Accounting changes and its affects on valuation and modelling
I have been using WSO for a while and did a lot of self-study on modeling and accounting before 2018. I currently don't work in IB and haven't had the need to do any modeling. All the accounting classes I took were also before 2018.
My question is what are the major changes in accounting and how does it affect modeling (DCF, FCFF, FCFE, LBO, M&A Analysis, etc.) and ultimately valuations?
I am asking as all the guides and training use the old rules (e.g. 40% tax rate or not capitalizing operating leases.)
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