Finance Manager Interview Questions and Answers #Finance

hi this is ryan brown for mockquestions.com in today’s CashNews.co we will be discussing five Finance manager interview questions but before we do that just a

quick disclaimer these questions are not guaranteed to be asked at your interview i pulled all of today’s questions and answers from our website mockquestions.com now let’s get started question number one describe how previous experience has prepared you for the

href="https://cashnews.co/finance" style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance manager role use this opportunity to expand on your experience as it specifically relates to the #1a73e8; text-decoration: none;">Finance manager role some key areas to highlight may include performing nuts and bolts Accounting functions in early roles such as journal entries and Balance Sheet reconciliation other areas you can highlight may be

managing staff and involvement in the Budgeting and Forecasting process i believe my past experience in previous roles has prepared me well for the none;">Finance manager position i have a strong foundation in financial Accounting having started my career as a staff accountant where i was heavily involved in the monthly close process next i moved over to the Financial Planning and analysis side of

Finance where i learned how to budget and forecast i was then promoted to a manager role where i developed soft skills that helped me become a better leader question number

two how would your management style change if your employees and team members worked remotely full-time or part-time many professionals are working remotely in the wake of the 2020 pandemic even as things return to normal a partial or full remote work environment may be common in the future speak

to changes to your management style that you have implemented in previous roles the 2020 pandemic has allowed me to revisit how i manage my team and adjust in a few areas for example i realize that i must be more flexible as each team member has unique family and other demands that impact their

work life balance this forced me to adjust deadlines to focus on higher priority deliverables additionally i can no longer drop by my team member’s desk to catch up so i started scheduling weekly check-ins question number three have you ever had to explain complex Accounting

concepts to non-Finance leaders how did you go about the task this is a question to gain insight into your communication skills

style="font-weight: bold; color: #1a73e8; text-decoration: none;">Finance managers and other financial leaders will often need to present to other leaders and colleagues who may not have strong financial backgrounds give a specific example of a time when you were able to communicate

with other non-Finance functions when i was a none;">Finance manager at abc retailers we noticed that bad Debt expenses was higher than normal after analyzing the situation we determined that our sales teams would need to change their product selection in order to return bad Debt expense to an

acceptable level in order to do this effectively i first needed to explain what we were seeing on the financial reporting side and the impact to the Financial Statements i created a deck that laid out some concepts like accrual Accounting and the components of how

bad Debt expense was measured these were concepts i knew the audience would not be familiar with then i also gave examples of what steps could be taken from the sales side and the impact it would have financially this process helped the sales team understand the importance of

getting bad Debt under control question number four what are some benchmarks that you compare actual results to when completing monthly analysis when analyzing actual results a none;">Finance manager should compare to benchmarks most commonly comparisons will be to last year actuals budget and prior forecast actual versus forecast should theoretically have the lowest variances as it was built off the most recent information actuals versus last year may have

some noise variances from big items that occurred last year but not in current year or vice versa the current year budget may or may not have accounted for this noise there are three benchmarks that i typically use to analyze actual results the first benchmark is first last year actuals versus last

year will help explain growth and decline in various accounts versus the previous year many external parties such as investors are interested in performance versus last year the second benchmark is verse budget at the beginning of the year we built the annual budget which essentially lays out

targets for the year each month we want to analyze how we are doing verse budget so that business practices can be adjusted in order to realize for full year budget targets the third benchmark is verse prior forecast each month we prepared a forecast for the remainder of the year and we use this

benchmark to analyze how close actuals came to our expectations question number five what skills or qualities do you believe a good Finance manager should possess highlight

that a Finance manager should have good technical skills in other words they have the knowledge to do the job also they should have an analytical mind they should be curious

and inquisitive and will be thorough when it comes to reviewing statements and catching errors i believe a good Finance manager should first have the technical skills

required to do the job they should have a thorough understanding of Accounting the Budgeting process and other relevant knowledge areas secondly the person should be analytical and persistent in their pursuit of an answer this is extremely helpful when

investigating variances finally i believe that a good Finance manager should be able to limit errors and mistakes by being detail-oriented and meticulous when it comes to

reviewing work if you want more Finance manager interview questions then head over to mockquestions.com and get started