The Certified Financial Consultant (CFC) Program is one of the most recognized designations available globally. In both developed and emerging markets, it is regarded as a symbol of professional excellence. There are over 8,500 CFC holders in more than 150 countries around the world.

An investment that will yield immediate and long-term dividends personally and for your organization…

The Corporate Finance Education Program

Who Should Attend The Certified Financial Consultant Program?

The Certified Financial Consultant (CFC) Program is designed for Financial service industry with appropriate experience. The Program will benefit professionals in industry, investment banking, securities, banking and professional service firms, who advise and counsel clients on corporate financing strategy, or are responsible internally for corporate finance and building value in their organizations.

The Program will be of benefit to professionals in, or aspiring to, the position of:

Investment Banker
Financial Analyst
CFO / Treasurer
Venture Capitalists
Stock Analyst
Commercial Banker
Corporate Finance Executive
Corporate Development Executive

The Program will be of benefit to professionals who advise clients on, or are internally responsible for:

M&A transactions
Restructurings
Divestitures
Valuations
Investments
Financing transactions

A Benchmark For Success

Once you’ve completed the Certified Financial Consultant (CFC) Program and gained the required amount of work experience, you will be awarded the prestigious Certified Financial Consultant (CFC) qualification. The qualification is poised to become a distinctive way of identifying excellence. With CFC next to your name, you can be confident that you are among the best in the field.

Employers can be confident that their Corporate Finance Team is exceptional.

Gain global mobility and opportunities from employers who value and reward heightened performance and productivity. Accelerate your professional development by getting in on the ground floor.

a definitive way to identify excellence
progress to higher levels and develop new competencies.

The Experience Route

the opportunity to have your achievements recognized and to further establish your position in the corporate finance community

The Professional CFC Program

attainment of work experience in corporate finance skills and emphasis on real life case study to enhance direct applications of skills learned.

The Student CFC Program

emphasis on analytical-oriented knowledge to enhance and develop key analytical skills

Gain global mobility and opportunities from employers who value and reward heightened performance and productivity. Accelerate your professional development by getting in on the ground floor.

CFC Program Structure

Session 1

Primer to Corporate Finance and Valuation
Tools of the Trade

Fundamental Principles of Corporate Finance
Principles of Time Value of Money
Financial Statement Analysis - Financial Perspective on Cash Flows
Fundamentals of Valuation - Cost of Equity vs. Cost of Capital

Session 2

Framework of Applied Corporate Finance

Understanding the Objective Function of Corporate Finance
- Potential Side Costs of Wealth Maximization
- Corporate Governance Analysis - Some Real World Problems of
- Stockholders, Firm and Management
- Choosing an Alternative Objective Function
Risk and Return Models of Equity and Debt
- Basics of Risk
- The Importance of Diversification- Risk Types
- Measuring Market Risk
- The Role of the Marginal Investor

Session 3

Investment Decision Analysis
Picking the Right Investment

Measuring Risk and Hurdle Rate
- Standard Procedures for Estimating the Cost of Equity
- Market Risk Premium
- The Beta and Leverage- Exploring the Fundamentals
- Weighted Average Cost of Capital (WACC)

Session 4

Investment Decision Analysis

Measuring Returns on Investment

Accounting Earnings vs Cash Flows
Approaches to Investment Decision Rules
- Cash Flow-Based Decision Rules
- Discounted Cash Flow Measures
- NPV, IRR and the Reinvestment Rate Problem
Project Synergy Analysis - The Cost of Product and Project Cannibalization
Using Options in Capital Budgeting

Session 5

Financing Decision Analysis

Finding the Right Financing Mix

The Types of Financing - Debt, Equity and Hybrid Securities
Life Cycle Analysis of Financing
- Debt and Bankruptcy Cost
- Debt and Agency Cost
- Debt and Loss of Future Financing Flexibility
Approaches and Alternatives in Determining the Optimal Financing Mix
- Operating Income Approach
- Cost of Capital Approach
A Practical Framework for Analyzing Capital Structure
Designing the Perfect Debt

Session 6

Dividend Decision Analysis

Returning Cash to the Owners

Designing the Perfect Debt - Continuation from Previous Session
Steps to Dividend Decision
Life Cycle Analysis of Dividend Policy
Framework for Assessing Dividend Policy
- Computing the Free Cash Flow to Equity (FCFE)
- FCFE is greater than Dividend Pay out
- FCFE is less than Dividend Pay out

Session 7

Valuation - Principles and Practice

Choosing the Right Valuation Model - Equity Valuation vs Firm Valuation
Dividend Discount Model versus FCFE Valuation Model
Relative Valuation Analysis
- Price to Earnings Ratio
- Price to Book Value Ratio
- Price to Sales Ratio
- Enterprise Value to EBITDA ratio
Acquisition and Takeovers
- Steps in Acquisition Valuation
- Procedures for Valuing Control and Synergy in a Merger

Session 8

Valuation Enhancing Path to Value Creation

Valuing Private Firms - Procedural Steps in Valuing Private Companies
Determinants of Illiquidity Discount in a Private Firm Valuation
Strategic Ways of Increasing Value of the Firm using the DCF Framework

CFC Examination

Candidates who have successfully completed the CFC Program and fulfilled the education requirement are qualified to take CFC examination. Successful passers of the examination are eligible to become CFC member of the Institute of Financial Consultant (IFC) of the USA.

Also, candidates are also eligible to get Advanced Diploma in Financial Consulting from Canadian School of Finance and Management in Canada provided credit transfer of the CFC Program and submission of written research project in finance. The Advanced Diploma in Financial Consulting allows the holder to get advanced standings in leading MBA universities in UK, United States and Australia.

The Institute of Financial Consultants (IFC)

The Institute of Financial Consultants (IFC) is an international professional organization chartered in the United States and Canada. The Institute has 8,500 members in more than 17 countries.

IFC offers an educational program leading to the designation of Certified Financial Consultant (CFC) issued to qualified graduates. The Institute is multidisciplinary, drawing its members from the related but separate fields of accountancy, insurance, law, funds management, tax and pensions. The Institute is forging a "new" profession that adopts the best features from these related professions and encourages the development of members’ qualifications as financial consultants on the basis of their current professional qualifications.

Financial consultants provide advice to clients in a wide variety of situations from the financial planner advising individual clients on investments to those working as corporate financial officer, portfolio manager, security analyst and investment banker in organizations as diverse as brokerage firms, mutual funds, banks, trust companies, corporate finance departments, insurance companies and other financial management firms.

IFC aims to ensure its members provide competent, ethical and objective financial advice. This is to the advantage of clients and employers, the profession and individual members of the Institute.

Vision

The vision of IFC is to be the global leader in educating and certifying financial consultants.

Mission

The mission of IFC is to provide education and certification for financial consultants so that members qualified to use the designation Certified Financial Consultant are recognized internationally as trusted financial advisors.

Objectives

The objectives of IFC are to:

offer thorough and accessible educational programs for professionals anywhere in the world to qualify as competent financial consultants.
issue the designation of Certified Financial Consultant (CFC) to qualified graduates of the education program.
ensure each member adheres to the Institute’s code of ethics.
grow public respect for, and confidence in, the profession of financial consulting.
gather and circulate current information relevant to financial consulting to Institute members.
encourage and provide opportunity for Institute members from all countries to share their knowledge and experience in financial consulting.
promote and enhance professional and career opportunities for Institute members throughout the world by maintaining the high standards of the Certified Financial Consultant designation.