Wells Fargo Operations Associate Interview Questions, Process, and Tips

Balance sheet is a financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.

• Balance sheet provides a snapshot of a company's financial position

• It consists of assets (what the company owns), liabilities (what the company owes), and shareholders' equity (the difference between assets and liabilities)

• The balance sheet equation is: Assets = Liabilities + Sharehold...read more

General ledger is a complete record of financial transactions of a company, organized by accounts.

• It is a key component of the accounting system

• It includes all assets, liabilities, revenue, and expenses

• Helps in tracking financial transactions and preparing financial statements

• Provides a snapshot of a company's financial health at a specific point in time

Accrued interest is the interest that accumulates on a financial instrument between the payment dates.

• Accrued interest is the interest that has been earned but not yet paid out or received.

• It is typically calculated on a daily basis and added to the principal at the end of an interest period.

• Accrued interest is common in bonds, where interest payments may be made semi-annually or annually.

• Investors who purchase a bond ...read more