Financial Planner Interview Preparation Guide

Answer that by staying organised and keeping a strict diary you find that stress does not become a real issue. As soon as you identify a possible delay due to high work volumes you raise this with your manager to see if the work can either be reallocated or given priority.

Say that you deal with authority as you deal with customers - with integrity, professionalism and politeness.

Not all administrators need to be excellent problem solvers so if you are not the best, be honest and say so. You could say that you are not good at solving problems but you understand the skills of your colleagues well and will always be able to persuade somebody to assist.

“The why is typically much more important than the whom, So identify someone who has qualities you admire or has done something you aspire to do, and clearly articulate the specific reasons you admire that person. Avoid someone who could be controversial, if at all possible.”

With more businesses focusing on culture and fit, this question allows interviewers to see if your values mesh with the company’s.

By definition, working capital is current assets minus current liabilities. The working capital figure shows a financial manager how much of an organization's cash is tied up in items such as accounts receivables and inventory. It also indicates how much cash is going to be required to pay off short term debt and obligations over the next year.

A deferred tax liability is just the opposite of a deferred tax asset. The deferred tax liability occurs when a tax expense reported on the income statement is not paid to the IRS during the same period it is recognized--it's paid at a future date. Deferred tax liabilities can result when there are differences in depreciation expense between book reporting (GAAP) and IRS reporting which lead to differences income as reflected on a companies income statement versus what's reported to the IRS--and which results in lower taxes payable to the IRS (in the short run).

A multi-part question such as this will reveal how your prospective finance manager navigates challenging waters. Do they rise to the occasion, communicate clearly and foster win-win partnerships, or are they more likely to say nothing and carry-on. Ultimately, a finance manager is a liaison to several different departments, supporting them to achieve their strategic objectives, while managing their own team. You need a strong problem solver and communicator in this role.

Net income has to be adjusted to reflect an increase in accounts receivable since the company never actually received the funds. As the cash flow statement begins with net income, it shows a cash reduction what accounts received increases.

At the time of the purchase, there is a cash outflow (cash flow statement) and PP&E goes up (balance sheet). Over the life of the asset it is depreciated. This shows up a reduction in net income (income statement) and PP&E (balance sheet) decreases by the amount depreciated. At the same time retained earnings (balance sheet) also goes down. However, the depreciation is added back in the cash from operations section (cash flow statement) as it is a non-camsh expense the reduced net income.

Unlike general expenses that provide benefit over a short period time (i.e., employee's work, taxes, etc.), capital expenditures provide benefit over a longer period of time. Due to the duration of their estimated benefit--usually several years--capital expenditures are capitalized on the balance sheet, where shorter term expenditures are expensed on the income statement. This is the difference between an asset and an expense.