Accounting for M & A, equity, and credit analysts

著者

    • Morris, James E.

書誌事項

Accounting for M & A, equity, and credit analysts

James E. Morris

McGraw-Hill, c2004

タイトル別名

Accounting for mergers and acquisitions, equity, and credit analysts

Accounting for M and A, equity, and credit analysts

大学図書館所蔵 件 / 全17件

この図書・雑誌をさがす

注記

Includes index

内容説明・目次

内容説明

This book offers everything investment professionals need to know about accounting - in a practical desk reference format. In today's world of constantly changing accounting rules, models, and practices, investment professionals need an authoritative, all-in-one, fast-access reference for the latest knowledge and information. "Accounting for M&A, Equity, and Credit Analysts" provides comprehensive and easy-to-understand answers to the everyday accounting questions that come up time and again in the investing arena. Noted M&A accounting authority James E. Morris has spent years dispensing accounting advice on Wall Street, and he knows which questions consistently baffle even the most experienced investment pros.He answers those questions and hundreds more as he provides clear and concise explanations of areas including: subtle, less understood aspects of common accounting areas and procedures; purchase accounting for business combinations - essential not only for M&A analysts but for credit and equity analysts as well; and, accounting for employee stock options, and its effect on both earnings and cash flow. Today's investment accounting landscape is undergoing tumultuous and unprecedented change. Professionals who fail to keep up with that change risk being left behind. "Accounting for M&A, Equity, and Credit Analysts" updates you on virtually every important facet of investment accounting, and provides the handy reference you need to instantly know what the numbers are really saying to you--and, just as important, what they are not.'This is not, by any means, another financial accounting textbook. Instead, I intend it as a sort of spotlight, illuminating what I have found in my investment experience to be the 'black holes' of accounting. It is merely the collected answers to the questions that analysts (associates, vice presidents, managing directors and clients as well) have asked me during the time I spent giving accounting advice on Wall Street' - From the Preface. Investment professionals too often regard the acquisition of accounting knowledge as a necessary evil - and, therefore, too often know less than they should. This lack of knowledge often leads to simple misunderstandings or even out and out errors that, at best, serve as minor speed bumps in a high-stakes transaction and, at worst, lead to the delay or even derailing of the deals in question."Accounting for M&A, Equity, and Credit Analysts" helps investment professionals as well as undergraduate and graduate students of and investment banking ensure that they will always be able to quickly and confidently get their hands on the right answers to virtually every accounting question. Providing easy-access accounting information without needless detail and CPA doublespeak, this invaluable reference distinguishes itself from other texts of its type in four major areas as it: bypasses common-knowledge accounting basics to concentrate only on information vital to investment analysts; takes an investment banking perspective as opposed to one solely focused on Generally Accepted Accounting Principles (GAAP) and reporting; integrates financial modelling and spreadsheet approaches that are essential to forecasting and analysis; and, provides in-depth coverage of items in enterprise valuation and business combination transactions.In the investment profession, few factors are as valuable or overlooked as solid knowledge in accounting. Unfortunately, when professionals seek to increase their accounting expertise, they are too often faced with either cartoonish workbooks or incomprehensible, 600-page textbooks. "Accounting for M&A, Equity, and Credit Analysts" provides investment professionals, analysts, and bankers with only the information they need to understand how accounting impacts their everyday environment. The first investment accounting desk reference to bridge the gap between what is taught in business school and what is actually needed in the real world, it allows investment pros to focus on and truly understand the vital accounting details they encounter every day - and helps them ensure that minor accounting misunderstandings or mistakes won't mushroom into major deal-killers.

目次

Introduction List of Abbreviations Chapter 1 Equity Method of Consolidation Introduction Description of the Equity Method Tax Considerations When Using the Equity Method Accounting under the Equity Method-Excess of Cost over Equity Purchased Accounting under the Equity Method-Intercompany Transactions Guidance for Applying the Equity Method SEC Staff Views Concerning the Equity Method When to Use the Equity Method-Summary Accounting for Cash Flows from Equity Method Investments Modeling the Equity Method of Accounting in Projection Models Chapter Summary Chapter 2 Minority Interests Introduction Minority Interests Overview of Accounting for Minority Interests Treatment of Minority Interests for Enterprise Valuation Forecasting Minority Interests Treatment of Minority Interests in M&A Transactions Modeling Minority Interests Chapter Summary Chapter 3 Deferred Income Taxes and Income Tax Reporting Introduction Basic Principles of Tax Reporting The First Principle The Second Principle The Third Principle The Fourth Principle Treatment of Deferred Income Tax Items in M&A Transactions Modeling Income Taxes in Projection Models Calculating the Provision for Taxes-Detailed Calculation Chapter Summary Chapter 4 Deciphering the Deferred Tax Footnote Introduction Financial Statement Disclosure for Income Taxes Reconstructing Deferred Taxes on the Financial Statements Problems with Ratio Analysis Valuation of Deferred Tax Items Chapter Summary Chapter 5 Estimating the Tax Basis of a Firm's Assets Introduction Factors Affecting Differences Between Asset's Book and Tax Bases Depreciation (or Amortization) Using Different Schedules Recognizing Asset Impairments Transaction Fair Value Adjustments Asset Sales or Deemed Asset Sales Estimating the Tax Bases of Target Company's Assets-Known Balance Sheet Estimating the Tax Bases of Target Company's Assets-Unknown Balance Sheet Chapter Summary Chapter 6 Pension and Other Postretirement Benefits Introduction Pension versus Other Postretirement Benefit Plans Types of Pension Plans Economic Objectives of Pension Plans How Pension Plans Work Net Periodic Pension Cost Minimum Pension Liability Pension Benefits Summary Other Postretirement Benefit Plans Net Periodic Postretirement Benefit Cost Effects of Business Combinations Chapter Summary Chapter 7 Deciphering the Pension Footnote Introduction Pension Benefit Disclosure Requirements Benefit Obligation Reconciliation Plan Fair Value Reconciliation Employer Securities Included in Plan Assets Net Periodic Benefit Cost Disclosure Funded Status and Unrecognized Items Rate Disclosures Health Care Disclosures Chapter Summary Chapter 8 Analyzing the Firm's Pension Cash Flows Introduction Estimating Future Funding Cash Flows Employer Company's Plan Assets and Liabilities in an Acquisition Plan Liquidation Values Chapter Summary Chapter 9 Employee Stock Options Introduction The Intrinsic Valuation Method The Fair Value Method Evaluating the Firm's Inputs to the Option-Pricing Model Tax Effects of Employee Stock Options Calculation of Diluted Earnings per Share for Companies Expensing Stock Options Accounting for Target Stock Options Rolled Over in a Purchase Acquisition Projecting Earnings Per Share (EPS) for Option-Intensive Firms Chapter Summary Chapter 10 Restructuring Charges Introduction FASB's New Changes to Financial Accounting for Restructuring Charges Restructuring Charges-U.S. GAAP Restructuring Charges-International Accounting Standards Disclosure of Restructuring Charges Restructuring Liabilities in Business Combinations Chapter Summary Chapter 11 Discontinued Operations Introduction How Results of Discontinued Operations Impact Earnings from Continuing Operations Sources of Classification Bias Criteria for Classifying Items as Discontinued Operations The Operations Being Discontinued-Component of a Business Disposal Criteria International Accounting Treatment of Discontinued Operations Chapter Summary Chapter 12 Net Operating Loss Deductions Introduction Net Operating Loss Deductions Other Tax Considerations Relating to NOLs M&A Considerations Relating to NOLs NOL Effects on Financial (GAAP) Reporting Valuation Considerations Modeling NOL Carrybacks and Carryforwards Chapter Summary Chapter 13 Purchase Accounting for Business Combinations Introduction Purchase Accounting Basics Calculating Target Company's Net Identifiable Assets The Net Identifiable Assets Calculation Calculating the Purchase Price Transaction Fees Fair Value of the Consideration Given Calculating Goodwill Negative Goodwill Amortization of Goodwill Accretion and Dilution of Earnings Pro Forma Presentation (as If Combined) Statements of Cash Flows Following Business Combinations Limitations on the Use of Target Company's Net Operating Loss (NOL) Carryforwards Effects on Minority Interests in Business Combination Transactions Chapter Summary Chapter 14 Deemed Asset Sales under IRC Sections 338(h)(10) or 338(g) Introduction Overview of the Section 338(h)(10) Election Benefits of Section 338(h)(10) Sales Determining the Sale Price for a Section 338(h)(10) Election Modeling Section 338(h)(10) Transactions Chapter Summary Glossary Endnotes Index

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