Welcome to Fasthire– the job board for young professionals. In this post, we’re going to give you the 22 most asked accountant interview questions. The list was put together after a series of research on the most frequently asked accountant interview questions. If you need any assistance preparing for your interview, reach out to us via any of our channels and we would be quick to assist you.
What are the Most Asked Accountant Interview Questions?
Regardless of the organization or company you want to join as an accountant, you’ll find this list helpful. However, understand that some of these questions may be rephrased by an interviewer.
The answers given here are not to be crammed, they’re meant to show you how to compose your answers. Your work is to study these questions, develop your answers to them, and then practice them like you were in a live interview. When you’re sure of yourself and the fluency of your answers, then you can tackle any question on the interview day.
How to Prepare For Your Accountant Interview?
1. Know your why: Know why you want to work as an accountant, know why you want to work for the organization.
2. Research: Arm yourself with knowledge about the company, their vision, history, and future (what they’re planning to do).
3. Brush up on your basics: Refresh your memory on basic accounting
4. Plan stories: You may receive questions that will require you to narrate experiences you’ve had during your career, you should practice some of those popular questions and develop a story that you can tell when asked.
5. Arrive early
6. Observe interview etiquettes
7. Demonstrate your value: Ensure you convince the interviewers that hiring you will be a good decision and not hiring you will be their loss.
8. Practice: Use this list of most asked accountant interview questions to conduct mock interviews for yourself and check your performance. You can use the help of a family member, friend, or contact an interview coach to conduct the mock for you.
Most Asked Accountant Interview Questions and Answers
1. Why do you want to be an accountant?
“The role of an accountant is very important to the growth of an organization and comes with high demands. I want to work as an accountant for two reasons. Firstly, I possess the skills and desire that’ll enable me excel as an accountant. Secondly, I want to utilize my skills to promote resourcefulness and accountability in this organization.”
2. Why should we hire you for this role?
“You should hire me for this role because I am very committed, and I give my best to execute tasks regardless of the surrounding situations. More so, I meet the requirements for this role including effective use of ABC accounting software, a minimum of 2 years in an accounting role…”
3. Why do you want to work for us as an accountant?
“While I was carrying out my research for this job, I discovered that your company is committed to staff growth, and I feel this organization will provide me with the motivation for constant improvement.”
4. What experience do you have that would apply to this accountant role?
“The experience and competencies I have gained so far can be allocated to three main areas. Firstly I have experience working with small and medium scale businesses. Secondly, I have experience working under tight deadlines. Finally, I have experience in managing multiple accounts and clients.”
5. How do you handle pressure?
“Truthfully, I try my best to always reduce the level of pressure I receive at work. Hence, I handle pressure by drawing up a list of tasks that needs to be completed and by which time scale. Then work the necessary hours to ensure that the jobs are completed on time. Even if it requires me to work from home so I can get some of the pressure off my neck.”
6. What do you expect to be doing on a day to day basis as an accountant?
Tip: The best way to answer this question is to know the duties stated in the job advert.
7. What are the different types of financial statements?
- Balance sheet
- Income statement
- Cash flow statement
- Equity statement
8. What is working capital?
“Working capital is gotten when you subtract the current liabilities from the current assets. It’s the capital a business uses to run day-to-day operations.”
9. What are the different types of business transactions in accounting?
- Cash transactions
- Credit transactions
- Non-cash transactions
10. What is the difference between deferred revenue and accounts receivable?
“Deferred revenue is the cash received from customers for services or goods not yet delivered. Whereas accounts receivable is payment for products or services that are already sold/delivered to customers.”
11. What’s the difference between a tangible real account and an intangible real account?
The tangible real account is those assets that can be touched and have a physical existence e.g. Machinery, vehicles, buildings, etc. Meanwhile, the intangible real account consists of assets with monetary values but can’t be touched e.g. Goodwill, Patents, Copyrights, etc.
12. What’s the difference between an inactive account and a dormant account?
“An inactive account is closed and won’t be used in the future. But, a dormant account is an account that is not currently functional but may be used in the future.”
13. What is a differed tax liability?
“Deferred tax liability shows that a company may pay more tax in the future due to current transactions.”
14. What accounting platform do you have experience in?
QuickBooks, Microsoft Dynamic GP, etc. (You can also state your favourite or most used and why).
15. What are some common accounting errors you know?
- Error of omission
- Commission errors
- Error of original entry
- Error of accounting principle
- Compensating error
- Error of entry reversal
- Duplication error
More Accountant Interview Questions
- What are your strengths?
- What are your weaknesses?
- When have you worked with others to accomplish a difficult task?
- Where do you see yourself in 5 years?
- Give an example of a time when you worked with a difficult client?
- Which accounting platform have you worked on?
- How do you maintain accounting accuracy?
Accountant Interview Questions to Ask Interviewers
It’s always advisable to prepare some questions that you can ask your interviewer(s). Your question(s) can indicate your seriousness for the job and/or your commitment to stay with the company for a long term.
Here are some example of accountant interview questions to ask interviewers;
- What target is your company planning to meet in the next 3-5 years?
- If I’m successful, what would you like me to concentrate on in my first few months?
- What accounting applications do I need to master to be effective in this role?
- What areas are you looking to see improvements in your accounting department?
Accountant Interview Preparation Tips
- Your first assignment in an interview is not to show that you can answer questions, or that you’re an expert. Your first assignment is to show that you’re can be trusted to promote the organization’s vision.
- If you miss a question or didn’t hear your interviewer clearly, don’t be shy to ask your interviewer to repeat the question.
- If you didn’t understand a question during an interview, you can ask for a repeat/rephrase.
- You’re not obligated to give a quick answer, take your time and think through the answer you want to give. Doing this also shows that you are articulate.
- If a question makes you go blank, you can request another question.
Success in your interview is tied to many factors; your research, preparation, and follow-up included. Ensure you are polite during your interview and follow-up after your interview. If you would like us to coach you before your next interview, send us a mail (firstname.lastname@example.org) stating your intention and a phone number we can call, and our customer care agent will give you a call.
Frequently Asked Question
Will I be asked all the questions on this list?
No, you won’t be asked all the questions on this list. The number of questions you’ll be asked in an interview depends on many factors such as; the type of interview, the organization, and the stage of the interview, etc. Let’s said, on average, you would be asked 2-4 questions during your interview.
Do you have comments or questions? Please let us know in the comment section below. Cheers to your success!