skills/merger-model-builder/references/qa-checks.md

# QA Checks Map

Hard failures: unbalanced sources/uses, bad mix, missing PF shares/EPS, failed sensitivity direction, unreconciled PPA, missing source categories, invalid tax, impossible negatives, or missing base/downside/upside.

Warnings/red flags: placeholders, weak synergies, excluded costs, preliminary tax/PPA, stale shares, placeholder financing, adjusted-only accretion, amortization add-backs, high goodwill, or omitted fees/lost interest.

For `adjusted_eps_screen`, confirm the first visible tab separates `Calculation integrity` from `Decision readiness`, states that GAAP accretion/dilution is not presented without complete support, distinguishes disclosed pretax net synergies from clearly labeled implied cost-to-achieve and modeled after-tax benefit, and includes synergy-realization, cost-to-achieve overrun or delay, and EPS-breakeven analysis. Checks should reconcile the after-tax benefit, the 100% synergy case and EPS breakeven rather than relying on a merely directional with-synergies comparison.