- Walk me through a typical income statement, balance sheet or cash flow statement. Discuss the inter-relationships between the income statement, balance sheet and cash flow statement.
- What is EBITDA? Why is it important?
- What is goodwill? How does it affect net income?
- What is the difference between cash and accrual accounting?
- If Accounts Receivable increases during the period, how does that impact cash?
- What is a 10K? What is a 10Q?
- What are deferred taxes? How do they arise?
- If I under-depreciated by $3,000, walk me through how that would affect the financial statements.
- Which of the three financial reporting statements (balance sheet, income statement, statement of cash flows) is most important and why do you believe this is so?
- Assume that you have a significant amount of inventory on hand. What control measures could you put in place to ensure employees aren’t running off with your inventory?
- How would you go about forecasting balance sheet accounts in the future—specifically inventory, accounts receivable, and accounts payable?
Food For Though
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