Interview Format: What to Expect
Typical accounting interview (60 minutes):
- 5— technical accounting questions (30 minutes)
- 4— behavioral questions (20 minutes)
- Your questions (10 minutes)
Interview style: Conversational, not quiz show. Interviewers want to hear your thinking. Say "I'm not sure, but I'd approach it this way..." rather than staying silent.
Technical Accounting Questions
A finance lease (now just called a "lease" under IFRS 16) is a lease where substantially all risks and rewards of ownership transfer to the lessee. Measurement: ROU asset = PV of lease payments + initial direct costs + estimated restoration costs (discounted at the lease's implicit rate or lessee's incremental borrowing rate). Lease liability = PV of lease payments. Each year, accrue interest on the liability and depreciate the ROU asset.
Why this matters: Most leases now appear on the balance sheet, increasing reported assets and liabilities. This affects debt-to-equity ratios and ROA.
Identifiable intangibles: Assets with finite lives (brand names, customer relationships, non-compete agreements). Measured at fair value. Amortised over useful life. Examples: customer list (15 years), brand name (10 years).
Goodwill: The residual (purchase price − fair value of all identified net assets, including identifiable intangibles). Goodwill is NOT amortised; instead, tested annually for impairment. Goodwill reflects the "going concern premium" and expected synergies.
Why this matters: Misclassifying a finite-life intangible as goodwill overstates goodwill risk. Auditors must challenge the separation.
Under IFRS 15, if a customer has a contractual right of return, you estimate the likelihood and amount of returns. Revenue is recognised net of expected returns.
Scenario: goods shipped Dec 31, customer return arrives Jan 10. If the return is within the company's standard 30-day return window (and the customer is exercising that right), the return was probable at year-end. You should have recognised revenue net of the estimated return at Dec 31. Now, reverse the revenue in Jan when the return is confirmed.
Why this matters: Timing of return recognition affects December revenue and January refund recognition. Audit carefully for post-year-end returns.
Behavioral Questions & STAR Method
STAR = Situation, Task, Action, Result. Structure your answer this way.
Situation: During a year-end audit of a £50M manufacturing client, I was testing inventory provisions. My colleague had prepared a reserve for obsolete stock based on last quarter's data.
Task: I needed to complete the testing and validate the provision amount.
Action: I recalculated the provision using current-month scrap reports (latest data, not Q3 data). I found the provision was £200k understated. Instead of just flagging it to my manager, I walked through my calculation with my colleague first, showed them the newer data, and asked if they'd missed the latest reports. They hadn't realised the scrap reports had been updated.
Result: We corrected the provision to £800k. My colleague appreciated the collaborative approach (not a gotcha moment). The client accepted the adjustment. We also discussed how to avoid missing updated data in future audits.
Why this works: Shows integrity (catching the error), judgment (approaching it constructively, not punitively), and teamwork.
Conflict & Judgment Scenarios
I would not sign off. As an accountant, I have a professional responsibility to ensure work I attest to is actually completed. If I sign off falsely, I'm putting my professional reputation and the firm's reputation at risk.
My approach:
1. Ask my manager why: "Is the procedure not needed, or do you want me to complete it?"
2. If time pressure is the issue: "I can complete this by [tomorrow morning] to meet the deadline."
3. If my manager insists I sign without performing: I would escalate to the audit partner. This is a serious professional breach.
Why this matters: Auditors are trusted by the public. Falsifying work papers is fraud. Interviewers want to see you have values and won't compromise them under pressure.
Teamwork & Leadership Questions
Situation: I was working on a consolidation project with a colleague from the subsidiary who had a different approach to intercompany eliminations. They wanted to record detailed sub-ledgers; I favored a summary approach for speed.
Task: We had 3 days to complete consolidation before the group close deadline.
Action: Instead of debating approaches, I said, "Let's both show the benefits of each method and see which fits our timeline and the CFO's preference." We sketched both, timed them, and found a hybrid (detailed in the first pass, then summarised for reporting). Then I asked what was driving their preference for detail—turned out they were concerned about audit trail. I understood that and we solved for it differently.
Result: We delivered consolidation on time. My colleague felt heard and respected. They later told me they appreciated that I didn't dismiss their approach, just problem-solved together. We've worked together on 3 projects since.
Why this works: Shows emotional intelligence, collaborative problem-solving, and respect for others.
Pre-Interview Preparation
- Research the company: Recent news, financial results, audit committee chair, recent acquisitions
- Prepare 5— STAR stories: Error discovery, teamwork, leadership, conflict resolution, technical problem, going extra mile
- Review technical topics: IFRS 15, 16, goodwill, consolidation, any standards mentioned in the job ad
- Prepare 3— questions for them: Not "what's the salary?" but "how has the audit/finance function evolved since the recent acquisition?" or "what's the biggest technical challenge the team is facing?"
- Practice out loud: Record yourself answering a technical question. Listen for clarity and pace. Adjust as needed
Interview Tips & Dos/Don'ts
DOs:
- Ask clarifying questions if a technical question is vague ("Are we under IFRS or US GAAP?" "Is this a public company?")
- Pause before answering. Take 5 seconds to collect your thoughts. It's not awkward; it's professional
- Show your reasoning. "I would start by... then check against the standard by..."
- Be honest about gaps. "I haven't worked with segment reporting, but I'd approach it by..."
DON'Ts:
- Ramble. Aim for 2— minute answers (about 200 words)
- Use company jargon they haven't defined. "We implemented P2P best practices" — what does that mean?
- Criticise prior employers. "My old firm was disorganised" sounds unprofessional
- Assume. If they ask "Tell me about your biggest challenge," don't assume they want a technical story. It could be a teamwork story
Want to practice more scenarios?
Use our Knowledge Test tool to drill interview-style technical questions and get feedback.
Practice With Knowledge Test →FAQs
Should I tell them I'm nervous?
No. A light "I'm a bit nervous, but excited to be here" at the start is fine. But don't dwell on it. Just be professional and answer their questions.
What if I don't know the answer?
Say: "That's a good question. I haven't worked directly with [topic], but I'd approach it by... [show your thinking]." Honesty + problem-solving beats silence.
How much should I talk?
Aim for 40% you talking, 60% them talking (over the interview). For each question, speak for 2— minutes, then pause and let them follow up or move to the next question.
This guide is based on real interview experiences and best practices. Interview formats vary by company and role. Always research the specific interviewer/firm and tailor your answers to their focus areas.
Real-Life Case Study: Answering a Technical Question Under Pressure
Scenario. In a final-round interview, "Priya" is asked to explain, on a whiteboard, how a £1m machine bought on 1 January (useful life 5 years, no residual value) flows through the financial statements in year one.
Her answer. She worked it methodically: capitalise £1m to PPE; depreciate £200k straight-line to the income statement; carrying amount £800k at year end; the £1m cash outflow sits in investing activities, while the £200k depreciation is a non-cash add-back in operating cash flow. She then flagged that if the asset were impaired, IAS 36 would require a recoverable-amount test.
Takeaway. Technical interviews reward a structured walk across all three statements plus one "what could go wrong" observation. Narrate your logic aloud so the interviewer can follow your reasoning even if you slip on a number.
Illustrative composite scenario for educational purposes. Figures are indicative and do not represent any specific company.