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Advanced Topics


 

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.

 Virtual Learning Option

We have been leading virtual training seminars for years and know it takes more than just sending out a Zoom link to deliver a robust virtual learning program.  TTS has the experience and capabilities to deliver the same effective programs in a safe virtual setting. Our instructors weave a unique blend of technology, pedagogy, and content to create an interactive experience that’s engaging and effective. To make our virtual classrooms come alive, we use these strategies and tools:

  • Dynamic mixture of instructor-led, self-led, and group activities
  • On-demand virtual access to instructors and teaching associates
  • Proactive and frequent student check-ins to make sure no student gets lost
  • Breakout rooms for group collaboration and one-on-one support 
  • Interactive polls, games and competitions

Pricing

    • Early Registration: $400 per module (register at least 14 days in advance)
    • Standard Registration: $500 per module
    • Group rates are available
    • Discounts offered to existing clients

Module Outlines

Deferred Taxes

  • 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

PIK’s, Warrants, and Recaps

  • 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

Public Market Separation Techniques

  • Introduction to Subsidiary Redeployment
  • Equity Carve-Outs
  • Spin-Offs
  • “Reverse Morris Trust” Structure
  • Split-Offs
  • Split-Ups
  • Tracking Stocks
  • Cash Rich Split-Offs

Advanced Troubleshooting and Switches

  • How to quickly fix a broken model (controlling for #VALUE & #REF errors)
  • CIRC switches
  • How to build scenarios / sensitivities into a model (CHOOSE & OFFSET functionality)
  • Creating summary output (e.g., self-referencing circular IF statement)
  • Advanced Data Table complexities

Intercorporate Investments

  • 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
  •  

Complexities with Modeling Debt

  • Overview of Complexities
  • Enhancements with Modeling Debt Instruments
  • Multiple Layers of Debt
  • Multiple “Cash Sweeps”
  • Modeling LIBOR floors
  • Commitment Fees
  • Covenants

Divestitures & Acquisition Structure Alternatives

  • 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

Schedule

2:30 pm to 5:00 pm Eastern Time (NYC)

Prerequistes

Participants must have valuation and financial modeling experience from prior work experience or have taken one of TTS’s Valuation and Financial Modeling workshops. Participants are also expected to be proficient with Excel.

Cancellation Policy

Cancellations up to 14 days before the training will receive a full refund. Cancellations within 14 days will not be refunded. TTS reserve the right, at its sole discretion, to cancel a course. If TTS cancels a course, payments are refunded in full.

Questions? Please contact info@trainingthestreet.com for more information.