Is it fine to use an abridged/condensed BS for a 90 minute LBO test?

Have a model test coming up and feel well prepped- it's going to be on a software company, so low NWC/Capex type of business; would it be fine to basically just look at CA/CL to get to change in NWC to get the model to flow, and not focus much on long term assets/liabs (of which I assume there are not much)? 

Also is it safe to assume that it will likely be a CFDF transaction given it's a private co software type company? That would mean in the sources/uses the whole EV is a use versus just the equity value + net debt financing.

4 Comments
 

Can I get some advice from you on how I could get my 3-statement LBO from scratch timing down to 70min or below? 

Have a 70min 3-statement LBO test (from scratch, enter raw historical financials from a physical CIM) coming up but I always take 80+ min to crank out my practice LBOs, though it's already a huge improvement from where I started (130min+).

 

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