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Financial Controller Test

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Type

Role Specific Skills

Time

8 minutes

Level

Medium

Questions

8

About the Test

This test assesses the knowledge of a candidate’s Problem-solving, Accounting, Analytical, Critical Thinking, and Numerical skills.

Finance is essential in helping businesses track income and expenditures, ensure statutory compliance, and provide investors, management, and government with the financial information they need to make sound business decisions. A Financial Controller measures, processes, and communicates the financial information of a business or corporation.

A Financial Controller has to work across various financial accounting topics, from balance sheets and income statements to cash flow and owners’ equity. They are responsible for recording and documentation, classification and summarizing, reporting and presentation, interpretation, and financial analysis for an organization.

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Skills Measured

  • Budgeting Processes
  • Evaluating and Managing Risk
  • Income Statement and Balance Sheet
  • Internal Controls

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1

Budgeting Processes

Budgeting processes are the methods and procedures that a financial controller uses to develop and implement budgets for an organization. This includes setting financial targets, allocating resources, and monitoring budget performance.

2

Evaluating and Managing Risk

Financial controllers are responsible for evaluating and managing financial risks, such as market risk, credit risk, and liquidity risk. This includes identifying potential risks, implementing controls to mitigate those risks, and monitoring risk exposures.

3

Income Statement and Balance Sheet

The income statement and balance sheet are financial statements that provide information about a company’s financial performance and position. The income statement shows a company’s revenues, expenses, and net income over a specific period of time, while the balance sheet shows a company’s assets, liabilities, and equity at a specific point in time. Financial controllers are responsible for preparing and analyzing these statements in order to understand the financial performance and position of the organization.

4

Internal Controls

Internal controls are the systems and processes that are put in place to ensure the accuracy and integrity of financial transactions. Financial controllers are responsible for implementing and monitoring internal controls in order to ensure compliance with financial regulations and to protect the assets of the organization.

The test is created by a subject-matter expert

Testlify’s skill tests are designed by experienced SMEs (subject matter experts). We evaluate these experts based on specific metrics such as expertise, capability, and their market reputation. Prior to being published, each skill test is peer-reviewed by other experts and then calibrated based on insights derived from a significant number of test-takers who are well-versed in that skill area. Our inherent feedback systems and built-in algorithms enable our SMEs to refine our tests continually.

View sample score cards

Top five hard skills interview questions for Financial Controller

1. Can you explain the process you follow for creating and maintaining a financial budget?
Why this Matters?

A financial controller is responsible for developing and maintaining financial budgets. This question will help you understand the candidate’s experience with budgeting and their ability to plan and forecast financial requirements.

What to listen for?

Listen for a well-defined budgeting process that includes forecasting, budget development, budget monitoring, and budget reporting. The candidate should have experience with budgeting software and be able to discuss any challenges they’ve faced while creating or maintaining a budget.

2. How do you ensure financial statements are accurate and in compliance with regulations and accounting standards?
Why this Matters?

Financial controllers are responsible for ensuring the accuracy of financial statements and that they comply with regulations and accounting standards. This question will help you understand the candidate’s knowledge of financial reporting and their experience with accounting regulations.

What to listen for?

Listen for a detailed explanation of the steps the candidate takes to ensure financial statements are accurate and comply with regulations. The candidate should be familiar with GAAP, IFRS, and other accounting standards. They should also have experience with accounting software and be able to discuss any challenges they’ve faced in ensuring financial statement accuracy.

3. Can you describe your experience with internal controls and audit compliance?
Why this Matters?

Financial controllers are responsible for maintaining and evaluating internal controls to ensure compliance with audit standards. This question will help you understand the candidate’s experience with internal controls and their ability to maintain compliance with audit requirements.

What to listen for?

Listen for a thorough understanding of internal controls and their importance in maintaining audit compliance. The candidate should have experience designing and implementing internal control systems, as well as experience preparing for and managing audits.

4. How do you assess financial risk and implement risk management strategies?
Why this Matters?

Financial controllers must be able to identify and mitigate financial risks. This question will help you understand the candidate’s experience with risk assessment and their ability to develop and implement risk management strategies.

What to listen for?

Listen for a detailed explanation of the candidate’s risk assessment process, including identifying potential financial risks and developing strategies to mitigate them. The candidate should also have experience monitoring and reporting on risk management activities and be able to discuss any challenges they’ve faced in managing financial risks.

5. Can you explain your experience with financial modeling and forecasting?
Why this Matters?

Financial controllers must be able to create accurate financial models and forecasts to support strategic decision-making. This question will help you understand the candidate’s experience with financial modeling and forecasting.

What to listen for?

Listen for a detailed explanation of the candidate’s experience with financial modeling and forecasting, including any software tools they’ve used. The candidate should be able to discuss any challenges they’ve faced while creating financial models and forecasts and provide examples of how their forecasts have supported decision-making in the past.

Frequently Asked Questions for Financial Controller

The Financial Controller assessment is a tool that is used to assess a candidate’s skills and knowledge related to financial management, including principles and practices such as budgeting, forecasting, and financial analysis.

The Financial Controller assessment helps recruiters and hiring managers to assess a candidate’s skills and knowledge related to financial management, including the ability to analyze financial statements, develop and implement financial policies and procedures, and manage financial risks.

  • Finance & Accounting Manager
  • Accounting Assistant
  • Treasury Manager
  • Business Consultant
  • Corporate Controller
  • Director of Accounting
  • Finance Manager
  • Business Controller
  • Financial Controller

  • Budgeting Processes
  • Evaluating and Managing Risk
  • Income Statement and Balance Sheet
  • Internal Controls

Financial controllers should have strong analytical and problem-solving skills, as well as excellent communication and interpersonal skills.

Frequently Asked Questions (FAQs)

Want to know more about Testlify? Here are answers to the most commonly asked questions about our company.

These are ready-made tests, existing in our test library, created by subject matter experts. We have 200+ such skills tests covering various skills from programming skills to DevOps, including Aptitude and Personality testing.

You can go to the ‘Test Library’ tab and search for tests from the Job Role or Test Type drop-down menu.

Currently, we do not offer any sample tests. However, when you select a test, there would be a few practice questions before the start of the actual test, which would give you a fair idea of how the entire test would look.

Our tests typically take between 25-30 minutes to complete.

In case you need to test for a unique skill-set or specialized experience, you can add your own questions and customize the test to suit your requirements.

We’ve put a lot of effort into ensuring a conducive test environment. A stable internet connection, an internet browser with cookies and Java-Script enabled is all that is required!
However, for a smooth test-taking process, we recommend the following browsers:
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Yes, our tests are compatible with almost all modern mobile devices (including tablets) that have a webcam installed.

Yes, our tests are EEOC (Equal Employment Opportunity Commission) compliant and are whetted by subject matter experts, thus having high reliability (test consistency) and validity (accuracy of the test).

Yes! We integrate with popular recruiting tools such as Greenhouse, Lever, GoodTime, and many more.

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