Senior Associate 3 Interview Questions and Answers

VLOOKUP should not be used when the data is not sorted or when you need to retrieve data from the left of the lookup column.

• Do not use VLOOKUP when the data is not sorted in ascending order.

• Do not use VLOOKUP when you need to retrieve data from the left of the lookup column.

• Instead, use INDEX MATCH function for non-sorted data or when retrieving data from the left.

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 to understand.

• Example: Accrual basis records a sale when ...read more

Private equity is a type of investment where funds are raised from institutional and high-net-worth investors to acquire equity ownership in companies.

• Private equity firms raise capital from investors to acquire ownership stakes in companies

• They aim to improve the performance of the acquired companies and eventually sell them for a profit

• Private equity investments are typically long-term and involve active management of the companies

• Examples of private equity firms include Th...read more

Accrual is the process of recognizing revenues and expenses when they are incurred, regardless of when cash is exchanged.

• Accrual accounting matches revenues to the time period in which they are earned and expenses to the time period in which they are incurred.

• It helps in providing a more accurate picture of a company's financial position and performance.

• Examples include recognizing revenue when a service is provided, even if payment has not been received yet, or recording exp...read more