A lot of interview modelling guides focus on accounting nuances. This is obviously different from just building a model that spits out cash flow. Are you ever tasked with building a three statement model that is done on an accrual basis / in accordance with GAAP? If so, what is the scenario / use case?
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I have never done this
Don't even understand what you're saying - FCF is inherently a non-GAAP metric so its impossible to build a GAAP model?
Your response indirectly answered my question. However, it's certainly not impossible to build a GAAP model. I can build a three statement model that's in accordance with GAAP I have just never been asked to. Taking a 10K and building a standard LBO model is just converting GAAP statements to a cash build. You could instead take public company financials and build a GAAP model. You typically don't have the required information to do so, but if you owned the company you would.
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