Corporate Finance


Once thought to be high-flown theory, in recent years understanding of value has become increasingly important. The ideas of economic value have been adopted in practice to the extent that everyone in the field of finance is expected to be able to discuss how the issues apply in particular circumstances. Needless to say, a good understanding of what drives value is a pre-requisite of these discussions.


It is true to say that the price of an acquisition will be determined by negotiation - a willing buyer and a willing seller. However, the acquisition must be funded. Our programmes cover the practicalities of the process of acquiring and the practical issues of determining the funding for the acquisition. Projecting financial performance is vital in this context; it can only be done through understanding the key business drivers. These projections can then be compared with the requirements of debt, equity and the range of instruments in between. Clearly, corporate treasury risk is likely to be relevant here, as is company legal structure. These issues are addressed under Corporate treasury .

Financial strategy

All providers of finance would be keen to see that their clients had a sound financial strategy. What are the components of such a strategy? Frequently the initial thoughts centre on financial control - ensuring that all finance is accounted for. Much less frequently is the focus on the more important and challenging issues of how profitable does the company need to be? How much profit is enough? How should returns be delivered?

This topic area is core to practical finance:

how much return is required and how should it be delivered?
how much investment is necessary and how should investment be funded?
how should financial risk be identified and managed?
how should financial resources be controlled?