COST ACCOUNTING - FINANCIAL ACCOUNTING INTERVIEW QUESTIONS --LINKS AND A FEW QUESTIONS.
FOR MOCK INTERVIEW send email to samba.ssivan@gmail.com
COST ACCOUNTING INTERVIEW QUESTIONS
1.
Differences
between cost accounting and financial accounting.
2.
Differences between cost accounting and management
accounting
3.
Cost classification by Nature---
4.
Cost Accounting standards?
5.
Reasons for difference in profits of cost and
financial accounting
6.
Job Costing 5.2 Batch Costing 5.3 Contract
Costing 5.4 Process Costing – Joint & By-Products 5.5 Operating Costing or
Service Costing – Transport, Hotel and Hospital
7.
Marginal costing? Standard costing?
8.
1. What is the difference between accounts receivable (AR) and accounts
payable (AP)?
9.
This is one of many elementary interview questions for accountants that
you may be asked to explore your general accounting knowledge. While it’s quite
simple to respond with the basic definition that accounts receivable are assets
and accounts payable are liabilities, take this question as an opportunity to
demonstrate your actual previous work experience with these tasks.
10.
2. When a company is using double-entry accounting, what elements of a
given ledger must be equal?
11. Among the many
accounting interview questions you could be asked, this one is fairly
straight-forward. Candidates with some accounting training or experience should
have no trouble answering it. As with question one, how you reply may show
whether you’re under- or overqualified for a junior-level position.
12.
3. If a company has three bank accounts for processing payments, what is
the minimum number of ledgers it needs?
13. This is a starting
point to explore your knowledge of ledgers. Your response could lead to further
discussion of your skills related to the job you are applying for. The
interviewer will expect your responses to reveal the extent to which you have
thought through how accounts relate to lines of business and generally accepted
accounting principles.
14.
4. What are two or three types of accounting or finance publications?
15. While still a
fairly basic question, you may tailor your response according to the specifics
of the role you’re applying for or to the company’s recognised approach. Or, as
a skill test, you may be presented with a few publication samples and asked to
explain them. The way you demonstrate your communication skills here will show
your skill level in identifying mistakes or omissions.
16.
5. What methods have you used for estimating bad debt?
17. Accounting
interview questions such as these can open conversations about the way you have
approached this routine process with previous employers. This line of inquiry
allows recent grads to apply theoretical knowledge in venturing educated
guesses. Your answer will reveal the level of understanding of the methods most
commonly used and could open a dialogue about how you may handle this
scenario.\
18. Are you an
Accountant? Find out what skills and qualifications may determine an Accountant salary.
19.
6. Why is it easier for someone to perpetrate fraud using a journal
entry than with a ledger?
20. Accounting
professionals, particularly those who have managed ledgers or worked as
full-charge accountants for more than a couple of years, should be able to
speculate on this scenario. A candidate with more formal training specific to
auditing or fraud analysis will likely explain this thoroughly and be able to
provide examples.
21.
7. Which enterprise resource planning (ERP) systems have you used?
22. Most professionals,
especially those with experience working for medium to large organisations,
should have an answer for this. A response might include any of the following:
Hyperion, Microsoft Dynamics GP or Oracle Enterprise Manager. For entry-level
candidates, you might turn this into a discussion of finance certifications and
future training possibilities. Discussion of these tools, how you learned them
and what applications you have used will reveal how much, if any, staff
training you might need if hired.
23.
8. What is your experience with developing business metrics?
24. Though somewhat
general, this type of finance and accounting interview questions can elicit
answers that are useful in evaluating entry-level business or financial analyst
candidates all the way up to mid-career professionals who aspire to roles that
come with budget and staff oversight responsibilities.
25.
9. 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?
26. This falls into the
category of behavioural interview techniques, a tactic
useful in gauging your ability to think through a scenario like one that might
be faced in a more senior finance role. Your response will show the hiring
manager if your approach is in alignment with that of the existing team, which
will also indicate if you’re a good cultural fit for the company.
27.
10. What challenges have you faced in leading a team through an analysis
project?
28. This interview
question is designed for probing leadership skills. It allows the interviewer
to better explore the particularities of your interest in the position and your
background. As with question nine, your reply will reveal the level of critical thinking skills and elicit a
better picture of your leadership skills.
29. By preparing for
these finance and accounting interview questions, you are sure to be ready for
your next job interview, and ready to demonstrate your suitability for the job
on offer.
30. Want more examples
of common finance and accounting interview questions and answers? Take a look
at our Business Analyst interview questions or search
for current jobs.
Post a Comment