• 070 08/17/2017

    We are excited to announce the addition of a new feature: ASM Subscriber Profiles (see image below). Subscribers can now upload examples of their own work and share (or hide) exam results with a public page listing their accomplishments and interests. In addition to uploading unique templates or analysis, we are also encouraging subscribers to upload improvements to ASM templates available on the website. Each time a subscriber uploads an example of their own work, ASM will create a unique page for that post linking back to the subscriber's profile. Ultimately we hope that this will help subscribers get noticed for their talent. The profile page will also track how often a subscriber's work is downloaded and voted as helpful.

    The "Test Scores" featured on the page reflect the outcome of the three final exams available on the Quizzing Dashboard; they do not reflect any of the quiz scores (note: the final exams can be found at the bottom of the Quizzing Dashboard). Test scores will only appear on your dashboard once you attempt the final exams. For example, in the image below you will see that only one score is listed for the "Integrating Financial Statements" exam. Scores for the "Discounted Cash Flow Model" and "Leveraged Buyout Model" exams will not appear until the first attempt. Finally, if you are not pleased with your scores you can select the toggle labeled "Make ASM Tests Public" to hide the result. When this toggle is turned off your profile will appear as though the exams have never been attempted.

    I am including a screen cap of my own profile below as an example (each profile has a public LINK to facilitate sharing as well):

     

    User Profile for Financial Models

    Click on image for a larger view.

    In the next few weeks we will be rolling out new features that will facilitate searching for analysis and financial models uploaded by ASM users. In the interim please take a moment to familiarize yourself with the feature. Subscribers can access and update their own profiles from the Quizzing Dashboard by selecting My Account > My Profile.

     

 



  • 069 07/15/2017

    This post focuses on a significant tax advantage that any entrepreneur, fundless sponsor and lower-middle-market private equity practitioner should be aware of known as Qualifed Small Business Stock (QSBS). QSBS is an overlooked section of the U.S. tax code that can result in incredible tax savings on capital gains. If a transaction is structured properly, it has the potential to save shareholders millions of dollars in the event of a successful exit (sale of the company). 

    The attached PDF file provides an explanation of how QSBS works, and details a hypothetical equity structure. The document introduces legal documents relevant in forming a corporation and defining the equity structure of the corporation. The following additional topics are touched on as well:

    1. The Certificate of Incorporation: The legal document relating to the formation of a corporation.
    2. Equity Structure: A hypothetical equity structure is introduced requiring two classes of common stock and one class of preferred stock.
    3. Shares Outstanding: An explanation is provided for the difference between Shares Authorized, Shares Issued and Shares Outstanding.

     

     

     

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    Download Paper: Fundless Sponsors & Qualified Small Business Stock: An Incredible IRR Boost

    Related: Fundless Sponsor Economics

    Click HERE to have similar posts sent directly to your inbox.

     

     

 



  • 068 05/12/2017

    I recorded the first video for this website in 2013 with a $27 microphone I purchased at Best Buy. Since that time, the technology and software used at ASM has improved significantly, and I thought it was time to update the original recording. 

    In addition to improved audio and video quality, the two videos that replace the original benefit from years of questions submitted by ASM visitors and subscribers.

    I have included Part I of the new recording and the original file in this post to provide an easy comparison. Both of the new videos are presently available free of charge in the video series titled Integrating Financial Statements, and regardless of whether or not the new videos are ever put behind the paywall, the original will remain free at all times.

    New Recording: Building a Three Statement Model (Part I of II)
     

     
    Original Recording (recorded in 2013): Integrating Financial Statements

     

 




 



Models are:
 
A) really boring
B) pretty sweet
C) super important
D) somewhat easy
E) kind of hard
F) fun
G) all of the above

 

 


*Answers a, b, c, d, e, f and g are all correct.