PKF Francis Clark Mock Interview
Practice 28 PKF Francis Clark interview questions covering audit, advisory, and firm values.
Question 23 of 28
If a client you were working with here at PKF Francis Clark purchased a large asset, how would you explain to them the impact of that purchase on their financial statements?
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Ryan Brunner has over ten years of experience recruiting, interviewing, and hiring candidates in the healthcare, public service, and private manufacturing/distribution industries.
When an organization purchases a large scale asset, like new equipment or property, it has an impact on their financial statement. As part of your role working with clients of PKF Francis Clark, your job will be to explain the impact of that purchase on cash flow, income statement and the overall balance sheet. For this question, walk your interviewer through how you would educated clients on large asset purchases to show you have a solid understanding of their impact on the finances of the company.
Ryan Brunner has over ten years of experience recruiting, interviewing, and hiring candidates in the healthcare, public service, and private manufacturing/distribution industries.
"I have a great example of this just happening recently with my current organization that purchased a 1,250,000 piece of manufacturing equipment. With our leaders, I explained that since the equipment was purchased in cash without financing, it would directly impact our cash flow statement immediately. On the balance sheet, it ended up being a wash with the cash side going down by 1.25 million and the asset side going up by that same amount with new equipment. The biggest thing that I had to reiterate to leaders was the impact of depreciation on the overall income statement in the coming years."
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