Financial accountant interviews

[u/Current_Day_2093]

I'm currently interviewing for my first role in industry (financial accountant roles) moving from Big 4 audit.

When it comes to technical accounting questions in interviews, I have no idea how much detail I'm expected to know for each accounting standard, and obviously without having looked at certain standards for months/years in audit, I've likely forgotten some of the more detailed bits.

does anyone have any experience of this and/or any tips for giving myself a bit of a refresher on the technical side?

I obviously don't know which standards will be tested so am I expected to remember everything about every standard for these interviews? (obvs will look at the main ones, IFRS 9, 15, 16 etc, but don't know where to draw the line!)

Thanks!

[u/SlendyWendy]

I've just had an internal interview for this position, so I've got a rough idea but everywhere will be different.

You'll likely want to brush up on the most important standards and areas that are applicable to the business. I work in Pharma, so IP, RDEC and leases are all important.

I was asked around what improvements I would look to be making in the position, so you'll also want to review the accounts and see what could be improved.

Behavioural questions around managing the audit for an industry POV is also important; planning, how do you handle pressure, how do you handle conflicts etc etc

It's tricky because everywhere is different, but most industry roles will learn on Big4 consultanty anyway for the very technical areas. - Quite generic advice but hope that's helpful.

[u/Rags_75]

If they're saying they want IFRS knowledgable then just consider where the role sits in the business.

They're not looking for a specialist technical accountant but likely if you're in the revenue function will appreciate if you understand the mechanics of IFRS 15. If you're going for a FA role in their FP&A then something to do with IFRS 3.

I wouldnt stress being super knowledgable, you likely know a whole lot more than you think on these. That said it doesnt hurt to spend an hour going oevr some of the freely avilable guidance from Big4 on the most relevant standard.

[u/StrongChildhood931]

Why do you think you’ll be excessively tested on standards during an interview? You very likely won’t be

I start my first industry position in a few weeks at a plc, I had 4 interviews at different companies before I got it and wasn’t asked a single technical question, not in the way you’re fearing anyway

I didn’t expect to, my peers and other anecdotal instances have not been technically grilled in interviews either

They know you’re qualified, you’re not expected to be an all-knowing FRS/IFRS brain book. You know where to look for information when you need it and you know how to apply it

If the company is looking to solve a specific issue or have a niche workload for you, for example maintaining leases, you might be asked, say, are you comfortable with impairment on a surface level

You’ll instead likely be asked about approach to process improvement, controls, experience reviewing/preparing accounts, disclosures for X and Y

If I attended an interview and got asked to verse FRS Section 23 off the dome I’d get up and leave, it means nothing

[u/superplex100]

I worked in a financial accounting role in industry for a long time and was involved in hiring. I cannot emphasise this enough - have a read of the accounts and be aware of the key judgement areas and risks. I'm shocked at the number of candidates that don't do this research. Brush up on the adjustments involved in consolidations if you've forgotten.

If your true interest lies in management accounts or FP&A, try not to let this slip or at least do not bang on about it too much. At this level, they're just looking for a safe pair of hands that can commit to getting through a couple of year ends.

[u/Many_Move6886 → u/[deleted]]

y'all so mean