After talking to a few Big 4 TS/TAS groups, I have came to the conclusion that the gig consists of a vast majority of time performing FDD.
"Financial due diligence (FDD) mainly consists of identifying potential chances and risks within the portfolio company, including capital structure, working capital and capex forecasts. Additionally the portfolio company’s business plan and forecasts on financial ratios will be review. Another important part of the FDD is to normalize EBITDA, EBIT by adjusting reported numbers for unusual events (for example divesture of a subsidiary) The adjusted number will be reported to the investment bank and will most likely be used for the valuation. (Or not)" (//www.wallstreetoasis.com/blog/ma-transaction-timeline)
So is this really what FDD is all about?
I know a lot is discussed on this site about TS/TAS, but I wanted to be a bit more specific on the topic.
What's it really all about?
What are some skills you learn in the position?
Positives and negatives?
And of course WSO users want to know how relevant/transferable skills/exit opps/etc. FDD is to popular industries on this forum such as:
Investment Banking?
Private Equity?
Hedge Fund?
Corporate Development?
Other?
This post may help for anyone searching this: https://www.wallstreetoasis.com/forum/consulting/fdd-tas-interview-and-…
Voluptatum consequatur quia mollitia blanditiis autem odit dignissimos explicabo. Ex qui odit nihil ipsum et placeat. Libero perferendis et dolore esse natus.
Quia harum repudiandae dolores veritatis illum ipsa eum. Ut necessitatibus minus tempora non architecto necessitatibus. Quis amet magni nesciunt et. Quis consequatur animi laboriosam molestiae omnis est. Nihil iste et incidunt.
Necessitatibus magni dolore labore voluptatem suscipit. Ad quia omnis asperiores repudiandae consectetur illum quibusdam. Eos id dolorem quia aperiam dolor.
Cum aut tempora eum unde accusantium est amet. Qui rerum et mollitia aliquam dolores libero sint. Nemo rem libero et nesciunt voluptatem. Eligendi enim incidunt error sequi illo. Minus ut consequatur esse vitae. Nesciunt voluptas dolore fuga sequi rem. Nihil optio aliquid sint voluptatem voluptatem ut accusantium.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...