Among the many accounting interview questions you could be asked, this one is fairly straight-forward. Candidates with some accounting training or experience should have no trouble answering it. As with question one, how you reply may show whether you're under- or overqualified for a junior-level position.
2. Tell us what is your experience with developing business metrics?
Though somewhat general, these sort of accounting interview questions can elicit answers that are useful in evaluating entry-level business or financial analyst candidates all the way up to mid-career professionals who aspire to roles that come with budget and staff oversight responsibilities.
3. Tell me if an employee called in with a payroll complaint, how would you handle it?
I would pull up their file first and confirm the employee identity and ask them the specific complaint, then I would ask for some time to look into the problem and get back to them as soon as possible to resolve the issue.
4. What salary are you seeking as Financial Specialist?
A competitive salary range for someone with my background and experience.
5. Tell me how would you familiarize yourself with our payroll system?
I would refer to and study payroll manuals and job manuals as well as seek out information from other specialists/supervisors.
6. Do you know the use of forms W2, W4, and 941?
W2 is a summary record given to employee showing their earnings taxes paid and any other deductions, W4 is what the employee fills out letting the payroll department know how many depending they are claiming, 941 is the report filled out each quarter and year end showing everything paid and deducted through payroll.
7. Tell me what information do you require before you approve payroll?
Verification that the funds are in place and approval from the authorizing manager for process the payroll.
8. Tell me how much money have you saved businesses and how and where did you do this?
Your answer to this question should involve little else than cold hard facts and figures: less is more when it comes to financial jargon here. The interviewer wants to know how you have put your skills into practice to power profitability, and only accurate numbers and time frames will impress.
9. Do you know what is the difference between accounts receivable (AR) and accounts payable (AP)?
This is one of many elementary interview questions for accountants that you may be asked to explore your general accounting knowledge. While it's quite simple to respond with the basic definition that accounts receivable are assets and accounts payable are liabilities, take this question as an opportunity to demonstrate your actual previous work experience with these tasks.
10. Tell me what challenges have you faced in leading a team through an analysis project?
This interview question is designed for probing leadership skills. It is another interview question that an interviewer can modify to better explore the particularities of your interest in the position, or your background. As with question nine, your reply will reveal the level of critical thinking skills and elicit a better picture of your leadership skills.
11. Tell me examples of the payroll reports you have prepared?
I have prepared Time Labour Entry Audit reports that reflect Job codes, wages, Gl accounts, time repoting codes, rates.
12. Tell me what challenges are you looking for in this financial specialist position?
A typical interview question to determine what you're looking for your in next job, and whether you would be a good fit for the position being hired for, is "What challenges are you looking for in position?" The best way to answer questions about the challenges you are seeking is to discuss how you would like to be able to effectively utilize your skills and experience if you were hired for the job. You can also mention that you are motivated by challenges, have the ability to effectively meet challenges, and have the flexibility and skills necessary to handle a challenging job. You can continue by describing specific examples of challenges you have met and goals you have achieved in the past.
13. Tell me what is a fiscal year?
Year a year as reckoned turning profit for year end.
14. Explain me about the payroll forecasting you have been responsible for?
I was responsible for forecast according to the number of employees and the amount of hours how much we will need to cover for payroll.
15. Tell me how did you get started in payroll?
I first got started with taking payments when I was in the insurance business. I would also make daily deposits for Nationwide. I then went on to the Head Start program and started doing their payroll in 2008.
16. Tell me what courses did you like the best in your preparation in accounting and payroll?
I really enjoyed the Payroll Compliance Course. I found it interesting to learn about all the provinces and how each province deals with taxes.
17. Tell me examples of internal control procedures that you have developed and deployed?
Here, employers want to see if you can safeguard their assets and improve compliance. Before making a hiring choice, the employer needs to be certain that your financial skills are capable of delivering operational effectiveness and boosting the reliability of reporting.
Your answer should place a firm stress on quality and accuracy, demonstrating your professional integrity and dedication to supplying tight financial and budgetary information. Be sure that you show a thorough understanding of how to use resources in the most effective way, as well as giving examples of how you have ensured that expenditure planning and reporting is fully integrated with income and activity.
18. Tell us which enterprise resource planning (ERP) systems have you used?
Most professionals, especially those with experience working for medium to large organisations, should have an answer for this. A response might include any of the following: Hyperion, Microsoft Dynamics GP or Oracle Enterprise Manager. For entry-level candidates, you might turn this into a discussion of finance certifications and future training possibilities. Discussion of these tools, how you learned them and what applications you have used will reveal how much, if any, staff training you might need if hired.
19. Tell me how do you keep updated on all the payroll rules and techniques?
I am required by the CPA to keep my education up to date and in order to keep my PCP certification current and valid. The CPA offers webinars and seminars that I am able to attend.
20. Explain me your familiarity with the administration of 403b or 457 plans?
A 403(b) plan is a U.S. Tax-advantaged retirement savings plan available for public education organizations, some non-profit employers (only Internal Revenue Code 501(c)(3) organizations), cooperative hospital service organizations, and self-employed ministers in the United States.The 457 plan is a type of non-qualified tax advantaged deferred-compensation retirement plan that is available for governmental and certain non-governmental employers in the United States. The employer provides the plan and the employee defers compensation into it on a pre-tax basis. For the most part the plan operates similarly to a 401(k) or 403(b) plan most people are familiar with in the US
21. Top Financial Specialist Job Interview Questions:
☛ Describe to me any payroll process that you have developed or revised?
☛ If an employee called in with a payroll complaint, how would you handle it?
☛ What have you done to improve your verbal communication skills?
☛ What is the largest payroll you have been in charge of?
☛ Give me examples of the payroll reports you have prepared.
☛ How do you keep updated on all the payroll rules and techniques?
☛ How does higher management benefit from payroll reports?
☛ Why are you interested in this position?
☛ We have 9 major union contracts, each with unique special pay items. How will you ensure that everything is paid correctly and on time?
☛ What is a fiscal year?
☛ What salary are you seeking?
☛ Can you explain when you would want to pay an employee through accounts payable rather than payroll?
☛ Have you had responsibility for state and federal tax payments?
☛ What are the payroll inputs?
☛ What is a general ledger?
☛ If you have done bookkeeping in the past for small businesses, tell me about your experience doing that.
☛ What experience do you have implementing a new payroll system?
☛ Describe to me your familiarity with the administration of 403b or 457 plans?
☛ How would you familiarize yourself with our payroll system?
☛ Tell me about the payroll forecasting you have been responsible for.
☛ Describe a typical payroll day from your past experiences.
☛ Do you plan to open up your own accounting or payroll firm?
☛ Define a bad employee.
☛ Each of our buildings has a designated payroll timekeeper that reports biweekly. Two reports are late. How do you approach this?
☛ Discuss your experience with payroll.
☛ There are times when we are placed under extreme pressure on the job. Tell about a time when you were under such pressure and how you handled it.
☛ What cost-cutting measure have you been in charge of implementing?
☛ Can you describe the use of forms W2, W4, and 941?
☛ What are the most important attributes a person should have for this position?
☛ What sorts of things have you done to become better qualified for your career?
☛ How did you get started in payroll?
☛ What is retro pay?
☛ What are the most important attributes a person should have for this position?
☛ What are your future plans with the company?
☛ Describe to me a difficult situation at work and how you diffused it.
☛ What information do you require before you approve payroll?
☛ We spend considerable time editing our time sheets to ensure no errors. How do you approach finding an error?
☛ What courses did you like the best in your preparation in accounting and payroll?
☛ Why are you interested in this position?
22. General Financial Specialist interview questions:
☛ How have you successfully worked with this difficult type of person?
☛ What qualities do you find important in a co-worker?
☛ What were your expectations for the job and to what extent were they met?
☛ How do you define teamwork?
☛ What gets you out of bed in the morning?
☛ What two or three things are most important to you in your job?
☛ If we hire you for this job, what would we need to do to bring you up to speed?
23. Difficult Financial Specialist interview questions:
☛ Have you been absent from work more than a few days in any previous position?
☛ What is the worst thing that ever happened to you?
☛ Give an example of a time you misjudged someone.
☛ What two or three things are most important to you in a job?
☛ Would you like to have your boss' job?
☛ What do you think is most important when dealing with your customer?
☛ Is detail important to you? Do you think details should be left to your assistant?
24. Behavioral Financial Specialist Interview Questions:
☛ Describe a time when you coordinated a challenging financial task, e.g. audits or tax collections.
☛ Give an example of a time when your attention to detail saved you from a making a mistake at work.
☛ How do you learn about global economic issues? What are the biggest challenges that companies of our industry will face in the next years?
☛ How would you describe your leadership style? How do you delegate tasks to your team members?
25. Phone based Financial Specialist interview questions:
☛ What do (did) you not like?
☛ What days and hours are you available to work? Please be as specific as possible.
☛ What qualities do you like in a supervisor?
☛ When would you be available to start?
☛ Why haven't you obtained or accepted a job so far?
☛ Will you relocate? Does relocation bother you?
☛ What were the development steps on your last performance appraisal?
