Introduction

BMME303

CoDe

Accounting, Analysis and Governance in Complex Deals

Welcome!

Accounting, Analysis and Governance in Complex Deals


(c)RSM
Arndt Weinrich
  • Email me: weinrich@rsm.nl
  • Assistant Professor of Accounting at RSM
  • Academic Background: Doctorate (Paderborn & US), Master (Mannheim), Bachelor (Muenster)

Welcome!

Accounting, Analysis and Governance in Complex Deals

Who are you?

(c)RSM

Schedule

Accounting, Analysis and Governance in Complex Deals

  • 11 sessions during May and June that combine workshop and lecture elements

  • 2 Guest Lectures

  • Check timetables.eur.nl for an overview of appointments and room/lecture hall allocations

  • Keep up with Canvas for changes on short notice

Schedule

Accounting, Analysis and Governance in Complex Deals

Date Slot 1 (45min) Slot 2 (45min) Slot 3 (45min)
11/05/2026 Introduction Transactions Corporate Governance
13/05/2026 Target Identification: Value-Creating Archetypes Target Identification: Case Study Target Identification: Governance Revisited
19/05/2026 Cross-Border Issues: Failed Mergers Cross-Border Issues: Currency Conversion Cross-Border Issues: Uncertainty
21/05/2026 Valuation & Pricing: Fairness Opinions Valuation & Pricing: Multiples Valuation & Pricing: Applications
26/05/2026 Advanced Valuation: Guest Lecture McKinsey & Company Advanced Valuation: Guest Lecture McKinsey & Company Advanced Valuation: Guest Lecture McKinsey & Company
28/05/2026 Paying for Acquisitions: How? Form of Payment incl. Collar Arrangements Finance Considerations incl. PE
02/06/2026 Due Diligence Due Diligence Due Diligence
04/06/2026 Cases on Antitrust Issues in Complex Deals Cases on Antitrust Issues in Complex Deals Cases on Antitrust Issues in Complex Deals
09/06/2026 Post-Merger Integration Post-Merger Integration Post-Merger Integration
11/06/2026 No Lecture No Lecture No Lecture
16/06/2026 Synergies in Complex Deals: Guest Lecture Boston Consulting Group Synergies in Complex Deals: Guest Lecture Boston Consulting Group Synergies in Complex Deals: Guest Lecture Boston Consulting Group
18/06/2026 Wrap Up & Exam Prep Wrap Up & Exam Prep Wrap Up & Exam Prep

Subject to change!

Canvas

Accounting, Analysis and Governance in Complex Deals

  • Landing Pages

    • Deliver course materials, relevant updates (without announcements)

    • Include slides, FAQs, and additional resources


  • Slides

    • Slides come in HTML format (best format to include code, nested websites or videos)

    • Built in PDF export tool but some features might be lost

Attendance

Accounting, Analysis and Governance in Complex Deals

Mandatory attendance applies to guest lectures.

These sessions are a core component of the course and provide essential content that cannot be replaced through alternative assignments or readings. Students who miss a guest lecture will be ineligible to participate in the corresponding weekly assignment (see assessment element “Assessment - Assignment”), resulting in a score of 0% for that week’s assignment. Note that (i) assignments in total account for 20% of the final grade and (ii) students must pass all assessment elements to pass the course. Absence from guest lectures will thus directly impact your overall performance.


Attendance is checked during the sessions via various activities, e.g. quizzes on Canvas. Not taking part in these activities counts as a missed session!

Assessment

Accounting, Analysis and Governance in Complex Deals

Elements: Exam & Assignments

  • Final Exam (individual, 80%): June 23, 2025
  • Resit Exam (individual, 80%): July 21, 2025
  • Weekly Assignments (individual, 20%): 5 assignments via Canvas, typically due on Fridays at 11:59 pm
  • You must pass both assessment elements in order to pass the course
  • No carry-overs!
  • There is a deadline vault available on Canvas to help you track deadlines

Deadlines

Accounting, Analysis and Governance in Complex Deals

Zero Tolerance Policy

It is your responsibility to keep track of deadlines and to submit your work on time!


Deadline Vault

  • There is a deadline vault available on Canvas to help you track deadlines (e.g., deadlines for weekly assignments)
  • Check frequently!

Literature

Accounting, Analysis and Governance in Complex Deals

  • While there is no single literature source for the course, the following books are used as key reference materials:

    • DePamphilis (2025) covers a wide range of topics (2019 version electronically available at EUR)

    • Koller, Goedhart, and Wessels (2025) is a classic in the field of valuation (2020 version electronically available at EUR)

  • Academic articles will be used to illustrate the topics covered in the course and are exam relevant!

  • Canvas landing pages and slide decks will include relevant literature and other helpful resources

Learning Goals

Accounting, Analysis and Governance in Complex Deals

  • Understand how (financial) information creates and resolves conflicts between business leaders, oversight bodies, and other stakeholders throughout transactions.

  • Critically assess complex multi-type and multi-source information in transaction-related valuations and decisions.

  • Analyze the complex regulatory environment, including disclosure mandates, surrounding a variety of transaction types.

  • Apply regulatory risk assessment frameworks, including commercial and tax due diligence, to transactions.

  • Reflect on competencies in accounting, analysis, and governance acquired in other courses throughout the MSc programme to navigate complex deals.

Assessment Rubric

Accounting, Analysis and Governance in Complex Deals

Learning Objective Beginner Developing Accomplished Exemplary
Understand how (financial) information create and solve conflicts between business leaders, oversight bodies, and other stakeholders throughout transactions Shows basic awareness of information conflicts in transactions but cannot identify specific stakeholder roles or interests Recognizes different perspectives and some information conflicts but has limited understanding of resolution mechanisms Demonstrates clear understanding of how information creates conflicts and can identify several conflict resolution approaches Internalizes comprehensive analytical skills in understanding information dynamics and conflicts, and can evaluate effectiveness of various resolution strategies
Critically assess complex multi-type and multi-source information in transaction-related valuations and decisions Can identify different types of information sources but struggles to evaluate the underlying information’s decision relevance Shows ability to distinguish between information types and sources with some critical evaluation of quality and relevance Demonstrates analytical skills in assessing information quality, reliability, and applicability to, for instance, valuation contexts Exhibits sophisticated critical assessment capabilities, can synthesize complex information from multiple sources and evaluate potential biases and limitations
Analyze the complex regulatory environment, including disclosure mandates, surrounding a variety of transaction types Shows basic knowledge of regulatory requirements but limited understanding of their application to transactions Demonstrates understanding of key regulatory frameworks and can apply them to common transaction scenarios Shows comprehensive knowledge of the regulatory environment and can analyze regulatory implications across various cross-jurisdictional transactions Internalizes comprehensive analytical skills in understanding regulatory complexities, can anticipate regulatory challenges in transactions, and can evaluate compliance strategies across multiple jurisdictions
Apply regulatory risk assessment frameworks, including commercial and tax due diligence, to transactions Can identify basic risks in transactions but has limited ability to apply systematic assessment frameworks Shows understanding of risk assessment concepts and can apply basic frameworks with guidance Demonstrates competent application of risk assessment frameworks and due diligence concepts Demonstrates sophisticated risk assessment, internalizes relevant frameworks, and can execute customized due diligence procedures for complex transactions
Reflect on competences in accounting, analysis, and governance acquired in other courses throughout the MSc programme to navigate complex deals Shows minimal connection between prior coursework and complex deal contexts Demonstrates some ability to connect previous learning to current material but with limited depth Shows clear integration of prior knowledge with complex deal contexts and can apply learned concepts effectively Demonstrates sophisticated synthesis of knowledge across multiple domains, and can innovatively apply integrated competencies to complex deals

What This Course Is

Accounting, Analysis and Governance in Complex Deals

“The ability to simplify means to eliminate the unnecessary so that the necessary may speak.”

Hans Hofmann (abstract expressionist painter)


\(\Rightarrow\) Simplify complex deals to its essentials

Thank You!

References

DePamphilis, Donald M. 2025. Mergers, Acquisitions, and Other Restructuring Activities. Academic Press.
Koller, Tim, Marc Goedhart, and David Wessels. 2025. Valuation. John Wiley & Sons.