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.
For 90 minutes, I doubt you even get a true 3-statement if it's from scratch. You might but the only hard part there would be to idk make sure you're doing your PF goodwill / intangibles right and dealing with cap software as you would capex
Got it, so feels like my approach should be pretty safe then? I can rip a 3 statement like the one I mentioned in like 60 minutes have been doing speed runs lately lol
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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