Financial accounting is an evergreen field and can be a good career option. Accounting is an integral part of any organization; they usually hire someone with good knowledge in the area. It is popularly known as the language of business and is core to the growth of an organization.
For an accounting job, Interviewers are likely to cover all the basics of accounting and challenging questions. There is a lot of competition in the job market nowadays for the position of accounting, and one needs to be well-prepared.
Here are the Best Accountant Interview Questions
- Why is it easier for someone to perpetrate fraud using a journal entry than with a ledger?
- What is double entry bookkeeping? What are the rules associated with it?
- If a private company with break-even operations received a $10 million investment, how would you develop a strategy to spend or invest that money?
- What is the difference between ‘accounts payable (AP)’ and ‘accounts receivable (AR)’?
- Can you give me an example of how you would explain a complex accounting process or finance data to a staff member?
- Are you familiar with the Accounting Standards? How many accounting standards are there in India?
- By saying, perpetual or periodic inventory system; what do we mean?
- Do you possess any knowledge about accounting standards?
- What do you think is bank reconciliation statement?
- Do you think Accounting Standards are mandatory and why?
What are the accounting events that are frequently involved in compound entries?
Mention what the rules for debit and credit for different accounts to increase the amount in your business accounts are?
Who Governs The Financial Reporting Standard?
What Are The Principal Qualitative Characteristics Of Financial Statements?
What Are The Major Constraints On Relevant And Reliable Financial Statements?
Tell Me Something About Accounting For Goodwill Finance.
What Is Depreciation? List Few Methods Of Providing Depreciation?
Please Tell How You Can Analyze A Balance Sheet Vis-à-vis The Performance Of The Company In The Capital Market? Give Examples With Reference To Some Specific Parameters?
Define Fifo And Lifo. Explain What Effects That Fifo And Lifo Have On The Balance Sheet During A Period Of Rising Prices And During A Period Of Falling Prices?
What Is The Difference Between Financial Accounting And Management Accounting?
Explain Cost Accounting. What Are The Objectives Of Doing It?
What Are The Various Techniques Used To Discharge The Function Of Management Accounting?
What Are The Different Types Of Expenditures Considered For The Purpose Of Accounting?
Explain Deferred Expenditures. How Are These Expenses Dealt With In Profitability Statement?
What Are The Reasons Which Cause Pass Book Of The Bank And Your Bank Book Not Tally?
What Are The Important Things To Be Remembered While Preparing A Bank Reconciliation Statement?
What Steps Would You Take To Locate The Errors In Case Trial Balance Disagrees?
Explain Fixed, Variable And Semi-variable Costs?
What Things Would You Take Into Consideration While Installing A Costing System?
What Problems You May Face While Installing A Costing System?
What Things Would You Take Into Consideration While Installing A Costing System?
What Can Be The Discrepancies In Material Receipt?
What Can Be The Reasons For Bin Card And Stores Ledger Not Getting Reconciled?
What Is The Difference Of Fund Flow Statement And Cash Flow Statement?
What Is Accounting Normalization?
What Does The Abbreviation M Mean In Accounting?
Why Do Users Of Accounting Information Need Accounting Information?
What Are The Items That Are To Be Debited In Accounting And What Are The Items That Are To Be Credited In Accounting?
Is There A Difference Between Accounting For Conversion Of Bonds And Accounting For The Conversion Of Preferred Stock?
Does The Accounting System Appear To Facilitate One Specialty From Financial, Auditing, Or Cost Managerial Or Tax Accounting Over The Others?
What Are The Effects Of International Accounting Standards On Accounting Practices Of Developing Nations?
What Is The Relationship Between Cost Accounting, Financial Accounting And Managerial Accounting?
Describe The Advantages And Disadvantages Of The Different Accounting Packages/ Systems You Have Used Recently In Your Accountant Jobs?
What Software Applications Have Your Used For Accounts Receivable?
What Reports Are Provided To Accounting Dept. From Payroll Every Month? What Reports Are Generate At End Month, Qtr & Year End In Payroll Dept?
What Are The Benefits Achieved By Computerized Payroll System?
After Run Depreciation, I Have Forget Calculate the Depreciation Of One Asset Then How To Calculate the Depreciation Of That Asset?
How Important Does Accounts Receivable For Small Businesses And Why?
Who Is Responsible For Maintaining The Accounts Receivable In An Organization?
How Debtors Play Its Role In Accounts Receivable?
Which Type Of Assets Should Be Capitalized And When Expenses Out? Which Type Of Assets Expense Out Or When?
You Have Been Asked To Prepare A Bill For Services. What Information Should Be Included In The Bill?
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