Updated 2026
Accounting Interview Guide
Comprehensive Accounting guide for investment banking interview preparation
2
Lesson Levels
33
Flashcards
31
Quiz Questions
Lesson Outline
Review the fundamentals of financial statements, accounting principles, and key metrics used in financial analysis.
- 1. The Three Financial Statements
- The Income Statement (P&L)
- The Balance Sheet (B/S)
- The Cash Flow Statement (CFS)
- 2. The Income Statement in Depth
- 3. The Balance Sheet in Depth
- Assets (Left Side)
- Liabilities (Right Side)
- Shareholders' Equity
- 4. The Cash Flow Statement (Indirect Method)
- Cash Flow from Operations (CFO)
- Cash Flow from Investing (CFI)
- Cash Flow from Financing (CFF)
- 5. How the Statements Link Together
- Worked Example: \$100 Depreciation Increase (25% Tax Rate)
- 6. Accrual vs. Cash Accounting
- 7. Revenue Recognition & Deferred Revenue
- 8. Capitalizing vs. Expensing
- 9. Key Metrics: EBITDA and Working Capital
- EBITDA
- Net Working Capital (NWC)
- The Cash Conversion Cycle (CCC)
- 10. Financial Reporting: 10-K vs 10-Q
- 11. Key Financial Ratios
- Days Sales Outstanding (DSO)
- Days Payable Outstanding (DPO)
- Inventory Turnover
- 12. Mastering 3-Statement Questions
- What Are 3-Statement Questions?
- The Golden Rules
- How to Structure Your Answer
- 13. Simple 3-Statement Worked Examples
- Example 1: Company Pays \$50 in Cash for Inventory (No Tax Impact)
- Example 2: Company Collects \$30 of Accounts Receivable
- Example 3: Company Issues \$100 of Debt
- Example 4: Company Pays \$20 Dividend to Shareholders (25% Tax Rate)
- Example 5: Company Buys \$80 of Equipment (CapEx) with Cash
- Example 6: Revenue Increases by \$100 (25% Tax Rate, All Cash)
- Example 7: Operating Expenses Increase by \$40 (25% Tax Rate)
- Example 8: Share Repurchase of \$50
- Example 9: Deferred Revenue Recognition (\$20)
Flashcards
33 flashcards
Walk me through the three financial statements.
Technical
Review Module
Accounting
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Question 1 of 33
Practice Quiz
31 questions
Question 1 of 31
Which of the following represents the Fundamental Accounting Equation?
About This Accounting Interview Guide
Review the fundamentals of financial statements, accounting principles, and key metrics used in financial analysis. Includes structured lessons, interactive flashcards, and practice quizzes to help you master Accounting for investment banking interviews.
This guide is part of the Core Concepts section of our interview preparation platform. Each guide includes structured lessons at basic and advanced levels, interactive flashcards for active recall, and practice quizzes to test your understanding.
Structured Lessons
Basic and advanced content levels
33 Flashcards
Active recall for interview prep
31 Quiz Questions
Test your understanding
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I personally found that the 'IB Vine Select' collection had some of the exact questions I was asked in my Qatalyst interviews.
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Thanks for starting up IB Vine. Couldn't have landed my offer without your help!
User Story
I honestly think you're doing gods work since IB Vine democratizes the whole interview process and helps a lot of students ace their interviews.
Analyst
I found this website really helpful, which also helps me better prepare for the technical interview in IBD position and get an offer.
Seen on WallStreetOasis
Check out IB Vine, specifically the 'IB Vine Select' questions. Once you can get a handle of those, it seems like you are in a spot where you're applying the concepts rather than simply memorizing them
Analyst
I've used IB Vine for my recruitment, and I could not imagine the journey without it. Thank you for creating a phenomenal resource.
Seen on WallStreetOasis
Beyond the 400 questions guide, try to understand a deeper level and the underlying concepts of the questions being asked. Use ibvine, it really helps.
Seen on WallStreetOasis
IB Vine has excellent questions, especially multistep ones. In my experience I've gotten grilled on accretion/dilution, bond math, and merger model questions. IB Vine has great practice for all of those.
User Story
As a nontraditional transfer student who has been rendered unavailable to many resources at my university (Leadership positions at clubs, immediately behind the recruiting cycle, etc.) IB Vine has been an absolute game changer in my IB prep.
Seen on WallStreetOasis
From my experience interviewing FT for IB, it’s not enough to just know the 400 questions anymore (it’s a good starting point) but to look at even more advanced questions. Would recommend IB Vine.
Seen on Twitter
heard all the new kids use IB Vine now. the questions on IB Vine helped me get the concepts down when I had to recruit and make a lot of BB/MM interviews easier than I expected for techs
User Story
Just got off the phone with a kid who interned at a Dallas PE firm. He mentioned that IBvine.io helped him secure that internship as well as his Summer Analyst offer, especially since he came from a non-target with no resources.
Analyst
The IB Vine technical prep is beyond helpful, it's so much more fun quizzing myself every now and then vs. reading through the guides again.
Analyst
I personally found that the 'IB Vine Select' collection had some of the exact questions I was asked in my Qatalyst interviews.
Analyst
Thanks for starting up IB Vine. Couldn't have landed my offer without your help!
User Story
I honestly think you're doing gods work since IB Vine democratizes the whole interview process and helps a lot of students ace their interviews.
Analyst
I found this website really helpful, which also helps me better prepare for the technical interview in IBD position and get an offer.
Seen on WallStreetOasis
Check out IB Vine, specifically the 'IB Vine Select' questions. Once you can get a handle of those, it seems like you are in a spot where you're applying the concepts rather than simply memorizing them
Analyst
I've used IB Vine for my recruitment, and I could not imagine the journey without it. Thank you for creating a phenomenal resource.
Seen on WallStreetOasis
Beyond the 400 questions guide, try to understand a deeper level and the underlying concepts of the questions being asked. Use ibvine, it really helps.
Seen on WallStreetOasis
IB Vine has excellent questions, especially multistep ones. In my experience I've gotten grilled on accretion/dilution, bond math, and merger model questions. IB Vine has great practice for all of those.
User Story
As a nontraditional transfer student who has been rendered unavailable to many resources at my university (Leadership positions at clubs, immediately behind the recruiting cycle, etc.) IB Vine has been an absolute game changer in my IB prep.
Seen on WallStreetOasis
From my experience interviewing FT for IB, it’s not enough to just know the 400 questions anymore (it’s a good starting point) but to look at even more advanced questions. Would recommend IB Vine.
Seen on Twitter
heard all the new kids use IB Vine now. the questions on IB Vine helped me get the concepts down when I had to recruit and make a lot of BB/MM interviews easier than I expected for techs
User Story
Just got off the phone with a kid who interned at a Dallas PE firm. He mentioned that IBvine.io helped him secure that internship as well as his Summer Analyst offer, especially since he came from a non-target with no resources.
Analyst
The IB Vine technical prep is beyond helpful, it's so much more fun quizzing myself every now and then vs. reading through the guides again.
Analyst
I personally found that the 'IB Vine Select' collection had some of the exact questions I was asked in my Qatalyst interviews.
Analyst
Thanks for starting up IB Vine. Couldn't have landed my offer without your help!
User Story
I honestly think you're doing gods work since IB Vine democratizes the whole interview process and helps a lot of students ace their interviews.
Analyst
I found this website really helpful, which also helps me better prepare for the technical interview in IBD position and get an offer.
Seen on WallStreetOasis
Check out IB Vine, specifically the 'IB Vine Select' questions. Once you can get a handle of those, it seems like you are in a spot where you're applying the concepts rather than simply memorizing them
Analyst
I've used IB Vine for my recruitment, and I could not imagine the journey without it. Thank you for creating a phenomenal resource.
Seen on WallStreetOasis
Beyond the 400 questions guide, try to understand a deeper level and the underlying concepts of the questions being asked. Use ibvine, it really helps.
Seen on WallStreetOasis
IB Vine has excellent questions, especially multistep ones. In my experience I've gotten grilled on accretion/dilution, bond math, and merger model questions. IB Vine has great practice for all of those.
User Story
As a nontraditional transfer student who has been rendered unavailable to many resources at my university (Leadership positions at clubs, immediately behind the recruiting cycle, etc.) IB Vine has been an absolute game changer in my IB prep.
Seen on WallStreetOasis
From my experience interviewing FT for IB, it’s not enough to just know the 400 questions anymore (it’s a good starting point) but to look at even more advanced questions. Would recommend IB Vine.
Seen on Twitter
heard all the new kids use IB Vine now. the questions on IB Vine helped me get the concepts down when I had to recruit and make a lot of BB/MM interviews easier than I expected for techs
User Story
Just got off the phone with a kid who interned at a Dallas PE firm. He mentioned that IBvine.io helped him secure that internship as well as his Summer Analyst offer, especially since he came from a non-target with no resources.
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