Controller Mock Interview
25 Questions Created By Brian Schuchart
To help you prepare for your Controller interview, here are 25 interview questions and answer examples.
1. Identify a time when you made a mistake and the actions you took to correct it.
How to Answer
Everyone makes mistakes, so don't be tempted to say you don't! This is a good opportunity to show that you don't let a bad situation become worse. It an opportunity to speak to your honor and integrity.
Written by Brian Schuchart on December 19th, 2020
Answer Example
"One time in my accounting manager role I noticed I had made an error in a calculation that impacted the monthly financial statements. The draft financials had already been distributed to the leadership team. I was embarrassed, but I knew the situation would be made worse if I waited or failed to say anything. I told the Controller what had happened, and we agreed that it was best if I made the correction and then redistribute the package. It ended up not being a huge deal, but it drove me to review my work even more thoroughly before distributing to others."
Written by Brian Schuchart on December 19th, 2020
2. How have you interacted with the tax department in your previous roles?
How to Answer
A key job duty of a Controller is to understand taxation and be able to effectively work with the tax department. Most tax departments report to the CFO and are responsible for the filing of tax returns, payment of taxes and the accounting entries related to income tax expense, taxes payable and deferred income tax.
Written by Brian Schuchart on December 19th, 2020
Answer Example
"The relationship between a controller and the tax department is vital. In past roles I was responsible for liaising with the tax group to understand changes in income tax expense and tax liability. I understand that a controller must understand the tax implications of various decisions and must stay up to date with the latest tax guidelines. I look forward to expanding my taxation knowledge even further as my career evolves."
Written by Brian Schuchart on December 19th, 2020
3. In your opinion, why is it important for organizations to have effective internal controls?
How to Answer
Internal controls are rules, regulations and safeguards that an organization puts in place to ensure integrity of financial information and to prevent fraud. There are several benefits to having robust and effective internal controls, including preventing fraud/theft, improving accuracy of financial reporting, and complying with laws and regulations.
Written by Brian Schuchart on December 19th, 2020
Answer Example
"Internal controls are vital for organizations of all sizes. First and foremost, internal controls are necessary to be in compliance with all relevant laws and regulations. Additionally, strong internal controls are necessary to prevent fraud and theft by employees. Finally, strong and effective internal controls result in improved timeliness and accuracy of financial reporting, which makes for smoother audits."
Written by Brian Schuchart on December 19th, 2020
4. How do you manage your manager? In other words, what steps do you take to make sure you get what you need from your boss and make both your lives easier?
How to Answer
Also known as 'managing up', 'managing your manager' is a soft skill that can be developed over time. It essentially means doing whatever is necessary to make your manager's job easier. Some clear-cut benefits of managing up include increased productivity and better working relationships between boss and employee.
Written by Brian Schuchart on December 19th, 2020
Answer Example
"I am a firm believer in the benefits of managing my manager. At the end of the day, I want to make his(her) life as smooth as possible. One area where I really focus on is communicating and prioritizing workload on a regular basis. This ensures that I'm always working on the highest-priority items. Another thing that is crucial is understanding my manager's style. For example, do they like regular check-ins by email throughout the day, scheduled catch-up meetings, etc. Then I tailor my communication to their style."
Written by Brian Schuchart on December 19th, 2020
5. Which financial statement do you feel is the most important and why?
How to Answer
Rather than give one answer, speak to the value of all three: the income statement, the balance sheet and the statement of cash flows. Each statement is vital in evaluating the financial health of an organization.
Written by Brian Schuchart on December 19th, 2020
Answer Example
"I can't choose just one because each statement has immense value. First, you need the income statement to assess the profitability of the organization and to compare performance to benchmarks such as last year and budget. The balance sheet is important as it is a snapshot of the organization's financial position. It can be used to calculate important ratios that assess the health of the organization's finances. And finally, cash is king, so the statement of cash flows is extremely important when evaluating liquidity."
Written by Brian Schuchart on December 19th, 2020
6. What are some methods you use to motivate your team?
How to Answer
The job of an accounting professional can be stressful. As a leader, you will be expected to not only manage your employees but also help motivate them to complete difficult assignments and 'stay sane' during the more hectic times.
Written by Brian Schuchart on December 19th, 2020
Answer Example
"First and foremost, I motivate my team by setting a good example. I show enthusiasm for new projects, find the best in all our partners in the organization, and try to keep things light. Second, I understand that not all team members are motivated by the same incentives. Some enjoy praise for their work, while others like to be rewarded with more responsibility. Getting to know my team members and what motivates them is key for any good leader. Third, I like to 'let loose' with my team during slower times. In the past, we have gone bowling, gone to a baseball game and had holiday parties."
Written by Brian Schuchart on December 19th, 2020
7. What is your approach to budgeting, forecasting and other forward-looking projections?
How to Answer
In addition to reporting on actual results, a controller will often also be responsible for budgeting, forecasting and other projections. Forward looking projections are part art and part science, so this question is being asked to learn about your thought process when there is some gray area.
Written by Brian Schuchart on December 19th, 2020
Answer Example
"As accounting manager, I was responsible for the annual budget for our division, as well as reforecasting results throughout the year. Senior leadership, including the CEO, CFO and Controller, should drive the budget process, landing on acceptable revenue and profit growth rates in line with long term goals and investor expectations. Then, the Finance team builds a detailed budget that meets those growth targets. From a granular perspective, my approach is to always use last year as a benchmark. If a line on the P&L is projected to be different, I need to make sure I have a good reason why."
Written by Brian Schuchart on December 19th, 2020
8. How do you mitigate and manage stress?
How to Answer
The Controller position is stressful as it is visible to leadership and is constrained by tight deadlines. The role is responsible not only for their team but also for coordinating the work of several other departments. Stress is inherent, and this question helps assess how you would manage the stress.
Written by Brian Schuchart on December 19th, 2020
Answer Example
"Due to tight deadlines and the demands of the controller role, stress is inevitable. However, there are steps I take to help mitigate stress. First, I try to spread out the work as much as possible. This includes completing the tasks I can before the crunch of monthly close begins. Also, spreading work amongst my team helps take things off of my plate so I can focus on higher priority items. When I do feel stressed, I like to exercise and cook to help alleviate the stress."
Written by Brian Schuchart on December 19th, 2020
9. Have you ever been involved in accounting software implementations?
How to Answer
It is common for companies to change or upgrade their accounting software every few years. A controller is heavily involved with all stages of the implementation. The implementation of these updates typically involves meetings with all stakeholders and user acceptance testing (UAT) to ensure proper implementation.
Written by Brian Schuchart on December 19th, 2020
Answer Example
"Yes, at my current company we implemented new software two years ago. I was heavily involved with the process. First, we met with the IT consultants who were managing the implementation. In these meetings we discussed how we currently used our current software and what enhancements we would like to implement. Then, as the modules were built out I participated in user acceptance testing to make sure the modules were working properly. Finally, when modules were finalized I trained others on my team."
Written by Brian Schuchart on December 19th, 2020
10. How do you keep up with the latest developments in accounting principles?
How to Answer
This question is to see if you take the initiative to stay current on the latest accounting developments. If you are a CPA, talk about how you use mandatory continuing education requirements to stay up to date on the latest trends and regulations. Also, discussions with auditors is another great way to keep current on relevant developments.
Written by Brian Schuchart on December 19th, 2020
Answer Example
"I stay up to date in various ways. First, as a CPA I am required to obtain 80 hours of continuing education every two years. I use this to my advantage by taking courses that are most relevant to my organization's industry. Secondly, I collaborate with our auditors who are experts on the accounting code. Confirming with them that I am correctly implementing certain complex accounting treatments is good practice. Lastly, I like to absorb information in other ways such as reading newsletters and participating in industry groups."
Written by Brian Schuchart on December 19th, 2020
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