I am going through this now. Tomorrow I have en interview for a controller job. I am nervious because its a 40 million a year manufacturer and my previous experience has been withe companies under 10 million. I want to look at his "Night before the interview" guide but I don't have the money to pay for his course yet! wish me luck!
Great videos, super informative! Thank you for sharing some of the tips and tricks for job interviews. But on a personal level, I have to admit I don't understand why interviewers want to "test" their accounting applicants, especially if they feel they are a fit for the job based on their application and resume. I don't see the value in putting applicants on the spot or making them feel incompetent for not remembering/knowing an answer under pressure...when they could google it on the job in a few minutes. Either way, you can train any skill, brush up on stuff you haven't done since university or two jobs ago, attend a course (or watch an awesome Financial Controller video!), but it's really difficult to train attitude and compatibility with a team. Anyway, thank you for sharing these questions and answers. Better to be prepared than to be caught off guard.
started watching your videos from last two days and got 2 question common in my interview today from your interview tricks lecture . very effective to learn and visualize accounting terms. Keep going mate.
Same here. This would've helped tremendously when I was in school. Majority of my accounting professors put us in groups of 4 and made us present the chapters. It was hard to learn from teachers that barely taught.
Thank you for the video. Even after being a non-finance person, I have learnt so much from your videos. @11:18 you gave an example of restaurant business. In a restaurant business they get paid on the spot. They pay their vendors on credit which increases their Accounts payable. But isn't cash a current asset? So, how can it be said with certainty that for a restaurant, which pays on credit, will have negative working capital?
Thank you so much for sharing. Thank you for teaching me while I wouldn’t able to sleep the night before my interview. Will have the most important and difficult interview for director of accounting tomorrow morning. Hopefully they will ask me those questions. Thanks again!!
Love the video. But with the last question, if the company in question doesn't sell TV in its normal operations that's TV is not its inventory, then profit on the sale of the TV will actually be a line item in the statement
Exactly the last question came in my interview today. I got panic and confused because they gave me only 2 minutes to answer and there were 5 MCQ. Wish I have watched this video before 😭
Thank you for you deep-dive videos. I took your Controller’s Academy course and I highly recommend this course for those who wish to fill in the subject matter gaps of your accounting career.
hey, i just found your channel and have already spent hrs on watching. I got a second interview as an assistant accountant tomorrow even tho its an internship, with an accounting manager, could you list down a few tips? I'd appreciate your response. PS keep the great work its amazing to find accounting enthusiasts like you
Hey IGadgetX. Thanks! Just slow down and be your "professional self". Visualize someone you regard as professional and behave similar to them. When asked a question, don't rush to answer it. Pause. This shows maturity. Technical stuff can be learned on the job, but in the end, it comes down to "Does this manager like working with you?". So be likeable. Likeability is about listening to the other person carefully and have smart comments. Don't stress to much. Think "What's the worst that can happen", you are not dead if you don't get the job. So just take it easy.
@@TheFinancialController this seems like just the advise I was looking for man! cheers to you and I hope to update you with my success with the interview later.
Hello! I interviewed many times with accounting firms and got an offer from a Big 4 firm. Most of the questions were the same such as: tell me about a time you showed leadership, teamwork, made a mistake, etc. There’s a big difference between bragging and simply stating facts. One way to avoid bragging is to quantify your achievements. Ex. “I implemented method X and our work output increased by 25%”. The most important question is: Tell me about yourself. This can turn the interview into more of a conversation and that is the goal. Be relatable and friendly. They’re thinking, “can I spend 60+ hours around this person?” Good luck! :)
Thank you so much for sharing your experience .. Appreciate it. Can you explain this sentence, please? "due to the amortization of initial costs, the risks of negative working capital are mitigated" And need to know more about "Amortization". Your quick reply will be highly appreciated, as I have an interview this week :) Regards, Maged
on question #2.. when working capital is negative in your example where you're collecting cash up front as a restaurant and delaying your AP... wouldn't that increase working capital equally as the cash increases CA whereas the delayed Payables increase AP? With the cogs being lower than sales usually, wouldn't working capital actually be increasing in that example as opposed to decreasing as you had suggested? thanks for the clarification in advance, Bill. =)
Very thorough discussion. Appreciate the details explained. I have locked-in a promising accounting internship, but your advice on this information (imo), cannot be overemphasized, especially for an upcoming entry level accountant like myself. As a kind suggestion, maybe eliminate the background music while you're speaking, it can be distracting. Thank you.
In the example for working capital, you mention restaurants collects cash & delay payments to suppliers. So, Accounts Receivable doesn't exist & Accounts Payable goes up. However, restaurant is collecting cash which is also a current asset...? where that cash goes...?
If a restaurant only has cash sales, sure it won't have A/R, but it will have cash. Which is part of current assets. Just because it's cash sales shouldn't really affect working capital or current ratio, it's just a different line item in current assets. What makes it OK to have negative working capital then?
Hi, You have such an amazing and informative content. It has helped a lot to revise my knowledge. Could you please do a video on fixed assets. Thanks a lot!!!!!!!!!!!!!!
I think accrued expense impact the cash flow statement and doesn't show up in income statement? why you said the opposite because accrued expense show up in the balance sheet
I’m a female FL CPA of 10 ys w/Audit & various industry experience starting a Controller position tomorrow of a Restaurant/Bar group (6 successful rest/bars under an umbrella holding co). I’ll report to CEO & have an experienced, eager to learn bookkeeper. Any specific recommendations of ways to get off on the right foot & right balance of personable & respect with coworkers? Also, will you share some drilled down guidance on best practices for daily workflows and/or some do’s & dont’s to ensure efficient/accurate work product while also earning/keeping coworker/superior’s respect & value as an asset to the team? I know it’s hard to regain initial respect/perceived value, critical to start off & maintain it, sometimes due only to the difficulty non accountants have understanding what we do & how long various tasks take…any/all input is so appreciated. Thank you for what you do- you’re filling a hole that existed for too long by providing such practical, specific, nitty gritty content. Keep it up!! Bravo!
Hi Sir, I have been asking a question, that what are the outstanding debits in Bank Statements, list some of them ,and why so important to a Finance Manager or CFO's ? Please clarify, thanks.
I've been invited for an interview with acc manager, vice president and department peers all the same day. What does it mean? Why do they want me to meet all the same day?
A little late, but doable. I recently watched the movie Pursuit of Happiness. I like when he said “don’t you ever let someone say you can’t do something”
The fifth question is kind of unclear as to whether a company is selling on account or cash. Also, we dont know if the company is using a perpetual or periodic inventory system. The latter question might be obvious, but I think is better to ask to show that you're aware of the difference in the journal entries.
I thought that too, but he said the cost is $800, it can be assumed he means the historical cost of that particular TV he's selling. He already did the FIFO/AVCO for you in saying "cost is $800"
These are not trick questions. A trick question is one that sets out to mislead such as "if a plane crashes exactly on the US/Canada border, in which country would they bury the survivors?".
Level up your Accounting Career by enrolling in our 6-weeks program here controller-academy.com/courses/controller-academy
I have my interview tomorrow for an Accounting Apprentice. I am nervous and excited that I can’t sleep. Reviewing your videos gave me more confidence.
I got the job and thank you so much....
@@laurareyes1062 Hows it going ?
Wow congratulations…
@@peupeuguy310fired for manslaughter
I am going through this now. Tomorrow I have en interview for a controller job. I am nervious because its a 40 million a year manufacturer and my previous experience has been withe companies under 10 million. I want to look at his "Night before the interview" guide but I don't have the money to pay for his course yet! wish me luck!
I have an interview two days from now and I've been watching your videos
Landed a job as a staff accountant, thank you so much for your videos!
Nice job!
Great videos, super informative! Thank you for sharing some of the tips and tricks for job interviews.
But on a personal level, I have to admit I don't understand why interviewers want to "test" their accounting applicants, especially if they feel they are a fit for the job based on their application and resume. I don't see the value in putting applicants on the spot or making them feel incompetent for not remembering/knowing an answer under pressure...when they could google it on the job in a few minutes. Either way, you can train any skill, brush up on stuff you haven't done since university or two jobs ago, attend a course (or watch an awesome Financial Controller video!), but it's really difficult to train attitude and compatibility with a team. Anyway, thank you for sharing these questions and answers. Better to be prepared than to be caught off guard.
Am extremely fascinated and excited that I landed to your channel. Many thanks Hanna for the great and insightful support.
Thank you Charles
Freshman accounting student here, love learning from someone who has credibility in the business. Subscribed!
Welcome Rob!
Nice! Hi Robert, I am a accounting student as well, good luck to you in school.
started watching your videos from last two days and got 2 question common in my interview today from your interview tricks lecture . very effective to learn and visualize accounting terms. Keep going mate.
Thanks and best of luck man!
you're amazing!
Please keep going, even if in general common information any accountant should know.
because you're one of the best in explaining
Thank you, will do!
@Valentino Lucas u.c
Thumb up
Wish I came across you while I was in school, but thanks so much for your content!!!
Thanks Katherine!
Same here. This would've helped tremendously when I was in school. Majority of my accounting professors put us in groups of 4 and made us present the chapters. It was hard to learn from teachers that barely taught.
Thank you for the video. Even after being a non-finance person, I have learnt so much from your videos.
@11:18 you gave an example of restaurant business. In a restaurant business they get paid on the spot. They pay their vendors on credit which increases their Accounts payable. But isn't cash a current asset? So, how can it be said with certainty that for a restaurant, which pays on credit, will have negative working capital?
I like the content of this video. I am a current student looking for internship and this video is super helpful.
Good luck thao
The presentation is very easy to pick and understand the knowledge on preparing financial statements.
MORE SUCH QUESTIONS PLEASE!!!!
THESE WERE REALLY HELPFUL
Great videos, both informative and inspiring! Would love to see you keeping it on.
Thanks for your video, it encourages aspiring accountants to take the first step toward their dreams.
I have my final interview tomorrow for a branch accountant I'm nervous thank you for your videos it gives me hope to pass
Thank you for your videos I got branch accountant position 😇♥️
Thank you so much for sharing. Thank you for teaching me while I wouldn’t able to sleep the night before my interview. Will have the most important and difficult interview for director of accounting tomorrow morning. Hopefully they will ask me those questions. Thanks again!!
Best of luck!
I just want say thank you for the 5 tips for an interviewing - i was able to go to the next level and meet the controler i added the 4 extra thank you
Thank you! Although I already know, now I know how to explain without being boring. Your are a mentor I wish I have
Great information. I get closer to my dream job as I watch your videos. I wish I could give 5 star Thumbs up.
Hi Teacher Bill, I am from Uganda pursing BBAF, I enjoy your teaching. Keep it up
ill be having my accounting interview tomorrow with Toyota Philippines,wish me luck bill..thank you very much for this vid..its a great help,REALLY!!
Good luck!!
Hi Teacher Bill, your teaching style is amazing and I feel like to go back and study again .
Love the video.
But with the last question, if the company in question doesn't sell TV in its normal operations that's TV is not its inventory, then profit on the sale of the TV will actually be a line item in the statement
Keep making these type of videos! Very helpful
Will do for sure. Thanks for watching sir! ;)
Great tutorial. This video helped a lot. Please make more videos
Thanks zhang, will make more!
Some of this was a great review of stuff I hadn’t had to think about in a while. Thanks!
Exactly the last question came in my interview today. I got panic and confused because they gave me only 2 minutes to answer and there were 5 MCQ. Wish I have watched this video before 😭
What accounting role was it?
The Financial Controller. I am grateful thanks so much
Thanks Sammi!
Thank you for you deep-dive videos. I took your Controller’s Academy course and I highly recommend this course for those who wish to fill in the subject matter gaps of your accounting career.
Awesome, thank you!
Hey buddy
I been watching your videos and you explain way better than my professors lol
Thank you 😊
Thanks!!
Just found your channel! Thanks, Bill this is great content!
hey, i just found your channel and have already spent hrs on watching. I got a second interview as an assistant accountant tomorrow even tho its an internship, with an accounting manager, could you list down a few tips? I'd appreciate your response. PS keep the great work its amazing to find accounting enthusiasts like you
Hey IGadgetX. Thanks! Just slow down and be your "professional self". Visualize someone you regard as professional and behave similar to them. When asked a question, don't rush to answer it. Pause. This shows maturity. Technical stuff can be learned on the job, but in the end, it comes down to "Does this manager like working with you?". So be likeable. Likeability is about listening to the other person carefully and have smart comments. Don't stress to much. Think "What's the worst that can happen", you are not dead if you don't get the job. So just take it easy.
@@TheFinancialController this seems like just the advise I was looking for man! cheers to you and I hope to update you with my success with the interview later.
@@TheFinancialController excellent advice
@@TheFinancialController I have an interview in 3 hours… this reply right here is what I needed! Thanks !
Refreshed my knowledge ... Thank You
Thanks sameer!
That's very helpful, thank you so much!
Thank you for being a fan :)
I watched a lot of your videos and I got a great job staring at next month, thank you！
Nice job!
Good!! Never thought of interviewer will asked these and thank you for pointing out! Amazing 😻
Thanks!
Wow! That’s a lit ! Thank you for your effort
Thanks Dana :)
I have an interview tomorrow glad to find this hope I get it
This is very helpful. Thank you so much!
Thanks!
This channel is the Sauce!
Hi bill , would you please share the behavioral interview question for entry level staff accountant..
Hello! I interviewed many times with accounting firms and got an offer from a Big 4 firm. Most of the questions were the same such as: tell me about a time you showed leadership, teamwork, made a mistake, etc.
There’s a big difference between bragging and simply stating facts. One way to avoid bragging is to quantify your achievements. Ex. “I implemented method X and our work output increased by 25%”.
The most important question is: Tell me about yourself. This can turn the interview into more of a conversation and that is the goal. Be relatable and friendly. They’re thinking, “can I spend 60+ hours around this person?”
Good luck! :)
Nice Video, and gained knowledge. Thanks for that. Watched 2 Ads as well.
Haha thanks for watching the ads
@@TheFinancialController No worries Will keep watching your Videos and the Ads as well 🙏🙏.Keep up the good work and all the Support way from India🙏🙏
I am always happy and more confident when I heard your vedios
Your videos Sir are very powerful and educative am asking for the link to download the balance sheet.
I'm grateful to you Mr. Bill
Helpful video to get myself prepared for interview in the future xD
Great Chong, good luck mate
Thank you so much for sharing your experience .. Appreciate it.
Can you explain this sentence, please?
"due to the amortization of initial costs, the risks of negative working capital are mitigated"
And need to know more about "Amortization".
Your quick reply will be highly appreciated, as I have an interview this week :)
Regards,
Maged
very good explanation sir. surprised i just saw this account today. but am here to stay.
Welcome sona
on question #2.. when working capital is negative in your example where you're collecting cash up front as a restaurant and delaying your AP... wouldn't that increase working capital equally as the cash increases CA whereas the delayed Payables increase AP? With the cogs being lower than sales usually, wouldn't working capital actually be increasing in that example as opposed to decreasing as you had suggested? thanks for the clarification in advance, Bill. =)
I had the same question. As you’re receiving payments for AR, cash would be increasing as AR is decreasing. Wouldn’t the net effect on CA be zero?
Your Analysis is awesome 🙏
Thanks Arun!
It's very useful, but one day after I have seen. My interview, loose my job the working capital question came.
sorry to hear that, better luck next time
very clear explanation. Thanks a lot
Very thorough discussion. Appreciate the details explained. I have locked-in a promising accounting internship, but your advice on this information (imo), cannot be overemphasized, especially for an upcoming entry level accountant like myself. As a kind suggestion, maybe eliminate the background music while you're speaking, it can be distracting. Thank you.
Hi, all your videos are wonderful. Will you please make some videos for managerial role?
Yes
Current assets bigger than current liabilities is positive working capital, not negative.
Thanks for the video! Very good materials
Thanks
In the example for working capital, you mention restaurants collects cash & delay payments to suppliers. So, Accounts Receivable doesn't exist & Accounts Payable goes up. However, restaurant is collecting cash which is also a current asset...? where that cash goes...?
Thank you so much sir.
Your videos are very helpful👍🏻
Keep going,
Thanks
If a restaurant only has cash sales, sure it won't have A/R, but it will have cash. Which is part of current assets. Just because it's cash sales shouldn't really affect working capital or current ratio, it's just a different line item in current assets. What makes it OK to have negative working capital then?
This is amazing. Thank you!
Thanks Maximus!
Reviewing just two hours before the second interview 😊
Best of luck!
Hi,can you explain difference between accrual and deferred with example please
Ok will do
Hi, You have such an amazing and informative content. It has helped a lot to revise my knowledge. Could you please do a video on fixed assets. Thanks a lot!!!!!!!!!!!!!!
Thanks Hira. Yeah will cover fixed assets soon. Be sure to watch all my videos :)
I am also waiting for that ..since I am working in FA
Great presentation ❤❤❤❤
very useful.easy to understand
Thank you! 🙏
complette agree with this video thanks for the explanning and the example
Great 😊
Great video!
I think accrued expense impact the cash flow statement and doesn't show up in income statement? why you said the opposite because accrued expense show up in the balance sheet
Thank you so much, we'll done
I’m a female FL CPA of 10 ys w/Audit & various industry experience starting a Controller position tomorrow of a Restaurant/Bar group (6 successful rest/bars under an umbrella holding co). I’ll report to CEO & have an experienced, eager to learn bookkeeper. Any specific recommendations of ways to get off on the right foot & right balance of personable & respect with coworkers?
Also, will you share some drilled down guidance on best practices for daily workflows and/or some do’s & dont’s to ensure efficient/accurate work product while also earning/keeping coworker/superior’s respect & value as an asset to the team? I know it’s hard to regain initial respect/perceived value, critical to start off & maintain it, sometimes due only to the difficulty non accountants have understanding what we do & how long various tasks take…any/all input is so appreciated. Thank you for what you do- you’re filling a hole that existed for too long by providing such practical, specific, nitty gritty content. Keep it up!! Bravo!
Your videos are great.
happy to find you, it helps me a lot to be confident during interview..keep it up.
Good luck Allan!
You are fantastic. Could you help in the area of CPA questions.
Sure, will make videos on that
Hi Sir, I have been asking a question, that what are the outstanding debits in Bank Statements, list some of them ,and why so important to a Finance Manager or CFO's ? Please clarify, thanks.
Thanks for the explanation.
Thank you 🙏
I've been invited for an interview with acc manager, vice president and department peers all the same day. What does it mean? Why do they want me to meet all the same day?
Can you please explain 4th question with an example....?
I’m confused, isn’t inventory an asset which makes it a debit?
Best ac viseo for me ❤
I’m going for a job interview as trainee chartered accountant. I would like to know if these interview questions still applies ?
yes
great video!
Do you think becoming an accountant at 40 is a bit too late? Any cons? Companies might not hire me due to age?
Thanks for your advice.
A little late, but doable. I recently watched the movie Pursuit of Happiness. I like when he said “don’t you ever let someone say you can’t do something”
The fifth question is kind of unclear as to whether a company is selling on account or cash. Also, we dont know if the company is using a perpetual or periodic inventory system. The latter question might be obvious, but I think is better to ask to show that you're aware of the difference in the journal entries.
I thought that too, but he said the cost is $800, it can be assumed he means the historical cost of that particular TV he's selling. He already did the FIFO/AVCO for you in saying "cost is $800"
Thank you for sharing
Thanks Jackie!
I need it right now
Great effort appreciating
Glad it’s helpful
Thank you so much 🎉
is bookkeeper included the same question?
Very helpfull 🔥
Keep going , I am b.com professional accounting 3rd year For me there's a interview or not
Thanks!
My first time as accountant, my owner ask me the first question
Awesome 👏🏾
Any website available
These are not trick questions. A trick question is one that sets out to mislead such as "if a plane crashes exactly on the US/Canada border, in which country would they bury the survivors?".
How it’s possible, you said WC is negative when CA is bigger than CL.
Hi, Bill, u r too good as a teacher / professor. aamalay?
well explained.....👍👍
Thank you!
Very useful 👍
Thanks Deepi! Fun to be an accountant;)
@@TheFinancialController i am 6 yrs experienced in account payable now searching for job in Europe pls suggest some good vedios to improve my skills..