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    01 BIWS Accounting Interview Reference PDF

    Uploaded by

    john

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    © All Rights Reserved
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    of 1

    Accounting Fundamentals

    Quick Reference Accounting Interview Questions

    http://breakingintowallstreet.com

    Abbreviations / Legend IS / BS Changes Cash Flow Statement Changes

    Revenue Deferred Income Taxes


    GP: Gross Profit IS: Revenue, GP, OI, PTI, NI IS: No Changes
    OI: Operating Income CFS: NI, CFO, NCIC CFS: Def. Taxes, CFO, NCIC
    PTI: Pre-Tax Income BS: Cash, SE BS: Cash, DTA or DTL (not both)
    NI: Net Income
    COGS Capital Expenditures
    WD: Write-Down IS: GP, OI, PTI, NI IS: No Changes
    WC: Working Capital CFS: NI, WC, CFO, NCIC CFS: CapEx, CFI, NCIC
    CFO: Cash Flow from Operations BS: Cash, Inventory, SE BS: Cash, PP&E

    CapEx: Capital Expenditures


    Operating Expenses Buy Investments
    CFI: Cash Flow from Investing
    IS: OI, PTI, NI IS: No Changes
    CFF: Cash Flow from Financing
    CFS: NI, CFO, NCIC CFS: Buy Investments, CFI, NCIC
    BS: Cash, SE BS: Cash, Investments
    NCIC: Net Change in Cash

    AR: Accounts Receivable Depreciation Issue Dividends


    AP: Accounts Payable IS: OI, PTI, NI IS: No Changes
    PP&E: Plants, Property & CFS: NI, Depreciation, CFO, NCIC CFS: Dividends, CFF, NCIC
    Equipment BS: Cash, PP&E, SE BS: Cash, SE
    DTA: Deferred Tax Asset
    DTL: Deferred Tax Liability Asset/Liability Write-Down Raise Debt
    SE: Shareholders Equity IS: PTI, NI IS: No Changes
    CFS: NI, WD, CFO, NCIC CFS: Issue Debt, CFF, NCIC
    When you get these questions in BS: Cash, Asset/Liability, SE BS: Cash, Debt
    interviews, always start with
    Income Statement changes, then AR (See Note) or Inventory Issue New Shares
    move to the Cash Flow Statement, IS: No Changes IS: No Changes
    then finish with the Balance Sheet CFS: WC, CFO, NCIC CFS: Issue Shares, CFF, NCIC
    to make sure both sides balance. BS: Cash, AR or Inventory BS: Cash, SE

    Change the items listed next to AP (See Note) or Deferred Rev. Note on AR and AP: The No
    BS: in each box to make the IS: No Changes Changes to the IS only applies if
    Balance Sheet balance. CFS: WC, CFO, NCIC these are decreasing, i.e. they are
    BS: Cash, AP or Deferred Revenue now being collected in cash or
    The same line items change (but
    with opposite signs) for the inverse paid out in cash.
    Accrued Expenses
    of each change listed here as well
    IS: OI, PTI, NI Otherwise, if they go up then
    (e.g. Purchase Shares rather than
    CFS: NI, WC, CFO, NCIC revenue should go up for AR and
    Issue New Shares).
    BS: Cash, Accrued Expenses, SE
    expenses should go up for AP.

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