RNCP Expert in Financial Analysis

The analysis of the consolidated financial statements allows for the diagnosis of the financial situation of a group based on the determination of its strengths and weaknesses: study of profitability, risks and quality of management. In this perspective, the learner will produce, from simple cases, the consolidated balance sheet and income statement of a company. It will be able to determine the method and scope of consolidation and the level of control. The mastery of IFRS standards within the financial statements will be particularly developed (balance sheet, income statement, cash flow statement, statement of changes in equity)

This course will present the main methods of business valuation: asset-based method, mixed method (CPNE and discounted goodwill), analogical method, discounted free cash flow method. At the end of the course, the learner must be able, according to the circumstances of the company studied, to criticize the various possible methods of evaluation in order to implement the most relevant one. The particular case of the evaluation of a startup will be discussed.

This module is designed to familiarize participants with International Accounting Standards by giving them a first approach to US GAAP and IFRS (International Financial Reporting Standards). The objective of this course is the appropriation of the main differences between the Anglo-Saxon standards (US GAAPs and IFRSs) and the French standards as well as the identification of the scope of application (legal and conventional criteria) and the practical applications of these standards in the daily activity of French companies.

Mastering the financial diagnosis of companies as well as the measurement of value creation are essential elements of this training. At the end of this course, students should be able to write an analysis report on a company. Different topics will be covered during the sessions such as financial analysis (of the activity, assets, restatement, ratios), but also analysis of margins, investments and financing. Participants will learn how to measure profitability (capital employed, leverage) as well as how to measure value creation.

The objective of this course is to master the main mechanisms of Mergers & Acquisitions (M&A) operations by explaining the main steps of these operations. Learners will be led to appropriate the terms used in practice (SPA, GAP, NDA, LOI, closing, signing, etc.) but also to understand the documents established by the main protagonists of this type of operation. All the stages of a merger and acquisition operation will be detailed, whether it be the pre-contractual phase or the negotiation phase (conditions precedent, asset and liability guarantees, deed of reiteration, etc.). A focus will also be placed on the other forms of M&A operations (merger, partial contribution of assets, spin-off).

Participants will learn how to understand a company’s financial structure and analyze its Working Capital Requirement (WCR). The latter is an indicator that makes it possible to evaluate the financing needs of a company by taking into consideration the gap between current assets and liabilities. On this basis, learners will be able to make the link between a company’s WCR and the various short-term financing solutions, but also to make the link between a financing plan and the various medium- and long-term bank loans (form, duration, guarantee, etc.).

The students will discover a case of financial engineering through an LBO set-up using cross-disciplinary skills (financial, legal and tax). The LBO, Leveraged Buy-Out, is an acquisition financing by debt. The challenge is to understand the role of financial engineering in the strategic operations of companies.

This course will develop the diversity of the sources of financing within a company (increase or reduction of capital, current accounts of associates, APE, etc.) as well as the legal and fiscal rules specific to each operation. The module will focus on the problems of restructuring (mergers, demergers, partial contributions of assets) as well as on the transfer of companies (transfer of shares and businesses). At the end of this course, the learner will know the different aspects of the law of financing by equity, debt, quasi-equity, receivables financing, etc.

Through the practical study of a few cases, this module addresses the issues of governance and Corporate Social Responsibility (CSR) for companies of all sizes. In this context, mastering the company’s financial communication is of strategic importance. The finance department must develop reporting documents and visual elements to present financial data in a way that is adapted to the target audience (managers, shareholders, employees, customers, etc.). This lesson will show the existing interactions between CSR and financial communication with the implementation of internal financial reporting.

This course allows the understanding of the tax stakes but also of the legal operations carried out by the companies in order to build adapted schemes by approaching the regime of the capital gains or the passage of the accounting result to the tax result.
Learners will develop new knowledge and skills that will enable them to master the concepts of tax engineering as well as to understand the taxation of financial engineering schemes. A focus will be made on the impact of the legal form of the company on the taxation of its results.