Remove Books Remove Financial Models Remove Financial Statement
article thumbnail

Decoding the Investment Banking Interview Process

Wizenius

Candidates are often given a case study round in which they are expected to create a financial model along with a set of few company and/or industry slides as a part of the selection process. Typically, the interview structure for junior to mid senior positions in IB involve Case Study round followed by technical round(s) of interview.

article thumbnail

Trial Balance

Wall Street Mojo

They are written up in a trial balance (a type of financial report) and finally summed up to see if the total debit balances and the total credit balances should be tallied. At the end of every accounting period the accounting books are to be closed and preparing the trial balance is the first step towards it.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Sales Return Journal Entry

Wall Street Mojo

Sales Return in terms of payroll journal entry can be defined as the one which shall be used to account for the customer returns in the books of account or to account for when there is a return of goods sold by the customer due to defective goods sold, or misfit in requirement of the customer, etc. What Is Sales Return Journal Entry?

Sale 98
article thumbnail

Operating Lease Accounting

Wall Street Mojo

The lessee records rental payments as expenses in the books of accounts. Unlock the art of financial modeling and valuation with a comprehensive course covering McDonald’s forecast methodologies, advanced valuation techniques, and financial statements. Show the journal entry for the operating lease transaction.

article thumbnail

Reconciliation Statement

Wall Street Mojo

It aims to nullify the difference in the same or next accounting period Accounting Period Accounting Period refers to the period in which all financial transactions are recorded and financial statements are prepared. read more to have parity in the books of accounts of both legal entities.

article thumbnail

Accrued Interest Formula

Wall Street Mojo

Unlock the art of financial modeling and valuation with a comprehensive course covering McDonald’s forecast methodologies, advanced valuation techniques, and financial statements. Similarly, a company that has debts in its books will have to report the amount of interest accrued for the bonds it has lent.

article thumbnail

Accounting Information System (AIS)

Wall Street Mojo

They are typically derived from sources like the payroll system, financial statements, reports, sales and purchase data, invoices, inventory , etc. Data can be anything like sales ledger Sales Ledger A sales ledger is a ledger entry that records any sale in the book of records, even if the payment is received or not yet received.