Financial Due Diligence Expense Analysis

What you'll learn

Perform comprehensive Quality of Earnings (QoE) analyses to normalize historical EBITDA for non-recurring items, accounting anomalies, and run-rate adjustments.
Identify transaction-critical red flags, compliance exposures, and governance risks to substantiate actionable diligence findings and protect deal value.
Execute rigorous P&L substantive analytical procedures across critical expenses, including payroll, headcount/FTE variances, and contractor classifications.
Identify non-recurring, promoter, and litigation items for QoE adjustments.

Requirements

Basic understanding of financial statements (Balance Sheet, Income Statement, and Cash Flow).
No prior transaction advisory or FDD experience required

Description

This course contains the use of artificial intelligence.
Financial Due Diligence: Expense Analysis is an intensive, deal-oriented masterclass designed to bridge the gap between academic accounting and the high-stakes execution of transaction advisory. While top-line expansion often dominates investment memos, true transaction value is either defended or destroyed in the expense profile of the Income Statement. This course equips finance professionals, M&A analysts, private equity associates, and transaction advisory consultants with the exact analytical toolkit required to dissect, normalize, and evaluate operating expenses during a buy-side or sell-side financial due diligence (FDD) engagement.
Throughout the course, you will move beyond high-level ratios to conduct rigorous, ledger-level substantive testing. You will master
-Payroll and Personnel Due Diligence: Go beyond basic headcount. Perform granular full-time equivalent (FTE) reconciliations to eliminate mid-period hiring distortions, uncover independent contractor and sham contracting exposures under prevailing labor regulations, analyze trade union wage renegotiation arrears, and separate corporate overhead from unit-level operations.
-Legal, Professional, and Compliance Exposures: Transform legal expense ledgers into diagnostic instruments. Track dispute footprints, assess one-off litigation settlements, review retainer arrangements for disguised owner cash leakages, and identify transaction-triggered retention or change-of-control liabilities.
-Other Operating Expenses (OpEx) & Discretionary Spend: Systematically scrutinize General Ledgers to unearth promoter-related personal costs, identify disguised capital expenditures vs. operational repair misclassifications, quantify deferred maintenance gaps relative to gross fixed assets, and interpret Ind AS / lease accounting impacts on sustainable cash generation.
-Specialized Sector Diligence (Healthcare & High-Value Services): Evaluate specialized provider economics, including doctor concentration risk, minimum guarantee (MG) shortfalls, and the commercial substance of revenue-sharing buyouts.
By completing this course, you will develop the practical expertise to construct audit-ready Quality of Earnings (QoE) bridges, isolate run-rate vs. non-recurring costs, identify critical debt-like adjustments, and protect transaction value with data-backed conviction

Who this course is for

Finance professionals, auditors, and accountants transitioning into Financial Due Diligence (FDD) or M&A advisory.
Corporate development and strategy professionals involved in buy-side or sell-side deals.

Homepage

https://www.udemy.com/course/financial-due-diligence-expense-analysis/

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