Posts by: WST Expert 1
Re: Capitalizing vs Expensing Interest
No.
the cash flow in EACH period is always the same - that's the point of the accounting bootcamp class that Dean Fred Choi hones in.
the variation from time period to time period is offset by any taxes
No.
the cash flow in EACH period is always the same - that's the point of the accounting bootcamp class that Dean Fred Choi hones in.
the variation from time period to time period is offset by any taxes
RE: LBO enhanced model question
The pro forma is now proforma 6/30/08. You would keep estimated 2008 still as you still have 6 months in the year. Hence you need a last 6 months (2H 08 is the label) for IS and CF and Debt. You can make all of 2008 2nd half only, thus ending up with a 4.5 year projection model. Or add a brand new... Read More
The pro forma is now proforma 6/30/08. You would keep estimated 2008 still as you still have 6 months in the year. Hence you need a last 6 months (2H 08 is the label) for IS and CF and Debt. You can make all of 2008 2nd half only, thus ending up with a 4.5 year projection model. Or add a brand new... Read More
Re: Cost of Debt Sources
If the company has public debt, go to bloomberg and obtain their YTM.
if no public debt (or no debt), then you proxy using spreads per the other posting.
Sounds too much like you're trying to have someone else do your work for you.
Then, where's your value-add?
If the company has public debt, go to bloomberg and obtain their YTM.
if no public debt (or no debt), then you proxy using spreads per the other posting.
Sounds too much like you're trying to have someone else do your work for you.
Then, where's your value-add?
RE: Debt and Capex
Yes, your modifications will work fine. There can be unlimited possibilities to enhance any model - for instance, some people like to only take 50% of any positive cash flow and pay down debt and then dividend the remaining 50% (more relevant for LBOs). As long as you test your logic for yo... Read More
Yes, your modifications will work fine. There can be unlimited possibilities to enhance any model - for instance, some people like to only take 50% of any positive cash flow and pay down debt and then dividend the remaining 50% (more relevant for LBOs). As long as you test your logic for yo... Read More
RE: Deferred Maintenance Revenue treatment for TEV
This is definitelty akin to deferred revenue and unearned revenue (ie magazine subscriptions). Thus, not to be part of TEV and so the same answer - don't add or subtract. In the case of a merger, we would normally treat this as a closing adjustment due to working capital - that is, the buyer req... Read More
This is definitelty akin to deferred revenue and unearned revenue (ie magazine subscriptions). Thus, not to be part of TEV and so the same answer - don't add or subtract. In the case of a merger, we would normally treat this as a closing adjustment due to working capital - that is, the buyer req... Read More
Re: Cost of Debt Sources
ok, we'll let you slide on the laziness part!
We would recommend using bloomberg or comparable data source and set up a bloomberg download spreadsheet using BLP functions in which you grab each ticker's debt.
ok, we'll let you slide on the laziness part!
We would recommend using bloomberg or comparable data source and set up a bloomberg download spreadsheet using BLP functions in which you grab each ticker's debt.
Re: Building models from scratch?
The Capstone model is a SIMPLE model that focuses and emphasizes on setting up a spreadsheet model from scratch. As you know, all of our modeling courses come with a blank template provided in which the formatting is pre-done, just the numbers are blanked out. As such, folks have asked for a module... Read More
The Capstone model is a SIMPLE model that focuses and emphasizes on setting up a spreadsheet model from scratch. As you know, all of our modeling courses come with a blank template provided in which the formatting is pre-done, just the numbers are blanked out. As such, folks have asked for a module... Read More
RE: Is DCF a pre- or post-tax value?
Generally, dcf tv uses mkt multiples. You are valuing the company as opposed to selling it altho the premise is to value as if u r seeling (multiples) vs hold forever (perpetuity growth).
Dcf = 100% value. If minority valuation, while other world due to liquidity and minority discounts.
Generally, dcf tv uses mkt multiples. You are valuing the company as opposed to selling it altho the premise is to value as if u r seeling (multiples) vs hold forever (perpetuity growth).
Dcf = 100% value. If minority valuation, while other world due to liquidity and minority discounts.
Re: Excel 2003 to Excel 2007
Absolutely! There are pros and cons to migration. Contact us separately for details and specifics.
Absolutely! There are pros and cons to migration. Contact us separately for details and specifics.
Correct - however if you do a trx adj on IS you need a tax schedule to be completely accurate. We didn't cover this in the videos since it was beyond the scope and relatively immaterial but you have the right idea.