ICCF@HEC Paris, International Certificate in Corporate Finance

Duration : 18 weeks
Net price : 2650 €
French
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Presentation

In many functions, mastering the fundamentals of corporate finance becomes inevitable. The International Certificate in Corporate Finance (ICCF) is the international reference certificate in corporate finance, issued in French, English, Chinese and Spanish.

 

This online training course, delivered in its French version by HEC Paris and FIRST FINANCE Institute, allows you to acquire the keys to finance at your own pace. It is inspired by the MOOCs’ pedagogy and is designed to meet the needs of a wide audience concerned by the financial decisions of a company, from an internal or external point of view, for understanding and action.

 

The ICCF@HEC Paris, in its French version, has already won over more than 4,000 people. It is moderated by Pascal Quiry, professor at HEC Paris, co-author of the reference book Vernimmen-Finance d’entreprise and former managing director at BNP Paribas.

 

This innovative programme, delivered online, is aimed at executives in banks and financial institutions, corporate financial managers, managing directors, entrepreneurs and business leaders, chartered accountants and lawyers.

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About the certificate

Objectives of this Executive Online Certificate

ICCF@HEC Paris allows you to acquire 3 fundamental skills in corporate finance:

  • Financial Analysis
  • Corporate Valuation
  • Investment & Funding Decisions

 

After validation of the 3 case studies and the final exam, you obtain an Executive Online Certificate issued by HEC Paris that you can share on your Linkedin profile. You join a very active alumni community, with 4000 certified alumni.

Benefits

The strengths of the certificate

Access premium content while staying in control of your schedule.

Discover videos of courses, quizzes, case studies, masterclasses accessible online on a very user-friendly platform. These courses will require 3 to 5 hours of personal work per week.

Benefit from permanent support

Exchanges with teachers and learning coaches continuously via the forum and once a week via webinars. Organisation of physical or virtual meetings to prepare case studies.
Very detailed learning analytics that make you aware of your strengths and weaknesses.

Get prestigious certification

Delivered by a prestigious business school recognized by the largest banks and international companies, after validation of your skills acquired through the 3 case studies and a 2-hour final exam that you can take anywhere in the world, in a Pearson Vue centre.

Build your network

With 7,000 members, the alumni community is a very effective network to accelerate your career.

Professors

Scientific referent of this Certificate

Program
A program for assured progression

Program Introduction

The program consists of three seven-week courses followed by a final exam :

  • Module 1 Financial Analysis
    Analyze and interpret the company’s financial documents in order to make a relevant diagnosis of its financial situation.
  • Module 2 Company valuation
    Understand and compare valuation methods to rebuild the value of the company
  • Module 3 Investment and Financing Choices
    Master the investment and financing decision-making tools to make financial policy recommendations

 

The first weeks of each course (4 to 5 weeks) are dedicated to the study of teaching resources. Each week :

  • 4 to 6 course videos, each about 10 minutes long, are put online with the possibility of viewing them at your own pace, throughout the course.

Application exercises and quizzes allow you to validate your understanding of the course.

During “live sessions”, the teacher exchanges live with the participants and answers the questions asked.

The last weeks of each course allow the consolidation of the acquired knowledge through a synthesis case study, which counts towards the certificate.

The collaborative dimension of the programme is important: through the forum and the “live” meetings, participants exchange ideas and receive answers to their questions and advice. Courses, resources and educational activities are accessible, anytime and anywhere, from the learning platform.

Objectives

The objectives of financial analysis are to diagnose the past in order to understand the present and try to predict the future. The objective of this first course is to provide a clear, simple and effective methodology to carry out financial analysis independently and to make relevant diagnoses on the financial situation of companies.

Faculty
Pascal Quiry

Prerequisite

The e-learning resources and the textbook are made available as soon as you register for the program. They will allow you to review the notions of :

  • profit and loss account
  • cash flows
  • economic asset
Week 1: Margin Analysis or Wealth Creation

Introduction to Financial Analysis :

  • Why Conduct Financial Analysis?
  • What mistakes should be avoided?
  • What is a typical financial analysis plan?
  • Part One: Margin Analysis or Wealth Creation
Week 2: Investment Analysis

a. Acquisitions of fixed assets

  • Degree of obsolescence of fixed assets; investment policy.

b. Working capital requirements

  • Concept
  • Main characteristics
  • Measure
Week 3: Analysis of funding

a. In a dynamic approach
b. In a static approach

Week 4: The Business Case

a. Economic profitability

  • Concept
  • Measure

b. Return on equity

  • Concept
  • Measure
  • Limitations

c. Leverage

  • Concept
  • Measure
  • Conclusion
Weeks 4, 5 and 6: Case Study

The case of a company dealt with by :

  • A questionnaire
  • A summary note of 500 to 600 words.

Objectives

The objective of this course is to present the main methods of business valuation, the complexities involved, how they can be combined and what their possibly different results tell us about the company’s situation.

Faculty
Pascal Quiry

Prerequisite

It is necessary to master the notions of capitalisation, discounted cash flow and net present value, which are covered here by e-learning modules (in English) and the textbook (in French).

Week 1: General overview of valuation methods

a. Why are business valuations done?

b. Two methods, two approaches

  • Direct approach, intrinsic method
  • Direct approach, relative method
  • Indirect approach, intrinsic method
  • Indirect approach, relative method
Week 2: The multiples method
  • The determination of multiples
  • Application to the case
  • Mean multiple, median, regression?
  • Which years and which net results?
Week 3: Discounted cash flow valuation
  • Application to the case
  • Calculation of the cost of capital
  • Mistakes to avoid
  • From the value of the economic asset to the value of the shareholders’ equity
Week 4: Elements of In-Depth Study
  • Legacy Methods
  • Opco and Propco methods
  • Two essential safeguards
  • Conclusion on the case
  • Some reflections on business valuation
Weeks 4, 5 and 6: Case Study

Study of a real case of a listed company for which you will be led to produce a valuation by implementing the main methods and approaches seen during the 4 weeks of the course and to reflect on the fundamentals.

Objectives

Now that you have a clear vision of the company’s situation and its value, thanks to financial analysis and evaluation, you are equipped to participate in financial decision-making within the company.

This course will introduce you to the main concepts, thinking and operational tools in these areas. It will allow you to think soundly on these subjects, to have the elements in hand to make the right decisions or to be good advisors.

Faculty
Pascal Quiry

Prerequisite

It is necessary to know about hybrid debt instruments, bonds and securities. If necessary, you will familiarize yourself with these instruments thanks to the e-learning modules (in English) and the textbook (in French).

Week 1: The investment choice

Introduction

  • The choice of investment
  • Tools for choosing an investment
  • Net present value
  • Internal rate of return
  • Recovery time
  • Others
  • Concept, interest, lack of these tools
Week 2: Conceptual Foundations of Funding Choice
  • The traditional approach
  • The approaches of Modigliani-Miller
  • The theory of pecking order
  • Other approaches
Week 3: How to choose your financial structure?
  • The traditional approach
  • The main concepts
  • Factors of choice
  • Accounting and financial criteria
Week 4: Implementation of the debt policy
  • Debt structure
  • The covenants
  • Renegotiating your debt
  • Why keep cash on hand?
  • The levers of a good debt policy
  • Conclusion
Week 4, 5 and 6: Case Study

Presentation of the exam

The final exam is a two-hour MCQ with 120 questions. Candidates take it in more than 150 countries, at a Pearson Vue centre, within two months of completing the Investment and Financing Choices course.

The conditions for obtaining the ICCF® @ HEC Paris certificate are as follows:

  • Active participation in the three courses constituting the academic program;
  • Obtaining a minimum average grade of 10/20 in each case study;
  • Obtaining a minimum mark of 500/800 on the ICCF® exam.

The final grade is composed of 30% of the marks obtained in the case studies and 70% of the mark obtained in the final examination.

Profiles

Proven training

12% of certified people started a new career after completing this certificate.

45% have benefited from a concrete advantage in their career as a result of the certificate.

Arsène Louh
Agency Manager, Bank of Africa, Abidjan
" The pedagogical format, the quality of the content and the learners' network make this route a very beautiful experience. "

Assigned a score of :

Carole Ezin
Chartered Accountant, EY, Cameroon
"ICCF allows public accountants to become financial experts and better advise their clients."

Assigned a score of :

Katty Tosi
Valuation Specialist, Luxembourg
"Thanks to ICCF @ HEC Paris, I didn't have to choose between family and professional life."

Assigned a score of :

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