General Accountant: Questions to Ask in Your First Week

What to Ask in Week 1 as a General Accountant

Starting a new role as a General Accountant? Don’t just sit back and observe. Use your first week to gather critical information that will set you up for success. This isn’t a generic onboarding guide; it’s a playbook for making a strong first impression and getting a head start on contributing to the team.

This article will equip you with the right questions to ask, the critical areas to investigate, and the key stakeholders to connect with during your initial week. You’ll learn how to quickly understand the financial landscape of the company, identify potential risks, and build relationships that will support your work. This is about asking the right questions, not just any questions.

What You’ll Walk Away With

A checklist of 15+ essential questions to ask during your first week, categorized by key areas like financial reporting, internal controls, and budgeting.
A script for initiating conversations with key stakeholders, ensuring you gather crucial information efficiently.
A rubric for assessing the strength of the company’s internal controls, allowing you to quickly identify potential vulnerabilities.
A proof plan for demonstrating your understanding of the company’s financial processes and identifying areas for improvement within 30 days.
Decision rules for prioritizing your initial tasks and focusing on the most impactful areas.
A language bank of phrases to use when discussing sensitive financial information with stakeholders.

Scope: What This Is and Isn’t

This is: A guide to asking strategic questions during your first week as a General Accountant.
This is: Focused on gathering information to quickly understand the company’s financial health and processes.
This isn’t: A comprehensive training manual for all aspects of the General Accountant role.
This isn’t: About technical accounting skills or specific software tutorials.

Essential Questions to Ask in Your First Week

Your goal is to quickly understand the company’s financial operations and identify any potential issues. These questions will help you gather the necessary information.

What are the key financial reporting deadlines? Purpose: Understand the reporting cycle and ensure timely submissions. Output: A calendar of reporting deadlines.
What accounting software and systems are used? Purpose: Familiarize yourself with the technology stack and identify any training needs. Output: A list of software and systems with user manuals.
What is the process for month-end close? Purpose: Understand the steps involved in closing the books and identify potential bottlenecks. Output: A flowchart of the month-end close process.
Who are the key stakeholders in the finance department and other departments? Purpose: Build relationships and understand the flow of information. Output: A stakeholder map with contact information and roles.
What are the company’s key performance indicators (KPIs)? Purpose: Understand the metrics used to measure success and identify areas for improvement. Output: A list of KPIs with definitions and targets.
What is the budget process and timeline? Purpose: Understand how budgets are created and managed, and identify opportunities for input. Output: A schedule of the budget process and key dates.
What are the company’s internal controls? Purpose: Assess the effectiveness of controls and identify any weaknesses. Output: A summary of internal controls with documentation.
What is the audit process and timeline? Purpose: Understand the audit requirements and prepare for upcoming audits. Output: An audit schedule and list of required documents.
What are the company’s policies and procedures? Purpose: Ensure compliance and understand the guidelines for financial operations. Output: A list of policies and procedures with links to documentation.
What are the current challenges facing the finance department? Purpose: Identify areas where you can contribute and offer solutions. Output: A list of challenges with potential solutions.
Can I see examples of past financial reports and analyses? Purpose: Understand the format and content of reports and analyses. Output: Sample reports and analyses.
Who is responsible for approving journal entries and other financial transactions? Purpose: Understand the approval process and ensure proper authorization. Output: A list of approvers with their roles and responsibilities.
What is the company’s policy on expense reimbursements? Purpose: Understand the rules for expense reimbursements and ensure compliance. Output: The company’s expense reimbursement policy.
What are the company’s tax obligations and deadlines? Purpose: Understand the tax requirements and ensure timely filings. Output: A tax calendar with deadlines and requirements.
What is the company’s policy on data security and privacy? Purpose: Understand the rules for protecting financial data and ensure compliance. Output: The company’s data security and privacy policy.

A Script for Initiating Conversations

Use this script as a starting point for your initial conversations with key stakeholders. Tailor it to the specific person and situation.

Use this when introducing yourself to a new colleague.

Hi [Name], I’m [Your Name], the new General Accountant. I’m excited to be here and learn more about [Company]. I was hoping to schedule a brief meeting with you to understand your role and how it intersects with finance. Would you be available sometime next week? I’m particularly interested in learning about [Specific area related to their role].

Rubric for Assessing Internal Controls

Use this rubric to quickly evaluate the strength of the company’s internal controls. This will help you identify potential vulnerabilities and areas for improvement.

Use this to evaluate the strength of internal controls.

Criteria:

Segregation of Duties: Are responsibilities divided to prevent fraud and errors?

Authorization Controls: Are transactions properly authorized and approved?

Reconciliation Procedures: Are accounts reconciled regularly to ensure accuracy?

Physical Controls: Are assets protected from theft and damage?

Information Processing Controls: Are data inputs and outputs accurate and complete?

Monitoring Controls: Are internal controls monitored and evaluated for effectiveness?

Rating Scale:

Strong: Controls are well-designed and consistently followed.

Adequate: Controls are generally effective but may have some weaknesses.

Weak: Controls are inadequate and pose a significant risk.

Proof Plan: Demonstrating Your Understanding

Follow this plan to demonstrate your understanding of the company’s financial processes and identify areas for improvement within 30 days. This will show your commitment and competence.

Week 1: Ask the essential questions and gather information from key stakeholders.
Week 2: Review financial reports and analyses to understand the company’s performance.
Week 3: Assess internal controls and identify any weaknesses.
Week 4: Develop recommendations for improving financial processes and controls.

Decision Rules: Prioritizing Your Tasks

Use these decision rules to prioritize your initial tasks and focus on the most impactful areas. This will help you make the best use of your time and resources.

Focus on understanding the month-end close process first. This is critical for ensuring accurate and timely financial reporting.
Prioritize building relationships with key stakeholders. This will facilitate communication and collaboration.
Address any identified internal control weaknesses immediately. This will reduce the risk of fraud and errors.

Language Bank: Discussing Sensitive Financial Information

Use these phrases when discussing sensitive financial information with stakeholders. This will help you communicate effectively and professionally.

Use these phrases when discussing sensitive financial information.

“Based on my initial review, I’ve identified some potential areas for improvement in our internal controls.”

“I’m concerned about the accuracy of our financial reporting due to the lack of segregation of duties.”

“I recommend implementing a more robust reconciliation process to ensure the accuracy of our accounts.”

“I’d like to discuss the budget process and timeline to ensure we’re aligned on our financial goals.”

“I’m committed to ensuring the accuracy and integrity of our financial information.”

What a Hiring Manager Scans for in 15 Seconds

Hiring managers quickly assess your ability to grasp complex financial situations and identify key risks. They’re looking for signals that you can hit the ground running.

Asks pointed questions about internal controls: Shows you understand the importance of preventing fraud and errors.
Seeks to understand the month-end close process: Indicates you prioritize accurate and timely financial reporting.
Requests to see examples of past financial reports: Demonstrates your desire to learn and understand the company’s financial performance.
Identifies potential areas for improvement: Shows you’re proactive and can contribute to the team.
Builds relationships with key stakeholders: Indicates you understand the importance of communication and collaboration.

The Mistake That Quietly Kills Candidates

Failing to ask insightful questions during your first week can make you appear disinterested and unprepared. This can create a negative impression that’s difficult to overcome.

Instead of passively observing, take the initiative to gather critical information and demonstrate your understanding of the company’s financial operations. For example, don’t just ask about the budget process; ask about the key assumptions and challenges involved in creating the budget. This shows you’re thinking critically and can contribute to the team.

Use this to reframe your approach to asking questions.

Weak: “What’s the budget process?”

Strong: “I’m interested in understanding the key assumptions and challenges involved in the budget process. Could you provide some insights into the drivers of our revenue and expenses?”

FAQ

What is the most important thing to focus on during my first week?

The most important thing is to gather information and build relationships. Ask questions, listen carefully, and take notes. This will help you quickly understand the company’s financial operations and identify potential issues. Focus on understanding the month-end close process, assessing internal controls, and building relationships with key stakeholders.

How many questions should I ask during my first week?

There’s no magic number, but aim to ask at least 15-20 questions. Focus on asking insightful questions that demonstrate your understanding of the company’s financial operations. Don’t be afraid to ask follow-up questions to clarify your understanding.

Who should I talk to during my first week?

Prioritize talking to key stakeholders in the finance department, such as the CFO, controller, and other accountants. Also, reach out to stakeholders in other departments, such as sales, marketing, and operations, to understand how their roles intersect with finance. For example, in a manufacturing company, talk to the operations manager to understand the cost of goods sold.

What if I don’t understand something?

Don’t be afraid to ask for clarification. It’s better to ask a question and understand something than to remain confused and make a mistake. Frame your questions in a way that shows you’re trying to learn and understand. For example, say, “I’m trying to understand [concept]. Could you explain it in more detail?”

What if I identify a potential problem?

Bring it to the attention of your supervisor or mentor. Explain the problem clearly and concisely, and offer potential solutions. Be prepared to provide supporting documentation and evidence. For example, if you notice a discrepancy in the financial reports, bring it to the attention of your supervisor with the supporting documentation.

How can I make a good impression during my first week?

Be proactive, enthusiastic, and eager to learn. Ask insightful questions, listen carefully, and take notes. Dress professionally and be punctual. Show your commitment to ensuring the accuracy and integrity of the company’s financial information. A strong General Accountant is proactive and detailed.

Should I focus on learning the technical aspects of the role or building relationships?

It’s important to balance both. While it’s important to understand the technical aspects of the role, building relationships with key stakeholders is equally important. This will facilitate communication and collaboration, and help you get things done. Building relationships can improve forecast accuracy.

What if I don’t have all the skills required for the role?

Be honest about your strengths and weaknesses. Focus on learning the skills you need to succeed in the role. Ask for training and mentorship. Be proactive in seeking out opportunities to develop your skills. Acknowledge the gaps and create a 30-day plan to address them.

How can I prioritize my tasks during my first week?

Focus on understanding the month-end close process, assessing internal controls, and building relationships with key stakeholders. These are the most important tasks for ensuring the accuracy and integrity of the company’s financial information. Use a checklist to track your progress and ensure you’re staying on track.

What should I do if I feel overwhelmed?

Talk to your supervisor or mentor. Explain how you’re feeling and ask for guidance. Break down your tasks into smaller, more manageable steps. Focus on one task at a time. Don’t be afraid to ask for help.

How can I demonstrate my value to the company during my first week?

By asking insightful questions, identifying potential problems, and offering solutions. By building relationships with key stakeholders and demonstrating your commitment to ensuring the accuracy and integrity of the company’s financial information. Document your findings and share them with your supervisor.

What are some common mistakes to avoid during my first week?

Failing to ask questions, not building relationships, not understanding the company’s financial operations, not assessing internal controls, and not seeking clarification when you’re confused. Avoid making assumptions and jumping to conclusions.

Should I try to implement changes during my first week?

It’s generally best to wait until you have a good understanding of the company’s financial operations before implementing changes. Focus on gathering information and building relationships first. Then, develop a plan for implementing changes that is aligned with the company’s goals. Suggest changes only after you’ve understood the existing processes.

What if I disagree with something I see?

Be respectful and professional. Explain your concerns clearly and concisely, and offer alternative solutions. Be prepared to listen to the other person’s perspective and understand their rationale. Frame your disagreements as opportunities for improvement. Disagree respectfully and offer data to support your viewpoint.

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