Corporate and Project Finance Modeling: Theory and Practice

AclearandcomprehensiveguidetofinancialmodelingandvaluationwithextensivecasestudiesandpracticeexercisesCorporateandProjectFinanceModelingtakesaclear,coherentapproachtoacomplexandtechnicaltopic.Writtenbyaglobally-recognizedfinancialandeconomicconsultant,thisbookprovidesathoroughexplanationoffinancialmodelingandanalysiswhiledescribingthepracticalapplicationofnewly-developedtechniques.Theoreticaldiscussion,casestudiesandstep-by-stepguidesallowreaderstomastermanydifficultmodelingproblemsandalsoexplainhowtobuildhighlystructuredmodelsfromthegroundup.Thecompanionwebsiteincludesdownloadableexamples,templates,andhundredsofexercisesthatallowreaderstoimmediatelyapplythecomplexideasdiscussed.Financialvaluationisanin-depthprocess,involvingbothobjectiveandsubjectiveparameters.Precisemodelingiscritical,andthorough,accurateanalysisiswhatbridgesthegapfrommodeltovalue.Thisbookallowsreaderstogainatruemasteryoftheprinciplesunderlyingfinancialmodelingandvaluationbyhelpingthemto:Developflexibleandaccuratevaluationanalysisincorporatingcashflowwaterfalls,depreciationandretirements,updatesfornewhistoricperiods,anddynamicpresentationofscenarioandsensitivityanalysis;Buildcustomizedspreadsheetfunctionsthatsolvecircularlogicarisinginprojectandcorporatevaluationwithoutcumbersomecopyandpastemacros;Deriveaccuratemeasuresofnormalizedcashflowandimpliedvaluationmultiplesthataccountforassetlife,changinggrowth,taxes,varyingreturnsandcostofcapital;IncorporatestochasticanalysiswithalternativetimeseriesequationsandMonteCarlosimulationwithoutadd-ins;Understandvaluationeffectsofdebtsizing,sculpting,projectfunding,re-financing,holdingperiodsandcreditenhancements.CorporateandProjectFinanceModelingprovidescomprehensiveguidanceandextensiveexplanation,makingitessentialreadingforanyoneinthefield.