CFAP4 by Ammar Ahmed | SBM Online Campus

Overview
Curriculam
Instructor
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Course Description

Most comprehensive coverage of BFD with 170 hours lecture time focusing on:

Common sense based conceptual learning of BFD concepts
Solving 250+ examples & past paper questions in class
Specific focus on what can be tested in exams and the best formats & techniques to use in exams
10+ tests & mocks

Key Features

Fortnightly Live Interactive Session
Dedicated WhatsApp Groups for Q & A
Full Course Access Till Upcoming attempt
24/7 Support-Study at your own comfort
Standard Testing System
Quality Video Lectures

Course Outline

General introduction to the course outline

Orientation & Overview

Basic concepts of Financial Management

Lecture 01Free

Cost and Value of Equity

Lecture 02

1. Concept of capital
2. Concept of Equity & Debt
3. Value vs Price
4. Cost & Value of Equity using Dividend Valuation method (DVM)
5. No growth & Constant growth DVM
6. Cost of Equity using Capital Asset Pricing Method (CAPM) Buy

Lecture 02 B

Future value of annuity Buy

Lecture 03

1. Cum-div and Ex-div share price
2. Variable growth DVM
3. Estimating dividend growth rates using Gordon growth and Historic growth models
4. DVM based on Interim dividends
5. Impact of Personal & Corporate taxation in DVM and Financial Management
6. Components & explanation of CAPM Buy

Lecture 04

1. Basics of Debt
2. Computing Value of debt
3. Cost & Value of Bank loans / Simple loans
4. Cost of debt vs Yield on debt Buy

Cost & Value of Debt and the WACC

Lecture 05

1. Using IRR to estimate Cost of debt
2. Cost & Value of Traded redeemable bonds
3. Cost & Value of Non-traded redeemable bonds Buy

Lecture 06

1. Cost & Value of Convertible bonds
2. Cost & Value of Deep discount bonds / Zero coupon bonds
3. Cost & Value of Foreign loans / bonds
4. Exchange rate prediction based on purchasing power parity Buy

Lecture 07

1. Cost & Value of Irredeemable Pref shares
2. Cost & Value of Redeemable Pref shares
3. Cost & Value of Debt redeemable at MV ruling at the day of redemption
4. Cost & Value of Floating rate loans / bonds
5. Term structure of interest rates Buy

Lecture 08

1. Cost & Value of Bonds with mid-life conversion feature
2. Weighted average cost of capital (WACC)
a. Mathematical computation
b. Logical significance Buy

Basic Investment Appraisal

Lecture 09

1. WACC (continued)
2. NPV
a. Basics
b. Tax
c. Real & Nominal cashflows
d. Relevant cashflows Buy

Lecture 10

1. NPV
a. Relevant cashflows
b. Working capital
Buy

Lecture 11

NPV
a. Working capital
b. Cashflows with differing intervals
c. Cashflows evenly over period Buy

Lecture 12

NPV
a. Changing discount rates
b. Complex cashflows calculations
c. Probability & uncertainty
d. Decision trees
Buy

Lecture 13

NPV
a. Decision trees
b. Sensitivity analysis
c. Profitability index Buy

Lecture 14

1. IRR
2. MIRR
3. Monte carlo simulation Buy

Lecture 15

Lecture 15 B

Future value of annuity with growth Buy

Basic Investment Appraisal, Advanced Investment Appraisal & WACC

Lecture 16

1. Ill-liquidity premium
2. Lease & Sale pricing in Target NPV / IRR Questions
3. ROCE / ROI / ARR
4. Economic Value Added
5. Efficient market hypothesis
6. Impact of financial risk on WACC / NPV / Value
7. Traditional theory of capital structure Buy

Advanced Investment Appraisal & WACC

Lecture 17

1. Traditional theory of capital structure
2. M&M theory of capital structure Buy

Lecture 18

1. M&M theory of capital structure â€“ Advanced concepts
2. Hamada equation
3. Pureplay method Buy

Lecture 19

1. Pureplay method â€“ Advanced concepts
2. Cashflow lost vs Opportunity cost in Inv appraisal
3. Terminal value Buy

Lecture 20

Adjusted present value Buy

Lecture 21

Adjusted present value â€“ Advanced concepts Buy

Lecture 22

1. International investment appraisal
a. Determining foreign cashflows
b. Conversion of cashflows to local currency
c. Tax
d. Repatriation restrictions
e. Country risk premium in CAPM Buy

Lecture 23

1. International investment appraisal
a. Country risk premium in CAPM
b. Transfer pricing with Foreign operation Buy

Portfolio theory and Capital Markets

Lecture 24

1. What is portfolio theory
2. Risk & Return of a security
3. Risk & Return of a portfolio 2, 3 or higher count of securities
4. Correlation and Covariance of returns Buy

Lecture 25

1. Calculating Beta Equity
2. Methods to assess optimal portfolio
a. Co-efficient of variation (simple; benchmarked)
b. Sharpe ratio
c. Treynor ratio
d. CAPM / Alpha values Buy

Portfolio theory and Capital Markets, Business Valuation

Lecture 26

1. Mutual funds business
2. Capital markets
3. Stock market indices and their types
4. How are stock index points calculated
5. Introduction to business valuation
6. Multiples based valuation (PE, Revenue, EBITDA multiple)
7. FCF based valuation â€“ basics Buy

Business Valuation

Lecture 27

1. Merger of companies
2. Merged valuation, synergies & benefits
3. Computing Merged WACC Buy

Lecture 28

1. Demerger of companies
2. Demerged company valuation, synergies & benefits
3. Computing demerged WACC
4. Valuation of companies by a Venture capitalist
5. Valuation of company / shares under IPO scenario Buy

Lecture 29

1. Foreign acquisition
a. FCF of foreign company
b. Repatriation restrictions
c. WACC computation
2. Matters considered in a business combination by acquirer / acquire shareholders Buy

Lecture 30

1. Impact of market efficiency type on business valuation
2. Comparing target companies for acquisitions
3. Ill-liquidity premium
4. Computing max price that can be paid for acquisition Buy

Business Valuation, Certain Financial Decisions

Lecture 31

1. Asset based valuation â€“ Book value, Net realizable value, Forced sales value
2. Dividend valuation method
3. Price to Book ratio method
4. Earning yield method
5. Dividend yield method
6. Super profits method of valuation
7. Summarizing all types of business valuation Qs. that may occur in exam
8. Asset replacement decision
a. Real cashflows & Real rate
b. LCM method
c. Bifurcated Real PV & WACC method Buy

Certain Financial Decisions

Lecture 32

1. Single period capital rationing
2. Lease vs Buy vs Rent Buy

Lecture 33

1. Termination of lease
2. Computing lease rentals using lessorâ€™s IRR
3. Linear programming â€“ Limiting factor problems Buy

Lecture 34

1. Critical resource & Slack computation
2. Shadow price / Dual value computation
3. Multi-period capital rationing using Linear programming Buy

Currency Risk & Hedging

Lecture 35

1. Foreign exchange risk
2. What are exchange rates
3. Direct & Indirect quotes
4. Spot & Forward quotes
5. Cross rates
6. Currency forwards
7. Currency futures Buy

Lecture 36

1. Basis in futures
2. Basis evolution & effective lock-in rates Buy

Lecture 37

1. Local currency futures
2. Money market hedge
3. Netting & Matching
4. Multi-lateral netting
5. Currency options Buy

Lecture 38

Interest Rate Risk & Hedging

Lecture 39

1. Exchange rate management by Govt
2. Exchange rate prediction techniques
3. 4 way equivalence
4. REER & NEER
5. Interest rate risk
6. Forward rate agreements
7. Interest rate futures Buy

Lecture 40

1. Basis & Effective lock-in rates in Interest rate futures
2. Interest rate swaps
3. Options on Interest rate futures Buy

Interest Rate Risk & Hedging, Commodity & Security Hedging

Lecture 41

1. Interest rate swaps via intermediary
2. Interest rate swaptions
3. Tick size
4. Commodity & security forwards
5. Commodity & security futures Buy

Dividend and Financing Decisions

Lecture 42

1. Dividend decision
a. Practical influences on div policy
b. Types of div policy
c. Computing optimal div pay-out
d. Managing finance out of div
e. Dividend irrelevance theory
2. Theoretical ex-right price and value of a right Buy

Lecture 43

1. Comparison of financing options
2. Financing costs method of comparison
3. Cashflows / NPV method of comparison
4. Market value using PE or DVM method of comparison Buy

Liquidity risk management

Lecture 44

What is Liquidity Risk?
Liquidity indicators
Tools to manage Liquidity risk
Relationship between Liquidity & Working capital management
Working capital management Buy

Lecture 45

Managing liquidity through working capital
MAC S14 Q2
MAC W16 Q4
BFD S19 Q3 Buy

Lecture 46

Liquidity stress testing
Contingency funding plan
Cashflow forecasting
S 2021 Q2 Buy

Credit risk management

Lecture 47

What is Credit risk?
Credit risk analysis – Using ratios
Credit risk analysis – Credit rating
Credit risk analysis – Complicated tools
Credit risk management – Financial institutions vs Other Entities
Receivables management
MAC S13 Q1 Buy

Lecture 48

Credit risk management through Insurance
Credit risk management through Factoring
MAC S-12 Q6
BFD W-19 Q1
BFD W-17 Q4 Buy

Certain Decision making scenarios

Lecture 49

1. High / Low analysis
2. Process costing (revision)
3. Pricing for special orders
a. Special order â€“ Relevant cost working
b. Tabular approach to general pricing decisions
c. Marginal revenue & marginal cost approach to general pricing decisions Buy

Lecture 50

1. Make or buy decisions
2. Further processing decisions Buy

Arbitrage pricing theory

Lecture 51

Arbitrage pricing theory Buy

S-2021 Solution

Lecture 52

Revision + Exam Handling

Lecture 53

Revision + Exam Handling Buy

ICAP Winter 2021 Solutions

Lecture 54

ICAP Winter 2021 Solution Q1 Buy

Lecture 55

ICAP Winter 2021 Solution Q2 Buy

Lecture 56

ICAP Winter 2021 Solution Q4 Buy

Lecture 57

ICAP Winter 2021 Solution Q5 Buy

MSA-2 practice questions for BFD

Lecture 58

MSA2 example for BFD students - W21 Q2 Buy

Lecture 59

MSA2 example for BFD students - W21 Q3 Buy

Lecture 60

W21 Q2a Buy
W21 Q3ab Buy

Lecture 61

S21 Q3ab Buy

Lecture 62

W20 Q1ab Buy
W20 Q2b Buy

Lecture 63

W19 Q2&3 Buy

Lecture 64

S19 Q1bcd Buy
S19 Q2 Buy

Lecture 65

W18 Q1abc Buy

Lecture 66

S18 Q1ab Buy
S18 Q3ab Buy

Summer 2022 Solutions

Lecture 67

Summer 2022 Q1 Buy

Lecture 68

Summer 2022 Q2 Buy

Lecture 69

Summer 2022 Q3 Buy

Lecture 70

Summer 2022 Q4 Buy

Lecture 71

Summer 2022 Q5 Buy

Summer 2022 Live Q&A Session

Lecture 72

BFD Sum 2022 - Live Q_A # 1 Buy

Lecture 73

BFD Sum 2022 - Live Q_A # 2 Buy

Lecture 74

BFD Sum 2022 - Live Q_A # 3 Buy

Lecture 75

BFD Sum 2022 - Live Q_A # 4 Buy

Lecture 76

BFD Sum 2022 - Live Q_A # 5 Buy

Winter 2022 Live Q&A Session

Lecture 77

BFD - Winter 2022 - Q_A session 1 (Part 1) Buy

Lecture 78

BFD - Winter 2022 - Q_A session 1 (Part 2) Buy

Lecture 79

BFD - Winter 2022 - Q_A session 2 Buy

Lecture 80

BFD - Winter 2022 - Q_A session 3 Buy

Lecture 81

BFD - Winter 2022 - Q_A session 4 Buy

Lecture 82

BFD - Winter 2022 - Q_A session 5 Buy

Summer 2023 Live Q&A Session

Lecture 83

Summer 2023 BFD Live Q_A # 2 Buy

Lecture 84

Summer 2023 BFD Live Q_A # 3 Buy

Ammar Ahmed

Mr. Ammar Ahmed is a qualified Chartered Accountant (Pakistan). He qualified CA at the age of 21 and took less than 4 years to pass all his CA exams. He qualified CA examinations in 2012 and obtained Gold Medals & Merit Certificates in 9 CA subjects, including Gold Medals in most of the subjects that he teaches.

Ammar is a CFA (Level 3 qualified) and passed his L3 exams with a 90th percentile score. He is an Alumni of Harvard Business School (one of the top business schools of the world) having graduated on-campus Program equivalent to Executive MBA with a class distinction. He is also currently doing MS Finance from University College London (amongst the top 10 universities of the World).

Mr. Ammar has been teaching CA CFAP / MSA subjects since 2012 with excellent results (>60% passed students) with 4000+ students having passed respective paper, 5 student distinctions & 600+ CA qualified students.

Ammar has 13 years of professional experience and has led teams & departments in Marketing, Strategy & Finance divisions at a Large MNC. He is a member of the Accounting Standards Board's Technical Advisory Group since 2017.

Mr. Ammar has also attended on-campus Executive education programs at INSEAD (one of the top business schools of the world) and LUMS (one of the best business schools in Pakistan).

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