Finance and TreasuryCorporate Finance and Investment Appraisal
Investment decisions are usually presented after they have effectively been made, with the appraisal built to support the conclusion rather than to test it. This course teaches the discipline that resists that. Delegates work through the cost of capital and what it means in an economy with high and volatile inflation, and the difference between nominal and real analysis, which is where most local appraisals break. Cash flow forecasting for a project follows, including the incremental principle and the costs that must not be included. Net present value, internal rate of return and payback are covered on what each tells you and where each misleads. Risk analysis through sensitivity, scenario and break even follows. Financing decisions and capital structure are addressed. Currency exposure on a cross border investment is covered. The course closes on post investment review and on the appraisals that should have been rejected.
Course objectives
- Calculate a cost of capital appropriate to a volatile economy
- Keep nominal and real analysis consistent
- Forecast incremental project cash flows correctly
- Apply net present value, internal rate of return and payback appropriately
- Test decisions through sensitivity, scenario and break even analysis
- Weigh financing decisions and capital structure
- Manage currency exposure and run post investment review
Who should attend
- Corporate finance managers and analysts
- Project finance and infrastructure development staff
- Capital expenditure committee members
- Engineers and technical managers proposing capital projects
- Development finance institution appraisal officers
Course outline
- 01Appraisals built to support a conclusion
- 02Cost of capital under high inflation
- 03Nominal against real analysis
- 04Incremental cash flow forecasting
- 05Net present value and internal rate of return
- 06Payback and where each measure misleads
- 07Sensitivity, scenario and break even
- 08Financing, currency exposure and post investment review
Scheduled sessions
| Dates | Venue | Format | Price | Register |
|---|---|---|---|---|
| 26 to 28 October 2026 | Durban, South Africa | Classroom | R14,950 per delegate | Register Now |
| 18 to 20 January 2027 | Online | Online | R6,500 per delegate | Register Now |
| 3 to 5 March 2027 | Harare, Zimbabwe | Classroom | USD 995 per delegate | Register Now |