Finance Interview Questions & Answers | For Entry-Level Roles!

[@eric_andrews]

Questions? Let me know in the comments happy to discuss. 🚀 Also, if you want to learn which finance frameworks the top 1% of founders use to scale their startups to massive outcomes, have a look at this ⇒ www.ericandrewsstartups.com/financeforstartups

[@duncanmahood2878]

I really like your point about asking the interviewer about their job or the company culture. I am always impressed as an interviewer when candidates ask me questions like this. It shows a lot of initiative!

[@eric_andrews]

Yes - if you have any other good questions coming from interviewees please let us know Duncan! Thanks for checking it out 🙏

[@sabrinapizarro844]

Hi Eric, it's really encouraging to listen to someone who has worked in finance for so many years give people advice. I don't have any experience in the interview process but this gave me a bit of confidence for when the time comes. I hope to be able to speak to finance professionals such as yourself one day. Thank you!

[@eric_andrews]

You got this! I think if you look at this video, my 3 statement financial model (kzbin.info/www/bejne/rp27dY2vj56UsM0), and the DCF model (kzbin.info/www/bejne/fZ6TiaGVgs6XkJo) you would basically be ready for anything they could throw at you and more. Best of luck

[@estyanike]

Eric you are really good at what you do. All the points you mentioned about financial management were very clear such that anyone who does not understand finance Management would really get insights from it. Well done

[@gregorycohen5221]

Wow, super helpful! Thanks for putting finance into such simple, digestible terms. Appreciate all of these high quality videos.

[@eric_andrews]

Thanks Greg! Just trying to make getting started in finance a simpler process for everyone!! Appreciate the comment 🙏

[@eric_andrews]

Thanks for watching! What are some other finance interview questions you are prepping for? Stay tuned for part 2 of the series 😎

[@vinodhakarthik8485]

How can finance folks help and support sales and marketing team?

[@eric_andrews]

@@vinodhakarthik8485 This is a really important question. First off, a good CFO will make the CMO way more effective, and vice versa. But how? Well, the way digital marketing works these days is that you can track all your marketing spend to see how many purchases you drive with your advertising. A finance person who deeply understands concepts like CAC (customer acquisition cost, kzbin.info/www/bejne/boimmaCHqrmYhJI) will be able to understand marketing and support / partner with them to give them more budget when they are driving more revenue at lower costs, and will also know when to reduce budgets if marketing is not effective. If the finance team doesn't understand these digital marketing concepts like the marketing funnel (google it!), they will not be able to understand or support marketing, because they will be clueless to how well things are working. A good finance person makes everyone around them more effective.

[@vinodhakarthik8485]

@@eric_andrews Thank you so much.

[@7md1996]

Man!! to be honest 80% of all these questions were mentioned on the interview one month ago!. Thanks a lot, I will use them on tomorrow's interview.

[@eric_andrews]

@@7md1996 haha awesome good luck!

[@2ndChance54]

I needed a KZbinr like you, you are doing well, thank you so much

[@eric_andrews]

Glad I could help!

[@eric_andrews]

Been getting a lot of comments asking about case studies in finance interviews 😎 so I just released a lesson on: Solving a Finance Case Study + Making a Recommendation ► kzbin.info/www/bejne/p4a1lZKgedeEqas

[@nathanolorcisimo7796]

I have an upcoming Interview for the Analyst position. This video and the Financial Model video really helped me. Thank you

[@eric_andrews]

You are very welcome good luck!

[@oduwo]

This was a fantastic video! Thank you for the interview prep help Eric

[@eric_andrews]

You are very welcome!

[@vanessaagik1209]

Wow I love how I’m understanding It feels great being in a space where the talk is familiar to your ears 🤗🤗 First time coming by your page and it’s so helpful

[@eric_andrews]

That's what I like to hear! Don't forget to subscribe there are a ton of resources here on my channel for you to keep learning 😁

[@eugenedennisoncoker157]

I like the is video it gives a real refresher & confirmations to a finance practitioner

[@kevinkonga7324]

I just passed the interview on your channel thanks ☺️

[@jiachen8353]

Oh my god can you share your interview process

[@Fruitcake69]

This is great! Well put for beginners and incredibly easy to digest and understand. Props brother!

[@eric_andrews]

I appreciate that! Good luck out there!!

[@gangadharp5412]

This is really helpful. Great work!

[@eric_andrews]

My pleasure

[@MMNNLL2468]

Subscribed! Thank you for the helpful tips! Very clear and straightforward

[@nityabardhan5550]

Thanks Eric. This was really helpful and motivating!

[@eric_andrews]

My pleasure Nitya!!

[@RankaNikunj]

8:41 So Tesla is receiving money, so what entry they should be passing? Why cant they pass below entry? Cash A/c Dr Advance Income A/c Cr But you said they won't be showing Cash in Balance Sheet, so where they'll show their Cash which they have generated in January? Why cant they show that Advance Cash as Prepayment/Advance Income in B/s by passing my above entry?

[@eric_andrews]

They will be showing the cash on their balance sheet, but no revenue on their income statement until they deliver the car. The deferred revenue balance (liability) would go up correspondingly with the cash (when they receive pre-payment), but then the deferred revenue would disappear (drop down) when they deliver the car and report the revenue on the P&L.

[@RankaNikunj]

@@eric_andrews ok got it. So dual effect of my entry will only affect Balance Sheet (Because both Cash and Prepayment are Asset and Liability) and nothing will be reported in Income statement by default. So my Journal entry was right?

[@eric_andrews]

@@RankaNikunj Ya I think so, from your description. But remember once the car is delivered, the revenue then gets reported on the income statement and gets simultaneously booked to the balance sheet to offset the deferred revenue. So the first entry is all on the balance sheet, but the senond hits the p&l and bs.

[@RankaNikunj]

@@eric_andrews Ya on April they'll be passing this Journal (please do correct me if I'm wrong) Prepayment A/c Dr Sales A/c Cr

[@eric_andrews]

@@RankaNikunj That looks right to me

[@ajjajk]

I have an interview for debt management officer next week, please give me any tips or answers as to what the questions maybe.

[@eric_andrews]

I would make sure that you study the three statement financial model video that I have. Also make sure that you understand and study the typical debt management ratios like debt to ebitda and also understand free cash flow well. I haven't worked in that specific role but managing debt is all about downside protection, liquidity preferences, and financial ratios of the debt which we call covenants. Good luck

[@sporaasonganyi1644]

Amazing video.very easy to understand and retain. Well done

[@eric_andrews]

Thanks!

[@Victoria_1330]

Very insightful! Thanks! 👍🏼

[@1234554321marcus1]

Very Helpful video, thank you. Very interesting answers, I learned a lot :)

[@eric_andrews]

Glad to hear it Jairus!

[@naveennatukula5233]

Nice video about finance role. Really like your saying..

[@FinanceVector]

I really appreciated this. Very helpful.

[@eric_andrews]

Hey Jaison - really glad it was helpful. Thanks for letting me know and good luck with your future finance interviews 😁😁

[@АртурМамедов-й6ж]

watching from Russia, thank you!

[@eric_andrews]

Glad to hear it, thanks for watching!!

[@neil_sol]

so for the Tesla delivery example, using the accrual method the cost of the car would show up as revenue on the income statement, but would be zero on the cash flow statement until it has been delivered?

[@eric_andrews]

Close, but actually would be the exact opposite of what you said. Any payments /costs would flow through the cash flow & balance sheet in real time but would be zero on income statement until delivery.

[@saudarshi6916]

That is the most complete video I saw for a finance job interview, thanks for the great video.

[@eric_andrews]

Glad you enjoyed it Saud, thanks for letting me know 🙏

[@mariekinyua2108]

This is so good 👍

[@pierrevss2399]

Thank you for this useful video!

[@eric_andrews]

My pleasure pierre!

[@lucaszamorano823]

Thanks for the video

[@eric_andrews]

You bet

[@sarahn3935]

I have job interview for financial analysis next Monday it’s hard for me because I graduated 3 years ago from master of financial analysis and I worked as a self employed in different sector . Any advice for me. Thank you

[@eric_andrews]

I recommend you watch my finance interview prep series playlist kzbin.info/aero/PLdoBuNNnCmdXom4YXwTID-W1obBftGEEE

[@sarahn3935]

@@eric_andrews they contact me saying I should focus on the financial analysis and the budget example for the companies. Do you have any suggestions?

[@eric_andrews]

@@sarahn3935 first, study the entire interview playlist, it has financial modeling lessons. After that, study my videos on both creating a budget and building the 3 statement financial model (links below), and I guarantee you will crush your interview: Internal budgeting model: kzbin.info/www/bejne/r3vGfWebqZJ2ors 3 statement financial model: kzbin.info/www/bejne/rp27dY2vj56UsM0

[@morriskiazolu1031]

Thank for the video can I send you my business plan to give me some advice on how go about implementing it?

[@Travelers201]

The video is very helpful. Thank you very much 😁

[@eric_andrews]

You are welcome Anh 👍

[@Travelers201]

@@eric_andrews Hi Eric. Thanks to your video, I secured my job. I cannot thank you enough. Please make more videos. They are very helpful. Have a good day 😁

[@eric_andrews]

@@Travelers201 f**** ya!!!!! Congrats!! I'm working on some new videos this week 👍😎

[@Wadha-kr2od]

amazing ,especially question to company we want more like that smart question,how have recommend

[@eric_andrews]

glad it was helpful for you!

[@addictedhs7043]

Hey will interviewe gave us a chance to ask question from them? Or just we have to ask them in the end of the interview?

[@eric_andrews]

In the beginning just mention that you have some questions for them as well at the end. Usually they will ask if you have any questions anyway. But yes anyone interviewing you will be happy to receive questions

[@keyspanmusic]

Another great video! Super helpful, thanks Eric!

[@eric_andrews]

My pleasure keyspan thanks for checking it out!! 🙏

[@TheFootballPlaya]

I have a question. I am certain on getting a masters degree. More than likely in finance, but coming from a background that is not business. Non-engineering stem field. Are candidates with MS in Finance ineligible for entry level roles or how does the field generally view them? I am career-switching looking for entry-level role.

[@eric_andrews]

I hired someone with an MS in finance for an analyst role and he was awesome. If anything having a non-finance background mixed with a finance master's degree just makes you a more interesting candidate in my opinion.

[@TheFootballPlaya]

@@eric_andrews That's great to hear. Thank you for your response.

[@eric_andrews]

@@TheFootballPlaya 👍 happy to help

[@thandokuhlesecond653]

What questions can you recommend fot finance interns ??

[@eric_andrews]

Study my 3 statement financial model video kzbin.info/www/bejne/rp27dY2vj56UsM0si=Cf9fKgbbv90gcZRF

[@yousefmorsy1546]

No behavioral questions ?

[@ViolinVIBRATO]

I have an interview for a college finance counselor on Friday. I’m so nervous, I have no experience with finance!

[@eric_andrews]

Well, you're in the right place. Check out my finance interview series and I think you'll be pretty prepared kzbin.info/aero/PLdoBuNNnCmdXom4YXwTID-W1obBftGEEE

[@VincentSun]

4:59

[@NIBUSVISUALCREATIONS]

Hi I am pursuing CMA USA. Is it useful for me to get to improve my degree of proficiency in finance as I had been in this field for the past one decade. For the exam point of view is it beneficial?

[@eric_andrews]

Hi, what is a CMA?

[@NIBUSVISUALCREATIONS]

@@eric_andrews certified management accountant IMA

[@eric_andrews]

@@NIBUSVISUALCREATIONS I'm not sure, I've never taken any certifications in finance or accounting....what are you trying to achieve?

[@NIBUSVISUALCREATIONS]

To secure a job as financial executive

[@eric_andrews]

@@NIBUSVISUALCREATIONS To be a financial executive, you need experience working across various roles in finance, and a broad background in capital allocation strategy, financial modeling, and fundraising. From there it is just getting your experience across in an interview and having good communication. Good luck.

[@jms2324]

I don’t think that “Finance Staff need to create plan & project for the future”. I personally believe that boss or board of directors is familiar with the business that they are running or doing & the job for creating plan or projection for the future should be done by boss or board of directors, not finance staff, do you think so?

[@eric_andrews]

Disagree, every person in every role influences decisions. Best way to be successful is to be influential, form big ideas, promote & execute them, and if they are successful you will move up in the world. High-potential people have a huge impact on Day 1 !

[@tarekalsherif57]

Thank you

[@eric_andrews]

Tarek - thanks for checking it out! Really appreciate that and glad to help.

[@enquiryenquiry9069]

Re: Point for Finance Involved Allocating Capital I don’t understand that your video in Finance Interview Questions & Answers | For Entry-Level Roles mentioned that “Finance involved capital allocation”. I don’t think that Finance involved allocating capital. I think that allocation capital function is decided by board of director but not finance department team member. Finance role only provide information to board of director for making decision, is it correct?

[@maricelagutierrez4194]

Now I'm confuse

[@oanhluong7051]

Can you please help us to look into the Banner 9 finance for many people use it to help us create a budget spreadsheet or a interview questions that would be great? Thanks 😁

[@yourmarketingmindset]

As a small business owner, I appreciate your content immensely. Thanks for all of this great material. Can you direct me to a business model for subscriptions? We've begun servicing the websites we built on a monthly basis and I would love to see this projected out with growth and 10% annual customer fall off. thanks!

[@eric_andrews]

Hey Zoltan - it's really my pleasure and thank you so much for diving in and checking everything out. Makes it all worth it for me! Absolutely - here's a video I build about creating a financial model for a subscription business and you can download the model for free in the description => kzbin.info/www/bejne/mKTQqpShrbSDgrs Instead of using the marketing to drive the new clients, you could just put the numbers in yourself. And then for monthly "churn" (customer fall off), you could put the numbers at 0% each month, and then 10% in December each year, that would give you an annual 10% churn. Please let me know if that is helpful, or you are looking for something more. Cheers!

[@jaylara2592]

Wouldn't be part of interview

[@rubykaranja5803]

Its funny how I was good with this at school, and now I can't even remember anything smh

[@eric_andrews]

Everything takes practice and every expert needs to prepare for interviews. Just keep up the hard work learning because I guarantee some of your competition is not doing the preparation that you are right now. Good luck and I recommend checking out the finance case study on my channel as well if you need to brush up kzbin.info/www/bejne/p4a1lZKgedeEqas

[@rubykaranja5803]

@@eric_andrews Thank you, i sure do need to practice. Btw do you have any other videos you can share for Chief Accountant position Thanks again. Be blessed

[@Karanpat]

Fhis guy put 4 ads for 1 question