Accountant Blog Capital 
Francine Way
JULY 7, 2017
Thus far in the last 10 blog posts, we have discussed what M&A is, its success metrics, types of acquirers and value creations, capital structure, debt, and equity. In Blog #02 of the M&A series, we discussed SWOT analysis. and (4) support long-term business strategy. and (4) support long-term business strategy.
Francine Way
MAY 18, 2017
Before we move on to the buy-side and sell-side process of M&A next week, I’d like to wrap up this week by discussing the other capital structure component / tool: equity. As we mentioned in the past, equity is the most expensive form of capital (compared to debt with tax-deductible interest). However it is also the most flexible.
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Francine Way
MAY 17, 2017
For those of us who have borrowed money based on collateral, this blog post will feel familiar. If you have listed your car or savings account in your mortgage application, you are essentially trying to get a loan based on your current asset(s). as a part of a multi-tier capital structure. The concept can be extended to M&A.
Francine Way
MAY 14, 2017
In the last two blog posts, we walked through capital structure and how it impacts M&A activities and vice versa. To be explicitly clear, I am recommending the use of the following ranked capital sources when paying for an acquisition: cash (from the balance sheet), debt (at a reasonable level), and equity.
Francine Way
JULY 12, 2017
Essentially, it is a way to value a company based on cash generated from operation, taking into account all major expenses. Calculate cost of debt, cost of equity, and weighted average cost of capital (WACC). Remember the cardinal rule in accounting: balance sheet must balance. Build proforma income statement and balance sheet.
Bronte Capital
NOVEMBER 12, 2022
A long time ago I wrote a blog post about rehypothecation with brokers. The 1934 Securities Exchange Act and all that When you sign up to a margin account in almost all cases you pledge your securities to the broker with the ability for them to repledge. It is - unsurprisingly - relevant again. There is one word for this. The result.
Francine Way
JUNE 22, 2020
It has been roughly three years since my last blog post at the completion of my fellowship. To pick up where we last left off with valuation, I will cover the topic of a Merger Relative Valuation in this blog post and move on to other non-valuation topics from here. Working Capital deficit. Negative equity balance.
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