Dear Community,
I want to prepare for case interview (long term prep). I want to learn about the business itself before.
Currently, Trying to decide which introductory-level accounting course should I take. Financial Accounting or Managerial Accounting. Which one will be more useful for case interview/ working as consultant ?
Thank you for your help
Hi there,
In terms of case interviews, you don’t need either of the two. You just need to know how to read a basic balance sheet and P&L, the basic ratios (eg P/E) and the basic financial formulas (eg breakeven). If you do 5-10 M&A/PE cases with P&L and/or balance sheet you should be fine.
In terms of the job, Financial Accounting could definitely be useful, in particular for due diligence, M&A and PE projects.
Best,
Francesco
Hi Anonymous,
I believe it's not a right or wrong decision to take - but I'd definitely start with financial accounting since in reality this is also the basis for managerial accounting.
And financial accounting is like business 101 knowledge - just the basis for many other topics to cover, and having a solid understanding of balance sheet, profit and loss statement as well as cashflow statement is definitely required.
Hope that helps - if so, please be so kind to give it a thumbs-up with the green upvote button below!
Robert
Hi there,
To be honest, you really only need to know basic accounting for cases, however it can't hurt to take a course in it.
I'd opt for Financial Accounting as it truly lays the groundwork for how businesses operate.
Dear A,
I don't know the curiculum for both courses, but from the name I would rather pick up managerial accounting.
Hope it helps and wish you best of luck,
André
