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Accounting versus Finance
1) From your perspective what are the differences between accounting and finance (departments and focuses of study)? There are many differences between the two from academic and professional perspectives. Also, what are some similarities and how do they work together? Please feel free to use personal experiences as examples.
2) Corporate life, entrepreneurship, and working at small and mid-size firms/businesses all pose their own unique challenges. These events are what help shape us into polished and experienced professionals over time.
State a time when you experienced hardship in your professional life (ex: wasn’t sure how to complete an assigned task, didn’t get along with a co-worker, disappointed by a performance evaluation, etc.) and how you overcame it. What are some of the key take-aways from your experience?
3) COVID-19 has affected every one of us in some way personally and professionally. How have the businesses you work for been affected? Have they made the adjustments smoothly or have there been costly challenges along the way (do not feel like you need to include the name of the Company you are employed by). Be specific and list the positives and negatives of the changes that have been implemented.
If you aren’t currently employed how do you imagine a business in a specific industry of your choice (ex: retail, food/beverage, technology) are coping with the pandemic and making adjustments to business processes accordingly? Name a company that you think has done exceptionally well.
4) What are the two methods of presenting the Statement of Cash Flows (SOCF)? Why do companies generally choose one over the other? What is the significance of the SOCF? Name the three sections of the SOCF.
If you work for a public company pull the most recent 10-K and state which method was used for reporting the SOCF. If you do not work for a public company, choose one and state which method was used.