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Mentor
What does rec mean
Reconfiguration
It's an accounting job
It’s a mini audit with some added analysis. Don’t get me wrong, the job is still quite different then a audit engagement, and if you’re looking for something a bit more stimulating, I’d definitely say FDD is it, but your goal is to give your client clear picture of what’s really going on in the financials. Plus, recing is, and always will be a common exercise in every finance job that requires you to present financials in any way. Made the jump from FDD to IB and I frequently reconcile stuff, and chase down issues.
And Ofcourse you need to work with good numbers but it’s just brutally obvious that it’s audit like where we care so much about tying amounts while other party’s on the deal are getting annoyed
From what I can tell as a M, it gets easier because you get to tell the staff/seniors to rec, rec, rec
Mentor
Even people in private equity need to make sure the numbers tie. It’s not exclusive to FDD
Mentor
If your TBs don’t tie you should be pushing back on the client, not trying to reconcile yourself.
It’s not a forward looking Finance role. The whole point is to provide comfort over historical accounting numbers so the main scope piece is grounding those numbers and then doing some cut and past analysis that usually can be offshored to India.