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Carsten Berkau

Basics of Accounting

2021

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30 Tax Calculation, Profit Appropriation and Equity Changes S. 424-434

„… Berkau: Basics of Accounting 6e 30-424 30 Tax Calculation, Profit Appropriation and Equity …” „… instead. We do not discuss the income tax cal-culations but replace it again by our simplified income tax …” „… profit of: 260,000 – 150,000 = 110,000.00 EUR. In general, the calculation of income taxes follows the …”

32 Introduction to Statements of Cash Flows S. 456-483

„… , bonds). For the calculation of cash flows, we acknowledge that cash flows from in-vesting and financing …” „… operations. 32.6 Cash Flow Statement and Value added Tax In general, cash flow statements are based on …” „… flow calculations are based on gross amounts followed by payments to and receipts from the revenue …”

1 Conventions S. 21-26

„… Statements for Taxation We do not cover tax calculations. Tax statements are relevant for us to deter-mine …” „… income taxes (simplified calcula-tion) and deferred taxes. 1.21 Names We name companies and mark them …” „… simplify the case studies. They are about legal forms, tax rates, formats etc. They apply for this …”

22 Trading Business – (2) Sales and Returns S. 257-275

„… of income tax expenses. For the two steps in profit calculation, we apply two accounts: (1) Trading …” „… profit calculation. It is continued by the Profit and Loss account for net profits. Bookkeeping for …” „… inwards. Further-more, you understand gross profit and net profit calculation. You can apply a Trading …”

4 Legal Aspects of Accounting S. 55-65

„… tax law al-lows a simplified tax calculation based on §4 III EStG, which is based on a comparison of …” „… 4-56 and submits a form for the profit calcu-lation. We assume Prof. Dorp's personal tax rate is 27.5 …” „… commercial financial statements (bal-ance sheet and income statement). For his own tax calculation, Prof …”

28 Income Statement Following the Cost of Sales Format S. 366-403

„… loss and other comprehensive income that is linked to the calculation of products. In contrast to the …” „… calcu-lation is simple. The profit calculation gets a little more demanding once fin-ished goods are added to …” „… product calculations. Calculating products/ser-vices requires allocating costs to cost objects, e.g …”

19 Accounting for Labour S. 221-234

„… simplify the payroll tax calculation for the purpose of teaching, e.g., we exclude church taxes, and we …” „… social securities (50%). 19.7 Assumptions The calculation of payroll tax and so-cial security …” „… the company which requires the consider-ation of payroll tax. Furthermore, we cover how to make …”

9 Profit and Loss Activities S. 109-118

„… ). In this textbook we sim-plify income tax calculations. We re-place the income tax calculations by a …” „… tax calculation. In Accounting there is a difference be-tween expenses and payments. An ex-pense is …” „… ) Ltd. is positive. 9.12 Income Tax Calculation The income statement shows income tax expenses. Income …”

15 Special Liability Accounts S. 173-186

„… the tax calculation in this textbook is simplified following the conventions in chapter (1). In a real …” „… and the calculation of interest and pay-off. You need that knowledge once it comes to financing a …” „… business with loans. Detailed information about the calcu-lation and disclosure of bank loans and further …”

11 T-Accounts for Profit and Loss S. 132-141

„… : Basics of Accounting 6e 11-138 11.6 Calculation of Income Tax For the tax calculation, we look at the …” „… profit or loss. After profit calculation, the earnings after taxes are transferred to the Re-tained …” „… calculation took place. The case study companies ROHRBACH Ltd. and EDENVALE AG did not earn a profit, nor did …”

Titelei/Inhaltsverzeichnis S. 1-18

„… 11.6 Calculation of Income Tax …” „… ..................................................................................................... 29-423 30 Tax Calculation, Profit Appropriation and Equity Changes ..... 30-424 30.1 What is in the …” „… .......................................................................... 1-21 1.8 Calculations …”

27 Cost Formulas S. 352-365

„… profit calculations. 27.2 Learning Objectives After studying this chapter, you can apply the most …” „… demonstrate identical inven-tory movements and show how valua-tions and profit calculations change. 27.4 C/S …” „… 7,000.00 Interest bear liab 0.00 A/R A/P 50,000.00 Prepaid expenses ProvisionsCash/Bank 43,000.00 Tax …”

25 Production Firms S. 315-325

„… the Work-in-Pro-cess account and demonstrate the cal-culation of unit costs of manufactur-ing. What …” „… production, like administra-tion and sales-and-distribution-costs, cannot be considered for the calcula-tion …” „… that deals with the calculation in production firms is called Manufacturing Accounting. It is linked to …”

29 Trial Balance S. 404-423

„… balances: one after making initial Bookkeeping entries and another one after profit calculation. 29.2 …” „… ) Record the adjustments, like depreciation, accru-als, interest and pay-off, profit calculation etc …” „… . Calculate the earnings before taxes and earnings after taxes. Make Bookkeeping entries for income tax …”

33 Establishment of a Business and Legal Form Changes S. 484-523

„… prepare tax statements for her profit calculation. 33.5 Bookkeeping Records for a Sole Pro-prietorship …” „… - 13 The calculation of income taxes under a tax pro-gression system is covered in chapter (6) of our …” „… consequences regarding responsibili-ties, tax regulation impacts and the ap-propriation of profits. 33.2 …”

2 Cafeteria Example and what is on the Balance Sheet S. 27-47

„… replace the 30 % by what the tax professionals calculate. We do not worry about income tax cal-culations …” „… calculation which fol-lows a 30 % income tax rate based on the profit before tax EBT. The total of …” „… expenses ProvisionsCash/Bank 100,000.00 Tax liabilitiesTotal assets 100,000.00 Total equity and liab …”

24 Privately-owned Business: Drawings S. 294-314

„… HOUTBANK’s statement of comprehensive income The income tax calculation is based on progressive tax rates. A …” „… 6 Read the case study SCHLUCHMAN in our Man-agement Accounting, chapter (6) to understand the tax …” „… implications! for running a privately-owned busi-ness. One of these reasons can be tax implications. Instead of …”

23 Trading Business – (2) Sales and Returns plus VAT S. 276-293

„… car dealer: 23.3 How to Record Output-VAT The calculation of output-VAT is the same as for input-VAT …” „… ......... 21,400.00 EUR Before we explain the profit calculation, we look at the accounts at this stage; see Figure …” „… ) 4,000.00 c/d 12,900.00 20,800.00 20,800.00 b/d 12,900.00 Accounts receivables A/R Value added tax VAT …”

26 Inventory Systems S. 326-351

„… calculation of gross profit in a trading business, we applied the Purchase account and closed it off to the …” „… How-it-is-Done paragraph to recall the steps of gross profit calculation based on a periodic inventory system …” „… calculation is a trade-off for the poor information obtained about actual stock levels. With a periodic system …”

37 Cash Book: Reconciliation with the Bank Statement S. 564-578

„… Bank - Reg. no. 451/5413/078STATEMENT / TAX INVOICEKragga Consultants Ltd.as at 31.12.20X5 Figure 37.1 …” „… 39,940.00 b/d 250,000.00 Value added tax VAT Revenue-20X5 REV D C D C(9) 5,000.00 c/d 5,000.00 (11) 6,500.00 …” „… 5 Closing balancePROTEM BANK LIMITED Registered Bank - Reg. no. 451/5413/078STATEMENT / TAX …”

5 The Excel Accountant S. 66-82

„… calculation, appropriation of profits etc have been recorded. After adjustments, all nominal accounts are …” „… Tax Liability account, Reserves account etc. Again, the total in the debit column must equal the one …” „… calculate the correct taxes. The taxes will become zero for negative pre-tax profits. See below the income …”

35 Disposals S. 535-548

„… cannot be sold/rented-out, nor can it be used to contribute to operations or to administration. For tax …” „… added tax .............. 2,000.00 EUR CR Profit and Loss ............. 1,000.00 EUR In …” „… Realisation Account .......... 2,000.00 EUR CR Value Added Tax .............. 2,000.00 EUR DR …”

39 Books of Original Entry S. 593-606

„… 5,382.50 Issued capital ISS Rent-20X2 RNTValue added tax VAT Purchase-20X2 PURD C D C(4.1) 9,600.00 (4.5 …” „… jour-nal or were bought on cash. We consider both kind of purchases for the profit cal-culation. Berkau …” „… Observe MUIRFIELD (Pty) Ltd.‘s ac-counts after profit calculation in Figure 39.5: D C D Cc/d 50,000.00 (1 …”

21 Trading Business – (1) Purchases and Returns plus VAT S. 244-256

„… 21.1 What is in the Chapter? In this chapter, we discuss value added tax (VAT). As we only cover …” „… Objectives After studying this chapter, you under-stand the concept of value added tax VAT and you can record …” „… purchases and returns under consideration of in-put-VAT. 21.3 Value Added Tax VAT In almost every country …”

12 Introduction to Bookkeeping Entries S. 142-154

„… . Adjustments consider depreciation, accruals, balancing- and closing-off accounts, income tax calcu-lation etc …” „… balancing figure in the Profit and Loss account is called earnings before taxes because the tax expenses are …” „… still to be deducted from profit. Here, earn-ings before taxes equal: 130,000 – 3,400 – 48,000 – 10,000 …”

31 Multiple-Period Bookkeeping S. 435-455

„… contra account is the Income Tax Liability account. As an effect of this procedure, the adjusted trial …” „… of income taxes, value added tax and/or dividends. Regarding our conventions, all tax liabilities and …” „… amounting to 1,500,000.00 EUR. Payroll tax and social securities payments are included therein. To keep the …”

17 Depreciation S. 197-212

„… assets and their calculation. 17.2 Learning objectives After studying this chapter, you will be …” „… use/deployment. The tax law in Germany allows to write off assets of minor value completely within the year of …” „… . Calculation of depreciation per period along straight-line method works as below: We divide the amount of the …”

36 Discounts and Rebates S. 549-563

„… Bookkeeping entries might follow in various situations, like changes of depreciation or product calculations …” „… ) 2,000.00 (2) 8,000.00 (2) 1,600.00 (3) 12,000.00 (3) 2,400.00 Purchase-20X4 PUR Value added tax VAT Figure …” „… C/BPurchase-20X4 PUR Value added tax VATAccounts Payables A/P Discount received D/R Figure 36.2: FIXCARS (Pty …”

41 Table of Figures S. 611-620

„… : KENSINGTON CAFETERIA’s statement of financial position (5) 2.44 Figure 3.1: Calculation of an investment of …” „… entries for income taxes (selected accounts only) 11-138 Figure 11.7: PELZERHAGEN (Pty) Ltd.’s statement …”

doi.org/10.24053/9783739881836-0

Bettina Stoke-Borchert - Fachwörterbuch Rechnungslegung nach IAS / IFRS und HGB

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Bettina Stoke-Borchert

Fachwörterbuch Rechnungslegung nach IAS / IFRS und HGB

Series: BeckLex

Volume 2021

Results in this title

Seite 494 – 498 S. 494-498

„… taxes (Section 275 HGB income statement) (Abk = EAT) Ergebnis nach Steuern (EAT), Gewinn nach Steuern …” „… (EAT).earnings before taxes (Abk = EBT) Ergebnis vor Steuern (EBT), Gewinn vor Steuern (EBT).earnings estimate …” „… is on the denominator of the earnings per share calculation.E2earnings (loss) per share, basic …”

Seite 429 – 433 S. 429-433

„… (BT-Drucksache).bundle Bündel.bundle of sub-rights Bündel von Teilrechten.burden, fiscal ~ Steuerlast; tax ~ steuerliche …” „… ; deferred taxes relating to ~ ~ latente Steuern in Bezug auf Unternehmenszusammen-schlüsse.business company …” „… Ingangsetzungsaufwendungen.business taxes Betriebssteuern.business undertaking, government ~ ~ staatliches Unternehmen.business …”

Seite 306 – 310 S. 306-310

„… , determination of taxable profit, calculation of taxable profit; ~ Konsequenzen tax consequences …” „… 306Steueraufwendungen steuerliche AbzugsfähigkeitSteueraufwendungen tax expense.steuerbar …” „… taxable.steuerbefreit tax-exempt.steuerbegünstigt tax-privileged.steuerbegünstigt, Spenden für ~e Zwecke tax …”

Seite 166 – 170 S. 166-170

„… comprehensive income that is reclassified to profit or loss); – „Steueraufwendungen“ (tax expense); – „ein …” „… profit, calculation of accounting profit; steuerliche ~ determination of taxable income, determination of …” „… taxable profit, calculation of taxable profit; determining taxable profit; steuerrechtliche …”

Seite 709 – 713 S. 709-713

„… Climate-related Financial Disclosures tax basecontractually agreed-upon ~ vertraglich vereinbarte Aufgabe.Task …” „… the Task Force on Climate-related Financial Disclosures (TCFD).T2tax (see also under the headword …” „… “taxes”) Steuer.tax, capital gains ~ Steuer auf Veräußerungs-gewinne; capital yield ~ HGB …”

Seite 56 – 60 S. 56-60

„… ; debit.Belastung, steuerliche ~ tax burden.Belastung auf Kapitalkonten debit postings to shareholder capital …” „… , consulting, counselling (brE)/counseling (amE).Beratung, Anlage~ investment advisory; Steuer~ tax advisory …” „… ~ recalculate.Berechnung calculation; computation.Berechnung, Barwert~ present value computation.Berechnung | des …”

Seite 301 – 305 S. 301-305

„… comprehensive income, before tax.sonstiges Kapital DRS/GAS 21 other capitalBankaufsichtsrechtlich anerkanntes …” „… für steuerbegünstigte Zwecke tax-privileged donations.Sperre, Abführungs~ restriction on profit …” „… money.Startkapitalgeber seed money investor.statistische Rückrechnung statistical back-calculation.statistischer Ausreißer …”

Seite 419 – 423 S. 419-423

„… Rechnungsle-gungsunterlagen; supplementary ~ Nachtrags-prüfung; tax ~ Betriebsprüfung; Steuerprüfung.audit, German public …” „… ; Aufsicht; taxation ~ Steuerbehörde; tax ~ Steuerbehörde; Finanzver-waltung; Finanzamt …” „… gewichtete Kapitalkosten.average | effective tax rate durchschnitt-licher effektiver Steuersatz; ~ exchange …”

Seite 509 – 513 S. 509-513

„… payment Überzahlung.excess payments | of corporation tax Körper-schaftsteuerüberzahlungen; ~ ~ of trade …” „… tax Gewerbesteuerüberzahlungen.excess | spread Überschussspanne; ~ value Überschussbetrag.excessive …” „… , tax- ~ steuerbefreit.Exempt-Exempt-Taxed regime (see Taxed-Exempt-Exempt regime (TEE)) (Abk = EET …”

Seite 454 – 458 S. 454-458

„… Consolidated Financial Statements consolidated tax groupthe reporting date for the financial year of the …” „… ~ ~ unmittelbar aus der Konzernbilanz und Konzerngewinn- und -verlustrechnung ableiten.consolidated income tax …” „… Konzernbilanz.consolidated subsidiary vollkonsolidiertes Tochterunternehmen.consolidated tax group DRS/GAS 18 Organschaft …”

Seite 116 – 120 S. 116-120

„… determination.Ermittlung, Gewinn~ determination of profit.Ermittlungsgrundlage basis of calculation.Ermittlung | des …” „… consolidated tax group subsidiary; ~ (Verlust) der Periode profit (loss) for a period; ~ der …” „… result after taxes; ~ nach Steuern laut Jahresabschluss result after taxes reported in annual financial …”

Seite 176 – 180 S. 176-180

„… banks.gutschreiben credit.Gutschrift credit.Gutschrift, Steuer~ tax credit.Gutschrift | auf Gesellschafterkonten im …” „… . Gewerbesteuer) trade tax.177Haben HandelHHaben (Abk = H) Credit (Cr).haften (für) liable …” „… ) reconciliation of carrying amounts in financial statements to tax accounts.Handelsbilanz I (Abk = HB I) local …”

Seite 609 – 613 S. 609-613

„… Person.natural person: natural and legal persons with limited tax liability beschränkt steuerpflichtige …” „… Nettobestandsveränderungen des Vorratsvermögens.net debt Nettoschulden.net decrease Nettoverringerung.net deferred tax asset …” „… latenter Nettosteueran-spruch.net deferred tax liability latente Nettosteuer-schuld.net defined benefit …”

Seite 644 – 648 S. 644-648

„… by the taxation authorities, upon which income taxes are payable (recoverable).P83profit, calculation …” „… | component Hauptkomponente; ~ deferred taxes primäre latente Steuern; ~ financial instrument originäres …” „… leads tax’ ~ (see ‘tax dictates financial accounting’ principle) Maßgeblichkeitsgrundsatz, Grundsatz der …”

Seite 699 – 703 S. 699-703

„… ~ controlling rights Aktien mit Sonderrechten, die Kontrollbefugnisse verleihen.special tax-allowable reserve …” „… ~ ~ Eigenkapitalanteil des Sonderpostens mit Rücklageanteil.special tax-allowable reserves Sonderposten mit …” „… ; ~ partner balance sheets of individual partners prepared for tax purposes DRS 18 steuerliche Sonderbilanzen …”

Seite 729 – 733 S. 729-733

„… Wertansatz.value added statements Wertschöpfungsrech-nungen.value added tax Mehrwertsteuer; ~ ~ (Abk = VAT …” „… ) Umsatzsteuer (USt.).Value Added Tax Act, German ~ ~ (Abk = UStG) Umsatzsteuergesetz (UStG).value added tax …” „… (Abk f. value added tax) Umsatzsteuer (USt.); purchased merchandise without ~ classification …”

Seite 394 – 398 S. 394-398

„… SteuernAccounting profit is profit or loss for a period before deducting tax expense.A14accounting profit …” „… , calculation of ~ ~ HGB handelsrechtliche Gewinnermittlung; determination of ~ ~ HGB handelsrechtliche …” „… Bilanzierung einer Interes-senzusammenführung.accounting for deferred taxes latente Steuer-abgrenzung …”

Seite 464 – 468 S. 464-468

„… disposal of an asset or cash-generating unit, excluding finance costs and income tax expense.C127costs of …” „… to the disposal of an asset (or disposal group), excluding finance costs and income taxes/income tax …” „… ~ Akkreditiv (L/C); period of ~ Zeitraum des Zahlungsziels; tax ~ Steuergutschrift.credit, regulatory deferral …”

Seite 689 – 693 S. 689-693

„… ; purchased ~ bezogene Leistungen; recurring ~ wiederkehrende Dienstleistungen; tax advisory …” „… entity and either (a) the individuals are regarded as employees for legal or tax purposes, (b) the …” „… employees for legal or tax purposes, or (c) the services rendered are similar to those rendered by employees …”

Seite 484 – 488 S. 484-488

„… Basis DifferencesTemporary differences that arise between the tax base of an investment in a subsidiary …” „… reportable segments’ profits or losses and entity’s profit or loss before income tax expense or income and …” „… ~ Zinsunterschieds-betrag; Zinssatzdifferenz.differing | carrying amounts of tax authority abweichende Wertansätze der …”

Seite 569 – 573 S. 569-573

„… calculation includes all fees and points paid or received between parties to the contract that are an integral …” „… Zinszahlungen und Dividendenzah-lungen.interest and penalties related to taxes DRSC Interpretation 4 (IFRS)/ASCG …” „… AO.I87interest and penalties related to income taxes DRSC Interpretation 4 (IFRS)/ASCG Interpretation 4 …”

Seite 171 – 175 S. 171-175

„… tax.Grundgesamtheit population.Grundgeschäft DRS 21 (Sicherungsgeschäfte) item.Grundgeschäft, gesichertes ~ IAS 39 …” „… ~ basis for decisions; Ermittlungs~ basis of calculation; Rechnungslegungs~ basis of accounting.Grundlage …” „… „gesonderte Darstellung“ (presented separately)).Grundsatz der Maßgeblichkeit ‘financial accounting leads tax …”

Seite 356 – 360 S. 356-360

„… ~ DRS/GAS 18 tax allocation agreement; Stimmbindungs~ voting agreement; Stimmrechtsbindungs~ voting …” „… share.verwässertes Ergebnis je Aktie: Berechnung des verwässerten Ergebnisses je Aktie calculation of diluted …”

Seite 291 – 295 S. 291-295

„… and bank balances.Schema, Berechnungs~ calculation model; Prüf~ flow chart; verification …” „… ~ net debt; Segment~ segment liabilities; Steuer~ tax liabilities; übernommene ~ liabilities assumed …”

doi.org/10.15358/9783800663064

Christian Hagist, Tobias Kohlstruck - Fiskalische Nachhaltigkeit

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Christian Hagist (ed.), Tobias Kohlstruck (ed.)

Fiskalische Nachhaltigkeit

Series: Festschriften RSW

Volume 2022

Results in this title

Generational Economists and Generational Accounting – A Tribute to Bernd Raffelhüschen — Prof. Dr. Laurence J. Kotlikoff S. 217-228

„… happiness,aging, healthcare reform, tax policy, charitable giving, and population migration.Bernd was at the birth …” „… , painstaking calculations to discernwhat tomorrow’s taxpayers were facing. Generational accounting has, I …” „… fiscal-fairness analysis. Generational accounting –understanding the net-tax bills being foisted on today’s and …”

Fiscal Challenges in a Small Resource-Rich Economy — Prof. Dr. Erling Vårdal S. 301-312

„… ’ calculations.Consequently, sheltered by oil and gas revenues, public expenditures on the agri-cultural sector, which …” „… substantially from a continuous in-flow of tax money from the oil sector. As the oil production in Norway is in …” „… , whichin 2020 translated into a market price support of NOK 8 billion. Tax financed sub-sidies account for …”

doi.org/10.15358/9783800670161

Jörg Wöltje - Investition und Finanzierung

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Jörg Wöltje

Investition und Finanzierung

2022

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Vokalbelliste S. 569-586

„… calculation Anlagevermögen fixed assets Anleihe bond Annuität annuity Annuitätenfaktor annuity factor …” „… calculation Durchschnittswert average value dynamische Investitionsrechnung dynamic investment calculation E …” „… calculation Vokalbelliste 572 K Kalkulationszinssatz internal interest rate kalkulatorische Abschreibung …”

doi.org/10.34157/9783648165348

Dietmar Ernst, Joachim Häcker - Applied International Corporate Finance

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Dietmar Ernst, Joachim Häcker

Applied International Corporate Finance

2012

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Titelei/Inhaltsverzeichnis

„… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 2.4.2 Accountants and tax advisers …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 275 2.2.4 Auditors and tax advisers …” „… . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 354 3.4 Conducting a tax due diligence …”

Chapter 3: The DCF method S. 369-429

„… savings from interest expenses. The calculation is as follows: operating free cash flow + corporate tax …” „… included in the calculation of the corporate taxes. A further difference to the gross approach is the …” „… , a simplified base model will be examined; individual tax rates of the equity sponsors are not …”

Chapter 4: The trading multiples method S. 430-494

„… Calculation of the company value The value of the company to be evaluated is determined on the basis of a …” „… . Of course the reference figure must be the same as used for the calculation of the multiples. Value …” „… calculation of market values, then the book values from the last annual or quarterly report can or must be …”

Chapter 2: How to carry out a valuation S. 363-368

„… calculation of the net asset value is based on the following procedure: • First, the individual value of all …” „… values The calculation of a net asset value based on liquidation values assumes the liquidation of the …” „… (Balance Sheet Total Liabilities). The calculation of working capital is illustrated in Exhibit 6, the …”

Chapter 3: What is done in a due diligence? S. 341-355

„… important due diligence audits are the strategic, financial, legal, and tax audits. The data that is …” „… past forecasting calculations by comparing expected and realised figures for the target company’s …” „… planning calculations within a company, because they will have a major influence on the purchase price. An …”

Chapter 2: What is a data room? S. 335-340

„… tax authorities, calculations of a product’s profit contribution, compensation and benefits …” „… , tax and environmental issues, facilities, human resources, international issues, legal issues …” „… company’s local Inspector of Taxes and reference number • Latest date of tax returns • Copies of all …”

Chapter 1: Why Valuation? S. 356-362

„… – Enterprise value multiples – Equity value multiples 1 step-, 2 step-, 3 step-price calculation – Investment …” „… stocks – Squeeze out – Compensations (in cash or in shares) – Valuation for tax reasons To establish a …” „… , also called “decision-independent” (for example for tax or rating reasons). Examples of valuations that …”

Chapter 7: How is acquisition financing done? S. 235-243

„… statement and a cash flow calculation. These documents are completed using the information that the …” „… financing structure. The four core due diligence categories (strategic, financial, legal, and tax) as well …” „… : Acquisition Financing • legal sphere (incl. environmental and insurance law) – legal due diligence • tax …”

Chapter 3: How does acquisition financing work? S. 182-194

„… total profitability (return on assets – ROA) is higher than the interest payments on debt (after taxes …” „… element during the selling/purchase price calculation. In addition, a large number of transactions fail …” „… plausibility-calculation. For safeguard their interest, banks always contrive their own financial models from submitted …”

Chapter 5: The transaction multiples method S. 495-513

„… significantly bigger challenge is the calculation of the multiples. It gets especially problematic if there are …” „… calculation of the transaction multiples is much more limited in most cases than the information basis for …” „… difference between EBITDA and EBIT lies in the fact that the calculation of EBIT is carried out by deducting …”

Chapter 4: How is Private Equity Business done? S. 118-167

„… • Calculation of cash, financial debt, net working capital, EBITDA, deductible tax amount, seller balance claim …” „… of the fund is explained from a legal and tax perspective. In this case, there is no prospectus …” „… • tax due diligence: analysis of the tax situation; tax statements, latent taxes, tax credits etc …”

Chapter 3: How are Private Equity firms organized? S. 89-117

„… auditor/accountant who audits the company, the legal advisor and the tax advisor, the consultant, the representative …” „… spreadsheet software packages have built-in functions to facilitate the calculation of IRR. Obviously …” „… portfolios, one may use these interim estimates with more confidence. Performance calculations should …”

Chapter 1: What is Private Equity all about? S. 64-81

„… capital company’s point of view, the calculation is based on a return expectation of 30%–50% p.a. The …” „… the target company and therewith its tax burden. 1.3.5 Spin-off In the context of the buyout topic …” „… hidden reserves = stille Reserven tax burden = Steuerbelastung spin-off = Ausgliederung entrepreneur …”

Chapter 5: How to determine the financial structure of an acquisition financing S. 203-226

„… flows) available for servicing the debt obligations. In their calculations, the banks consider all …” „… (earnings before interest and taxes) – interest expenses (senior loan) – interest expenses (mezzanine …” „… (earnings before taxes) – Taxes debt service ability = Schuldendienstfähigkeit debt service obligation …”

Chapter 1: What makes acquisition financing special? S. 168-173

„… financing-, planning-, valuation-, tax- and legal subjects. Acquisition financing is therefore handled by …” „… , a pro-forma income statement and a proforma cash flow statement and calculations for a period of …”

doi.org/10.15358/9783800644636

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