
    3 onlines courses
    6 weeks each
    Next session :
    23 September 2023

    Prerequisites

    The e-learning assets and the textbook are available as soon as you register in the program. 

    They will allow you to learn or revise the following concepts:

    • P&L account
    • Cash-flow state

     

    Objectives

    ICCF@Columbia Business School comprises three 6-week Online Courses and three case studies:

    • Financial Analysis
    • Corporate Valuation
    • Investment & Funding Decisions

    The three courses and their case studies require approximately 96 hours of work, over the course of five months.

    The coursework prepares you for the ICCF final exam  which can be taken at any Pearson VUE center around the world.

    Pedagogy

    ICCF@Columbia is designed so as to allow executives to improve their skills without interrupting their career.

     

    1. New resources and assets are proposed every week.

    • Work at your own pace, see the videos as many time as you like.
    • Do the quizzes and ask (and answer!) questions in the forum, exchange with peers, teaching assistants and the faculty.
    • Meet the faculty once a week, in the virtual classroom.

     

    2. Put what you’ve learned in practice with Case Studies, at the end of each of the 3 courses. We do encourage work groups and exchanges between students.

     

    3. At the end of the three courses, prepare for the Final Exam. 120 questions that you have to answer in 120 minutes, at a Pearson VUE center of  your choice.

    Admission

    The program is open to all! There is no selection or conditions to fulfill. However, like any Columbia Business School program, it is demanding and will require you to invest some time and efforts.

     

    Beyond the designation-we are believers that “You will only get as much as you put in” to the program.

     

    Objectives

    The goal of Financial Analysis is to diagnose the past in order to understand the present and try to predict the future. The learning objective of this course is to provide students with a clear, simple and effective methodology, enabling them to successfully complete financial analyses independently.

    Faculty
    Professor Shivaram Rajgopal

    Week 1: Margins analysis

    Introduction to financial analysis:

    • Why perform financial analysis?
    • Common mistakes
    • Roadmap and structure
    • First part: Margins analysis
    • Concept
    • Added value
    Week 2: Investment analysis

    α. Acquisition of fixed assets

    • State of depreciation of fixed assets
    • Investment policy: state of depreciation of fixed assets vs. Capex

    β. Working capital requirements

    • Concept
    • Characteristics
    • Calculations
    Week 3: Analysis of financing

    α. Dynamic approach

    β. Static approach

    Week 4: Analysis of profitability

    α. Economic profitability

    • Concept
    • Measure

    β. Return on equity

    • Concept
    • Measure
    • Limits

    γ. Leverage

    • Concept
    • Measure
    • Conclusion

     

    Weeks 5 and 6: Case study

    You will be asked to solve a real case study:

    • The first part will require answering a quiz
    • The second part will require writing a short essay of around 500 or 600 words

    Objectives

    This course presents the main methods and approaches in corporate valuation. You will learn the nuances of these methods and approaches, and master an understanding for how they are applied to real-world situations.

    Faculty
    Professor Daniel Wolfenzon

    Week 1: Overview of the different methodologies

    α. Why value corporations?

    β. Two methods, two approaches

    • Direct approach, intrinsic method
    • Direct approach, relative method
    • Indirect approach, intrinsic method
    • Indirect approach, relative method
    Week 2: Multiples

    Selecting multiples

    • Application to case study
    • Average, median and regression
    • Which years to consider?
    Week 3: Discounting free cash-flow
    • Application to case study
    • Cost of capital
    • Common mistakes
    • From economic asset valuation to capital valuation
    Week 4: Further thoughts
    • Patrimonial methods
    • Opco and Propco methods
    • Caveat
    • Conclusion
    • Further thoughts
    Weeks 5 and 6: Case study

    You will be asked to solve a case of a public company by providing a valuation using the main methods and approaches learned in class during the 4 weeks of lectures, and to think about the fundamentals of the company’s value.

    Objectives

    With a clear vision of a company’s financial health and of its valuation, we are now equipped to make financial decisions.

    This course presents the main concepts and operational tools in this domain, in order to make sound decisions or to give the proper advice: should this investment be made? How should it be funded?

    Faculty
    Professor Charles Jones

    Week 1: Investment decision
    • Introduction
    • Investment decisions
    • Toolbox
    • Net Present Value
    • Internal Rate of Return
    • Payback
    • Others
    Week 2: Conceptual grounds to the investment decision
    • Traditional approach
    • Modigliani & Miller
    • Pecking order theory
    • Other approaches
    Week 3: How to choose a financial structure
    • Traditional approach
    • Main concepts
    • Choice factors
    • Accounting and financial criteria
    Week 4: The implementation of the funding policy
    • Debt structure
    • Covenants
    • Debt renegociation
    • Why keep cash?
    • Conclusion
    Weeks 5 and 6: Case study

    The case study will require answering a quiz.

    The 2-hour final exam comprises 120 questions. It can be taken in any Pearson VUE center around the world, in 150 countries.

    Conditions to obtain the certificate are as follows:

    • Active participation in all three courses;
    • Minimal grade of 50% on each case study;
    • Minimal grade of 500/800 on the final exam.

    The final grade is calculated as the weighted average of case studies grades (30%) and final exam grade (70%)

     

    Testimonials

    A certificate program that has proven its worth

    Ulrich Tambe
    BNP Paribas Corporate and Institutional Banking, Paris, France
    « It’s a great pleasure for me to announce that I’ve passed ICCF@Columbia Business School. I would like to thank all of the FFI teaching assistants and all the professors for their assistance during these courses. I strongly recommend the program to anyone who is willing to enhance their skills in Corporate Finance, particularly: Financial analysis, Corporate Valuation and Investment and funding decisions. »

    Assigned a score of :

    Sabrina Ritossa Fernandez
    Sycomore Asset Management, ESG Analyst, France
    « A very valuable experience. A balanced and time-efficient course on the practical and theoretical aspects of Corporate Finance. The exam demands time and effort which adds to the credibility of the certification. It provided me with tools and materials that I am still using in my analyst job. »

    Assigned a score of :

    Jaco Liebenberg
    Pricipal Specialist, Sasol Corporate Finance, South Africa
    « A more balanced and time-efficient short course on the practical and theoretical aspects of Corporate Finance would be hard to imagine. The high quality and well-structured content enabled quick learning of key concepts whilst the online delivery of all study materials allowed the workload to remain manageable, even with a busy professional life. »

    Assigned a score of :