Questions? Let me know in the comments happy to discuss. 🚀 Also, if you want to learn which finance frameworks the top 1% of founders use to scale their startups to massive outcomes, have a look at this ⇒ www.ericandrewsstartups.com/financeforstartups
I really like your point about asking the interviewer about their job or the company culture. I am always impressed as an interviewer when candidates ask me questions like this. It shows a lot of initiative!
Hi Eric, it's really encouraging to listen to someone who has worked in finance for so many years give people advice. I don't have any experience in the interview process but this gave me a bit of confidence for when the time comes. I hope to be able to speak to finance professionals such as yourself one day. Thank you!
You got this! I think if you look at this video, my 3 statement financial model (ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-xlXDZyZ9azk.html), and the DCF model (ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Gm0Xn_MidZ8.html) you would basically be ready for anything they could throw at you and more. Best of luck
Eric you are really good at what you do. All the points you mentioned about financial management were very clear such that anyone who does not understand finance Management would really get insights from it. Well done
Wow I love how I’m understanding It feels great being in a space where the talk is familiar to your ears 🤗🤗 First time coming by your page and it’s so helpful
I would make sure that you study the three statement financial model video that I have. Also make sure that you understand and study the typical debt management ratios like debt to ebitda and also understand free cash flow well. I haven't worked in that specific role but managing debt is all about downside protection, liquidity preferences, and financial ratios of the debt which we call covenants. Good luck
@@eric_andrews Hi Eric. Thanks to your video, I secured my job. I cannot thank you enough. Please make more videos. They are very helpful. Have a good day 😁
I have job interview for financial analysis next Monday it’s hard for me because I graduated 3 years ago from master of financial analysis and I worked as a self employed in different sector . Any advice for me. Thank you
@@sarahn3935 first, study the entire interview playlist, it has financial modeling lessons. After that, study my videos on both creating a budget and building the 3 statement financial model (links below), and I guarantee you will crush your interview: Internal budgeting model: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-yJcL4et-ClY.html 3 statement financial model: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-xlXDZyZ9azk.html
so for the Tesla delivery example, using the accrual method the cost of the car would show up as revenue on the income statement, but would be zero on the cash flow statement until it has been delivered?
Close, but actually would be the exact opposite of what you said. Any payments /costs would flow through the cash flow & balance sheet in real time but would be zero on income statement until delivery.
8:41 So Tesla is receiving money, so what entry they should be passing? Why cant they pass below entry? Cash A/c Dr Advance Income A/c Cr But you said they won't be showing Cash in Balance Sheet, so where they'll show their Cash which they have generated in January? Why cant they show that Advance Cash as Prepayment/Advance Income in B/s by passing my above entry?
They will be showing the cash on their balance sheet, but no revenue on their income statement until they deliver the car. The deferred revenue balance (liability) would go up correspondingly with the cash (when they receive pre-payment), but then the deferred revenue would disappear (drop down) when they deliver the car and report the revenue on the P&L.
@@eric_andrews ok got it. So dual effect of my entry will only affect Balance Sheet (Because both Cash and Prepayment are Asset and Liability) and nothing will be reported in Income statement by default. So my Journal entry was right?
@@RankaNikunj Ya I think so, from your description. But remember once the car is delivered, the revenue then gets reported on the income statement and gets simultaneously booked to the balance sheet to offset the deferred revenue. So the first entry is all on the balance sheet, but the senond hits the p&l and bs.
In the beginning just mention that you have some questions for them as well at the end. Usually they will ask if you have any questions anyway. But yes anyone interviewing you will be happy to receive questions
As a small business owner, I appreciate your content immensely. Thanks for all of this great material. Can you direct me to a business model for subscriptions? We've begun servicing the websites we built on a monthly basis and I would love to see this projected out with growth and 10% annual customer fall off. thanks!
Hey Zoltan - it's really my pleasure and thank you so much for diving in and checking everything out. Makes it all worth it for me! Absolutely - here's a video I build about creating a financial model for a subscription business and you can download the model for free in the description => ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-bsmyakxOPLY.html Instead of using the marketing to drive the new clients, you could just put the numbers in yourself. And then for monthly "churn" (customer fall off), you could put the numbers at 0% each month, and then 10% in December each year, that would give you an annual 10% churn. Please let me know if that is helpful, or you are looking for something more. Cheers!
Well, you're in the right place. Check out my finance interview series and I think you'll be pretty prepared ru-vid.com/group/PLdoBuNNnCmdXom4YXwTID-W1obBftGEEE
I don’t think that “Finance Staff need to create plan & project for the future”. I personally believe that boss or board of directors is familiar with the business that they are running or doing & the job for creating plan or projection for the future should be done by boss or board of directors, not finance staff, do you think so?
Disagree, every person in every role influences decisions. Best way to be successful is to be influential, form big ideas, promote & execute them, and if they are successful you will move up in the world. High-potential people have a huge impact on Day 1 !
@@vinodhakarthik8485 This is a really important question. First off, a good CFO will make the CMO way more effective, and vice versa. But how? Well, the way digital marketing works these days is that you can track all your marketing spend to see how many purchases you drive with your advertising. A finance person who deeply understands concepts like CAC (customer acquisition cost, ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-8WChmQuTeN0.html) will be able to understand marketing and support / partner with them to give them more budget when they are driving more revenue at lower costs, and will also know when to reduce budgets if marketing is not effective. If the finance team doesn't understand these digital marketing concepts like the marketing funnel (google it!), they will not be able to understand or support marketing, because they will be clueless to how well things are working. A good finance person makes everyone around them more effective.
I have a question. I am certain on getting a masters degree. More than likely in finance, but coming from a background that is not business. Non-engineering stem field. Are candidates with MS in Finance ineligible for entry level roles or how does the field generally view them? I am career-switching looking for entry-level role.
I hired someone with an MS in finance for an analyst role and he was awesome. If anything having a non-finance background mixed with a finance master's degree just makes you a more interesting candidate in my opinion.
Hi I am pursuing CMA USA. Is it useful for me to get to improve my degree of proficiency in finance as I had been in this field for the past one decade. For the exam point of view is it beneficial?
@@NIBUSVISUALCREATIONS To be a financial executive, you need experience working across various roles in finance, and a broad background in capital allocation strategy, financial modeling, and fundraising. From there it is just getting your experience across in an interview and having good communication. Good luck.
Re: Point for Finance Involved Allocating Capital I don’t understand that your video in Finance Interview Questions & Answers | For Entry-Level Roles mentioned that “Finance involved capital allocation”. I don’t think that Finance involved allocating capital. I think that allocation capital function is decided by board of director but not finance department team member. Finance role only provide information to board of director for making decision, is it correct?
Been getting a lot of comments asking about case studies in finance interviews 😎 so I just released a lesson on: Solving a Finance Case Study + Making a Recommendation ► ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-qURd_jDrQsI.html
Can you please help us to look into the Banner 9 finance for many people use it to help us create a budget spreadsheet or a interview questions that would be great? Thanks 😁
Everything takes practice and every expert needs to prepare for interviews. Just keep up the hard work learning because I guarantee some of your competition is not doing the preparation that you are right now. Good luck and I recommend checking out the finance case study on my channel as well if you need to brush up ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-qURd_jDrQsI.html
@@eric_andrews Thank you, i sure do need to practice. Btw do you have any other videos you can share for Chief Accountant position Thanks again. Be blessed
