Posts by: WST Expert 1
RE: LBO enhanced model question
Summary Page a) The Illustrative Valuation box is meant for information only. The real key is the Sources & Uses of Funds. The Illustrative Valuation should be a snapshot of the current valuation of the entire company (even if less than 100% purchase). b) You can hard code the Equity Contrib... Read More
Summary Page a) The Illustrative Valuation box is meant for information only. The real key is the Sources & Uses of Funds. The Illustrative Valuation should be a snapshot of the current valuation of the entire company (even if less than 100% purchase). b) You can hard code the Equity Contrib... Read More
Re: Complex Comps - SHLD - EPS before vs after acctng change
Yes, the idea is that accounting changes are considered one-time items that need to be normalized for comparison purposes. in that particular year, all retailers and real estate-related firms had to comply with that accounting changes for improvements, so while ALL firms had to do that change that y... Read More
Yes, the idea is that accounting changes are considered one-time items that need to be normalized for comparison purposes. in that particular year, all retailers and real estate-related firms had to comply with that accounting changes for improvements, so while ALL firms had to do that change that y... Read More
RE: How do I simplify sensitivity analysis in a financial model?
Regarding your question on the sensitivity - this is actually something that is covered in detail in our Advanced Excel for Data Analysis class! You basically want to create an inputs page of scenarios that list all the different variables. Then using the choose function, you set the case and th... Read More
Regarding your question on the sensitivity - this is actually something that is covered in detail in our Advanced Excel for Data Analysis class! You basically want to create an inputs page of scenarios that list all the different variables. Then using the choose function, you set the case and th... Read More
Re: Revenue Sensitivity
Use the CHOOSE function instead of nested IF statements!
Take a look at: http://www.wstselfstudy.com/youtube.html
and then scroll down to video #19.1: Technical Applications - Excel and More
Use the CHOOSE function instead of nested IF statements!
Take a look at: http://www.wstselfstudy.com/youtube.html
and then scroll down to video #19.1: Technical Applications - Excel and More
RE: How does one correctly calculate Days Payable Outstanding?
You are absolutely correct that the traditional formula for DPO uses COGS. However, that's straight from the textbooks and assumes that AP is trade payables. The vast majority of financials in 10Ks are presented with AP inclusive of trade payables as well as other acccrued expenses and liabilities a... Read More
You are absolutely correct that the traditional formula for DPO uses COGS. However, that's straight from the textbooks and assumes that AP is trade payables. The vast majority of financials in 10Ks are presented with AP inclusive of trade payables as well as other acccrued expenses and liabilities a... Read More
RE: LBO enhanced model question
You have ask yourself, what is the new Balance Sheet that you are buying? Because the old debt never makes it into the deal, you don't want to include it on the actual, historical BS else you won't balance correctly as you noted. If you are only buying the assets, you have to recast the balan... Read More
You have ask yourself, what is the new Balance Sheet that you are buying? Because the old debt never makes it into the deal, you don't want to include it on the actual, historical BS else you won't balance correctly as you noted. If you are only buying the assets, you have to recast the balan... Read More
RE: stock trading
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Re: Enhancements to the core model - Part II tax schedule
Yes, correct. Except that technically DTA and DTL changes are not part of working capital - they usually fall under "non-cash items". Still under CFO category, but below NI, above working capital. Remember, anything that changes on the BS must change somewhere on the CFS.
Yes, correct. Except that technically DTA and DTL changes are not part of working capital - they usually fall under "non-cash items". Still under CFO category, but below NI, above working capital. Remember, anything that changes on the BS must change somewhere on the CFS.
Re: Advanced Excel for Data Analysis--newer version?
We're glad to hear you like our courses. We are planning to have them all in the new version of excel, but unfortunately they are not ready yet. The good news is that almost everything is exactly the same, in terms of keystrokes. We have a course on transitioning from Excel 2003 to Excel 2007 and ... Read More
We're glad to hear you like our courses. We are planning to have them all in the new version of excel, but unfortunately they are not ready yet. The good news is that almost everything is exactly the same, in terms of keystrokes. We have a course on transitioning from Excel 2003 to Excel 2007 and ... Read More
No, the formula stays the same. Never changes. The excess cash that is built is naturally captured through the cash flow statement. You do not want to pay down revolver past negative and no need to borrow either!