How much accounting do you do as a Summer Analyst / 1st year analyst
Was just wondering how much accounting you do or modeling as a summer analyst or a 1st year analyst. Let me know!
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My sophomore internship in ER I did a lot of financial modeling. The truth is, until they trust you and think you can handle it they typically will keep you off of models or at least very minimally. If you really want to stand out, do your best to understand how all the different ways the statements flow and be able to model it. If you have peers learning to model, ask to fix their models when they don’t balance. This will all help you stand out and have more value come summer. When I was updating models for my team as earnings came out, it was a big help and made me more integrated into the team.
What’s the best way to try and figure out to make the Balance sheet balance? Training or learning videos that you did to help you do that?
Honestly, watching financial statement modeling videos and going over the advanced accounting technicals til the point where you’re not just memorizing the answers but understanding why the answers are the way they are. Because once you understand how the statements flow and balance, it is truly much easier to see what’s happening and catching errors.
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Barely any as a SA — mainly slides, comps, and research.
Picks up a bit as a first-year, but still pretty basic. Let’s just say there’s a reason they don’t mind hiring liberal arts majors (like myself) for the role.
How much do you need to know? - not very much they'll teach you everything you need to know during training.
That being said knowing various accounting concepts can be a good way to stand out. I got my masters and undergrad in accounting and after stepping up a few times I've gotten some pretty cool at bats from my seniors / staffed on more interesting deals. If you have the time maybe see if your school has any 1 hour special topics seminars or lets you audit an intermediate accounting course for no grade. I wouldn't stress over it plenty of ppl come in with no business background and do very well.
JPM M&A lets you model as first year
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