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Additional Posts in Transaction Services, M&A, Deal Advisory
TAS hours ain’t no joke boi
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Subject Expert
Every time
For sure they are. Just takes a while to get used to them, when I first started everyone said start with QoE that impact NWC to get the easy ones and then ask the manager to help ID the other NWC adjustments
Community Builder
I just wanna get better at my job. Feeling like im dragging down my team😭
https://www.google.com/url?sa=t&source=web&rct=j&url=https://rsmus.com/pdf/wp_tas_cash_free_debt-free_transactions.pdf&ved=2ahUKEwiO24rtzPP5AhU9k2oFHbzSB-cQFnoECBUQAQ&usg=AOvVaw2MjRb5iYtSI9eftZY9zwey
Mentor
Agreed
They are - don't sweat it. Keep leveraging prior deals/reports to try and wrap your mind around them. It'll click
I’ve been doing FDD for a 1.5 years now, and I still get hang up on it.
If your change in adjusted NWC = your ebitda adjustment you’re golden
You’re essentially just removing all cash, debt, accrued interest, non-operating items, non-recurring items and out-of-period items from CA or CL accounts. Plus you need to calculate any NWC impact from your QE adjustments and you’re done. Obviously things can get more complex with messy deals, but that is the typical process I go thru when approaching NWC.