What do you do if you're asked about your experience with financial statements in an interview?

1 Know the basics

Prior to the interview, it is essential to have a solid understanding of the fundamentals of financial statements. You should be able to articulate what each of the four main statements are, how they are created, and what they reveal. These four statements include the income statement, which displays revenues, expenses, and net income or loss over a period of time; the balance sheet, which illustrates assets, liabilities, and equity at a point in time; the statement of cash flows, which shows the sources and uses of cash for a period of time; and the statement of changes in equity, which shows the alterations in the owners' claims on the assets of a business for a period of time. Additionally, you should be knowledgeable about accounting principles, regulations, and policies that control the making and presentation of financial statements such as GAAP or IFRS.

2 Highlight your experience

When discussing your experience with financial statements, be sure to provide specific examples and details. You could mention the types and sizes of businesses or clients you have worked with, the software or tools used to create, access, or review financial statements, the reports or documents you have prepared or contributed to, any challenges or issues faced or solved, and any feedback or recognition you have received. For instance, you could talk about working with Excel, QuickBooks, or SAP; preparing budgets, forecasts, variance analyses, or audit opinions; reconciling adjustments or resolving discrepancies; and receiving compliments, awards, or promotions.

3 Demonstrate your skills

In order to demonstrate your skills and knowledge related to financial statements in the interview, you should use relevant terminology and jargon, show your ability to interpret and analyze financial statements, ask insightful questions or make meaningful comments about the company’s financial statements, and express your interest and enthusiasm for working with financial statements. Using these tips can help you impress the interviewer and prove that you have the experience and skills necessary to handle financial statements in a corporate accounting role. Best of luck!

4 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?