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Course details
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
“It’s great to have access to the AMT online platform. I found the videos and quizzes really useful to refer back to after my public course. The videos in particular were simple and easy to understand.” ~ analyst, private equity firm
Virtual Classroom
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1 day ( exam )
Who should attend the course?
- 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