This course is offered only once during the fall semester. It will not be offered in Spring 2022. The old name for this course was "Modeling Corporate Transactions."

All class emails are sent to the email address per the NYU Brightspace roster. The Almaris system (if used for your class) also uses the same email. NYU Brightspace lists @nyu.edu email for some of you and @stern.nyu.edu email for others. I don’t control these matters, nor can I change them. Please contact NYU IT (212-998-3333) or NYU Stern IT (212-998-0180) to learn how to read/forward/check spam for @nyu.edu as well as @stern.nyu.edu accounts. Contact them for all ZOOM/email/NYU Brightspace/Admin/CapitalIQ issues. If NYU/Stern support cannot help you, please escalate these matters to Student Affairs/Dean's office without involving me. I will not respond to support requests. Almaris support cannot change emails. You can do so by clicking on the link "Change email" on their main login page.

Fall 2021 [MBA only course]: Monday evenings from 6-9 PM. I will teach this course in person, but I will also turn on Zoom. You are encouraged to attend in person, but you are welcome to attend via Zoom.

Overview

Prerequisite: Modeling Financial Statements aka Financial Statement Modeling

MBA ACCT-GB-3344 specializations:

Undergrad ACCT-UB-0044 concentration: Accounting

You will learn to model salient corporate events such as acquisitions, leveraged buyouts, public offerings, projects, and securitizations. The course also covers the necessary accounting details.

This course is highly relevant for bankers, private and public equity investors, lenders, corporate finance professionals, project financiers, and consultants. The conceptual, practical, and technical knowledge gained in this course can give you a significant competitive edge during your interviews, internships, and jobs.

The salient topics covered are as follows:

Prerequisites and system requirements

Help and Office

Materials and Course Design

Assignments

Exams and Grading

Important computer tips for the final

Schedule

1. Acquisitions: Identifying and modeling synergies

Revenue-related synergies

Expense-related synergies

2. Acquisitions: Modeling consideration paid and acquired assets

Consideration paid

Modeling acquired assets

Modeling acquired pre-tax liabilities

Modeling deferred tax liabilities and assets

Goodwill

3. Acquisitions: Drivers of accretion and dilution

4. Leveraged buyouts: Modeling changes in capital structure

Identifying LBO targets

Modeling sources of financing and their waterfall

Modeling exit strategies and multiples

5. LBO: Modeling advanced debt and equity structures

6. Bankruptcies

7. Step acquisitions and non-controlling interest

8. Modeling corporate breakups

9. Modeling project finance

10. Modeling tax-efficient structures

11. Modeling securitizations

12. Final exam

For Langone classes (evening), the final exam is in the last class. For day classes, the final exam is as per the time set by the registrar. Please check the registrar's website.