Complex Financial Instruments

 Expert Analysis for a Variety of Complex Securities

At WilliamsMarston, our valuation experts have the unique skills and capabilities to assist you in designing, understanding, and valuing complex financial instruments based on the fair value framework outlined in ASC 820. Our specialists are primarily engaged in the valuation of complex debt, equity and derivative instruments for financial reporting, tax reporting and management planning purposes. Our analyses are based on the economics of the underlying security, academic finance theories including option pricing theory and the efficient-market hypothesis, and core probabilistic and statistical models from quantitative finance. Learn more about our offerings below. If we can be of assistance, don’t hesitate to reach out.

Complex Financial Instruments We Can Analyze for Your Valuation Needs

A sample of the types of securities for which we provide valuation services include:

Equity Instruments

  • Complex capital structures (ASC 718, ASC 480, ASC 815, ASC 320)
  • Tranched preferred (private equity)
  • Rights/obligations to purchase additional preferred shares
  • Warrants on preferred (private equity, ASC 480)
  • Equity based compensation including profit interests (ASC 718)
  • Volatility analysis (ASC 718)

Debt Instruments

  • Synthetic credit rating
  • Straight debt, callable and putable debt, intercompany debt
  • Mezzanine debt
  • Non-performing and fresh start debt
  • Loans, loan portfolios, lines of credit

Debt modifications (IRS Sec 249)

Hybrid Instruments

  • Convertible debt and convertible preferred
  • Embedded derivatives in convertible debt, convertible preferred, and other contingent contracts (ASC 815, EITF 07-5)
  • Debt extinguishments (EITF 96-16, EITF 06-6)
  • Effective interest rate on convertible debt (APB 14-1)

Structured Instruments

  • Auction Rate Securities
  • Asset Backed Securities
  • Mortgage Backed Securities
  • Collateralized Debt Obligations
  • Other structured instruments

Additional Resources

Learn how our team will deliver lasting results on your most important initiatives.

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Accounting Advisory

Explore our full suite of accounting advisory services, ranging from divestitures and de-SPAC mergers to initial public offerings and more.

Private Equity Services

Our private equity services enable private equity firms and their portfolio companies to drive results and maximize value creation.