Posts by: WST Expert 1
Re: Enhancements to the core model - Part II tax schedule
Please refer to our Accounting & Financial Statements Bootcamp course for accounting fundamentals.
http://www.wstselfstudy.com/accountingboot.html
Please refer to our Accounting & Financial Statements Bootcamp course for accounting fundamentals.
http://www.wstselfstudy.com/accountingboot.html
Re: Saving macros across workbooks in 2007
In addition, per previous post communication, the reduced functionality of Excel 2007 can be blamed on Microsoft!
viewtopic.php?f=8&t=582&p=1417#p1417
In addition, per previous post communication, the reduced functionality of Excel 2007 can be blamed on Microsoft!
viewtopic.php?f=8&t=582&p=1417#p1417
RE: How do I model out zero-coupon accretion / PIKs?
To answer your question on the best practices of treating discounted notes that accrete: you do have the right approach to a discount bond, which would also apply in the case of PIKs: 1) Increase Interest Expense on the Income Statement (via the Interest Schedule) by the amount of the accretion. ... Read More
To answer your question on the best practices of treating discounted notes that accrete: you do have the right approach to a discount bond, which would also apply in the case of PIKs: 1) Increase Interest Expense on the Income Statement (via the Interest Schedule) by the amount of the accretion. ... Read More
RE: Is DCF a pre- or post-tax value?
You run both methods (per the training) to make sure the numbers are fairly consistent. In that sense, it's comparable.
You run both methods (per the training) to make sure the numbers are fairly consistent. In that sense, it's comparable.
RE: How to calculate CAPM for emerging markets?
easy answer - take our emerging mkts class! seriously though, great question with easy answer - make sure that when you grab the beta from bloomberg that you use S&P 500 as your index as opposed to the default which may be FTSE 100. rationale - as you noted, you DO want to capture country spe... Read More
easy answer - take our emerging mkts class! seriously though, great question with easy answer - make sure that when you grab the beta from bloomberg that you use S&P 500 as your index as opposed to the default which may be FTSE 100. rationale - as you noted, you DO want to capture country spe... Read More
Re: The Financial Modeling Process
The Cash Available / (Required) Before Debt is calculated by taking the summation of Cash From Operating Activities (CFO); Cash From Investing Activities (CFI); and Cash From Financing Activities (CFF). In the case of our model, CFO, CFI, and CFF should equal $17274; (17,500); and (6,000), respectiv... Read More
The Cash Available / (Required) Before Debt is calculated by taking the summation of Cash From Operating Activities (CFO); Cash From Investing Activities (CFI); and Cash From Financing Activities (CFF). In the case of our model, CFO, CFI, and CFF should equal $17274; (17,500); and (6,000), respectiv... Read More
RE: How do I treat Deferred Maintenance Revenues in TEV?
Normally speaking, TEV focuses only on capital structure and "sources of funds". In other words, it focuses on valuation of entities. However, your question focuses on a "working capital", "day-to-day operations" of the company as opposed to capital structure. Thus, without knowing more about the sp... Read More
Normally speaking, TEV focuses only on capital structure and "sources of funds". In other words, it focuses on valuation of entities. However, your question focuses on a "working capital", "day-to-day operations" of the company as opposed to capital structure. Thus, without knowing more about the sp... Read More
RE: Is DCF a pre- or post-tax value?
Bingo. Remember our wmt discussion (via online I think) where perpetuity wasn't a great approach for wmt b/c capex didn't equal depreciation at all so not applicable since not at "true" steady growth run-rate. But u still need to run the numbers to validate or provide reason for non-importance. Also... Read More
Bingo. Remember our wmt discussion (via online I think) where perpetuity wasn't a great approach for wmt b/c capex didn't equal depreciation at all so not applicable since not at "true" steady growth run-rate. But u still need to run the numbers to validate or provide reason for non-importance. Also... Read More
RE: Why is there a holding company discount?
Short Answer: Corporate overhead allocation and inefficiencies. Longer Answer: Clearly, conglomerates exist under the context of "economies of scale" (increased purchasing power, lower cost of capital, etc) but there is a cost to coordinating all the activities. "Sum-of-the-parts" valuation many... Read More
Short Answer: Corporate overhead allocation and inefficiencies. Longer Answer: Clearly, conglomerates exist under the context of "economies of scale" (increased purchasing power, lower cost of capital, etc) but there is a cost to coordinating all the activities. "Sum-of-the-parts" valuation many... Read More
If its a true asset deal, you are buying an asset and there's no goodwill. If the lawyer says otherwisen go with the lawyer as they presumbaly have viewed deal specific structure. It also depends on if its a 338(h)(10) election and if so, there is goodwill as that is a tax election. In short, too ma... If its a true asset deal, you are buying an asset and there's no goodwill. If the lawyer says otherwisen go with the lawyer as they presumbaly have viewed deal specific structure. It also depends on if its a 338(h)(10) election and if so, there is goodwill as that is a tax election. In short, too many variables - we've covered the basics in our M&A Deal Structuring video course.
The error may be due to your starting point or your assumptions. Unfortunately we would not be able to troubleshoot your specific model further.
Yes, follow the same logic for the new det as the term loan - excess cash available (if any) is now initial cash + revolver changes + term loan so it gets cumulative. Read More