Public Course

M&A Accounting and Analysis Fundamentals

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  • What you'll learn
  • Course Information
  • Venue
  • Prerequisites
  • Reviews
  • What you'll learn
  • M&A Accounting

    During this session participants learn the accounting rules to incorporate equity investments in the consolidated accounts and work on several examples by preparing proforma financials for a variety of cases. Complexities such as non-controlling interests and equity method investments (associates / affiliates), and their impact on earnings and cash flows are also covered.

    Learning outcomes

    • Accounting rules for equity investments
      • Fair value through profit and loss investments
      • Available for sale investments
      • Equity method investments (associates/affiliates)
      • Proportional consolidation
      • Full consolidation
      • Non-controlling interest
    • Consolidation of balance sheet and income statement
    • Impact of an M&A transaction on earnings
    • Goodwill calculations
    • Goodwill impairment test
    • The impact of deal financing

    M&A Analysis Fundamentals

    This session covers the basic steps of analyzing an acquisition - covering the impact of a deal on the financial statements with a particular focus on EPS, PE and contribution analysis. By the end of the session, the class builds an accretion / dilution model using EPS forecasts and acquisition assumptions, proforma leverage ratios and a proforma balance sheet.

    Learning outcomes

    • Big picture: what is the transaction impact on acquirer and target shareholders?
    • Preparing key acquisition data
    • Building a flexible funding structure
    • Modeling acquisition adjustments
    • Calculating the accretion/dilution effects of the deal
    • Understanding the significance of relative P/Es
    • Calculating and understanding contribution analysis
    • Ownership issues
    • Income statement contribution
    • Credit issues and leverage ratios
    • The strategic implication of different financing alternatives
    • Synergies and synergies needed to break even
    • Proforma balance sheet
    • Sensitivity and scenario analysis
  • Course Information
  • 9.00am - 5.00pm GMT

    1 day (non-exam)

    • Venue
    • London: Tenter House, 45 Moorfields, London EC2Y 9AE

    • Prerequisites
    • A solid understanding of the topics covered by our courses in Financial Statement Analysis and Financial Modeling are desirable:

      Financial Statement Analysis

      Financial Modeling

      • Financial Modeling - Fundamentals
      • Financial Modeling - Cash Sweep and Troubleshooting
      • Financial Modeling - From Scratch
    • Reviews
    • Find our reviews here:

      Pre-Requisites

      Who should attend?

      New hires who have joined the firm late and missed the in-house program

      Individuals looking to fill a knowledge gap

      Experienced bankers looking to refresh their technical skills

      Teams employed in financial strategy roles from non-banking corporations

      Graduates preparing to interview for a role in the finance sector

      Students at business school and looking for a career in finance

      What to use

      You need to use a Windows-based laptop for the training with Excel and Adobe installed on your system to access your course files. Our teaching materials are designed for PCs and not MAC based systems. Download details for the necessary files will be emailed a few days before the course. You can use any version of MS Excel in class. Please inform us of your Excel version when booking your course.

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