Do you need too know technical accounting journal entries to make it in FDD? Like you guys actually know journal entries like leases ? Depreciation? I don’t buy it feel like that’s more for the financial accounting advisory group. Please advise what skill set makes one good at FDD?

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Yeah you gotta know journal entry mechanics to do this job with any degree of competence

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If you can’t think through debits and credits you’re not going to get that far in FDD.

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It definitely helps to be familiar with basic entries, but our FDD counterparts heavily lean on us (AAS) for more technical aspects on deals (e.g., rev rec considerations, etc.).

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Yes you’d need to know the basics and the concepts, but any real technical topics like lease accounting, inventory capitalization we’d include FAAS team to help on the deal.

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Just gotta know the basics. Most people in FDD are not overly technical (compared to accounting advisory)

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To be clear - basics means you should know what 606, 842, and etc are (I’ve come across college hires who don’t which was surprising) and generally how they apply to financials. But do I know the technical accounting behind some very nuanced or specific cases? Def not - we have AAS support the team as needed there

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I'm thinking about debits and credits multiple times per day at minimum as an SM.

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