Tara Hagan, Audit Manager
Absolutely. You will learn the income statement and balance sheet right off the bat when you’re an accountant, but more than that, you will learn how to interpret them and infer from the financial statements how a company is performing. You will also learn nuances, such as how financial statements vary from industry to industry. For example, you can an airline company’s financials will look different from a casinos financials or a football teams financials or a financial company’s financials. As a CPA, you learn all the rules and regulations for the various industries.
Oftentimes, as a CPA, you find yourself spending more time on other financial reports and legal documents, not just an income statement and balance sheet – the footnotes to the financials, various SEC filings, legal contracts, lease agreements, debt agreements, the list goes on.