From the course: Job Interview Tips for Accountants

How to approach this question

From the course: Job Interview Tips for Accountants

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How to approach this question

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- One thing's for sure. The interviewer will ask a lot of technical accounting questions, but they won't always be about financial reporting. Prepare yourself for the operational accounting questions too. It's important to recognize this question is from a management accounting perspective, so it requires interpretation as it relates to decision-making requirements. The interviewer is looking for two parts, a technical answer which is right up your alley and the other from a decision-making perspective which may be somewhat more challenging. To answer this question, start by going beyond the technical concepts. The interviewer is looking to assess more than your technical accounting skills. While you may want to jump into the technical calculations, make sure to address the qualitative elements to making the final decision. Then share a personal story. Using a capital investment example from a previous role, detail how you used a relevant methodology to explain the financial profitability or ROI. Showcase your technical competency by acknowledging a variety of methodologies. Finally, consider the big picture. Demonstrate in-depth knowledge by including qualitative decision-making elements in your answer. Include questions that you'd ask about the item's purpose or strategy to demonstrate your holistic approach. Try to recognize that this type of question is more than just the interviewer seeing if you can do the calculation. Every candidate they're interviewing can or should be able to do this. The real value is how you help them make a valued business decision. Always take into account the stakeholders' needs.

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