Most of the time, only during extraordinary firm-life moments (mergers, liquidation, acquisition, etc.), firms go globally under analysts' lenses to extrapolate their health, potentials, and perspectives. In that instant, economists, lawyers, interested investors, potential sellers, and all people/organizations involved in the transaction would like to know more and more about the firm.

As a result, a financial advisor is often appointed to this end.

Whatever your future career, you will meet a context where a certain degree of judgment is required to outline valuation and assessment, even partially, about different businesses.

This course outlines a basic and rigorous framework for leading reliable financial due diligence for different purposes.

Timetable

27th April 2022 – 9 am- 1 pm Room TL

1. FDD at a glance. Base financial data and reclassification

• Overview of PwC organization;
• The deal continuum;
• The Financial Due Diligence
• Vendor vs. Buy-Side Due Diligence;
• Our clients;
• Integrity, validation, and comprehension of financial data;
• Balance sheet and income statement reclassification;
• DD Report structure
• Groups formation for conducting a real FDD.

2nd May 2022 - 9 am- 1 pm Room P2

2. Balance sheet and net debt analysis

• Focus on a balance sheet;
• Focus on working capital;
• Net Debt and adjusted net financial position;
• Case study.

4th May 2022 – 9 am-1 pm Room TL

3. Income statement and Cashflow

• Historical performance analysis;
• Volume/Price effect and other research;
• Quality of Earnings;
• Overview of cash flow;
• Case study.

19th May 2022 9 am-1 pm - Room I4

4. The project works presentation and final remarks.

• A colloquium with a top famous consultant Partner and Human Capital team about the recruitment process;

The project works presentation and final remarks

Principal Lecturer - Claudia Armenise

Claudia is a Director at Deloitte Financial Advisory - Transaction Support Group.

She has been working as an auditor at PwC (2007-2014), where she has been in charge of procedures regarding the auditing of Italian GAAP, IFRS/IAS e US GAAP annual reports, and SOX testing.

Since 2014 she has been fully dedicated to transaction services. She developed professional experience in financial due diligence services (both sell-side and buy-side) across various industries (energy, public utilities, telecommunications, retail, luxury, defense, manufacturing, gaming) for major national and international investors and private equity firms.

Her clients are, amongst others,  Enel Green Power, F2i, Fondo Italiano di Investimento, Capvest, HIG, Investindustrial, Telespazio, Cementir, Angel Group, Aspi, Toyota, Armonia, A2A, Sisal, Goldbet, Green Network, Vianini Group, Chiquita, Wind, Ferrovie dello Stato Italiane, Marguerite.