Courses - M&A Source 2026 Fall Conference & Deal Market

This course is designed to introduce you to the knowledge, tools and skills required to obtain a lower middle-market manufacturing engagement. After this course, you will be able to ask pertinent questions of a potential seller and know what research you should do beforehand. This course will enlighten those who haven't sold a manufacturing business before, and for those with manufacturing transaction experience, will further refine their understanding of the nuances of a successful engagement.

1. Learning Objectives:

The goal of the class to teach how to deal with the challenges and opportunities in selling manufacturing companies, including unique aspects related to taxes, working capital, work in process, percentage of completion accounting and valuation.

2. Program Knowledge Level: Advanced

3. Field of Study: Finance

4. Prerequisites: Recommended 2 years+ of M&A experience, knowledge of accounting, working capital, and percentage of completion accounting.

5. Advanced Preparation: It is recommended but not required that the participants have attended other MAS classes including taxes, working capital and WIP classes.

A Quality of Earnings (QoE) report can uncover issues that affect valuation, deal structure, negotiations, and buyer confidence. While CPAs perform the financial analysis, M&A advisors need to understand what the findings mean for the transaction and how to effectively communicate those findings to their sellers.

Through real-world examples and sample reports, this course focuses on turning QoE findings into action. Learn how to identify issues that require attention, anticipate how buyers may respond, guide productive conversations with sellers and their accounting professionals, and develop strategies to address concerns before they become obstacles to a successful closing.

1. Learning Objectives:

· QoE Reports Analysis: Learning to interpret QoE reports to identify value drivers and risks in business.

· Strategic Positioning: Utilize QoE insights for optimal pricing and positioning in business sales.

· Effective Negotiation: Develop negotiation strategies using QoE findings to enhance deal outcomes.

2. Program Knowledge Level: Advanced

3. Field of Study: Accounting

4. Prerequisites: Basic understanding of financial statements and introductory accounting principles.

5. Advanced Preparation: None

“Work in Process” (WIP) and “Work in Progress” (also abbreviated as WIP) are often used interchangeably, but they can have distinct meanings depending on the context, particularly in manufacturing and project management. “Work in Process” refers to an object on the way to completion and is typically confined to manufacturing and applies to items within the production cycle.

“Work in Progress” refers to a project on the way to completion and is used more broadly in project management, construction or services, where multiple stages of work are involved.

Learn how to accurately assess and manage WIP to identify hidden issues and mitigate risks in transactions. Equip yourself with the essential skills to navigate the financial, value, and operational complexities of WIP, leading to a smoother transaction process.

Attendees will gain an understanding of (1) WIP in different industries, (2) Accounting Procedures, (3) Financial Reporting, (4) WIP Tracking Process, (5) WIP Impact on Working Capital, (6) Role of WIP in Due Diligence, and much more.

1. Learning Objectives: Upon completion of this course, participants will be able to understand and apply key Work in Process (WIP) and Work in Progress (WIP) accounting principles, including the identification and allocation of direct materials, direct labor, and overhead costs. They will gain the ability to analyze WIP’s impact on financial statements and operational working capital, particularly in the context of mergers and acquisitions (M&A). Participants will also be able to distinguish between the Percentage of Completion Method (PCM) and Completed Contract Method (CCM), understanding their alignment with accounting standards such as ASC 606 and IFRS 15. Additionally, they will learn how WIP schedules are developed and utilized to track and report on billing, costs, revenue and gross profit during the life cycle of a job.

2. Program Knowledge Level: Advanced

3. Field of Study: Accounting

4. Prerequisites: There is no specific educational prerequisite for this course. But, to understand the application of the course content a participant should have at least 5 years of prior experience dealing with financial statement analysis, inventory analysis and basic accounting fundamentals, especially in mergers and acquisitions. Familiarity with industries where WIP plays a significant role, such as manufacturing, construction related and service businesses, and an understanding of working capital and working capital adjustments are also important. This experience will enable participants to better grasp the course content and apply WIP concepts in real-world M&A scenarios.

5. Advanced Preparation: None

This course is intended for the M&A professionals selling companies with an enterprise value from as little as $2 million to $20 million or greater who may or may not presently utilize an auction process for their sell-side engagements. After taking this course the attendees will be able to discuss the structured auction/bid process with prospective clients to help identify opportunities and subsequently secure more engagements where a structured transaction process is most appropriate.

A well-orchestrated auction process will produce better results while providing the blueprint needed for the ultimate benefit of maximizing value for your client. For those who currently utilize the auction process, this course will enhance your existing M&A Auction “Tool Box” with proven and practical advice.