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CPE Self-Study
Financial and Strategic Implications of Mergers and Acquisitions
NASBA FIELD OF STUDY
Finance
LEVEL
Intermediate
CPE CREDITS
Online: 2.5
This CPE course provides you with the technical knowledge required for the CGMA exam related to strategic management accounting. It addresses why entities merge with or acquire other entities, the tax implications, the role and scope of competition authorities and reasons for and against divesment.

CGMA designation holders qualify for additional discounts on this product.

In order to receive your special pricing, you must be registered and signed in. View the complete list of development products available on CGMA.org.

CPE On-Demand
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Supported Operating Systems:

  • Macintosh OS X 10.10 to present
  • Windows 7 to present

Supported Browsers:

  • Apple Safari
  • Google Chrome
  • Microsoft Internet Explorer
  • Mozilla Firefox

Required Browser Plug-ins:

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Technical Support: Please contact service@aicpa.org or use the Contact Us Form.

Product details

Who Will Benefit?

  • CGMA exam candidates
  • Management accountants wanting to develop skills in corporate financial strategy

Topics Discussed

  • Recognition of the interests of different stakeholder groups
  • Reasons for and against acquisitions, mergers and divestments
  • Taxation implications
  • Process and implications of a management buy-out, including potential conflicts of interest
  • Role/function/implications of acquisition by private equity or venture capitalist
  • Role and scope of competition authorities in relation to mergers and acquisitions
  • Forms of consideration and terms for acquisitions (e.g. cash, shares, and convertibles), and their impact on shareholders, including taxation impact
  • Treatment of target entity debt (settlement, refinancing)
  • Methods and implications of financing a cash offer and refinancing target entity debt
  • Bid negotiation (e.g. managing a hostile bid) including agency issues
  • Potential post-transaction value for both acquirer and seller (e.g. taking into account synergistic benefits, forecast performance and market response)
  • Integration of management/systems and effective realization of synergistic benefits
  • Types of exit strategies and their implications

Learning Objectives

When you complete this course, you will be able to:

  • Identify reasons for and against acquisitions, mergers and divestments (e.g. strategic position, synergistic benefits, big data opportunities, risks and tax implications)
  • Recognize the interests of different stakeholder groups
  • Recognize taxation implications (group loss relief, differences in taxation rates, withholding tax, double tax treaties)
  • Recognize the process and implications of a management buy-out, including potential conflicts of interest
  • Recognize the function of acquisition by private equity or venture capitalist
  • Identify the role of competition authorities in relation to mergers and acquisitions
  • Select the appropriate form of consideration and terms for acquisitions (e.g. cash, shares,and convertibles), and recognize their impact on shareholders, including taxation impact
  • Calculate an appropriate bid price, including identifying the methods and implications of financing a cash offer and refinancing target entity debt
  • Identify key defenses in hostile takeovers
  • Calculate the potential post-transaction value for both acquirer and seller (e.g. taking into account synergistic benefits, forecast performance and market response)

This CPE course is included in the 50+ hours of CGMA Strategic Management Accounting. It can also be purchased individually or as a part of Corporate Financial Strategy.

This CPE course classifies mergers and acquisitions and explores reasons why entities merge or acquire. It defines Big Data, synergy, and the impact of mergers and acquisitions on stakeholders. It examines tax implications, the role and scope of competition authorities, and methods of divestment. The course also investigates how management can purchase a business from its existing owners, and studies exit strategies. It focuses on practical matters such as what form of consideration should be used in an acquisition (for example, cash or a share exchange) and the negotiation process that surrounds a bid. It explores types of defenses against hostile bids, and how to derive entity values using the bootstrapping method. It considers the target entity’s debt issues, and concludes with investigating the post-merger or post-acquisition process.

Ratings and reviews
Author(s)

Kaplan Publishing Limited

Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

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Price:
$59.00
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Nonmember Quantity:
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Estimated total:
$59.00
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CREDIT INFO
CPE credits
Online
: 2.5
NASBA Field of Study
Finance
Level
Intermediate
Prerequisites
Management accounting experience or the equivalent
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
SMA-CFSF4
GROUP PRICING
Contact a representative for group pricing.
Telephone: 800.634.6780 (Option 1)
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