Wall Street Prep
Interpreting Non-GAAP Reports
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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

What You'll Learn
Types of non-GAAP items
How to deal with inconsistent non-GAAP disclosures
Non-GAAP vs non-IFRS normalizing for tax
Non-GAAP impact on forecasting techniques and valuation
Non-GAAP shares outstanding
  • GAAP-based financial statements included in company annual, interim and quarterly reports are increasingly becoming less relevant than "unofficial" non-GAAP/IFRS metrics.
  • In this course, we use real-life examples to 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 integrated financial statement 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

Wall Street Prep’s Interpreting Non-GAAP Reports is used at top financial institutions and business schools.

Course Samples

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Non-IFRS disclosures in practice
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Normalizing for SBC, exercise II
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Forecasting EBITDA

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.

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.

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Earn CPE Credits with WSP Online Courses

CPE logo Wall Street Prep is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
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