Apex Group Interview Questions, Process, and Tips

Accrual basis records revenue when earned and expenses when incurred, while cash basis records revenue when received and expenses when paid.

• Accrual basis matches revenue and expenses to the time period they occur, regardless of when cash is exchanged.

• Cash basis only records transactions when cash is exchanged.

• Accrual basis provides a more accurate picture of a company's financial health.

• Cash basis is simpler and easier...read more

SUM IF is used to calculate the sum of a range based on a single condition, while SUM IFS is used to calculate the sum of a range based on multiple conditions.

• SUM IF is a function in Excel that adds up values in a range that meet a specified condition.

• SUM IFS is a function in Excel that adds up values in a range that meet multiple specified conditions.

• SUM IF can only evaluate one condition at a time.

• SUM IFS can evaluat...read more

The journal entry for subscription involves recording the receipt of funds from investors, while the journal entry for redemption involves recording the return of funds to investors.

• For subscription, debit the cash or bank account and credit the subscription revenue or capital account.

• For redemption, debit the redemption liability or capital account and credit the cash or bank account.

• Example for subscription: Debit Ba...read more

Factors impacting NAV include market movements, fund expenses, income distributions, and capital gains.

• Market movements: Changes in the value of securities held by the fund can directly impact NAV.

• Fund expenses: Fees and expenses incurred by the fund reduce NAV.

• Income distributions: Dividends and interest earned by the fund increase NAV.

• Capital gains: Profits from selling securities at a higher price than purchased inc