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Accounting & Finance Interview Questions

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Are you going to appear for an accountant & finance interview? Well, the assured way to crack a job interview is to prepare adequately for possible interview questions and answers. That same thing applies to accounting & finance job as well. Basically, this type of interview is comprised of a series of general interview questions and accounting questions and you are supposed to answer them with excellence.

Here, in this article, you will come to know about a few frequently asked accountant interview questions and answers. Going through them will help you to excel at the job interview with excellence. Along with it, you will also get an introduction part here which will provide you some basic information on accountancy. So, let’s start with the introduction first.

Introduction:
The word accounting & finance literally means the language of business. The definition of accounting includes summarizing, recording, reporting and analyzing data. Let’s study these components first –

 
  • Recording
The basic function of accounting is to make proper records of all transactions that a firm made. The process of recording these transactions are referred to as bookkeeping. However, bookkeeping is narrower concept than accounting but the process is more or less the same. In order to keep records of transactions, accountants follow a set of books. This helps them following a systematic approach. However, in these days, computers are widely used in this process.
 
  • Reporting
The management of a company is always answerable to its investors as the owners need to update them periodically about the financial operations that the company made. For this reason, the accountants need to prepare reports that are sent to the investors. These reports summarize the performance of the company the entire year. The reporting is presented in the form of the financial statement.
 
  • Summarizing
The recording of transaction creates only raw data which a non-accounting person cannot make out. For this purpose, accountants classify these data into categories which are defined as the chart of accounts.
 
  • Analyzing
The final part that an accountant performs is the analysis of the reports. After the records, summary, and reporting are done, a meaningful conclusion needs to be drawn. The management needs to find out it’s both positive and negative aspects. Accountants do it in a simple way that helps analyzing the performance of the business throughout the year.
 
Operational and situations questions and answers

Here is a list of frequently asked accounting answers and questions. Have a look at them

Question No 1: Tell 
about yourself
This is the most basic question to start an interview. This creates a communication with the interviewees. The answer should be given in a compelling manner so that you 
look  an appealing candidate to the HR professional.

Question No 2: Why do you choose this accounting & finance profession?
Your answer should be clear and straight in this respect such as you always like playing with numbers and financial figures and that’s why you have chosen this profession. Besides this, you also have a distinction in accounting.

Question No 3: Do you have any professional experience in this field?
If you have any previous experience in this field, you should clearly state it in front of the interviewers. Or if you don’t have, say clearly that you are a newbie in this profession and want to start your career with a reputed organization.

Question 4: Do you make use of accounting & finance programs or you prefer doing it manually?
Yes, I use advanced accounting programs as well as accounting software in my workplace.

Question 5: Can you mention the name of an accounting program you have used?
Yes, I am well-versed with financial force, Microsoft dynamics, Microsoft accounting professional, and Microsoft small business financials.

Question 6: Which program you like the most and why?
Well, almost all programs are good but when it comes to 
choose the best one, I would prefer choosing Microsoft accounting professional because it enables quick processing of accounting operations and thereby enhance proficiency to a great extent. 

Question 7: Could you tell me the two abbreviated forms of accounting terms – “debit” and “credit”
Yes, credit abbreviated form is Cr whereas debit abbreviated form is Dr.

Question 8: what are the two types of business operations in accounting?
There are mainly two types of business operations in accounting. One is capital and another is revenue.

Question 9: what do you understand by balance sheet?
The balance sheet is a kind of statement which represents the liabilities and assets of a company covering a particular period of time.

Question 10: Could you tell me the definition of TDS?
Yes, TDS is related to taxation displayed in the current asset column.

Well, these are some of the most predictable accountant interview questions. Accountancy is a vast subject and it includes various perspectives. To prepare yourself for this interview, you should make a thorough study of all the aspects to show your excellence in accountancy.

If you find this article helpful, please feel free to share your comments below. We value your feedback.  To keep yourself updated with more informative articles, stay tuned to
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