Matan Feldman – Wall Street Prep – Interpreting Non-GAAP Reports

Matan Feldman - Wall Street Prep - Interpreting Non-GAAP Reports

Learn how to interpret non-GAAP disclosures and model their impact on historical results, forecasts and valuation. This course on interpreting non-GAAP reports is designed for investment bankers as well as equity research and credit analysts.

Why You Should Take This Course

GAAP-based financial statements are increasingly becoming less relevant than “unofficial” non-GAAP/IFRS metrics.
Here, we walk through the challenges and lesser-understood nuances of accurately normalizing historical results and forecasts.
We discuss the mechanics and concepts required to correctly adjust operating and valuation models as well as common pitfalls associated with tax adjustments, share count adjustments and forecasting non-GAAP items in financial models.

Who is This Program For?

This course is designed for professionals and those pursing a career in the following finance careers:

Investment Banking
Buy-Side Equity Research
Sell-Side Equity Research
Private Equity
Credit Research
FP&A and Corporate Finance

Course Highlights

Taught by Bankers

Our instructors are former I-bankers who give lessons real-world context by connecting it to their experience on the desk.

Used on the Street

This is the same comprehensive course our corporate clients use to prepare their analysts and associates.

1.5x, 2x Video Speed

Save loads of time by bumping up playback speed to breeze through lessons at your own pace.

Instructor Support

Have a question on course content? Communicate directly with instructors by asking questions throughout the course.

Course TOC

Chapter 1: Introduction to non-GAAP items

Chapter 2: Nonrecurring items

Chapter 3: Noncash items — Stock based compensation

Chapter 4: Noncash items — Intangible asset amortization

Chapter 5: Historical EBITDA

Chapter 6: Forecasting EBITDA

Chapter 7: Other non-GAAP topics

Non-GAAP Reports Review

Prerequisites

The program assumes a basic introductory knowledge of accounting (e.g. interaction of balance sheet, cash flow, and income statement) and proficiency in Excel. Students with no prior background in Accounting should enroll in the Accounting Crash Course. Students with limited experience using Excel should enroll in the Excel Crash Course.

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