Читать книгу Leveraged Buyouts - David Pilger - Страница 4
ОглавлениеPreface
What this book is about
This book is designed to explain the logic, concepts and analytical techniques behind leveraged buyout analysis – in plain (and painless) English and with a practical emphasis.
It explains leveraged buyouts and everything involved in their analysis. It also contains a detailed step-by-step guide to the process of putting together an LBO analysis. This lays bare the analytical model most often used by practitioners in the investment industry, in a sequential narrative form. Readers should be able to take the techniques described in this book and create their own leveraged buyout analyses. A complete MS Excel version of the leverage buyout analysis can be found at www.fin-models.com.
Who this book is for
This booked is designed for the individual who wants to learn the fundamental principles and modeling techniques of LBO analysis, as used by financial analysts in the investment banking industry.
With the modeling analysis approached from a practitioner’s standpoint, it is assumed that the reader is most interested in a practical approach. The emphasis is on the approach a practitioner takes on a daily basis in preparing a leveraged buyout analysis. This is as opposed to an academic approach, which would be more focused on theory and leveraged buyouts as a concept (though the theory and concept is dealt with in the first few chapters).
What knowledge is assumed
It is assumed that the reader has had a previous introduction to financial statements (the income statement, balance sheet and cash flow statement) and rudimentary accounting concepts. A basic knowledge of what financial statements are as well as the function and purpose of the income statement, balance sheet and cash flow statement will be essential. However, the book does explain every element of an LBO analysis, which necessarily involves explaining aspects of financial statements as this analysis relates to them.
This book assumes that the reader will be using MS Excel as their spreadsheet software for creating an LBO analysis. It therefore also assumes that the reader has a very basic working knowledge of Excel. The formulaic functions within MS Excel are explained in detail, but it is taken for granted that the user has some basic understanding of MS Excel as a tool that can be used for financial analysis.
