Accredited Financial Analyst Program

AFA® (Accredited Financial Analyst™) is one of the most highly valued qualifications available internationally for Financial Analysts and Financial Research Analysts. The Accredited Financial Analyst (AFA®) qualification is administered by the American Academy of Financial Management in the US and is promoted as the industry standard for professionals working in the financial services industry as Research Analysts, Equity Analysts, Portfolio Managers, Investment Bankers etc.

Some of the things the AFA® Program enables you to do are:

  • Understand financial statements, and use them to evaluate the strength of organizations
  • Sift through information to identify what is most relevant
  • Applying sophisticated analytical methods
  • Framing an idea and formulating a hypothesis
  • Develop models to estimate the fundamental value of a firm
  • Apply the concepts of accounting, economics, statistics, and psychology
  • Make an extensive use of modeling tools such as excel in creating financial models
  • Write professional research reports
  • Advise and analyze investments

Topic Outline

  • Module 1: Analyzing Companies
    • Framework for fundamental analysis
    • Top down approach to traditional security analysis
    • Understanding key macroeconomic concepts
  • Module 2: Analyzing Financial Statements
    • Evaluating quality of earnings
    • Detecting earnings manipulation
    • Liquidity ratios, Capital Structure ratios, and Asset Management Efficiency ratios
    • Decomposing the Return On Equity (ROE) ratio
  • Module 3: Analyzing Financial Valuation Model
    • Issues in using Dividend Discount Model
    • Cash flows and growth rates
    • Tests of Dividend discount model
  • Module 4: Analyzing Free Cashflows to Equity Discount Models
    • Free Cashflows to Equity versus Dividends
    • FCFE Valuation Models
    • FCFE Model versus Dividend Discount Model Valuation
  • Module 5: Analyzing Free Cash Flows to the Firm Approach
    • Free Cashflows to the firm
    • Models for Valuing the firm
    • Firm value and leverage
  • Module 6: Analyzing Price to Earnings Multiples
    • Use and Misuse of PE ratios
    • Estimating PE ratios from fundamentals
    • Comparisons of PE ratios
  • Module 7: Analyzing Price to Book Multiples
    • Estimating PBV ratios from fundamentals
    • Estimating PBV ratios from comparables
    • PBV ratios and investment strategies
  • Module 8: Analyzing Price to Sales Multiples
    • Issues in using PS multiples
    • PS ratios and fundamental
    • PS ratios and profit margins
    • Using PS ratios in investment strategies

What they say about AFA Program?

The program was indeed impactful. I gained so much understanding and was able to appreciate the technical terminologies that were given light by Sir Alvin. I had a lot of takeaways that would definitely help me strategize more in my job as well as that sense of an increased confidence.

Judith Riann Fernandez
Finance Associate and Data Privacy Officer

I gained meaningful knowledge for this AFA program, which I could apply to my profession. I really appreciated all the templates that were given in all the modules every session. Examples given in the topics are all practical and very useful. The speaker presented it very well. Thank you very much and God bless.

Elizabeth A. Corpuz
Accounting Manager

The AFA program gave me a more concrete foundation in terms of valuation, the various methods, and data sources. Despite the online class set-up, it was made sure that everything was properly executed and that participants were engaged. Overall, the program was excellent. This will definitely help me in one of my career paths. Cheers!

John Michael C. Fernandez
Finance Consultant

The practical insights in valuation of private companies is very helpful in creating one for our company. I’ve learned where and what to benchmark and sources of data to be used in the valuation. With this insights It gives me confidence in completing the financial model with valuation.

Jhoan Labiste
Financial Controller

Great! I've learned a lot on this program. Hopefully, I can use it in my profession and for my future career. Thank you so much.

Arneil Escolango
Local Treasury Operations Officer II

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