PROFESSIONAL FINANCIAL MODELLER TM

Promoting
Awareness for
Financial
Modelling
Sustainability
and Valuation
Coherence
among Multiple
Asset
Classes

PREPARATION AND EXAMINATION

Weekend Class
Jakarta, 6,13,20,27 Aug and 3 Sep 2016

PROFESSIONAL FINANCIAL MODELLER

Program Profile
5 DAYS
PROFESSIONAL
FINANCIAL
MODELLER
WORKSHOP

PROFESSIONAL
FINANCIAL
MODELLER

The financial modelling sector has expanded in role and popularity in

business and financial sector as it evolves to become the centerpiece in
corporate financial analysis relied more and more by creditors, investors,
government institutions and company management across the world.
Hence, possessing the skill as well as the designation is proven to be an
important basis for successful career.
Professional Financial Modeller (PFM) preparation and examination is a
highly interactive course designed to teach a practical understanding of
effective financial modelling. The program covers many subject areas and
and through real-life case studies, the emphasis will be on practical and
pragmatic approaches. PFM programs is envisioned to become the
benchmark in financial modelling and currently, the curriculum already
employs models which are not delivered in other modelling classes where
some concepts are proprietary to PFM Program. The aim is to improve
prediction quality. PFM has adopted Sustainable Financial Modelling
principles to ensure that a model developed has reasonable and
adequate basis for the long run.
After sitting on a 4 day preparation program, participants will sit on a
whole day examination, in which participants will face two sets of
exam: Multiple Choice and Computer Practice Exam. Those who pass
both exams will be awarded the right to use PFM Professional
Designation which is administered by International Financial
Modelling Institute.

PROFESSIONAL FINANCIAL MODELLER

Who Should Join ?

Directors & Senior Managers

Financial & Investment Analysts

Risk & Treasury Professionals

Middle Office Staff

Commercial Credit Bankers

Model Auditors

Insolvency Professionals

Project Finance Professionals

Investment Banking &

Transaction Advisors

Marketing Manager

Financial Controllers & Managers

Strategic & Financial Planners

Accountants

Private Equity Analyst

Portfolio Managers

Company Controllers

Corporate Valuation Specialists

Economists & Quants

Business Development Managers

PROFESSIONAL FINANCIAL MODELLER

BENEFIT

Increasingly advanced curriculum by employing methods which is aimed to

increase prediction quality
The program is intensive and packed in a five day program, suitable for busy
professionals who want to learn complex models and get designation without
the hassle of taking prolonged program
Participants will learn how to create financial projection and valuation from
Excel
Certification program is proven to be better to grasp maximum retention due to
the exam involved
The ability to use the PFM designation on your business card and resume
Facilitators of the program has practical knowledge and experience
PFM delivers pure modelling knowledge. No presentation or promotion of any
modelling software
Has been attended by hundreds of financial modelling professionals

PFM Program
The program is structured as a ve day program combining theory and practice by
using spreadsheet.
Day 1
08.00 10.00
10.00 10.15
10.15 12.00

Undertand Balance
Sheet for Modelling
U nderstand Inco
me Stateme nt
for M o delling

12.00 13.00
13.00 15.00

Cash F low
M odel

15.00 15.15

Day 2

Day 3

Preparing and
Valuation: Discounted
Forecasting
Cash Flow Model
Assumption
Coffee Break
Undertand Financial
Model Forma t

Enterprise
V a lue mo de ls

Lunc h Break
Dividend Discount,
Case Study: Develop
Financial Projection
Resid ual Inco me ,
(1)
Relative V alue M odels

Day 4

Day 5

Ratio Analysis for

Modelling

Financial Model for

Project (1)

Fina ncial M odel

for Project (2)

M ultiple Choice
(08.30 11.00) and
Computer Practice Exam
(13.00 18.00 )

Coffee Break

15.15 17.00
Quantitave Model
for Forecasting

Case Study: Develop

Financial Projection
(2)

Cond ucting Ris k

and Sensitivity A
nalysis on M ode l

Case Study for

Project Financ ial
M odel

Preparatory class is conducted in Bahasa Indonesia. PFM Exam in Indonesia is delivered in bilingual setting:
English and Indonesian language. The sessions are computer intensive, participants are required to bring laptop
with MS Excel or Open Ofce installed. PFM program is available for public and in house classes. In house class
can be tailored to meet specic need of your organization with minimum participation of 10 people. Contact
us for
detail.

PROFESSIONAL FINANCIAL MODELLER

Program Syllabus
DAY
Day One:
Understand Financial Report and
Learning about Forecasting
Techniques

Course Description
Training begins by conducting review on accounts in profit & loss
statement and balance sheet, continued by learning simple technique
to prepare a balanced model by developing its cash flow statement. A
case study will be furnished to enhance study.
Participants will also learn about important quantitative forecasting
techniques by using regression and time series for linear and non-linear
forecast. Participants will also learn how to create Monte Carlo
prediction by using Excel. Discussion on how to apply Monte Carlo
simulation in preparing the assumptions will be prominent.

Day Two:
Preparing Assumptions and
Preparing Financial Model

Participants will study various financial projection assumptions which

are commonly used in financial projections, both macroeconomic and
firm specific projections, accompanied by a case study. Some specific
topics are discussed such as modelling FX rate and inflation.
Participant will also learn to derive interest rate from bond yields.
Participant will also learn to prepare assumptions in order to derive
sustainable modelling by studying about how to model continuous
fixed asset investments, continuous long term loan balance and others.
Then participants will learn to prepare a financial projection of a
company by following the instruction line by line. There will be specific
topics covered such as calculating COGS for trading and
manufacturing based products, modelling FX Gain Loss, modelling
project with capitalized interest (Interest During Construction) loan,
preparing depreciation and amortization table, loan model, modelling
intangibles, goodwill, investment in subsidiaries etc.

Day Three:
Understand How to Value a Company by
Using Various Models and Conducting
Analysis on the Model

Participants learn to develop Required Rate of Return by using single

interest rate and multiple interest rates. Also learn to calculate firm and

equity value by using various discounted models, such as Discounted

Cash Flow (DCF) model, Enterprise Value based DCF models,
Dividend Discount Model and Residual Income Models. Participants
will also learn to value company by using price multiples, on both
M&A and capital market multiples. This session will be followed by
case study.
Participant will learn about sustainable modelling to understand
various highly common flaws done by financial modeller which causes
valuation to be inflated. There will be analysis by using common size
and index analysis. There will also be discussion on sensitivity risk
analysis techniques by using sensitivity ratios such as equity duration
and also, inflation, commodity and loan interest spread change effect
to change in valuation. There is discussion on determining the most
influential (risky) assumptions. Methods to conduct scenario analysis
will also be
discussed. Another case study will be given to enable

PROFESSIONAL FINANCIAL MODELLER

Day Four:
Conducting Ratio Analysis
Understand How to Prepare Financial
Projection on Certain Projects

Participant learn to use various financial ratio analysis

including leverage level to determine the health level of a
company and whether the company is resilient to face
challenges in the future. There will be discussion on Delta
Ratios, which will be used to determine whether the company
(or at least the model) is sustainable in the long run.
Participant will learn about financial model on a specific
project, the important aspects that a participant will need to
know when preparing the model. Participants will also learn
how to differ between financial projection for a corporate and
for a specific project. Also feasibility analysis of a project by
using methods such as NPV, IRR, Discounted Payback,
Profitability Index. A case study will accompany the study.
There will be special discussion on NPV Profile, Multi IRR
Projects, aggressive technique called NPV Resurfacing, NPV
sensitivity risk analysis by using Distance to Zero NPV
measurement, The discussion will be followed by a case study.

Day Five:
PFM Examination

Participants will face two session examination: multiple

choice examination in two and half hour followed by
computer practice examination where participants will need
to prepare a corporate financial projection in Excel which
must be completed in five hours.

PFM Program is administered by International Financial Modelling Institute. PT. Rajawali Konsulindo is
a training and consulting firm and has been awarded by IFMI to conduct PFM Preparation Program in
Indonesia.

PFM INHOUSE PROGRAM is available with minimum 10 persons. Contact us for details.

PROFESSIONAL FINANCIAL MODELLER

Program Schedule:
Weekend Class: Every Saturday 6 August 3 September 2016
Location
: Hotel Oria, Jakarta
Investment

: Rp 11.000.000

Including :
Hand out Venue,
lunch and coffee break
Examination Fee
Attendance Certificate
Accomodation & Transportation Excluded

PAYMENT
Transfer payments via Bank Central Asia,

No. Rek. : 4900 319 334

An.
: PT. Rajawali Konsulindo
Payment proof to be transfer to :
Email to: yolia.atmadjaja@yahoo.com

For Information :
Phone : 021-58910022, 58910055,
0858 8050 0875, 081282531889
Email to: info@gheramw.com, gheraseminars@yahoo.co.id or
yolia.atmadjaja@yahoo.com

PROFESSIONAL FINANCIAL MODELLER

Program Facilitators :

Ricky Ichsan, CFA, FRM, PFM. CFP, ERMCP,

CFOS, CRMP
More than 15 years in insurance, treasury fixed income and
derivatives, corporate finance and risk management sector. Advising
the acquisition process, restructuring and valuation of large companies
in Indonesia.

Sapto Rahardjo, MM, PFM, Csi, CFP, CIR

Experience working in the banking and investment of more than 14
(fourteen) years. Consultant for finance and investment, project
finance and financial modeling in several private and state-owned
companies. Goldstone served as Managing Director Financial
Advisory and Consulting Energo