Accounting Interview Questions

 
1.
Why do you want to be an accountant?
2.
Why did you choose the A-levels you did?
3.
Were you happy with the grades you achieved at A-level?
4.
How did you chose your university?
5.
What qualities have you got that would make you a good accountant?
6.
Why have you applied to our firm?
7.
What have you read in the newspapers in the last few days that particularly interested you?
8.
What other careers are you considering?
9.
Tell me about a situation where you showed determination?
10.
What is your greatest achievement and why?
11.
Are there any questions you would like to ask?
12.
How many invoices on average do you handle on a weekly/monthly basis?
13.
What are the steps to take before you approve an invoice for payment?
14.
What information do you require before you approve an invoice for payment?
15.
Tell me about an invoice discrepancy you discovered and how you resolved it.
16.
Have you ever been involved in an invoice dispute? How did you manage the problem?
17.
Explain the accounts payable cycle.
18.
What accounts payable applications are your familiar with?
19.
Detail your responsibilities in accounts receivable.
20.
What role did you play in collections?
21.
What software applications have your used for accounts receivable?
22.
What information is included in a bill for services?
23.
What was your average accounts receivable days outstanding/days sales outstanding?
24.
What are the most important goals of accounts receivable?
25.
Which accounting applications are your familiar with?
26.
Describe the advantages and disadvantages of the different accounting packages/systems you have used recently in your accountant jobs.
27.
Give me examples of the accounting reports you have prepared.
28.
Describe any accounting process that you have developed or revised.
29.
What do you consider to be the biggest challenge facing the accounting profession today?
30.
Other accounting interview questions to expect when you interview for an accountancy job include:
31.
What is the relationship between cost accounting financial accounting and managerial accounting?
32.
What is the difference between cost accounting management accounting and financial accounting?
33.
Where the financial accounting fails the cost accounting for is rescue but still there are some limitations deficiencies in the system?
34.
What are the effects of international accounting standards on accounting practices of developing nations?
35.
Does the accounting system appear to facilitate one specialty from financial, auditing, or cost managerial or tax accounting over the others?
36.
What is the difference of Cost Accounting and Financial Accounting?
37.
What is the distinction between cost accounting and management accounting?
38.
What is the difference between financial accounting and management accounting?
39.
What is the difference between the accrual accounting and cash accounting?
40.
When a company s accounting year-ends on a day that is other than the end of the calendar year what is called in accounting?
41.
Is there a difference between accounting for conversion of bonds and accounting for the conversion of preferred stock?
42.
Is push down accounting accepted under generally accepted accounting standards?
43.
Key Difference between Indian accounting standards and international accounting standards is..
44.
What are the items that are to be debited in accounting and what are the items that are to be credited in accounting?
45.
Is an "account receivable" and "goodwill" real accounts in accounting?
46.
Why do users of accounting Information need accounting information?
47.
What is an EA in accounting?
48.
What is accounting?
49.
Who uses accounting?
50.
What is account in accounting?
51.
What are the different branches of accounting?
52.
Is financial accounting necessary?
53.
What is fair value accounting?
54.
What are accounting principles?
55.
What is fiduciary accounting?
56.
What are the uses of journal in accounting?
57.
What does overhead mean in regards to accounting?
58.
What are accounting entities?
59.
What is an accounting transaction?
60.
What is accounting ethics?
61.
What does the abbreviation dr mean in accounting?
62.
What does the abbreviation m mean in accounting?
63.
What is computerized accounting?
64.
What is normative accounting?
65.
What is accounting normalization?
66.
Why are Accounting Standards necessary?
67.
What is Use of statistics in accounting?
68.
What are the 4 phases accounting?
69.
What is accounting management?
70.
What is a ledger in regards to accounting?
71.
What is creative accounting?
72.
What are the functions of accounting?
73.
What is accounting transaction?
74.
What are the different branches of accounting ?
75.
What are the different fields of accounting?
76.
What is an accounting loss?
77.
What is Executive Accounting?
78.
What is accrual accounting?
79.
What is accounting period?
80.
What are the nine accounting cycles?
81.
What is Control in Accounting?
82.
What is partnership accounting?
83.
What is the definition of accounting?
84.
What is DD and A in oil and gas accounting?
85.
What is the Importance of accounting standards?
86.
Who is considered the father of accounting?
87.
Explain Accounting 101?
88.
How is an accounting department structured?
89.
What is the meaning of Scrap Value in accounting?
90.
What are the differences between accounting and auditing?
91.
Who created SnapIt accounting?
92.
What is accounting chart of accounts?
93.
What is the difference in Accounting and Marketing and what is so different about them?
94.
What is peach tree accounting?
95.
What are accounting rules called?
96.
What is an interlocking accounting system?
97.
What is accounting for plant assets?
98.
What are the basic assumptions in accounting?
99.
What are Source documents in accounting?
100.
What is mutual fund sub accounting?
101.
What is Purchase returns Accounting.
102.
What is the difference between accounting and bookkeeping?
103.
What are the disadvantages of manual accounting?
104.
How many accounting standards are currently published?
105.
What is the basic accounting equation?
106.
What are the elements of the accounting equation?
107.
In which ways is math used in accounting
108.
What are the limitations of accounting ratios?
109.
What qualification do you need to become an accounting professional?
110.
Definition of push down accounting
111.
What are cost accounting and its applications?
112.
What is meant by public accounting?
113.
Define Tally Accounting
114.
Why are accounting firms needed?
115.
Why does the accounting equation have to balance?
116.
Contrast bookkeeping and accounting
117.
Why Accounting is important in business?
118.
What do you mean by material facts in accounting?
119.
What is the definition of manual accounting?
120.
How does accounting contribute to the community?
121.
What is the definition of offset accounting?
122.
Accounting for VC money in financials
123.
What is the relationship between bookkeeping and accounting?
124.
Explain the concept of responsibility accounting
125.
What is a difference between public and private accounting?
126.
What is definition of a cash float in accounting?
127.
What is the important of computerized accounting to manual?
128.
Define social responsibility accounting
129.
What are the disadvantages of back-flush accounting?
130.
Discuss the consistency concept in accounting
131.
What is a register when referring to accounting or bookkeeping?
132.
What are the Accounting entries for branch accounts?
133.
What does the word credit mean in terms of accounting?
134.
What does it mean to do accounting training outside of public practice?
135.
In accounting, are assets a permanent account?
136.
Define "book value" as applied to accounting
137.
In terms of accounting the trial balance when is it taken?
138.
What is marginal cost?
139.
What steps would you take before approving an invoice for payment?
140.
What is meaning of invoice?
141.
What procedure for excess payment to supplier I would like know without adjusting invoice that means how supplier will send back excess amount how do in oracle apps?
142.
What is the difference between Consigner and Consignee?
143.
What is FBT (Fringe Benefit Tax)?
144.
If assume we paid 50/- as an advance for worth or 100/- goods, but our supplier sent only up to 25/- worth of goods. Know my question is that we want to close the transaction now and how it possible? What about VAT like Tax Setups in AP and AR? What about the SWEEP command in AP?
145.
What are premises in accounting sense? What is VAT adjustment?
146.
What is the Provision? What is the Entry for Provision?
147.
What are the advantages of Computer accounting over Paper accounting?
148.
How to prepare finalization accounts?
149.
What is Departmental Accounting? Give an example
150.
What is Service Tax & Excise? How will it be charged?
151.
What is Capital Budget?
152.
What is purchasing order?
153.
What is vendor?
154.
What is SLA?
155.
What is debit and credit note?
156.
What is the difference between Accounts and Finance?
157.
What is the dual aspect concept?
158.
What is depreciation and how many types are there. Please give details?
159.
What is cash flow and fund flow?
160.
What is capital gain?
161.
What are bills receivable?
162.
What is deferred account?
163.
What are MIS reports and do you prepare it?
164.
What is your role in planning?
165.
How can you do credit control?
166.
What is bank reconciliation statement?
167.
What are the functions of manger -accounts and manager-finance? Explain in detail.
168.
What are the extraordinary items?
169.
What are the fictitious assets?
170.
What are the Steps involved in Project implementation?
171.
What are time sheets? How are they maintained?
172.
What is mean by Working Capital?
173.
What is shadow balance?
174.
What is meant by balancing?
175.
What is the difference between inactive accounts and dormant account?
176.
What is meant by turnover?
177.
What is meant by calendar maintenance?
178.
What is meant by daily accrual and booking?
179.
What is an operative accounts?
180.
What is balance sheet and off balance sheet?
181.
What is customer account?
182.
What is retail banking?
183.
What is inventory management?
184.
What is the difference between personal account real account and nominal account?
185.
What is meant by partitioning?
186.
What are trade bills?
187.
What is double entry book keeping?
188.
What is dividend warrants?
189.
What is Letter of Credit?
190.
What are the four classifications of Bad and Doubtful Debts as per the context of the Bank?
191.
What is a Comprehensive Income?
192.
What is the difference between Perpetual and Periodic Inventory systems?
193.
What is the difference between provision and reverse?
194.
What is an adjusting journal entry?
195.
What is Contingent Liabilities?
196.
What is service tax?
197.
Can I take service tax on freight outward?
198.
What are the golden rules of accounting?
199.
What is the TDS effect in balance sheet if TDS receipts?
200.
Where should TDS received should show in balance sheet?