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Day: July 7, 2023

Top 10 Power BI Interview Questions and Answers [For Freshers and Experienced]

Posted on by Imarticus Learning

Business intelligence or BI posed a considerable challenge to Microsoft back in 2011. It made them build their own BI tool and compete with various analytical capabilities of the existing Microsoft Excel. This not only upgraded the entire programming but also helped in generating interactive reports. 

Nowadays, Power BI has taken over the world with its robust features, intuitive features and widespread adoption. It provides connectivity to various data sources and facilitates collaborative decision-making. Power BI has revolutionised the way businesses analyse and interpret their data to make informed decisions.

The career prospects of Power BI are quickly growing as businesses rely more and more on data visualization and business intelligence to inform their decisions. Roles such as BI Developer, Data Analyst, and BI Consultant are in high demand in a variety of sectors, including banking, healthcare, retail, and technology.

Preparing well for Power BI interview questions is crucial for anyone hoping to land these positions. This preparation not only allows you to showcase your experience in topics such as DAX (Data Analysis Expressions), Power Query, and data modeling, but it also keeps you up to date on the tool’s latest developments. Getting enough hands-on practice and the ability to transform complex data into meaningful insights is important. With thorough preparation, you can effectively highlight your technical skills, problem-solving skills, and expertise in working with Power BI to achieve business success while greatly enhancing your chances in the highly competitive job market. 

become a Data Analyst

In this article, let’s understand the concepts of Power BI along with some beginner, expert and intermediate-level Power BI interview questions. 

What is Power BI? 

Power BI is a scalable, unified platform for self-service and businesses. It helps to connect and visualise all kinds of data and also seamlessly infuses visuals into various applications one might use daily. 

Power BI is beneficial for both technical and non-technical business users. It is classically used for commercial purposes for analysing, aggregating, visualising and sharing data. Even though its User Interface is fairly similar to Microsoft Excel, it is a much more versatile self-service tool which can be operated through upfront training. 

Power BI Interview Questions for Freshers 

What is Power BI? 

It is a known business analytics tool by Microsoft that uncovers valuable data sources into various valuable interactive insights. It can either be in the form of an Excel or a spreadsheet or can be spread across the cloud via different data warehouses. 

Why should one use Power BI? 

Power BI benefits a technical person, and even a non-technical individual can access it to connect, visualise and change their raw business data from varied sources into valuable data. This, in turn, helps in making smart business decisions. 

Difference between Power BI and Tableau 

Both Power BI and Tableau are one of IT’s leading data analytics tools that are also known for their impeccable visualisation skills. Even though they just have a few significant differences, like Power BI uses DAX for calculating measures while Tableau uses Tableau Calculation Language (TCL). Other than that, Power BI is a great analytical tool to be used by beginners, whereas Tableau has to be mastered by an experienced technical person. 

What are Power Pivot and Power Query? 

Power Pivot is a data gathering and data transformation tool which uses an in-memory data modelling component. Power Query is an ETL service tool which is used to analyse raw data. 

Power BI Interview Questions for Intermediate Level 

Where is data storage made in Power BI? 

Power BI is often assisted by cloud storage to store the data. However, Power BI is also capable enough to use a desktop service. Microsoft Azure is the primary cloud service for data storage. The other storage platforms are: 

  • Azure SQL Database 
  • Azure Blob Storage

Why should one apply general formatting in Power BI? 

General formatting in Power BI makes it easy to categorise and identify data. This also facilitates a seamless work environment and gains results in no time. 

What are the various versions of Power BI? 

The various versions of Power BI are: 

  • Power BI desktop
  • Power BI service
  • Mobile Power BI apps

    What are the critical components of the Power BI toolkit? 

The critical components of the Power BI toolkit are: 

  • Power Query 
  • Power Pivot
  • Power View
  • Power Map
  • Power Q&A

Power BI Interview Questions for Experienced 

List the standard techniques of data shaping 

Power BI uses data shaping to integrate various kinds of data. The standard techniques of data shaping in Power BI are: 

  • Adding indexes 
  • Applying for sort order 
  • Removing rows and columns

What are the fundamental concepts of Power BI? 

Syntax: This comprises a formula with elements. It also included functions like SUM, where you need to add figures. If the syntax is not correct, you will get an error message. 

Functions: These formulas comprehensively use specific arguments or values for calculations that are similar to various functions in Excel. The formulas comprise date/time, time intelligence, logical, statistical, and mathematical contexts. 

Context: These formulas consist of two categories: row context and filter context. Row contexts are used when the formula consists of a specific function to identify the personalities of every single row. When more filters are employed in the calculation, that is when filter context comes into play. 

Conclusion 

Power BI has now become an integral part of the tech industry. Companies are now striving to incorporate Power BI in their business model to gain more appropriation. 

If you are interested in taking up a course where you can learn all about Power BI interview questions and other aspects of data analytics, check out Imarticus Learning’s Postgraduate Programme in Data Science and Analytics. This is an ideal job opportunity for a tech professional and also for freshers. 

How the Derivatives Market Drives Investment Banking – Explain

Posted on by Imarticus Learning

In today’s dynamic financial world, the derivatives market plays a crucial role in driving the world of investment banking. As an aspiring investment banking professional, understanding the workings of the derivatives market can significantly enhance your financial knowledge. It can open up new areas for strategic investment opportunities. In this article, we will explore the derivatives market. We will also shed light on its crucial role in the field of investment banking. We will also explore one of the best investment banking certifications in India.

What is the derivatives market?

Investment Banking Training

The derivatives market refers to a financial marketplace where investors trade financial instruments. These financial instruments are known as derivatives. These derivatives derive their value from an underlying asset, such as stocks, bonds, or currencies. They include options, swaps, and forward contracts. These provide investors with the opportunity to speculate on price movements. It also helps in hedging risks, and managing exposure to various financial assets.

Role of derivatives market in investment banking

1. Risk management: The derivatives market allows investment banks to manage and mitigate risks. It helps in managing risks associated with fluctuations in interest rates and currency exchange rates.

2. Hedging: Investment banks utilise derivatives to hedge against potential losses. It helps take offsetting positions in the derivatives market, thereby reducing market volatility.

3. Speculation: Derivatives provide investment banks with the opportunity to speculate on price movements. It helps generate profits through buying or selling contracts without owning the underlying asset.

4. Liquidity enhancement: The derivatives market enhances market liquidity by facilitating the trading of financial contracts. It also helps in enabling investors to buy or sell assets with ease.

5. Price discovery: Through the derivatives market, investment banks contribute to price discovery. The derivative contracts help determine the fair value of the underlying assets.

6. Arbitrage opportunities: Investment banks leverage the derivatives market to identify and exploit arbitrage opportunities. It helps in taking advantage of price changes between different instruments.

7. Portfolio diversification: The derivatives market enables investment banks to diversify their portfolios. This helps in providing access to a wide range of financial instruments. By investing in derivatives linked to different assets, investment banks can potentially increase returns.

8. Capital Efficiency: Derivatives are key for investment banks to boost capital efficiency. They let banks get asset exposure without spending big bucks. Instead of physically owning assets, they can invest less capital and still benefit. It’s like getting the best of both worlds: less money spent, but still reaping the rewards. Derivatives make it happen!

Imarticus Learning’s Certified Investment Banking Operations Professional Programme

Imarticus Learning offers the Certified Investment Banking Operations Professional programme. It is a comprehensive course designed to equip individuals with the necessary skills to excel in this exciting field. With a duration of 150 hours, this programme ensures a thorough understanding of the key concepts and practices within the industry. Various benefits of the Certified Investment Banking Operations Professional programme are as follows:

Imarticus Learning provides various career services. These include resume building, interview preparation and job placement assistance. These enhance your chances of securing a rewarding position in the investment banking sector.

Upon completion of the programme, you will receive a recognised certification. This validates your expertise and credibility in investment banking operations.

The programme includes experiential learning, real-world case studies, simulations and practical exercises. These provide hands-on exposure to the challenges encountered in investment banking.

Imarticus Learning guarantees job assured to all participants. This ensures a promising job in the investment banking domain.

The course incorporates various live training modules. These help in enabling interactive learning experiences and interactions with industry experts.

The programme covers a wide range of topics. These topics include investment banking products, financial markets, regulatory frameworks and more.

Final thoughts

The derivatives market is like the engine that drives investment banking. It’s full of opportunities for investors and financial institutions. To succeed in investment banking, you need to understand derivatives. They help manage risks, boost liquidity and offer speculation possibilities. Imarticus Learning has the Certified Investment Banking Operations Professional programme that prepares you for this field.

Once you complete the programme, you get a recognised certification. It adds credibility to your profile and opens doors to exciting job opportunities. The certification proves your expertise in investment banking operations, giving you an advantage in the job market. The programme’s best part? It guarantees you job interviews, 100%! No more worrying about your career transition. You can focus on learning, knowing that a job awaits you at the end. It’s a confidence booster, ensuring a positive outcome.

Imarticus Learning’s programme sets you up for success in investment banking.

Grab this opportunity and unleash your potential in the financial world!

The Role of Forensic Accounting in Investigating Financial Crimes

Posted on by Imarticus Learning

Forensic accounting is the process of reconstructing a business’ financial history to determine whether it has been fraudulent. Forensic accountants analyse the company’s financial records, including accounts receivable, accounts payable, and inventory.

What Areas Do Forensic Accountants Work In?

1. Investigating business economic losses and bankruptcy 

Forensic accountants collaborate with businesses, creditors, and bankruptcy trustees to examine potential fraud or mismanagement of assets in business bankruptcies or situations involving economic losses.

2. Examining family and marital disputes

Forensic accountants operate alongside attorneys and clients to investigate possible fraud or misappropriation of assets in divorce or other family disputes.

3. Tracing hidden or misappropriated assets

Forensic accountants conduct searches for assets transferred or concealed by individuals or businesses.

4. Verifying insurance claims

Forensic accountants investigate insurance claims to determine their legitimacy.

5. Detecting money laundering

Forensic accountants identify financial crimes, report relevant information to law enforcement agencies, and potentially collaborate with them as local partners.

What Are the Roles and Responsibilities of Forensic Accountants? 

Forensic accountants utilise their accounting, and analysis expertise to examine businesses facing allegations of financial impropriety. Their role involves:

  • Probing financial crimes.
  • Generating detailed reports on their discoveries.
  • Potentially providing expert testimony during legal proceedings.
  • It is crucial for them to effectively articulate the intricacies of the offence in a courtroom setting.

Some of the responsibilities of a forensic accountant are as follows:

Investigating financial statements

Forensic accountants analyse financial records to detect fraud and unlawful activities, adhering to Generally Accepted Accounting Principles (GAAP). 

They meticulously review accounts for anomalies and patterns, requiring expertise beyond basic accounting, including criminalistics and advanced data analytics using a systematic approach.

Identifying potential fraud and money laundering activities

A forensic accountant protects a business’s financial and legal interests by identifying potential fraud and money laundering activities. They possess knowledge of legal proceedings, accounting procedures, and computer applications when necessary.

Businesses can prevent detrimental outcomes such as financial theft, securities fraud, bankruptcy, debt default, M&A-related economic damages, tax evasion/fraud, or complications in divorce proceedings by detecting fraud or money laundering.

Analysing financial records

Financial record analysis is crucial in forensic accounting to unveil hidden fraudulent or illegal activities.

Forensic accountants use precise attention to detail, effective interpersonal communication, and objective judgment to identify inconsistencies and assess the records’ accuracy.

This understanding enables them to construct compelling cases for criminal or civil proceedings.

Investigating financial crimes

Forensic accountants have critical responsibilities, including investigating economic crimes, uncovering fraud, offering expert testimony, identifying income/assets, analysing complex financial data, advising on legal matters, and collaborating with law enforcement to detect fraud and money laundering.

Advising on legal and regulatory compliance

Forensic accountants play a vital role in providing legal and regulatory compliance advice. They monitor financial records to safeguard assets and offer guidance to ensure all firm activities align with applicable laws and regulations.

Asset tracing and recovery

Tracing missing or misappropriated assets is a crucial area of expertise for forensic accountants.

Forensic accountants use various techniques such as investigating contracts and royalty agreements, analysing financial records and utilising software tools to locate and identify these assets.

Their comprehensive reports and testimonies contribute to successful asset recovery efforts.

Contract negotiation support

Forensic accountants play a vital role in contract negotiations, providing valuable insights into past performance and financial data. Their expertise in complex financial investigations helps ensure adherence to agreement terms and facilitates favourable talks for the company.

Which Types of Criminal Investigations Are Handled by Forensic Accountants?

Forensic accountancy is applied to diverse investigations, covering various areas such as:

  • Securities manipulation inquiries
  • Employee misappropriation cases
  • Fraudulent insurance claim examinations
  • Identity theft investigations
  • Uncovering fabricated financial statements

In addition, forensic accountants contribute expertise to civil matters like:

  • Tracing concealed assets in divorce proceedings
  • Resolving contractual breaches and warranty disputes
  • Analysing conflicts related to company acquisitions
  • Assessing arguments over business valuations

Furthermore, their involvement extends to investigations involving:

  • Unlawful expropriations
  • Evaluation of construction claims
  • Probing patent or trademark infringements
  • Resolving product liability claims
  • Quantifying financial damages arising from breaches of agreements or nondisclosure

Forensic accountants play a vital role in various assignments, encompassing criminal and civil investigations.

Pros and Cons of Using a Forensic Accountant

Like any professional service, there are both pros and cons to using a forensic accountant:

Pros 

Facilitating financial crime investigations

Forensic accounting serves as a valuable tool in resolving financial crimes, encompassing bribery within government institutions, fraud, and money laundering within businesses. Its role extends beyond evidence gathering, as it aids in crime detection and identification.

Monitoring professional conduct

Forensic accounting allows for evaluating professionals’ performance, including accountants. Accountants can use the insights obtained through such assessments to pursue professional negligence claims against those found responsible for significant intentional or unintentional errors.

Improving financial oversight for businesses

Businesses can leverage forensic accounting to identify irregularities within their ranks and relationships with external entities. For instance, companies can use forensic accountants to scrutinise an employee’s purchase records, verifying if expenses were exclusively business-related or if any personal diversions occurred.

Cons

Complex and thorough investigation process

Forensic accounting demands meticulous scrutiny of every document to ensure a comprehensive investigation and the discovery of crucial evidence.

This extensive review can span from several days to weeks or even months, depending on the case’s complexity, the organisation’s size, and the volume of documents involved.

Potential financial burden

The time-consuming nature of forensic accounting can result in significant costs. While large corporations may have the resources to accommodate these expenses, smaller businesses with limited budgets may need help bearing the financial burden associated with forensic accounting services.

Disruption and distraction

The involvement of external accountants in forensic accounting processes can disrupt the routine of internal staff members. This disruption can negatively impact productivity and efficiency, as employees may find their attention diverted from regular tasks to accommodate the demands of the investigation.

Conclusion

The role of forensic accounting is vital in investigating financial crimes. Forensic accountants play a crucial role in uncovering and addressing financial misconduct with specialised expertise in detecting fraud, analysing financial records, and presenting findings in legal proceedings.

Aspiring professionals seeking to enhance their skills in this field can study ACCA online, offered by Imarticus Learning’s Association of Chartered Certified Accountants, UK program, to gain comprehensive knowledge and prepare for the ACCA exam online.

Visit Imarticus Learning to learn more.