NYPEN: The Disconnect between Earnings and Cash
Invitation Link: http://guest.cvent.com/i.aspx?4W,M3,1708f6ec-a503-4b1f-9a7b-892108e808ac
The New York Private Equity Network (NYPEN) and Ernst & Young LLP will host an educational session, "The Disconnect between Earnings and Cash - a proactive approach to bridging the liquidity gap," which will be held on Tuesday, March 24, 2009. This session will continue our recent series of accounting and tax sessions aimed at assisting private equity backed portfolio companies with functioning in a distressed economic environment. The discussions will be led by Chris LeRoy, a Partner within Ernst & Young's Restructuring practice and Scott Walters, a Partner in Ernst & Young's Transaction Tax practice.
The session will center around accounting and business issues that companies operating in a distressed environment often face, including the disconnect that can arise between EBITDA and cash flows when facing softening financial performance.
What You Can Expect to Learn:
Discussion of various key accounting and business issues arising in a stressed/distressed environment including:
- Reporting metrics and analyses that allow for financial triage to be considered at portfolio companies/targets
- Potential corrective policies that can be implemented to allow for improving and building liquidity
- Typical matters encountered throughout the procurement process in a softening economic environment
- Implementing a successful business culture/attitude surrounding cash conservation, including a top-down understanding of the drivers in a business model that effect liquidity
- Tax effects related to recent changes to the new administration's stimulus plan, including proposed changes to the Code related to debt cancellations/modifications
- Bridging GAAP results to free cash flows
Date: Tuesday, March 24, 2009
Time: 7:00pm - 8:30pm (followed by cocktails)
Location: Ernst & Young's Office, 5 Times Square (7th Ave b/w 42nd and 41st Streets)