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Ashley B and Jeffrey Hooke

Week 1 - Free Cash Flow Free cash flow components and the objective of the firm Week 2 - Capital and Modified Free Cash Flow The cost of capital, capital budgeting using free cash flow, and modified free cash flow Week 3 - Evaluating & Integrating Acquisitions Using free cash flow to evaluate acquisition opportunities, and the integration of acquisitions and its issues Most FutureLearn courses run multiple times. Every run of a course has a set start date but you can join it and work through it after it starts. Find out more This course is ideal for financial analysts and associates. It is also suitable for directors and managers who have transitioned, or hope to transition, to mergers and acquisitions from other areas, such as equities or fixed income. To get the most from this course you will need a good knowledge of financial analysis and MS Excel.

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Week 1 - Free Cash Flow Free cash flow components and the objective of the firm Week 2 - Capital and Modified Free Cash Flow The cost of capital, capital budgeting using free cash flow, and modified free cash flow Week 3 - Evaluating & Integrating Acquisitions Using free cash flow to evaluate acquisition opportunities, and the integration of acquisitions and its issues Most FutureLearn courses run multiple times. Every run of a course has a set start date but you can join it and work through it after it starts. Find out more This course is ideal for financial analysts and associates. It is also suitable for directors and managers who have transitioned, or hope to transition, to mergers and acquisitions from other areas, such as equities or fixed income. To get the most from this course you will need a good knowledge of financial analysis and MS Excel.

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    Reviews summary

    Practical m&a free cash flow modeling

    According to learners, this course is a highly practical and foundational guide to Free Cash Flow (FCF) modeling for Mergers and Acquisitions. Many highlight the instructor's clear explanations and the effective simplification of complex topics. The hands-on application of concepts in Excel is consistently praised as a major strength, making it highly relevant for finance professionals and those transitioning into M&A roles. While providing a strong foundational understanding, some advanced learners suggest it could benefit from more in-depth coverage of complex scenarios or detailed step-by-step Excel model building instructions.
    Provides a strong base, especially for professionals new to M&A.
    "This course filled a crucial gap in my knowledge."
    "It definitely reinforces the fundamentals, and the Excel models provided are a great starting point."
    "As a finance student looking to get into investment banking, this course was a game-changer."
    "Very strong foundational course. It covered the core concepts well."
    Strong emphasis on practical application of FCF concepts in Excel.
    "The practical examples in Excel were incredibly helpful."
    "The practical application of concepts in Excel was a major plus."
    "It breaks down FCF beautifully and shows how to apply it directly to acquisition scenarios. Highly practical."
    "I learned how to use practical tools and strategies that I could apply immediately to my work."
    Instructor provides highly clear and effective explanations.
    "The instructor's explanations were very clear, and the practical examples in Excel were incredibly helpful."
    "The instructor simplifies complex topics effectively."
    "The instructor is top-notch."
    "The concepts are explained well."
    Desired more explicit guidance for building Excel models from scratch.
    "The Excel exercises felt a bit rushed. I was looking for more hands-on, step-by-step modeling from scratch."
    "My only minor critique is that the Excel files could have more detailed instructions for recreating the models from scratch rather than just reviewing them."
    Some experienced learners desired more advanced modeling and complex scenarios.
    "I would have liked a bit more depth on complex scenarios, perhaps some case studies."
    "I have a strong finance background, and I was hoping for more advanced modeling techniques."
    "For experienced professionals, it's more of a review. The depth wasn't there for me."

    Career center

    Learners who complete Mergers and Acquisitions: Free Cash Flow Modeling will develop knowledge and skills that may be useful to these careers:

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    Provides a deep dive into the concept of free cash flow and its importance in investing. It is written by a leading expert in the field of fixed income investing.
    Provides a practical guide to value investing, with a focus on free cash flow. It is written by a successful value investor with over 20 years of experience.
    This classic book on financial statement analysis provides a detailed discussion of free cash flow and its importance in assessing a company's financial health.
    Provides a clear and concise introduction to free cash flow and its uses. It is written in a non-technical style that is accessible to readers of all levels.
    Provides a comprehensive overview of corporate finance, with a focus on free cash flow. It is written by two authors who are experts in the field of corporate finance.
    Provides a practical guide to detecting accounting gimmicks and fraud in financial reports. It includes a discussion of free cash flow and how it can be used to identify financial irregularities.
    Provides a comprehensive overview of the cost of capital, with a focus on free cash flow. It is written by two authors who are experts in the field of corporate finance.
    This widely recognized textbook for corporate finance, offering a strong foundation in the subject, including capital budgeting. It is particularly useful for Spanish-speaking students and professionals. The book covers fundamental concepts and provides practical exercises. The latest editions have been updated to include recent financial events and their impact on corporate finance decisions.
    Foundational text in corporate finance and provides a comprehensive overview of capital budgeting principles and techniques. It is widely used as a textbook in undergraduate and graduate programs. The book offers a solid theoretical understanding with practical examples, making it valuable for both students and professionals. The latest edition incorporates contemporary issues in corporate finance, including behavioral finance and the impact of technology.
    Provides a comprehensive overview of investment appraisal and financing decisions. It covers a wide range of topics, including capital budgeting, project finance, and financial modeling. It is suitable for both practitioners and students.
    Provides a comprehensive treatment of capital budgeting under uncertainty. It covers a wide range of topics, including risk analysis, real options, and behavioral finance. It is suitable for graduate students and researchers who want to learn about the latest developments in capital budgeting.
    Provides a comprehensive overview of capital budgeting and long-term financing. It is written by three leading experts in the field, and it is full of real-world examples and case studies. It is suitable for both practitioners and students.
    This classic textbook has been used by generations of students to learn about capital budgeting. It is known for its clear and concise explanations, and for its focus on practical applications. It is suitable for both undergraduate and graduate students.

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