Wall Street Prep – The Impact of Tax Reform on Financial Models
Description of The Impact of Tax Reform on Financial Models
Understand how to modify pitchbook and deal models to reflect tax reform
TCJA impacts far more than the headline tax rate reduction. This course shows investment bankers and private equity professionals how the financial models they use to support M&A and LBO transactions need to be revised to reflect new limits on interest expense deductions, bonus depreciation and changes to NOL rules.
What will you learn in The Impact of Tax Reform on Financial Models?
Part 1: Financial Statement Model Impacts
- Overview of the Changes in TCJA
- Modeling Bonus Depreciation
- Modeling Interest Carryforward Limits
- Modeling EBIT and EBITDA Tests
- Modeling NOL Limits
Part 2: Valuation Model Impact
- Overview of Tax Reform Impact on Valuation
- Adjusting Free Cash Flows, WACC and Terminal Value Calculations for TCJA
- How to Deal with NOLs and Carryforwards
Part 3: M&A and Private Equity
- Impact on LBO Models
- Impact on M&A Deal Structures
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