Financial Modeling
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When going up and down the capital structure, why are things such as working capital (AR, AP, Accrued Liabilities etc.) not considered? Why is debt the only piece from the BS that's accounted for in Capital Structure?
What exactly is the objective for Tax Depreciation Schedule? Is it complementary to depreciation schedule that we covered earlier during the course. I fully understand the depreciation schedule. Just don't understand how the Tax Depreciation Schedule fits into the core model and the overall picture.
Also, when building a DCF model, is it usually a best practice in the industry to build out the debt sweep? It seems like that doesn't really play a role in the DCF model. It seems like all we need for DCF is EBITDA, Capex, WC. The present net debt is calculated using current year's debt from 10k. Just wondering about the role of debt sweep.
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