Entry Level Accountant Mock Interview

Practice 25 Entry Level Accountant interview questions covering journal entries, reconciliations, and financial reporting fundamentals.

Question 12 of 25

What are the three financial statements and what do they indicate about a companyâ€™s finances?

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Brian Schuchart

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

The three main financial statements are the income statement, balance sheet and statement of cash flows. A new accountant should know the statements in detail as they will be expected to have learned them in their college coursework.

Brian Schuchart

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

"The income statement shows profitability over a period of time by showing revenue less expenses. The balance sheet summarizes a company's assets, liabilities, and equity at a point in time. And a cash flow statement shows the net cash inflows and outflows over a period of time. Each statement is essential in order to gain insights into the financial health of an organization."

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