Restructuring - Model skills
Hey WSO family,
Got a question to ask those of you who are in the Restructuring sphere, but what are some of your experience in terms of modeling? The most common, or even the only type of modeling I've done, are building a 13-week cash flow model. Have any of you done a 3-statement model before?
To give you folks some background, I'm currently working at a Big 4 in Canada in their Restructuring group and the only model I've come across are building the 13-week cash flow model for CCAA or Proposal engagements (similar to Chapter 11 for the US). However, recently I got in touch with a Director at A&M and they mentioned that part of the expectations for the analyst/associates is building an integrated 3-statement model to review the debtors' business plan.
So I'm wondering if I need to teach myself 3-statement modeling in order to be successful in the Restructuring profession, or maybe I should even consider switching firms since I might not be getting the right experience.
Yes, I’m at one of the main MM firm in the states and we build 3 statement models often on debtor side. Would certainly recommend brushing up.
Yes you absolutely need that both on the debtor or creditor side
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