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 2019 Advanced Topics Brochure (PDF)

In response to requests for more intermediate and advanced level training, we have taken our most popular advanced training sessions, and packaged them into an Advanced Topics series. The series is specifically designed for those with prior work experience in valuation and financial modeling or have taken our Valuation and Financial Modeling workshops. Each topic is covered in ~2.5 hour module during the course of one day.

To register or to view training locations and date options, please see our course calendar.

Course Pricing:

  • Early Registration: $1,100 per day (register at least 14 days in advance)
  • Standard Registration: $1,300 per day
  • Group rates are available
  • Discounts offered to existing clients

Please contact info@trainingthestreet.com for more information

Advanced Topics Outlines

Module 1:

  • Deferred Tax Liabilities
  • Deferred Tax Assets
  • Deferred Taxes Created in Purchase Accounting
  • Modeling Deferred Taxes
  • Case Studies of Financial Disclosure
  • DTLs from Equity Investments
  • Primer on NOLs and Valuation Allowance
  • Overview of PIK’s, Warrants, and Recaps
  • “Payment-in-Kind” (PIK) Instruments
  • Mezzanine Financing with Warrants
  • Conceptual Understanding and Motivations of “Recapitalization Analysis”
    • Leveraged Recap
    • Special Cash Dividend
    • Share Repurchase
  • Introduction to Subsidiary Redeployment
  • Equity Carve-Outs
  • Spin-Offs
  • “Reverse Morris Trust” Structure
  • Split-Offs
  • Split-Ups
  • Tracking Stocks
  • Cash Rich Split-Offs

Module 2:

  • Overview of Intercorporate Investments
  • Equity Method (Equity Investments):
    • Overview and Introduction
    • Impact on Financial Statements
    • Case Study of Financial Disclosures
    • Modeling Considerations
    • Valuation Considerations
  • Minority Interest (Noncontrolling Interests):
    • Overview and Introduction
    • Impact on Financial Statements
    • Case Study of Financial Disclosures
    • Modeling Considerations
    • Valuation Considerations
  • Overview of Complexities
  • Enhancements with Modeling Debt Instruments
  • Multiple Layers of Debt
  • Multiple “Cash Sweeps”
  • Modeling LIBOR floors
  • Commitment Fees
  • Covenants
  • Overview of Alternatives
  • Divestitures:
    • Impact on Financial Statements
    • Modeling Considerations
  • Asset Purchase:
    • Advantages and Disadvantages
    • Valuing the Tax Savings Stream
    • Deferred Tax Impact
  • Stock Purchase
  • Section 338/338(h)(10) Elections
  • Comparing Asset Purchase vs. Stock Purchase

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