A person who wants to start a business should first think about choosing a consulting company that can support them. Why? The answer is simple. Every entrepreneur will face many issues that need to be solved. One of the first questions is about the business registration process in Azerbaijan. Questions like “How can I get an ASAN signature?” or “What is an electronic signature?” are also common. These questions can be answered by working with a consulting company, but they do not end there.
Let’s assume the business is registered, the TIN is obtained, and the company seal is ordered. This is still not the end, and not even the real beginning. It is just the first step. Hiring employees, registering employment contracts, opening a bank account, signing agreements — all of these follow.
Even after completing these steps, many important questions remain, such as:
At this point, many entrepreneurs think: “Isn’t there one person who can handle all of this?” Of course, people will suggest hiring an accountant. But can one accountant manage everything at a high level? Even a very skilled professional may struggle to cover accounting, taxation, legal relations, and HR matters equally well. Also, high expertise usually comes with high costs. Does a new entrepreneur always have the budget for that? There is no need to worry. A consulting company can provide high-quality support.
There are many consulting service providers in Baku. However, the purpose here is not to describe them, but to look at a different situation.
Imagine you are the head of a consulting company and you are hiring a manager to lead the accounting services department. You will receive applications from candidates with different levels of experience. How should you structure the interview? Which questions should you focus on? What criteria should you use?
Approaches may vary depending on the services offered and the company’s specifics. Below is an example of a possible interview. It includes 9 common questions collected from different sources. These can help consulting company managers choose the right candidate.
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If you were responsible for organizing accounting services in a consulting company, which areas would you prioritize?
First, I would analyze the accounting environment in the region, the types of businesses, and their needs. I would also consider the company’s use of cloud technologies and online accounting systems. Setting up accounting for new businesses and managing accounting for small and medium enterprises would be key priorities. For larger companies, we could offer accounting administration services and take over routine work, allowing their accountants to focus on analysis. Services such as business registration, bank account opening, and tax and accounting consulting should also be included. Clients may also ask questions like “Who is an auditor?” or “What is HR accounting?” Using modern tools like online accounting software helps improve service speed and efficiency.
How would you solve problems for clients who have no accounting knowledge?
An accounting manager should be able to explain complex concepts in a simple way. Most clients do not have an accounting background, so terms related to tax and accounting can be confusing. For them, understanding basic questions like “What are tax reports?” is very important. I would explain processes in clear language, using simple examples. Building trust through clear communication is key.
Why is accounting important, and how would you explain this to clients?
Accounting is essential for decision-making, managing finances, and business growth. Financial records and reports help stakeholders understand the company’s performance. Proper accounting helps track profitability, ensure compliance, maintain good client relationships, and avoid legal issues. Consulting services should be built around these benefits.
What is the difference between Accounts Payable (AP) and Accounts Receivable (AR)?
Accounts Payable are amounts owed to suppliers for goods or services received with deferred payment. Accounts Receivable are amounts the company expects to collect from customers after providing goods or services. Receivables are assets, while payables are liabilities.
What is the difference between Accounts Receivable and deferred revenue?
Accounts Receivable are payments to be received for goods or services already delivered. Deferred revenue is money received in advance for goods or services not yet provided. A consulting company should provide clients with clear and timely information about their receivables.
Which financial statement would you use for a quick overview of a company’s condition?
The cash flow statement shows how money moves through a company. However, to fully understand a company’s financial health, you need to review three statements: the cash flow statement, the balance sheet, and the income statement. Consulting companies should have specialists who can analyze all of them.
Have you used any accounting software?
Yes, I have worked with different accounting systems such as “1C”, “Günəş”, and Hesabat. If the consulting company has its own system, I can adapt to it quickly.
How will automation and artificial intelligence affect accounting?
Automation and AI can significantly simplify accounting processes, especially repetitive tasks. They reduce workload, minimize errors, and allow accountants to focus on more analytical and decision-making tasks. This increases efficiency and productivity.
How can you ensure the reliability of accounting data?
Reliability can be verified through inventory checks that confirm the company’s assets and liabilities. In addition, audit procedures can be conducted to ensure the accuracy of financial statements.
If a recent graduate applies for an internship, what questions would you ask first?
They should understand the basics of accounting. I would ask questions like: What is accounting? What is the difference between financial and accounting concepts? How are accounting rules regulated? What are tax reports? They should also know what HR accounting is and understand the difference between audit and inspection. These are key areas that clients care about when choosing a consulting company.
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