What are the best ways to learn RX Consulting

There isn’t a “comprehensive” book or course etc that teaches you to be a restructuring consultant. Your best bet is to study traditional RX IB materials, and that’ll take care of the financial part. For the other part, do Strat/ mgmt consulting case studies, and a bonus would be corp finc stuff.

If you have LMM PE experience then you should have 3-Statement and LBO modeling down. Next step is to get practice on 13 week cash flow modeling, there are a number of training programs and case studies out there for this (on WSO and other sites with financial modeling training). After that I would say understand how lenders think from a credit perspective, also understand what an ABL revolver and borrowing base is. Then research some out of court restructuring cases and in-court restructuring cases (in-court will be easier to find through bankruptcy filings or various social media accounts that post about this). No one is going to expect you to be an expert in all these areas coming out of college, but if you can do the modeling well, and generally speak to the other topics, you will put yourself in a good position.

Side note on case studies. Don't waste your time doing Strat/Management consulting cases. Strat/Management consulting is nothing like Rx/Turnaround consulting, they are two completely different ends of the spectrum. You should be able to find some Rx/Turnaround case studies, if not LBO/PE case studies will be much better prep than any strategy/management consulting case studies out there. Any case study you get in the interview process for Rx/Turnaround will either involve a 13 week cash flow or LBO style model. 

When you say "learn consulting", I assume based on your last sentence you are referring to MBB consulting. The answer is no. You will not get any brain-teaser type case studies that you would get in an MBB interview or see in MBB interview prep materials. You will however get a case study that involves a company in some sort of distress, and you will need to forecast liquidity under various assumptions and likely come up with some type of recommendation. This could be an in-court (bankruptcy) or some combination of out of court solutions (google and chat GPT are your friend here, but you should be finding terms like "amend and extend", LMEs, etc). Depending on the Rx firm and its size they may want you to forecast short term liquidity using a 13 week cash flow and come up with operating or financial changes the company can make. Or they may want a medium to long term look using a three-statement model or refinancing model (similar to LBO). I doubt it would involve both of those modeling scenarios, it will likely be one or the other. But you should be prepared for both. I have also seen one firm that just gave a general LBO case study.

You won't be tested on proper recording of debits and credits and other similar accounting concepts in the interview process. Once in the industry, you will need to gain a better understanding of accounting. You don't need a CPA, but you need to have a basic understanding of standard accounting concepts as you progress. This is something you can build in your career and no one will expect you to have it down when you arrive. That being said, some firms value CPAs more than others and may be looking to fill some roles that require more of an accounting background, but that isn't the norm from my experience. A well-rounded finance background with a good grasp of accounting concepts is much more valuable in my opinion

If you can build an LBO model and 13 week cash flow from scratch, while speaking to resulting liquidity issues and offering a couple potential solutions,  you are already way ahead of most candidates in my opinion, even if they have a CPA. Bonus points if you can speak to a couple real world bankruptcies/restructuring cases. One last random thing to add, understanding what impacts working capital (AR, Inventory, AP, completing roll-forwards for each, etc.), is also big. But no one is going to have you fill out T-Charts or speak to proper revenue recognition in the interview process. 

sorry if the formatting is fucked, made this post from my phone.
If your looking for books, here are a bunch, a lot of RX IB/distressed investing focus, but may be of use (a lot of these lists are compiled from other people):

category:

Book Name - author - price (discount price I have seen on, both prices from Amazon)
 

Credit/Distressed:

The Credit Investor's Handbook - Michael Gatto - 95 (60)

Distressed Debt Analysis by Stephen Moyer - 120 (72)

Distressed Investing - Martin Whitman, Fernando Diz - 73 (34)

Creating Value through Corporate Restructuring - Stuart Gilson - 105 (52)

The Art of Distressed M&A - Peter Nesvold, Jeffrey Anapolsky, Alexandra Lajoux - 97 (73)

Dead Companies Walking - Powell Fearon - 20 (15), (not sure where to put this one)

Buying and Selling the Troubled Company - Houlihan Lokey - online PDF (free)

CIT Group and Oaktree - HBR Case - 17 (for A and B, PDF format)

Credit/Distressed(Narrative/History):

The Predators' Ball - Connie Bruck - 17

The Vulture Investors - Hilary Rosenberg - 73 (65)
Default - Gregory Makoff - 30

The Caesars Palace Coup - Max Frumes, Sujeet Indap - 20 (18)

Corporate Law Books:

The Anatomy of Corporate Law: A Comparative and Functional Approach - Kraakman et al. - 120

Working With Contracts: What Law School Doesn't Teach You - Charles Fox - 35

The LSTA's Complete Credit Agreement Guide (Second Edition) - Michael Bellucci, Jerome McCluskey - 134 (85)

RX podcasts:

Debtwired

The Restructuring Room

credit edge

FICC

Restructure This by Sheppard Mullin

Plus, in the thread linked below, distressed industrial buyer posted two more list of RX CO focused books “Books On Distressed Management” by m_1

https://www.wallstreetoasis.com/forum/private-equity/books-on-distressed-managementHere you go...

Corporate Turnaround by Donald Bibeault. Probably the best. This text makes up most of the study material for the management part of the CTP (Certified Turnaround Professional) exam. The study materials run $200 while this book is probably $30.

Turnaround by Arnold Goldstein. A down to earth book written for the business owner. Contains several non-textbook sections such as Defensive Positioning and the Dump Buyback. The author is a lawyer, PhD and a prolific writer.

The Phoenix Effect by Carter Pate and Harlan Platt. A good book that is part textbook and part instructional. Bigger picture advisory, not tactical.

The Six-Month Fix by Gary Sutton. Enjoyable chest thumping and semi- instructional.

Be Your Own Turnaround Manager by Bob Foster. It reads well and is a true instructional for the entrepreneur. Lots of checklists and details.

The Turnaround Kid by Steve Miller. Interesting but not instructional.

Taking Charge by John Whitney. An older publication that still rings true today.

The Turnaround Survival Guide by David Silver. Like Goldstein, Silver is a prolific author with plenty of real-life tips and tricks.

Bankruptcy Fundamentals for the Financial Services Industry by Debra Lee Hovatter published but the American Bankruptcy Institute. Solid primer on the subject.

How Not to Hire a Guy Like Me by Lee Katz. A quick read by a veteran turnaround guy.

Take No Prisoners by Marvin Davis. Written for business operators on how to run a tight, profit focused business. Covers everything from the basics to governance and Bankruptcy.

Reversing the Slide by James Shein. This is a great book from a guy who is both a real turnaround manager and a professor of turnarounds at Kellogg.

How to Turnaround a Financially Troubled Company by Ronald Kibel. Old and out of print.

The Small Business Turnaround Guide by Sandy Steinman. More of a tune-up than turnaround book.

Failure is Not an Option by Philip Varley. Basic cost cutting measures with little cash, banking or legal artistry. Private pilot metaphor.

Business Turnaround Methods by Andre Larabie. Exceptional sections on Debt Settlement. Good overall book with a real understanding of an entrepreneur’s experience through insolvency.

Redesign to Turnaround Underperforming Small and Medium-Sized Businesses by Regis Quirin. Not memorable

Corporate Turnaround, Managing Companies in Distress by Stuart Slatter and David Lovett.

Inside the walls of One of the Greatest Turnaround Stories of the 21st Century by J. Dough Pruitt and Richard Condit. The authors are super impressed with their one and only turnaround.

Business Turnaround Blueprint by Fred Herbert. Solid and an easy read.

Credit Executive’s Guide to Corporate Restructuring by Elliot Fuhr and Dewy Imhoff. Solid

How to Settle with the IRS for Pennies on The Dollar by Arnold Goldstein.

Turnaround, Saving a Troubled Businessby Bob Papes. Not real memorable.

Strategic Alternatives for Distressed Businesses by Jonathan Frieland. Mostly a legal guide and attorney reference.

The Learned Disciplines of Management; How to Make The Right Things Happen by Jim Burkett.

Here's the rest of it, more distressed M&A focused.

1. The Art of Distressed M&A by: Peter Nesvold, Jeffrey Anapolsky, Alexandra Lajoux An excellent book and my first on the subject. It covers all the bases on pursuing, finding and acquiring distressed businesses.
2. How to Buy a Great Business with No Cash Down by Arnold Goldtstein.
   The single greatest business book ever written and increasingly hard to find. A Goldstein classic with practical real-life tactics and the much-needed mindset to build these deals.
3. Other People’s Money by Michael Lechter, Esq. Great intro book into the art of raising equity and debt.
4. How to Buy and Sell a Business by Garret Sutton, Esq. Great intro book.
5. Idiots and Dummies Guides to M&A. All solid places to start your understanding. Titles include; Selling Your Business for Dummies, Business Valuation for Dummies, Idiots Guide to Buying and Selling a Business.
6. Structuring and Negotiating Reorganization Plans. Part of Aspatore Book’s ‘Inside the Minds’ publication and sub-titled; Leading lawyers on representing debtors and creditors in bankruptcy and financial restructuring situations.
7. The Vulture Investors by Hilary Rosenberg. Reads like a series of magazine articles and was more interested in character development than deal tactics. Follows the big leveraged buyout kings of the 1980’s.
8. The Middle Market Leverage Financing Directory and Sourcebook by David Silver. A massive 750-page tome with only 100 pages of actual literature. The rest is directory which is certainly outdated.
9. Up Front Financing by David Silver. Written for entrepreneurs but contains many of the creative financing ideas used in mid-market LBO’s.
10. The Executive Guide to Corporate Bankruptcy by Salerno, Kroop & Hansen. More of a text book but the best summary of bankruptcy that I have found.
11. Distress to Success by Bobby Guy, attorney. A quick read, some clever legal advice not gotten elsewhere.
12. The Complete Guide to a Successful Leveraged Buyout by Allen Michel and Israel Shaked. A solid text which covers the basics very well. Worth the read.
13. Bankruptcy Investing – Ben Branch, Hugh Ray. A good review of bankruptcy process and how to track companies for investment through the process.
14. Leveraged Buyouts; a Practical Introductory Guide to LBO’s by David Pilger. That’s about what it is, a practical introductory guide.
15. Mergers and Acquisitions from A – Z by Andrew Sherman. The best foundational book on the subject.
16. The Mergers and Acquisitions Handbook by Milton Rock. A collection of academic articles and papers on the subject. A wealth of knowledge.
17. Distressed Investing by Martin Whitman & Fernando Diz. Follows a lot of F500 size companies through bankruptcy with attention to public equities, fulcrum securities, bond and interesting tranches of debt. Plus the pillaging of these cases by Professionals.
18. Private Equity at Work by Eileen Applebaum & Rosemary Raff. More of a expose than a how to guide.
19. Buying & Selling of Distressed Companies by Michael Tang. Good, basic, a fine primer.
20. Mergers and Acquisition Playbook by Mark Filippel. Solid primer similar to Sherman’s M&A A-Z but spiced up with more anecdotes and case studies. He also did a podcast on each chapter which is well done. Search the podcast under his name and Western Reserve Partners.
21. Buying & Selling Small Businesses, a Turnaround Manual by Dr. Ernie Stech. A great starter book.
22. The Messy Marketplace by Brent Beshore. Very basic M&A book, not turnarounds. Good first book to read on the subject. Brent is worth following as a podcast guest, sharp guy.
     

Good background! Use RX-specific preparation guides and read books like Distressed Debt Analysis networking early is crucial. I wish you luck!

Does anyone have actual links to 13WK CF case studies? Or can share them through private message. 

Not really much a college student would be expected to know about RX beyond traditional IB technicals and such, if anything focus on Bond stuff and at least the basics of bankruptcy you'd find with a surface-level google search. In general, though, they aren't expecting you to know the details of a Chapter 11 filing or whatever - just know the same sort of stuff you'd need to know for an IB interview to prove you're smart and they'll plan on teaching you the rest.