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Strategic Financial Skills

When: April 08, 2013 - April 12, 2013
Where: Dallas, TX

Presented by SMU Cox School of Business

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"In today's competitive environment, energy companies are doing more with less—and in leadership positions, technical skills matter less than business acumen. Financial skills, accounting knowledge, capital-allocation expertise and strategic insight are necessary to make your mark in the company. This course tackles those subjects and helps non-financial managers in every function of the company understand, interpret and use data to make better business decisions."

Michael R. Vetsuypens, Ph.D.,
Professor of Finance
SMU Cox School of Business

Hundreds of executives have chosen our Strategic Financial Skills program for its concentrated coverage of financial management techniques uniquely tailored to the complexities of their industry. This comprehensive weeklong program uses a hands-on approach to help you understand and master the energy sector’s financial essentials. Your instructors are senior teachers with significant experience in executive development, business, consulting and energy industry financial management. You’ll share ideas and discuss industry issues with participants from around the world in small discussion groups and lively classroom sessions. You’ll meet mid-level to senior-level professionals from many segments of the energy industry and a variety of functional areas within their companies. In a series of information-packed class sessions, you'll learn the essentials of the business side of the energy industry. By the end of the week, you'll have a working knowledge of the key areas of financial management.

Course Highlights:
  • Value creation. Focusing on the creation of value rather than operational measures of success; how managerial decisions affect the firm's value
  • Capital investment and project evaluation. Basic discounted cash flow concepts; estimating cash flows and determining the appropriate cost of capital; comparing capital expenditure techniques—payback, IRR, NPV, etc.; reappraising the project decision—some "softer" issues to consider after the numbers have been run.
  • Financial accounting techniques. Understanding the three primary financial statements—income statement, balance sheet and cash flow statement; distinguishing between reported profit and cash flow; analyzing published oil and gas company annual reports; reporting the results of oil and gas firms—full-cost vs. successful-effort vs. standardized-measure data required by the SEC
  • Financial planning and forecasting. Planning the firm's sustainable growth; estimating future financing needs based on pro-forma statements and other projections; making short-term vs. long-term financing decisions; planning for growth or decline
  • Measuring performance. Measuring the performance of business units and individual managers; interaction between measurement systems and company strategy; evaluating performance in times of uncertainty
  • Performance management. Aligning incentive compensation and strategy; designing incentive plans based on economic-value-added principles; the balanced-scorecard approach
  • Financing large energy projects. Comparing project financing to internal financing; creating value by efficiently allocating risk; understanding how capital markets evaluate risk and return in infrastructure projects; assessing bond rating process
  • Financial engineering. Demystifying derivatives; understanding forwards, futures, swaps and options; weighing the benefits and risks of hedging programs
Who Should Attend:
  • Mid-senior level non-financial managers wishing to achieve financial literacy in an energy-industry setting
  • Financial managers wishing to sharpen their skills, broaden their base of knowledge and relate their functional skills to a broader, general management context
  • Typical participants have more than five years of management experience, range in age from mid-30s to early 50s and work for oil and gas firms or for firms in related energy industries, including pipeline companies, service and supply organizations, government agencies and financial institutions.
Benefits:
  • Gain a working knowledge of key financial techniques, practices, terminology and controversies
  • Learn essential financial concepts to strengthen your management skills—in a concentrated setting away from the workplace
  • Participate in stimulating classroom case discussions on relevant oil and gas industry topics
  • Learn how other companies have implemented successful financial strategies
  • Prepare yourself to make better financial and operating decisions—and master a better decision-making framework
  • Acquire techniques for assessing the performance of your subordinates, your division, or your company
  • Study and develop concepts and techniques you can apply to your job immediately
  • Prepare yourself for advancement to a more senior management role in your company

Dates and Locations
Please visit our API-U Calendar for all upcoming courses.

Format: Five days, 8 a.m. – 5 p.m.

Cost: $6,250, includes five nights of lodging; materials; breakfasts, lunches, breaks; one group dinner. A $1000 discount is applicable when registering for both the Strategic Financial Skills and Strategic Leadership Skills courses that are scheduled for a two-week period. Group discounts are also available for multiple attendees from the same organization. Payment plans available.

To order API publications, please visit the Publications section of the API website.

About the Instructor (s)
Michael R. Vetsuypens, Ph.D.,
professor of finance, teaches corporate finance and international finance in the undergraduate program, MBA program and executive MBA program. Vetsuypens’ research interests include leveraged buyouts, investment banking, the venture capital market, initial public offerings and CEO compensation. His studies has been published in the leading finance journals and presented at numerous professional finance conferences. A native of Brussels, Belgium, Vetsuypens speaks several languages. He has taught managers in the U.S., Europe, Japan, the Middle East and Latin America. His corporate executive education clients include ConocoPhillips, Anadarko, Valero Energy, Texas Instruments, PdVSA, Saudi Aramco and others. During his tenure at Cox, Vetsuypens has received numerous awards for excellence in teaching, research and community service. He holds a master’s degree and a doctor of philosophy degree in business administration from the University of Rochester and was selected as a Fulbright Fellow.

Hemang Desai, Ph.D., is the Robert B. Cullum Professor of Accounting. He teaches intermediate accounting to undergraduates and mergers and acquisitions to graduate business students. His teaching has been recognized with multiple awards in the undergraduate, graduate and executive education programs. He is also the recipient of SMU’s Golden Mustang Outstanding Faculty Award, which honors faculty members for excellence in both scholarship and teaching. Desai’s recent research examines issues related to quality of earnings and the behavior of short sellers. His past research has examined the performance of money managers and analysts, as well as spin-offs and mergers and other corporate restructuring transactions. His articles have been published in top academic and practitioner journals, including the “Journal of Finance,” the “Journal of Financial Economics,” “The Accounting Review,” the “Journal of Business,” and “Financial Analysts Journal.” His writings have also been the subject of columns in a range of leading publications, including “The Wall Street Journal,” “Barron’s,” and the “New York Times.” Desai holds a master’s degree in business administration from the University of New Orleans and a doctor of philosophy from Tulane University.

Charles "Chip" Ruscher, Ph.D., is a clinical professor in the Department of Finance at Southern Methodist University. Chip began his academic career as an adjunct faculty member of the Department of Finance at James Madison University in 1986. His unique mix of academic and corporate experience has earned him a number of awards including Who’s Who Among America’s Teachers, the Delta Sigma Pi Excellence in Teaching Award in 2009 and 2010, the HOPE Award in 2008, the Scrivner Teaching Award in 2006-2007, the Dean’s Award for Teaching Excellence in 2005-2006, Marquis Who’s Who in Finance, and the Financial Management Association’s Teacher of Year Award. In addition, Chip is a member of Beta Gamma Sigma, the Honors Society for Collegiate Schools of Business, the recipient of the Showker Award for Entrepreneurship, and a former Eller Entrepreneurship Faculty Fellow. Chip received a Ph.D. from the University of Arizona with a major in finance and a minor in economics/econometrics. Prior to entering academia, Chip spent over a decade working within the finance industry. He has worked in corporate finance and accounting for American Brands, financial and estate planning for American Express Financial Services, and in trust services and commercial lending for First American Bank.

Ram Venkataraman, Ph.D., is an Assistant Professor of Accounting at the Edwin L. Cox School of Business at Southern Methodist University, where he teaches managerial accounting in the MBA program and the executive MBA program. He holds a Ph.D. degree in Business Administration from the Pennsylvania State University. His research focuses on the role of information in capital markets and his work has been published in leading academic journals. His current research is diverse and examines the effect of changes in impairment rules for intangible assets on capital markets, role of information intermediaries such as financial analysts in equity markets, and issues related to accounting conservatism. Dr. Venkataraman is a Chartered Accountant from India and was in public accounting and consulting in India for several years before working in Dubai, U.A.E managing the finances of a manufacturing firm. His business experience and his interest in how data is used to make tactical and strategic decisions drives his teaching interests in managerial accounting. He has taught managerial accounting at the undergraduate and graduate levels at Penn State, University of Minnesota and, over the last three years, at SMU.

Jim Smith, Ph.D., holds the Cary M. Maguire Chair in Oil and Gas Management at Southern Methodist University. Having specialized in energy studies since receiving his Ph.D. in Economics from Harvard University in 1977, Dr. Smith has been a prolific researcher and author. His publications on OPEC, energy markets, real options, auction theory, and the oil and gas business have appeared in numerous academic and trade journals, including the American Economic Review, the Quarterly Journal of Economics, Mathematical Geology, the Oil and Gas Journal, and World Oil. His 1995 article on Russian oil won The Energy Journal’s Best Paper Award, and many of Dr. Smith’s publications have been reprinted in anthologies of influential research. Dr. Smith is an active member of the United States Association for Energy Economics (USAEE), and was elected to the USAEE Executive Council in 2005. In 2006, he became the Association’s “VP for Academic Affairs,” and in 2007 received the USAEE’s “Senior Fellow” award. Since 2006, Dr. Smith has served as Co-editor of The Energy Journal—the flagship publication of the International Association for Energy Economics.

For More Information
Contact one of the following: 
E-mail: spiper@cox.smu.edu
Phone 1: 214-768-3335
Phone 2: 214-768-7676
Toll Free: 800-768-6699 (USA)

  • Executive Education