1. Tell me what processes do you use to evaluate financial risk?
By asking this, the employer wants to ensure that you have the kind of in-depth expertise necessary to rationalise performance and mitigate risk. You should demonstrate your ability to find common themes and build them into actionable business targets within your answer, showcasing your use of a comprehensive process that covers all touch points.
This question is less about numbers and more about explanations, and you should spend time walking the interviewer through how you would ordinarily define objectives, identify risks and opportunities, define actions, allocate resources, address risks and monitor and report on activity. You should also use examples of how you have suggested best practice and advised next steps, as the employer will ultimately want to know that you have the aptitude to provide a strategic business partnership.
2. Explain me a typical payroll day from your past experiences?
Get all time sheets or computer records, compare to the office records, imput all the information to the payroll program, look and double check the information that has been given.
3. Explain me a difficult situation at work and how you diffused it?
One difficult situation that happen was managing conflict how that was dealth with is that the situation was presented before all the individuals and a resolution was brought in to play the handle the matter at hand.
4. Please explain how does higher management benefit from payroll reports?
It shows them where the company is financially, as well it shows them labor costs, and gives them the numbers to work with in analyzing company policies and procedures.
5. Explain me what are your future plans with the company?
I plan to be withe the company indefinitely. I plan to learn the job and become and exceptional ps so that I can successfully move up within the department.
6. Why are you interested in this position as Financial Specialist?
To work for a thriving and growing company, I am always learning new task, opportunity of advancement and company profile and word of mouth has been very impressive.
7. Explain me about the financial forecasting you have been responsible for?
In commercial finance jobs, you need to be able to demonstrate your ability to build and manage financial models from everything to business forecasting to variance analysis to problem solving. This question gives you the chance to spotlight your financial forecasting skills and should ideally focus on how your forecasting has supported internal departments. Show how you have monitored cost-centre expenditures against forecasts and budgets, and wherever possible, how you have reduced business risks. Without going into too much detail, you should use this question as a platform to cover how your knowledge of P&L, balance sheets and cash flow enables business success.
8. Tell me do you plan to open up your own accounting or payroll firm?
This interview question is simple to answer. I would obviously begin by picking out a work related problem I have faced and that I knew turned out to be a problem that I was able to solve.
9. Do you know what methods have you used for estimating bad debt?
Accounting interview questions such as these can open conversations about the way you have approached this routine process with previous employers. This line of inquiry allows recent grads to apply theoretical knowledge in venturing educated guesses. Your answer will reveal the level of understanding of the methods most commonly used and could open a dialogue about how you may handle this scenario.
10. Explain me a typical work week for financial specialist position?
Interviewers expect a candidate for employment to discuss what they do while they are working in detail. Before you answer, consider the position you are applying for and how your current or past positions relate to it. The more you can connect your past experience with the job opening, the more successful you will be at answering the questions. It should be obvious that it's not a good idea talk about non-work related activities that you do on company time, but, I've had applicants tell me how they are often late because they have to drive a child to school or like to take a long lunch break to work at the gym. Keep your answers focused on work and show the interviewer that you're organized ("The first thing I do on Monday morning is check my voicemail and email, then I prioritize my activities for the week.") and efficient.
11. Explain me what cost-cutting measure have you been in charge of implementing?
How we can reduce the cost of supplies, such as reducing the amount of paper we utilize. Finding solutions in reducing waste and finding different methods to help in saving the enviorment.
12. Tell us what is the largest payroll you have been in charge of?
The largest payroll I have been in charge of was a manual payroll project using excel and the firm consisted of six employees.
13. Do you know what is a general ledger?
An accounting record system where all the companies income and expenses and assets and liabilities are kept.
14. Explain me your experience with payroll?
I have done payroll for 3 different companies with different types of needs and different industries. This has help me to adapt quickly.
15. Explain me what experience do you have implementing a new payroll system?
Been involved with the upgrading of the payroll system. Have not changed from a payroll system in the last 20 years.
16. Tell us any payroll process that you have developed or revised?
No timesheets were in place. I got my wage clerk to develop a timesheet on excel and was implemented in the company and used successfully.
17. Tell me what are the payroll inputs?
Overtime. Shift allowances, commission, salary, medical aid, provident/pension fund etc.
18. Do you know what is retro pay?
Retroactive pay is a delayed wage payment for work already performed at a lower wage rate. It is distinguished from back pay.
19. Tell me have you had responsibility for state and federal tax payments?
Yes and it is very important that they are paid on time, otherwise fines are given to the company.
20. Tell us what have you done to improve your verbal communication skills?
I have taken communication courses and have a very long history of customer service skills.
21. Explain me what are two or three types of accounting or finance publications?
While still a fairly basic question, you may tailor your response according to the specifics of the role you're applying for or to the company's recognised approach. Or, as a skill test, you may be presented with a few publication samples and asked to explain them. The way you demonstrate your communication skills here will show your skill level in identifying mistakes or omissions.
22. Explain me a financial report you have analysed recently and the actions you took accordingly?
This question provides an opportunity to show the employer your ability to commercially evaluate data and translate your findings into deliverable solutions. The best possible answer showcases an example in which you have made a real business difference by identifying problems and making value-added recommendations to decision-makers.
With this type of question, you can afford to spend more time going into the details of your work. The employer wants to see your capability in understanding business operations and where money is made and lost, so use real figures and focus on how your financial expertise played a part in driving improved profitability and efficiency.
23. Tell me what are the most important attributes a person should have for this position?
The number one attribute for any position is confidentiality. Someone working with money should also be honest and trustworthy.
Input everybody else and email the payroll timekeeper for the reports, meanwhile I make aware to the supervisor of this employees of the situation so they can get help to finish the reports.
25. Tell me when you would want to pay an employee through accounts payable rather than payroll?
We never pay an employee through the payroll system, this creates a problem because there are tax implications and benefits that need to be included, before paying the take home salary .
Accounting professionals, particularly those who have managed ledgers or worked as full-charge accountants for more than a couple of years, should be able to speculate on this scenario. A candidate with more formal training specific to auditing or fraud analysis will likely explain this thoroughly and be able to provide examples.
This is a starting point to explore your knowledge of ledgers. Your response could lead to further discussion of your skills related to the opening you are trying to apply for. The interviewer will expect your responses to reveal the extent to which you have thought through how accounts relate to lines of business and generally accepted accounting principles.
This falls into the category of behavioral interview techniques, a tactic useful in gauging your ability to think through a scenario like one that might be faced in a more senior finance role. Your response will show you if your approach is in alignment with that of the existing team, which will also indicate if you're a good cultural fit for the company.
Making sure I enter correct information for each contract and submit before due date.
Havent done bookkeeping. Been responsible for reconciling payroll related accounts.
31. Explain what sorts of things have you done to become better qualified for your career?
My education has focused on not only learning the fundamentals, but also on the practical application of the information learned.
32. Explain me how do you keep your expertise on financial processes and techniques up to date?
In the fast paced world of corporate finance, employers want to be assured that their recruits are committed to keeping an up to the minute awareness of the market and its current trends. This question tests your attitude to your career and as such answers should focus on the desire to be at the forefront of financial developments. You should outline a genuine interest in the sector, discuss your current knowledge of opportunities and threats and relate this back to business needs. For example, a strong answer to this question would not only show passion but would also link to examples of where you have used your current market knowledge to suggest appropriate business actions and ensure that stakeholders understand potential risks and rewards.
If an error is found it will be deducted from the individual gross pay the month that the discovery takes place.
34. Group based Financial Specialist interview questions:
☛ What do you do when priorities change quickly?
☛ Do you find your job exciting or boring?
☛ How well did your college experience prepare you for this Financial Specialist job?
☛ How do you make your decisions in general?
☛ What is the toughest group that you have had to get cooperation from?
☛ What type of management style do you thrive under?
☛ Do you have the qualities and skills necessary to Financial Specialist?
35. Operational and Situational Financial Specialist Interview Questions:
☛ What data would you collect to conduct a benchmark analysis?
☛ The CEO informs you they plan to make an investment (e.g. open a new store in a foreign country.) How would you begin advising them?
☛ What factors would you take into consideration before advising a company to take (or not take) a loan?
☛ What would you do if you found a mistake in a report you prepared but your manager hadn't noticed?
☛ What metrics would you present to investors to describe the company's financial health?
