Thought Focus Senior Private Equity Fund Accountant Interview Questions, Process, and Tips

The day to day activities of a fund accountant involve maintaining financial records, reconciling transactions, preparing financial statements, and providing support to investors and auditors.

• Maintaining accurate financial records for the private equity fund

• Reconciling transactions and ensuring accuracy of investment data

• Preparing financial statements, including balance sheets, income statements, and cash flow statemen...read more

PPM and LPA are legal documents used in private equity funds.

• PPM stands for Private Placement Memorandum, which is a legal document that provides detailed information about a private equity fund to potential investors.

• LPA stands for Limited Partnership Agreement, which is a legal document that outlines the terms and conditions of the partnership between the general partner and limited partners in a private equity fund.

• ...read more

The footnotes section of an investment report provides information on the levels of investment.

• The footnotes section typically includes details on the types and amounts of investments made.

• It may provide information on the allocation of funds across different asset classes or sectors.

• Footnotes can also disclose any significant changes in investment strategies or portfolio composition.

• Examples of footnotes could include...read more

Accrual and cash entries impact the balance sheet differently.

• Accrual entry records revenue or expenses that have been earned or incurred but not yet received or paid.

• Cash entry records the actual inflow or outflow of cash.

• Accrual entry affects the income statement and balance sheet, while cash entry only affects the balance sheet.

• Accrual entry increases or decreases both revenue and expenses on the income statement, w...read more

A master-feeder structure is a common investment structure in private equity funds. Blockers and feeders are two types of entities within this structure.

• A master-feeder structure is used to pool capital from different types of investors into a single investment vehicle.

• The master fund is the main investment vehicle that holds the assets and makes the investments.

• Feeder funds are separate entities that pool capital from...read more