9 Commonly Asked Accounting Interview Questions with Answers

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Are you an accountant looking to grab a job at the company of your choice? If yes, you must be prepared to go through various stages such as looking for a perfect job opportunity, tailoring your accounting CV [sample] according to the job description, and preparing to answer accounting job interview questions.

By accounting interview question, we do not simply mean generic but also technical accounting interview questions. Nonetheless, it is always a good idea to be prepared to answer certain generic interview questions like:

  Tell me about yourself

  Why should we hire you?

  What are your weaknesses?

  What’s your greatest strength?

  What has been your greatest achievement?

  Where do you see yourself in five years?

 

Once you have prepared to answer the generic interview questions, ensure to brush up some accounting concepts and topics. Whether you are applying for an account executive, account assistant or an accountant job, you should be prepared with questions that relate strictly to accounting or finance. Here are some interview questions you should be prepared:

Accounting Interview Questions and Answers

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Common Accounting Interview Questions

 

Q1. Do you have the knowledge of basic accounting standards?

When questioned, you should frame your answer in two parts. The first part of the answer should tell the interviewer about your knowledge of accounting standards such as Generally Accepted Accounting Principles (GAAP). Next, you should go into the depth of the standards and narrate how you use these in your job profile and how do you stay up to date.

 

Q2. What knowledge do you have about [any specific accounting concept]?

Avoid saying the word “No”, even if you have no idea about the specific thing the interviewer has asked you about. You can simply say that you are excited to grab this opportunity to learn about the concept.

Alternatively, you might tell them that you have limited experience in regards to the specific concept the interviewer is asking but have ample experience in some other area and start talking about it. Do not give them a reason not to get you onboard.

If you are interested in the role, your passion can make up for some skill gaps. Even if you have only 8 out of 10 skills, you are still employable.

Also, pick out elements from your previous role that relate tangentially to overcome what is missing from your profile.

 

Q3. Which method do you use to estimate bad debt?

This question can start an open conversation about the ways you have approached to estimate bad debt with previous employers. Frame your answer in a way that reveals your understanding of the methods used or the company you are interviewing with uses.

 

Q4. Did you serve any significant role in month-end processes?

One of the important pieces to prepare when preparing for an accounting interview is being able to communicate your functionality and specifications related to end of the moth processes in an organization. You can use this interview question, to talk about important bullet points in your CV or job cover letter highlighting the accomplishments in the accounting field.

 

Q5. Can you share an example of the time when you were proactive and took the lead?

When you are interviewing for an accountant or related position, interviewer expects you to have the foresight to address issues that can arise before any situation became out of control. When asked such a question, mention recommendations by you and processes and procedures implemented in a certain type of situation. Think of a story from your experience that proves that you have done your job proactively by taking initiatives.

Especially if you are interviewing for managerial level and up, you should be thoroughly prepared with one or more stories like this.

 

Q6. Describe a situation where you were able to reduce costs.

Your answer to this accounting interview question should particularly revolve around your duties as an accountant. Share real-life examples to describe a time when have you been able to go beyond and identify solutions for the organization.

 

Q7.  What types of audits does your role require you to do?

Read the job description and the required type of audits for this role. If you have them in your experience bag, go ahead and list them. If not then try to relate the ones that have a little connection to the one listed in the job description.

 

Q8.  How do you minimize the risks in your work?

As a professional in the accounting field, you should be highly skilled and maintain high standards of efficiency as even small errors can lead to large financial issues.

You can answer the question by stating about the times when you have identified errors and emphasize the importance of checking and balancing with the teams.

 

Q9.  In terms of culture, what environment would you want to see yourself succeed in?

Some employers want a team player while others want someone who is self-motivated. Study the role, the company culture and if possible speak to someone working in the organization about the environment. Once you know what it like is to work in the company, you will be able to fit yourself in the company and comfortably answer this interview question.

Apart from preparing the above interview questions, you can also take accounting tests for interview preparations. Hope the tips shared in this article will help you prepare well for your accounting job interview. You can find more interview tips here:

 

Most Popular Banking, Accounting & Finance Interview Questions & Answers

7 Popular Interview Questions & Answers for Freshers

15 Most Common Interview Questions for Freshers

 

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Categories: Interview Tips

About Megha Raizada

Megha Raizada is a professional writer with a keen interest in the global job market. She loves to keep a track of everything interesting happening around the globe. When not writing or browsing the Internet, you will find her creating furniture out of used tires.

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