Embark on a comprehensive exploration of financial analysis for valuation and M&A. Learn essential techniques such as trend, ratio, and benchmark analysis, understanding the impact of reliable financial information on valuation. Navigate the M&A/valuation balance sheet intricacies, distinguishing between operating and non-operating assets, cash-free, debt-free net working capital, and their implications. Under expert guidance, master economic earnings measurement, comprehend normalizing and control adjustments, and recognize their pivotal roles in valuation and M&A. Simultaneously, gain insight into external and internal factors influencing Enterprise Value and Transaction Price. Uncover intricacies of market dynamics, industry trends, and company-specific attributes shaping valuation and transaction structures. Identify the business's market, involved buyer types, and their impact on transaction pricing and valuation. Develop skills to recognize risk factors, value drivers, and strategies for optimizing overall value. Explore effects of transaction structure on buyers and sellers, including stock versus asset sales, tax considerations, and their influence on buyer value and seller proceeds. The course also sheds light on how factors like debt, taxes, and non-cash considerations play a crucial role in shaping overall value.

Class Objectives:

• Identify the objectives of financial analysis in valuation and M&A 
• Understand techniques utilized including trend, ratio and benchmark analysis 
• Understand how the quality and reliability of financial information impacts financial analysis for valuation and M&A 
• Understand the M&A/valuation balance sheet and identify operating and non-operating assets 
• Understand cash-free, debt free net working capital and impact on valuation and M&A 
• Identify appropriate measurement of economic earnings and its use in valuation and M&A 
• Identify normalizing adjustments and control adjustments and their impact on valuation and M&A 
• Understand the connection between the M&A/valuation balance sheet and the structure and terms of an M&A transaction
• Identify external and internal factors that may impact Enterprise Value and Transaction Price 
• Understand how market, industry, company specific, and potential buyer impact valuation and transaction price and structure 
• Identify the market for the business, type of buyers, and impact on transaction price and valuation 
• Identify risk factors, value drivers, and strategies to maximize value   
• Understand the impact of transaction structure on the buyer and seller   
• Understand the effect of stock vs. asset sales, tax structure and their impact on value to the buyer and proceeds to the seller 
• Identify how debt, taxes, and non-cash consideration impact value