Guest lecture on the course "Investment Analysis" from financial analysts of Versus consulting company
During the lecture, the students got acquainted with modern approaches to the structure of financing investment projects. Have been reviewed in detail:
- Sources of financing: bank loan, equity loan, mezzanine financing, bridge loan, VAT loan, revolving credit facility.
- The order of sampling and repayment of funds: features for different instruments, timing of sampling and repayment.
- Debt repayment profiles: annuity, uniform, free cash flow.
- Determining the cost of financing: fixed and floating rates, the key rate of the Central Bank of the Russian Federation, bank margin.
- Grace period, fees, reserve accounts for banks (DSRA).
- Free cash flow (CFADS) and financial covenants of banks (DCSR, etc.).
The second part of the master class was devoted to working with the financial model. Students in practice:
- we calculated the need for financing;
- we modeled debt repayment according to different profiles;
- CFADS and DCSR indicators were calculated;
- we analyzed the financing structure of the investment project;
- we discussed the possibilities of optimizing the financing structure.
The master class allowed students not only to deepen their theoretical knowledge of investment analysis, but also to acquire practical skills in working with financial models, which is especially important for future professional activities in the field of finance and investment.
The guest lecture, conducted by experts of the VERSUS consulting group, became not only a rich theoretical block, but also an important practical stage in mastering the Investment Analysis course for 3rd year students of SHEM.
The practical significance of this event manifested itself in several aspects at once.
- Immersion in real business cases. The students got acquainted with how the financing structure of investment projects is formed in practice, what tools modern companies and banks use, and how financial flows are calculated and optimized.
- Mastering key financial indicators. Concepts such as CFADS (free cash flow available for debt servicing), DSRA (reserve accounts for banks), DCSR (debt coverage ratio), as well as various debt repayment profiles were discussed in detail. This allowed us to consolidate theoretical knowledge on concrete examples.
- Working with the financial model. During the practical part, students independently calculated the need for financing, modeled various debt repayment scenarios, analyzed the financing structure and looked for ways to optimize it. Such experience is extremely important for the formation of professional competencies.
- Understanding of modern market requirements. The lecturers shared relevant approaches to assessing the cost of financing, talked about the role of banking covenants and grace periods, which is especially valuable for future specialists in the field of finance and investments.
The master class was a logical and effective completion of the Investment Analysis course. He allowed the students to:
- Systematize the acquired knowledge. All the main topics of the course, from the assessment of investment projects to risk analysis and financing structure, were integrated into a single practical task.
- See the application of theory in practice. The students were convinced that investment analysis is not only formulas and calculations, but also the ability to make informed decisions in a real economy.
- Get motivated for further development. Communication with professionals, the opportunity to ask questions and receive feedback have inspired many to study financial disciplines in depth and build a career in this field.
Thus, the guest lecture not only broadened the horizons of the students, but also gave them real tools for future professional activity, becoming a bright and useful finale of the Investment Analysis course.
We would like to thank the VERSUS experts for an interesting and eventful master class!