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Ok so deal advisory is effectively preparing the QoE (Quality of Earnings) for a buy or sell-side mandate. Investment banks working on sell-side deals will recommend QoE providers to the seller to prepare this primarily to derive normalized net working capital, recast P&L and quantify adjusted EBITDA. PE firms or corporations will hire QoE providers to perform buy-side QoE's to effectively vet the sell-side QoE's work. Deal advisory involves preparing a databook which starts with trial balance accounts that are mapped to each of the financial statement accounts (revenue, COGS, SG&A, A/R, inventory, etc.) and then dive into the monthly and annual trend in these numbers to identify outliers and inquire of mgmt as part of evaluating due diligence adjustments. 

Contrast this with investment banking where you definitely are NOT looking at trial balances (hence why QoE providers are hired separately). Nevertheless, deal advisory has become more and more common to be in when transferring into IBD given you gain some level of exposure to the M&A process.  

 

Second the above, and will say it's a very good internship if you're looking to get into IB - Fulltime KPMG DA to IB is very very very tough though.

 

You're an intern, stop giving advice and sit down. This is 100% incorrect. I interview people on a regular basis looking to lateral over to IB from Deal Advisory from all of the Big4. Beyond that, all of the Big4 have investment banks and I know for a fact that KPMG has allowed people to transfer over from Deal Advisory to Corporate Finance (KPMG IB arm) many times. Deal Advisory in any of the Big4 will set OP up well to lateral into IB. One caveat though is that this may differ outside of the US.

 

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