Wall Street Prep

Excel LAMBDA function: 7 Real World Examples to Get You Started (Step-by-step Videos)

Microsoft announced the launch of the LAMBDA on December 3, 2020 and it is probably safe to say we've never seen this much excitement from the Excel MVP community. And that's saying a lot ... Read More

US GAAP vs IFRS: Differences, Similarities & Examples (PDF Cheat Sheet)

In this article, we will outline key differences between US GAAP vs IFRS.  US GAAP and IFRS are the two predominant accounting standards used by public companies throughout the world. In order to present ... Read More

The Ultimate Guide to the VC Cap Table (Including Excel Template)

A VC Cap Table (capitalization table) is created by venture capital partners and their legal teams to provide a summary of the investor and employee ownership in a startup or venture-backed business. In the ... Read More

Liquidation Preferences: Guide to Understanding VC Deal Terms

The liquidation preference is perhaps one of the most important clauses found in a VC term sheet. A liquidation preference represents the amount the company must pay at exit (after secured debt, trade creditors, ... Read More

The Ultimate Guide to the VC Term Sheet (Term Sheet Template)

The VC Term Sheet establishes the specific conditions and agreements of venture investments between an early-stage company and venture firm. The term sheet is short, usually less than 10 pages, and is prepared by ... Read More

VC Valuation: 6 Steps to Valuing Early Stage Firms (Excel Template)

Valuation is perhaps the most important element negotiated in a VC term sheet. While key valuation methodologies like Discounted Cash Flow (DCF) and Comparable Company Analysis are often used, they also have limitations for ... Read More

Best Real Estate Books for Breaking into Real Estate Investing

As a real estate private equity professional, I have certain "must-read" books on my bookshelf.  Below is a list of those books, broken down by book types. Please note that we do not get ... Read More

Advanced LBO Modeling Test: 4 Hour Example

In this post, we will go through an advanced, 4-hour LBO modeling test, step-by-step. If you are interviewing with the leading upper-middle market firms and mega-funds, you should prepare to encounter an Advanced LBO ... Read More

Real Estate Financial Modeling Tutorial

In this article, we will walk you through a back-of-the-envelope ("BoE") Multifamily Acquisition Model that introduces some of the core real estate financial modeling concepts and those tested during the real estate private equity ... Read More

RIP INDEX MATCH? Here's an example where XLOOKUP Loses

XLOOKUP has been crowned the new king of Excel reference functions, even defeating the mighty index match. But it's not a complete victory. Here is an example of Index Match (more accurately - INDEX ... Read More

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The Wall Street Prep Quicklesson Series

7 Free Financial Modeling Lessons

Get instant access to video lessons taught by experienced investment bankers. Learn financial statement modeling, DCF, M&A, LBO, Comps and Excel shortcuts.