Finance Deal Basics For Students
This conversation was generated using Cook'd AI's career assistant and reviewed by Fallon Han from our editorial team for accuracy.
I am a first-year undergrad in Australia and I want to apply for Big Four transaction advisory internships. Can you run a beginner-friendly interview for me and tell me what you would look for? I have very limited accounting and deal experience.
Absolutely. For this kind of entry-level advisory screen, I would test three things: whether you understand what transaction advisory does, whether you can follow basic accounting and deal concepts, and whether you can explain your thinking clearly. A strong answer does not need deep technical knowledge, but it should show curiosity, commercial awareness, and a willingness to learn. I would start with a simple question: What do you think transaction advisory teams actually do for clients?
I think they help companies buy or sell businesses, and they look at the numbers to see if the deal makes sense. They probably help with due diligence and maybe valuation too.
Good start. That is the right direction. You have identified the main themes: due diligence, valuation, and support on transactions. To improve your answer, be a bit more precise. Transaction advisory usually helps clients understand the risks and quality of a target business before a deal closes. They may review historical financials, check working capital, assess debt and cash, and help the client negotiate the price or terms. If I asked you why a buyer would care about due diligence, what would you say?
Because they do not want to overpay or buy a business with hidden problems. They need to know if the earnings are real and whether there are debts or issues that could reduce the value.
That is a solid answer. You are showing commercial logic, which matters more than memorised jargon at your level. I would also like to hear some basic accounting reasoning. For example, if a company reports higher revenue but much worse cash flow, why might that happen?
Maybe because it sold more on credit, so the cash has not come in yet. Or it could have made accounting adjustments that increase revenue without bringing in cash.
Excellent. That is exactly the kind of entry-level thinking we want. You linked profit and cash, and you gave a sensible example with credit sales. In a real interview, I would mark this as a good foundation. To reach a stronger internship level, you should also practice speaking about a simple deal process from start to finish, like business review, due diligence, valuation support, and negotiation. Final feedback: you come across as coachable and commercially aware, but you should tighten your answers and use more accounting terms confidently. If you want, I can now score this interview and give you a full evaluation report with strengths, gaps, and model answers.