Stage 2: Mastering Financial Management

Building on the basic principles taught in Stage 1, Stage 2 covers advanced corporate finance items (Valuation of Companies, Mergers and Acquisitions, International Financial Management) as well as related fields and tools essential for financial managers (Management Control Systems, Ethics, Professional Standards, Corporate Governance).


Mergers and Acquisitions and Company Valuation

  • Company Valuation Techniques and Their Limitations: Book Value Approach, Multiples (Comparable Companies and Transactions), Discounted Cash Flows
  • Valuation of Preferred Stock And Of Convertible Bonds
  • M&A: Regulations, Expected Gains and Risks, Takeover Process, Exchange Ratios

Management Control Systems

  • Cost Calculation and Analysis.
  • Budgeting and Planning Process.
  • Reporting and Variance Analysis
  • Performance Measurement and Management

International Financial Management

  • The International Environment and Foreign Exchange Markets
  • International Capital Markets.
  • Foreign Exchange Risks
  • Transaction Risk Management
  • International Investment
  • Hedging Techniques

Ethics, Professional Standards and Corporate Governance

  • Distinction between what is Legally Acceptable and Morally Correct
  • Codes of Professional Conduct in the Financial Sector
  • Sources and Consequences of Conflicts of Interest between Managers, Stockholders and other Stakeholders
  • Recommended Professional Practices in Corporate Governance
  • Main Issues in Corporate Governance : Role and Organization of the Board, Management Pay, Transparency...