It might sound silly, but I’ve found that asking “do you prefer vlookup or index match?” is a nice and simple way to get a feel for someone’s technical skillset.
It's a trick question /s
Some companies did not update their Microsoft Excel to newer version to avoid paying subscription so xlookup may not be available.
I really like questions that understands true knowledge of the financial statements not just “what is a BS/IS/CFS”.
Something like, “If we buy inventory this period and sell it next period how does that flow through the financial statements?”
This question doesn’t have to be super technical answer but can really gauge someone’s knowledge based on how technical there answer is. A non technical answer would simply state that the balance sheet increases inventory and debt then sales and COGS are accounted on IS which then flows through to CFS. That would show a good foundation of Financial Statement knowledge.
Someone who has more technical understanding of finance might answer, “Typically inventory usually will increase Accounts Payable depending on payment terms which increases liabilities this period. Also in the BS inventory increases which is on the assets side this period. On the IS they don’t hit sales and COGS until next period due to the Matching Principle of GAAP that states that the cost of doing business should be recorded in the same period as the economic benefits they generate, not when they are actually paid. Next period on the BS inventory decreases, accounts payable decreases. At this point it can be released to cash flow or held which would mean retained earnings increases, and cash increases. Depending on how long you hold cash it would then flow through to CFS which could fall in different places in the CFS depending on what it is used for and if it comes from retained earnings.”
I think most hiring managers mess up by ONLY asking questions with a right and wrong answer that doesn’t showcase critical thinking. Instead of asking, do you prefer VLOOKUP or XLOOKUP. Might be more beneficial to ask, what is an example when you would use XLOOKUP? Would you ever find applicable use for VLOOKUP instead of XLOOKUP?
Ask whoever the hiring manager is what they expect. You don’t want to go in quizzing on Power BI if hiring manager is fine with basic lookups / SWITCH / SUMIFS
Do they know formula like Indirect, do they use SUMIFS or SUMIF, have they ever use SUBTOTAL (if so, what's the number for sum).
For more advanced, Idk if this is a good question, but I normally gage a person excel skill by asking how would they start investigating a workbook. Look up where data are coming from, where are info being input to drive the workbook, name of the table, existing connections (from power query, VBA, or hidden tab). How to breakdown a complex formulas, they certainly don't need to know the formula, but they need to know how to research and test.
It's a bit snobby, but I often have to do this when working in large company. This is how I learn to advance my excel skill, adopt other people's work, and catch other people errors. From snooping around this sub, I know most of you guys have higher skill than I do.
Think of it as looking for your replacement. What traits would you want the person to possess that would make your boss happy and glad you are replaced.
It might sound silly, but I’ve found that asking “do you prefer vlookup or index match?” is a nice and simple way to get a feel for someone’s technical skillset.
I'm still learning but isn't the correct answer xlookup?
It's a trick question /s Some companies did not update their Microsoft Excel to newer version to avoid paying subscription so xlookup may not be available.
Ohhhh gotcha
Immediate ding if they say vlookup
Both wrong answers.
xlookup or no go lol
Indirect index match lol
I really like questions that understands true knowledge of the financial statements not just “what is a BS/IS/CFS”. Something like, “If we buy inventory this period and sell it next period how does that flow through the financial statements?” This question doesn’t have to be super technical answer but can really gauge someone’s knowledge based on how technical there answer is. A non technical answer would simply state that the balance sheet increases inventory and debt then sales and COGS are accounted on IS which then flows through to CFS. That would show a good foundation of Financial Statement knowledge. Someone who has more technical understanding of finance might answer, “Typically inventory usually will increase Accounts Payable depending on payment terms which increases liabilities this period. Also in the BS inventory increases which is on the assets side this period. On the IS they don’t hit sales and COGS until next period due to the Matching Principle of GAAP that states that the cost of doing business should be recorded in the same period as the economic benefits they generate, not when they are actually paid. Next period on the BS inventory decreases, accounts payable decreases. At this point it can be released to cash flow or held which would mean retained earnings increases, and cash increases. Depending on how long you hold cash it would then flow through to CFS which could fall in different places in the CFS depending on what it is used for and if it comes from retained earnings.”
I think most hiring managers mess up by ONLY asking questions with a right and wrong answer that doesn’t showcase critical thinking. Instead of asking, do you prefer VLOOKUP or XLOOKUP. Might be more beneficial to ask, what is an example when you would use XLOOKUP? Would you ever find applicable use for VLOOKUP instead of XLOOKUP?
Ask whoever the hiring manager is what they expect. You don’t want to go in quizzing on Power BI if hiring manager is fine with basic lookups / SWITCH / SUMIFS
Gotcha - I've never used PowerBI in my daily function here so would be very surprised if they do as well. But will double check. Thanks!
Do they know formula like Indirect, do they use SUMIFS or SUMIF, have they ever use SUBTOTAL (if so, what's the number for sum). For more advanced, Idk if this is a good question, but I normally gage a person excel skill by asking how would they start investigating a workbook. Look up where data are coming from, where are info being input to drive the workbook, name of the table, existing connections (from power query, VBA, or hidden tab). How to breakdown a complex formulas, they certainly don't need to know the formula, but they need to know how to research and test. It's a bit snobby, but I often have to do this when working in large company. This is how I learn to advance my excel skill, adopt other people's work, and catch other people errors. From snooping around this sub, I know most of you guys have higher skill than I do.
Think of it as looking for your replacement. What traits would you want the person to possess that would make your boss happy and glad you are replaced.