CCFA case studies

CCFA · Put your knowledge to work in context.

The Certified Corporate Financial Analyst (CCFA) is an independent professional credential aimed at people who analyse companies from the inside out: corporate finance staff, FP&A analysts, credit and equity research associates, and accounting professionals moving toward a finance-heavy role. Its syllabus is broad rather than boutique, spanning financial accounting and reporting, financial statement analysis, corporate finance and capital structure, investment analysis and valuation, financial modelling and forecasting, risk management and derivatives, economics and capital markets, and ethics and professional standards. The CCFA case studies are 5 cases and about 5,116 words.

Northwind Compliance Systems: A SaaS Contract With an Implementation, a Mid-Term Module and a Discount Option

Northwind Compliance Systems signed a three-year SaaS contract with a bank on 1 January 20X5: a 1.2 million annual subscription billed each January, plus a one-time 900,000 implementation service delivered in Q1. The configuration work does not modify core code, the bank could use the hosted platform without it, and other customers routinely buy the subscription alone.

936 words, about 5 min 2

Harborline Industrial: A Debt-Funded Buyback Against a Stepping-Down Covenant

Harborline Industrial reports LTM EBITDA of 620 million and net debt of 2,350 million (3.8x). Its 2029 unsecured notes trade at 88.

1,003 words, about 5 min 3

Corveta: Auditing an EV-to-Equity Bridge and a Terminal Value

You are reviewing a junior analyst's valuation of Corveta, a European industrial. Her DCF gives an enterprise value of EUR 4,850 million; she subtracts net debt of EUR 1,200 million and divides by 120 million shares to reach EUR 30.42.

1,047 words, about 5 min 4

Riverton Foods: A Collar That Is Not What the Documentation Says It Is

Riverton Foods consumes 12,000 tonnes of cocoa a year and buys at spot. In October 20X5 treasury executes a zero-cost collar on 8,000 tonnes for calendar 20X6: it buys calls at 3,200/t worth 210,000 and sells puts at 2,600/t worth 260,000, so it receives a net premium of 50,000.

997 words, about 5 min 5

Boutique Asset Manager: A 'GIPS-Aligned' Presentation and a Personal Trade

You are a senior research analyst at a EUR 2 billion boutique asset manager. In January you prepare the annual performance presentation that marketing describes as GIPS-aligned, although the firm has never claimed compliance.

1,133 words, about 6 min