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Scott Rostan Seminars

Scott Rostan provides provides live instruction in financial modeling and valuation training for finance professionals through his company, Training the Street, Inc.. Training the Street instruction demonstrates real-world applications of finance theory with practical examples and hands-on exercises. Training the Street employs the actual valuation analyses and financial modeling methodologies employed by Wall Street professionals. The material is constantly updated and expanded to offer the most current and comprehensive learning experience.

THE TRAINING THE STREET ADVANTAGE

BANKING EXPERIENCE - Former investment bankers who have been in the trenches bring real-life experiences into the classroom.

PROFESSIONAL INSTRUCTION - Years of experience in both academic and corporate training settings.

DEDICATED TRAINING RESOURCE - Full-time instructors and support eliminate the need for companies to draw internal resources from their primary focus of deal making.
Training the Street provides dedicated, experienced professionals, delivering a more cost-effective training solution and an enhanced learning experience.

Scott began working for Merrill Lynch's Mergers and Acquisitions Group in New York in 1995, where, as an M&A generalist, his transaction exposure included a broad range of industries and clients. In 1997, Scott became involved with Merrill Lynch's Investment Banking Training Program. After a summer as a teaching assistant, Scott became the lead instructor and content administrator for the Analyst M&A Valuation Training and later the lead instructor, content administrator and manager for both Merrill Lynch's Analyst and Associate Investment Banking Training Programs. From 1997 to 1999, Scott was also a high school teacher at The Field School in Washington, DC, where he taught various subjects and also coached multiple sports teams. Scott graduated with honors in 1995 from Princeton University with a degree in economics. He currently resides in Hoboken, NJ with his wife, Stephanie.

MBA Valuation 101 (Fall)

Overview
The main goal of the seminar is to assist candidates seeking employment on Wall Street and in the field of finance. Through practical examples and exercises, the seminar illustrates the fundamentals of popular valuation techniques used by Wall Street practitioners. The seminar also discusses applications of key valuation concepts such as EBITDA, Enterprise Value, WACC, accretion / dilution and LBOs.

Target Audience
The MBA Valuation 101 seminar is designed to be an essential foundation before investment banking interviews and internships. In addition, Training The Street believes the content will benefit a wide variety of MBA candidates interested in:
• Working in most areas of the financial services industry (investment banking, consulting, research, asset management, private equity, brokerage, sales & trading, insurance, etc.)
• Working in the corporate or strategic development group or finance department of a corporation
• Enhancing the learning experience in finance and financial statement analysis classes
• Working in marketing, brand management or a non-finance field, but are interested in gaining a solid foundation in applied corporate finance in a condensed, practical manner

Topics Covered

Overview of valuation methodologies & key concepts
Public comparables analysis
Acquisition comparables analysis
Discounted cash flow analysis
Imputing valuation ranges
Overview of M&A accounting
Merger consequences analysis
Leveraged buyout analysis
Life-cycle of IPOs and M&A transactions (Two Day version only)

MBA Financial Modeling 101 (Spring)

This intensive workshop, an abbreviated version of the program for Training The Street, Inc.’s corporate clients, is designed to develop financial modeling skills through actual hands-on construction of a financial model. Each participant will build their own interactive financial model from “scratch” to practice blending accounting, finance and Excel skills. The completed product is a dynamic model with 5 years of projections and 3 years of historical data, containing the following detailed statements and schedules:
Income statement, balance sheet and cash flow statement
• Working capital schedule
• Depreciation schedule
• Intangibles amortization schedule
• Shareholders’ equity schedule with a share repurchase table
• Debt and interest schedule with a “cash sweep”
• Detailed ratio worksheet

In addition, the workshop will cover the following advanced modeling topics:
• Understanding and controlling circular references
• Balancing a model
• Fundamentals of creating data tables
• Overview of using TEXT functions
• Adding a discounted cash flow valuation worksheet

Depending on the time allotment for the workshop, each participant can receive a template that contains the line items and years for each of the schedules. Constructing the model will entail entering the historical financial results normalized for unusual items and projecting 5 years of financial performance.

Learning Methodology
Through practical examples and annotated Excel guides, the lectures will discuss theories, approaches and applications of financial modeling. The participants will have the opportunity to construct a model of their own to apply the lessons learned in the lectures. Personal one-on-one assistance will be available to answer questions and give guidance while the participants are working on the computers. During computer time, Training The Street will supplement the lectures with tips and hints on Excel best practices for financial modeling.

Workshop Schedule
Due to the demanding schedules of MBA programs, Training The Street normally conducts the modeling workshop over 2 full days. However, extending the workshop to 2 ½ or 3 full days enhances the learning experience, allowing for more exercises and analysis. Below is a typical schedule:

Workshop Part 1
• Overview of financial modeling
• Excel best practices foundation and exercises
• The core statements – income statement, balance sheet and cash flow statement:
• Entering the historical financials, projecting revenues and operating expenses
• Working capital schedule
• Depreciation schedule

Workshop Part 2
• Amortization schedule & other long-term items schedule
• Shareholders’ equity schedule
• Debt and interest schedules
• Understanding and controlling circular references
• Balancing the model
• Utilizing the completed model
• Advanced topics: creating a data table, using TEXT functions, adding a DCF