Estimated Taxes
Hello: I am modeling out a company that has been experiencing NI losses (and pre-tax income losses) over the last few years and recently has started turning a profit. In attempting to figure out what taxes will be next quarter and for the full year, what is the best way to do this? I am not loo... Hello:

I am modeling out a company that has been experiencing NI losses (and pre-tax income losses) over the last few years and recently has started turning a profit. In attempting to figure out what taxes will be next quarter and for the full year, what is the best way to do this? I am not looking for perfect precision here (As in based on the differences in D&A for tax reporting versus D&A reported for GAAP etc...) I just wondering is there a good rule of thumb or simpler method. I guess my question applies to two tax numbers 1.) the income tax expense reported in the income statement and 2.) cash taxes as is often supplied as suplemental infomation at the bottom of the Cash Flow Statement.

Thank you Read More

Re: Modeling 'Names' used in IB/PE - Question
Thanks to both of your replies! Now say I was to get into 'community' college, what is the one (1) subject I can take that introduces me to (and shows me) what analysts [or other lower entry positions in banking] know - yes, not do; KNOW! About me> Keep in mind that I'm a pretty smart guy when ... Thanks to both of your replies!

Now say I was to get into 'community' college, what is the one (1) subject I can take that introduces me to (and shows me) what analysts [or other lower entry positions in banking] know - yes, not do; KNOW!

About me> Keep in mind that I'm a pretty smart guy when it comes to doing something I know how to do (like my 120% scores on my 'throwing-salt' exams ). So if I walked in on, say, JP Morgan doing a merger deal on Office Depot & OfficeMax, and had 'some' knowledge about what they were actually doing [such as what each major line in excel meant and was calculated - EPS, Revenue, EBITDA, and so on..], I could probably take a seat and join them or continue someone's unfinished work.

What's one course/subject that can teach me [give me most of the basics to know how to do the job]? Do you have a feedback on the book "the practitioner's guide to IB, M&A, and corporate finance"? I looked at it's table of contents and I'm wondering if I would buy it and not understand it because I need a 'prerequisite' to it?

Put this way - If I was a 4th grader and read 'the practitioner's guide..', can I end up doing what bankers do? Not to work as a banker, but, will it teach me what they know? If not, then what is the prerequisite to the book - the one and only thing that if bankers didn't know, they couldn't do their job?

Thank you again for putting up with me, & I hope you know where I'm coming from asking those questions! Read More

Complex Trading Comps Analysis: Fair Value of Debt
Is it not more appropriate to use the fair Value of Debt (given in footnote 5 in F-15) versus the Book Value of Debt less Capital Leases Obligations as shown in the Video?

Thanks.

Re: Estimated Taxes
Thanks for the prompt response. So to break this down to absolute basics, I go to the income taxes footnote and look for the current Operating Loss Carry Forwards balance. If there is a positive (there is a pool of losses) then in my projections I reduced future/projected pretax income dollar ... Thanks for the prompt response.

So to break this down to absolute basics, I go to the income taxes footnote and look for the current Operating Loss Carry Forwards balance. If there is a positive (there is a pool of losses) then in my projections I reduced future/projected pretax income dollar for dollar. If I use up the entire loss balance in that quarter and therefore still have some EBT, then I can use a statutory tax rate to estimate cash taxes correct?

I understand what you said about how to calculate the Defered tax assets and deferred tax liabilities.

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Re: Cannot FULLY use WSTMacros3.4.2.xla on Excel 2013
I guess the problem is coming due to format issues. Make the file .xlsx and enable macro in the file menu. Then you can download the WSTMacros3.4.2 (full version) from the site referred above. It should work automatically then.