Course 1 [10 CPE Points]
NVFM211 Financial Modelling for Project Finance using Microsoft Excel
Duration Three (3) hours SIDC Approved 10 CPE Points
Preview Click here for preview
Summary This is part one of the hands-on tutorial on financial modelling for project finance using Microsoft Excel. We build the cashflows statement starting from the assumptions page followed by the computations for revenues, capital expenditure, operating expenses, income tax and financing. The focus point of this course is the automated financing repayment schedule using Microsoft Visual Basic for Applications (VBA).
Course Outline 1.1 Layout of the assumptions and cashflow pages 1.2 Construction and operating flags 2.1-2.5 Compute revenues, capital expenditure, operating expense and income tax 2.6 Compute the size of sukuk (bonds) and equity 2.7 Compute the finance service reserve account and maintenance reserve account 3.1 Overview of finance service coverage ratio 3.2 Compute the finance service coverage ratios 4.1 Sukuk (bonds) pricing 4.2 Principal repayment for term facility and sukuk (bonds) 4.3-4.4 Sukuk (bonds) principal and profit payments 4.5 Circular reference 4.6 Dividends 4.7-4.8 Visual Basic for Applications (VBA) 5.1 Base case and stress case
Course 2 [10 CPE Points]
NVFM223 Complete Project Finance Modelling using Microsoft Excel
Duration Four (4) hours SIDC Approved 10 CPE Points
Preview Click here for preview
Summary This is part two of the hands-on tutorial on financial modelling for project finance using Microsoft Excel. We continue with the profit and loss statement and balance sheet and expand on the sukuk (bonds) tranching concept. The climax of this course is the automated sukuk (bonds) tranching computation – the first in the world!
Course Outline 1.1 Sections in the Assumptions page 1.2 Flags and other sections in the Cashflows page 2.1 Construction, revenue, expense and financing assumptions 2.2 Sources of information and reasonableness of the assumptions 3.1 Computations for cash inflows and cash outflows, debt and equity, and finance service reserve account 4.1 Significance of the profit and loss statement and balance sheet, and computation of retained profits 4.2 Depreciation, cash, borrowings and shareholders’ funds 4.3 Finance service coverage ratio and finance-to-equity ratio 5.1 Computation of dividends and shareholders’ cashflows 5.2 Discount rate, internal rate of return and net present value 6.1 Yield-to-maturity and price, spot and forward issuances, target investors, and term facility vs sukuk 6.2 Circular reference and automating the principal payment computation 6.3 Principal payment computation using Visual Basic for Applications (VBA) 7.1 Manual sukuk (bonds) tranching computation 7.2 Process of automating the tranching computation, sukuk trading lots, and discrete and continuous variables 7.3 Automated sukuk (bonds) tranching formulas
