Accountant Job interview Questions And Answers

Here, I would explain how to crack interview, Basic Accounting Interview Questions and Accountant Job interview Questions And Answers. Please go through all things which i explain, it will be easy for crack interview.

accountant job interview questions and answers

Accountant Job interview Questions And Answers / Basic Accounting Interview Questions :

Before You going to Accountant interview please go through below article.

1. Know the company

Take the time to research the mission, vision and financial status of the organization, you are hoping to join. With the availability of the internet today it is relatively easy to find articles, press release, and financials on the company. Make sure you are prepared for question around the organizations goals and challenges of the company and prepare Accountant Job interview Questions and Answers.

2. Know the Job : 

Make sure you have a through understanding of the skill and behaviors they will be exploring during the interview. In a typical accounting interview you can expect some of the following behaviors to be explored : Financial acumen analysis, problem solving skills, resourcefulness, and ability to work as measurement of a team or lead a team, the communication skills and flexibility.

3. Mock interview :

Practice a mock interview with Accountant Job interview Questions and Answers and get some feedback on your interview skills. Its always best to do this with a professional interview coach who can give you on the spot feedback about what you are doing that is working and techniques to improvement any areas of weakness.

Family or Friends can also help and some practices is better than none.

4. Fail to prepare, prepare to fail :

As an accountant you know all to well the important of planning ahead. Make sure prepare all the documentation and before interview must prepare Accountant Job interview Questions and Answers you will need to being in advance. i.e copy of your resume copy of the description and any company information you have researched.

Being late for an interview is a classic interview blunder, it says that your disorganized and not really that keen on the job, this is not how you wants to start your next job interview. The make sure you know how to find to the interview, if possible visiting the company in advance and know the transport links.

5. Know your Career Goals :

At some pints in your accounting interview expect to be asked question related to your career goals and prepare Accountant Job interview Questions and Answers . The make sure that you are very clear on why you need the position. Be able to talk particularly about what fascinated you to that particular company and why it is the reasonable next step in your career.

Mention your importance and focus on continuous professional growth. This will not only demonstrate you are focused and goal oriented, but that you are a self motivated individual with aspiration to stay and develop with their company long term.

6. Show case your Experience in a professional Manner :

Take the tie before the interview, to write out success stories to pivotal moments in yours career history that you are most proud of. During this will make them easy to recollect when called to do so during the interview and prepare Accountant Job interview Questions and Answers.

7. Be prepare to Talk about Your Strength and qualification:

It is very common in the accounting interview to be asked question related to your qualification in advance of the day review your qualification and write out specifically why the make you valuable asset.

In addition do a complete inventory of your strength ; you should aim for 8-10 personal selling points strongly related to the job.  These types of question provide opportunity to shine at your best, so be prepared and must prepare Accountant Job interview Questions and Answers .

8. Demonstrate Enthusiasm :

Do not be afraid to show your enthusiasm at the potential of a new opportunity. Excitement is contagious; showing you are genuinely motivated for the position will create a connection between you and the interviewer, we all warm to people who are positive and enthusiastic.

At the  time, it is main to not downplay your present position. You be able to let the interviewer know that you are looking for a position that will allow you more development and chance.

9. Prepare interview Question to ask

Prepare Accountant Job interview Questions and Answers : It is common courtesy to be invited to ask question at the end of the interview. This is an acknowledgment by the interviewer that the interview is a two-way information gathering process, so it is important to have question of your own.

Stick to question that give you insight into the company, particularly goals and objectives. If you get inside knowledge about what the company wants to achieve and called back for second interview, you can align yourself with this automatically be seen as a good fit for their needs.

10. Write a Thank You letter (very important) :

accountant job interview questions and answers

Write your interview thank you letter immediately following your interview. Writing a thank you note achieves two things, first it makes you stand out form the crowd as very few candidates will bother to do this and secondly, it is another chance to reminding the interviewer why you are the perfect candidate for the position.

When writing your thank you note, reflect back the conversation you had about a particular organization challenge that you have the answer to, this remind the interviewer that you are an important person who is possible to be a explanation oriented individual and  asset to their company.

A huge confidence booster going into your accounting interview is knowing that you are fully prepared to answer even the toughest interview question on the day. If you follow the tips and rehearse some practice question in advance you will have and excellent chance to prove yourself during the interview.

Just remember : your goal is to understand the company and show them the value of your experience, qualification and motivational for the position.

Basic Accounting Interview Questions / Accountant job interview questions and answers

Accountant Job interview Questions and Answers : A review of the typical Accountant interview question, likely to come up, is a vital part of the through preparation required to shine at your accounting interview.

A prepared candidate with a solid and proven background is more likely to land the position than a equally qualified candidate who has not taken the time to review typical interview question and prepare answer related to their professional accountant background.

Have a go at developing your own answer to the following question :

Past Experience in Accounting :

Question 1 : What has your relevant accounting experience been in past?

Question 2 : Is there anything that you would define a special skill, unique to you?

Question 3 : Why did you decide to enter the field of accounting?

Question 4 : What are the training and certification you have in accounting?

Question 5 : Describe your career highlight in accounting?

Preparing Management Reports :

Question 1 : Do you have experience in preparing accounting reports for management?

Question 2 : What do you think the primary focus should be on accounting management reports?

Question 3 : What accounting management reports systems have you used in the past?

Involvement in the Budgeting Process

Question 1 : Describe you previous experience and the duties you carried out in the budgeting process?

Question 2 : Describe how you would go about preparing a complete budget for accounting proposes?

Accounts Payable

Question 1 : What is your understanding of accounts payable?

Question 2 : What is your understand of liabilities?

Question 3 : What involving experienced do you have?

Question 4 : What information would you seek to possess before you process an invoice?

Question 5 : What is the maximum number of invoice you have handled in week?

Accounting Package like Quickbook.

Question 1 : Describe the accounting packages you are most familiar with?

Question 2 : What accounting packages would you describe yourself as expert in?

Accountant Job interview Questions and Answers :

Question 1 : What are the rules you go through to checking your accounting work before submit it? Give an example for this :

Interview logic

Your role an accountant may involve; analyzing data ensure compliance, interpreting and evaluating result and preparing financial reports and other related documentation. Therefore your attention to details is critical in accounting. The interviewer wants to see the system you have in place for checking the accuracy of your work.

Answer

Demonstrate that you are both through and efficient in how you approach your work. Show that you habitually check your work and are aware of the specific areas that should always be reevaluation for accuracy.

Question 2 : Describe a time when you implemented a change in accounting protocol or procedure that provided commercial benefits to the organization you were working in?

Interviewer logic

Are you someone who is going to be part of the solution or part of the problem? further do you take the initiative to seek out and apply process enhancement, without essentially being directed to do ?

Answer

You answer should be thoughtful for this question. Describe an occasion where you designed and implemented specific accounting procedure/system which were more efficient and resulted in significant process improvement or saving for the company. Show that these changes were based on best practice accounting principles and were thoroughly researched in advanced.

Question 3 : Describe a changes project that resulted in better efficiencies for the company that you champion? How did you use your financial skills to make key decision? What was the outcome?

Interviewer logic

The interviewer is exploring how well you use your skills and financial know – how to help inform strategic decision.

Answer

This is an excellent opportunity to demonstrate that you have the ability to analyze complex financial statement and make a risk assessment, implement a more effective system or make suggestion for development that will make efficiencies for the company.

Hot tips for Accountant Job interview Questions and Answers :

Accountant Job interview Questions and Answers : Show that you thoroughly analyzed the financial statement and current processes before suggesting adjustment. Remember, the interviewer is assessing your research ability, ability to work with complex data and your ability to break down complex information in a way that can be easily understood and used to inform strategic decisions.

Accountant job interview questions and answers

Accountant Job interview Questions and Answers / Basic Accounting Interview Questions :

Question 1 : Clarify each real account and nominal account with example.

Answers :

Real account is an account of assets and liability.

Types of Real Account:

  • Land Account
  • Furniture Account
  • Machinery Account
  • Building Account
  • Goodwill Account
  • Patents and Trademarks account.

Nominal Account :  is an account of income or expenses.

Types of nominal account.

  • Salary Account.
  • Commission paid/Received Account.
  • Telephone Expenses Account
  • Wages Account
  • Printing and stationery Account
  • Interest Paid/Received Account

Question 2 : What are the accounting concepts?

Answer

Accounting concepts are the basic assumption on which the process of accounting is based.

Following are the accounting concepts:

  • Business Entity concept
  • Dual Aspect Concept
  • Going Concern Concept
  • Accounting Period Concept
  • Cost Concept
  • Money Measurement Concept

Please go through what is Accounting and Accounting cycle.

Question 3 : What is owner equity ? How will you calculate it?

Answer

Owner equity, also known as capital of the business is the claim of the owner of he business against the assets of the business. Owners equity is calculated by subtract equity of creditors from the total equity.

Question 4 : What is double entry bookkeeping? What are the rules?

Answer

Double entry bookkeeping follow the standard according to which every debits has a matching credit; hence total of all debits is for all time equal to the total of every credits. In this way, single account is debited and at the same instant in time another account is credited by the same amount.

Following are the rules for different account.

  • Personal Accounts:  The Debit receiver, the credit  giver.
  • Real Account:  The Debit what comes in, the credit what goes out.
  • Nominal Account: the debit all the expenses, a credit all the incomes.

Please go through Golden Rules of accounting.

Question 4 : What is bank reconciliation statement? What are the steps to prepare it?

Answer

Bank Reconciliation Statement is a statement prepared at periodical intervals, with a view to indicated the items which cause disagreement between the balance as per the bank columns of the cash book or the bank pass book on some particular date.

Follows the under step to prepare a bank reconciliation statement :

  • Get the balance both as per cash book or as per pass book as a starts point.
  • Match up to the items appear in the bank column of the cash book with the item appear in the bank pass book.
  • Tick off the entries in the pass book with the entry in the cash book. A listing of unticked items also in cash book or pass book will found.
  • Add or deduct items from the balance which has been taken as a starting point.
  • The result numbers will the balance as shown by the pass book or vice versa.

Question 5 : What are the reason for the difference in the balance as shown by the cash book and pass book?

Answer

  • Cheque deposited into the bank but not yet collected and credited.
  • Cheque has been issued but not yet present for payment.
  • Bank Charges.
  • Amounts collect or credited by bank on stand instructions.
  • Amount paid or debit by the bank on standing instructions.
  • Interest credited by bank.
  • Interest debited by bank on overdraft.
  • Direct pay by customer into the bank account.
  • Dishonor of cheques or bills.
  • Error in recording of transaction by either the firm or the bank.

Question 6 : What is the adjustment entries made while preparing the final account form the trial balance?

Answer

  • Closing stock  Depreciation   
  • Outstanding Expenses  
  • Prepaid Expenses  
  • Accrued income (Accrued income to sale, customer to accrued income)
  • Income received in advance  
  • Bad Debits
  • Provision for Doubtful Debts  
  • Provision for Discount on Debtors  
  • Drawings    
  • Abnormal loss due to fire etc
  • Goods distributed as free samples  
  • Goods sent on approval basis
  • Commission payable to the manager.  

Question 7 : What is debit note and credit note? What is the difference between them?

Answer

Debit note is  sent to a person deals with the business that his account is person debit for the reason indicate therein. It is a note complete out with carbon duplicate. The original one  sent to the party to whom the goods are returned and the duplicate copy is kept for office record.

Credit Note : credit note sent to a person deals with the business that his account is being credit for the reason indicate there.

Question 8 : What items are including in profit & loss account?

Answers

  • Salaries
  • Rent
  • Rates and Taxes 
  • Interest 
  • Commission 
  • Trade Expenses 
  • Printing and Stationery 
  • Advertisement
  • The carriage out, freight out, Repairs
  • Travelling expenses 
  • Samples  
  • Depreciation
  • Life insurance premium  
  • Insurance premium 
  • Income tax  
  • Loss or gain on asset sold  
  • Discount received and allowed  
  • Trade discount etc..

Question 8 : Difference between deferred revenue or accounts receivable?

Answers

Deferred revenue represent cash has been received customers for services or goods not yet provided. Accounts receivable represent cash owning form customers for goods or services already provided.

Question 9 : What do you capitalize rather than expense a purchase?

Answer

If the purchasing will used in the business for more than years, it is capitalize and depreciation.

Question 10 : Under what circumstances does goodwill increase?

Answer

A company buy another business for more than the fair price of it is tangible or intangible assets.

Question 11 : How Do You decrease the Risk for Errors in Your Work?

As an accountant, you will be held be a very high standard of excellence, specially since even the smallest error can lead to big financial issues. In response to this question, it is important to discuss the importance of checking your work several times and establishing a system of checks and balances. It also helps to give and example of a time that you caught an error through checking or another method.

Question 12 : What are the common error in accounting? What steps will you follow to locate errors? (complete process to rectify your mistake and present proper reports)

Answer

Following are the common error in accounting

  • Errors of Omission
  • Error of Commission
  • Error of Principle
  • Compensating Error

Please go through what is Accounts Payable and how to make accounts payable journal entry and prepare about balance sheet.

Kindly also be ready for the following Basic Accounting Interview Questions – Accountant job Interview Questions and Answers

Question 1: Tell me, why do you want to become an accountant?

Question 2 : Why would you like to job in our company?

Question 3 : What was the toughest accounts task you solved?

Question 4 : Why should we hire you?

Question 5 : Do you posses knowledge of accounting standards?

Question 6 : How do you make sure you make no mistakes in work?

Question 7 : What characterize a good accountant from your point of view?

Question 8 : Describe a stressful situation in work, and how did you handle the pressure.

Question 9 : Describe a time when you helped to reduce costs at a previous accountant job.

Question 10 : What do you think is goal of an accountant in our company?

Question 11 : What are your strength and weaknesses?

Conclusion : Accountant Job interview Questions and Answers

We have explained about all Accountant Job interview Questions and Answers, I hope you like this kind of accounting knowledge. Please go through all Accountant Job interview Questions and Answer.