Finance and accounting is one such field where the job opportunities will keep on increasing and you will have a tough time facing the competition. With new software and tools that have emerged for such technology, it seems that now employer actually prefers a candidate who can handle accounting at the pace of the technology and thus, give the quick result. Accounting is a profession where the employee needs to summarize the records of money and transactions that has taken place. If you are getting ready for an interview and have no clue how to crack it leaving a great impression on the interviewer, then here are some accounting sample questions and their answers which you can keep in mind.
Can you please tell us more about yourself?
Here, mention about your personal life and hobbies and what all goals and achievements you have made so far in your life pattern. For this question try to answer in more personalize tone.
What educational qualification do you hold?
Here your answer should not only be limited to the education or the graduation degree that you hold but also should be other details and academics that you have achieved like the certificates or the awards that might give you a little push to crack the interview.
What made you select accounting as your profession?
This is one tricky question for which your answer must be frank at the same time impressive. Here you can answer the interviewer stating that how you have been doing pretty good in accounting all this time due to which it made you choose this profession.
Do you hold a professional experience of this field?
Depending on your previous job experience that is relevant to this field, you must answer it confidently in yes or no. At the same time explain them the job role which you played there as an accountant.
Have you worked manually or used some accounting application in your previous companies?
With this question, the interviewer is trying to understand how technically sound you are. It is always better to describe about your working profile in the simple and easy manner. If you have used AME Accounting software or advanced business solutions then it is certainly an advantage.
Do you know the names of accounting application?
You must study about this question before you go for the interview. You can answer some of the known names like Microsoft Accounting Professional, CGram Software, Microsoft Dynamics AX, and Financial Force to name a few.
Which type of accounting application do you prefer and why?
Here your answer needs to be quick and confident as the interviewer is simply trying to check if you have worked well enough on some kind of application. Generally people have worked on Microsoft Accounting Professional as it is the most reliable and improves the profit rate too.
Do you know the abbreviation for the accounting terms debit and credit?
This is the simplest question that every accountant knows. It is simply to check your general knowledge about accounting. The answer is of course “dr” for debt and “cr” for credit.
Do you know the number of business transaction in accounting?
This is yet another simple question for which you simply have to give two names that is capital and revenue. It is just to check how well you are aware about in and out of accounting.
Can you explain about balance sheet?
Being one of the most crucial part of accounting, if you can’t answer this question you will be rejected. Hence, answer wisely stating that it is a statement which determines the assets and liability of the company at a certain time span.
Do you know about TDS?
You answer for this must be crisp and simple. The full for of TDS is Tax Deduction at Source which can be seen right after the head current assent in the balance sheet.
Will you flexible to learn new tools and techniques associated with accounting?
With this question, the interviewer is simply trying to understand whether you can easily fit in the changing working environment and is ready to upgrade yourself with more better and new knowledge.
What do you know about the Excise and service?
These two terms are other popular ones that are used in Accounting. It is more like a hidden tax which is included in the services that a service provider offers and is certainly paid by the one who receives the service.
Please explain the difference between dormant and inactive accounts?
These are two different terms that are important in accounting. Inactive account is certainly the account which is no more in use and will not be used in future as well. Dormant account is the one which is not in use currently but can be used in future.
Can you explain about tally accounting?
This is the current part of accounting which every accountant must e aware of and knows how to use it. It is used for accounting in small business and at the places where shops needs to manage the accounting transaction.
Can you tell us about departmental accounting?
This is another important type of accounting in which departments have got separate accounts. These accounts are managed separately and are shown independently in the balance sheet.
Explain more about fictitious assets?
Such type of assets is the ones which you cannot touch or see it. Goodwill and rights are some of the assets that can only be felt.
Do you know about the inventory system?
Inventory system fall under two categories. Perpetual inventory system is adjusted depending on the continual basis where as the name periodic inventory system itself states that the accounts are adjusted periodically.
Can you give fine example of real account?
Land, furniture, Patent, machinery and building accounts are some of the example of real accounts. With this question the interviewer wants to know how well you are aware about such type of accounts.
What are the accounting concepts?
This is the basic but the most important question for which you need to be prepared of very well. This concept is the bunch of all the basic assumptions on which the accounting process depends. Business Entity, Going Concern, Cost Concept, Accounting Period, Matching Concept to name a few are examples of the same.
Can you explain about the team work?
There are situations where you need to work in the team. At such time you might have to be down to earth and flexible. The interviewer will try to judge you on the same depending upon your option about it.