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.
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