Goblins,
BIG UPDATES - interview question answers are up, algorithm is initiated, new article on 3-statement.
LIVE QUESTIONS
☞ What is the beta of a lottery ticket? -Goldman
☞ What is the impact of lower debt on WACC? -Citi
☞ What happens to the 3-statements if you sell $20 inventory? -Evercore
Platform Updates
ANSWERS TO INTERVIEW QUESTIONS: we added a bunch of answers to interview questions so you can flip through and learn a lot more efficiently
‘MORE SIMILAR’ BUTTON: hit this button for questions you want to practice more of. We’re rolling out an algorithm which will account surface relevant questions to you faster - to quickly highlight and close gaps.
Yes we overhauled the question design language again yes it’s 90s textbook this week
Weekly Exploit: 3-Statement
This Week: 3-Statements
Visualize BS (left), IS (middle), CFS (right) as one continuous flow—IS measures value creation on accrual basis, CFS adjusts to cash reality, both feed the BS snapshot; master this mental map and you have a systematic checklist for any walkthrough
Work at the Pre-Tax Income line, not Revenue—ask "how much does this change Pre-Tax Income?" then apply taxes to get Net Income; don't waste time on Revenue → GP → EBIT unless they specifically ask for those subtotals
Use CFO as the bridge between accrual and cash—start with Net Income, add back non-cash charges (D&A, stock comp), then adjust for working capital timing differences (AR/Inventory increases are cash outflows, AP increases are inflows)
Lock in the three linkages that tie everything together—Net Income flows to Retained Earnings, Net Change in Cash flows to the Cash line, and Assets = Liabilities + Equity must always balance; missing any of these breaks your entire answer
→ Read the full article here.
Last Week: Learning Pathway
Learn sequentially, not by popularity—accounting unlocks valuation, valuation powers M&A, M&A logic extends to LBOs; the hierarchy matters more than volume stats, so build the foundation before chasing advanced topics
Master the mechanics before the judgment calls—you need to explain how depreciation flows through statements before you can debate terminal value methods; technical fluency is the entry ticket to applying strategic thinking
Interviewers test foundations through application—valuation multiples and accretion/dilution dominate question volume because they force you to prove you understand accounting, finance, and deal logic simultaneously
Connect the model to reality at every layer—accounting describes what happened, valuation assigns worth, deals show money in motion, and markets reveal where it flows next; if you can't link technical answers to real-world context, you're only halfway there
→ Read the full article here.
Nothin to me man.
Ever yours,
The Offer Goblin