Job Interview Questions and Answers for Accounting and Finance Careers

Job Interview Questions and Answers for Accounting and Finance CareersSection One: Job Interview Questions for Accounting and Finance Careers

( Please CLICK on the Question to reach the model answer, tips and related video)

General Questions for Accounting and Finance Job Interview

Question No. 1: Why did you select accounting as your profession?

Question No.2: Where do you see yourself in the next 2 to 3 years?

Question No.3: Why should we hire you?

Question No.4 : Tell me about yourself

Question No.5 : What is your philosophy towards work?

Question No.6 : Do you consider yourself successful?

Experience Related Questions 

Question No. 7:  What did you do in your last job?

Question No.8: What is the most recent skill you have learnt relating to Accounting?

Question No.9: How many invoices on an average you process on a daily or weekly basis?

Question No.10: What would you do if you notice discrepancies in the invoices made by someone else in your office ?

Question No.11: Do you possess any knowledge about accounting standards?

Question No.12: Have you ever made suggestions to your seniors? Tell us about that.

Question No.13: What previous experience you have any of this field?

Question No.14: What have you done to improve your knowledge in the last year?

Technical Knowledge Questions for Accounting and Finance Job Interview

Question No.15: How do you define departmental accounting?

Question No.16: Define fictitious assets?

Question No.17: By saying, perpetual or periodic inventory system; what do we mean?

Question No.18: In accounting, how do you define premises?

Question No.19: Do you think Accounting Standards are mandatory and why?

Question No.20: Define Executive Accounting?

Question No.21: Define Public Accounting?

Question No. 22: How many types of business transactions are there in accounting?

Question No. 23: What is a Balance Sheet?

Question No.24: Please explain the basic accounting equation?

Question No.25: What is a Bank Reconciliation Statement?

Question No.26: Where in journal entry would you record a cash discount?

Question No.27: What is meant by reversing journal entries?

Must watch this video to watch the interviewer ask questions:

 

Section Two: Job Interview Questions and Answers for Accounting and Finance Careers


Question No. 1 Why did you select accounting as your profession?

Similar questions:

• Why did you decide to become a Finance or Accounts Professional?
• What factors influenced you to choose this career path?
• Why do you want to become an Internal Auditor?

Understanding the Question:

The interviewer is seeking to understand your primary motivation for selecting this career. It is also a good question for the interviewer to learn how much planning and thought actually went into your career selection. Are you there by random acts and/or chance? Or is this part of a well-designed plan?

An example of how to best answer this question for entry level candidates:

Model Answer to Question:

There were many influences that went into my decision to select Finance and Accounts as the career field. One of my early mentors is my Father, who works with a well known Bank in the country and he encouraged me to explore opportunities in this field. Later my elder brother qualified as a Chartered Accountant and is now working with a large FMCG company. They have pointed me in the right direction to explore the possibilities. But it was the combination of my career research along with my subjects in School and College which helped to solidify my decision.

As you may notice that I have scored more than 90% marks overall in school, as well as in Economics and Accounting during my graduation studies.

Thus I am well prepared for a successful career in Finance and Accounts

Final Tip

The easiest way to do this is to use an example from your background and academics. It is a behavioral question and not a technical one. Hence it should not be difficult.

Watch this video for Model Answer & Tips

Question No. 7 What did you do in your last job?

Similar Questions

Instead of this, question, the interviewer may ask:
• Tell us about your achievements in your previous job?

Understanding the question

The interviewer’s job is to hire the person who has contributed in some way to the organization.
This interview question, like every other interview questions is an attempt to gather information to take an informed hiring decision.

Answer Tip

You should carefully mention what you bring to the table. This could be a combination of the necessary academic and professional qualifications, skills, experience (if any), right attitude which more than matches with the job profile and the specifications.

Your point by point answer could be in terms of your qualifications, experience, skills and special achievements which you bring with you.

Draw their attention to how your professional assets meet what the organization’s needs.

Model Answer to Question:

Having graduated from college last year, I haven’t faced much difficulty in my first job.

This gave me an opportunity to study the accounting processes of my employers. Fortunately, I found an area which could be improved upon. This was the accounting process of vendor payment.

Thus I created a system on processing payments for a faster processing and quicker payment. Earlier it used to go through 6 persons and would take 8 to 10 days. After implementing the system recommended by me, it is now done by 3 persons and in 3 days only.

This not only resulted in the savings for the company in terms of time and cost but earned the praise of the vendors. The vendors are now very happy to work for us.

Overall it has also created a better image of my company in the market.

Final Tip

Be clear, quantitative and give specific example! Be careful not to tell lies or take all the credit yourself.

Watch this video for Model Answer & Tips

Question No. 8 What is the most recent skill you have learnt relating to accounting?

Alternative questions

  • What have you learned in your last job?
  • What did you learn in each of your previous jobs?

Understanding this question

The interviewer would like to know if you are an all-time learner. Companies want to hire people that are constantly learning and updating their skill sets.

Answer Tip

Provide the information about (a) What the skill it is (b) how it is relevant to to the job you are interviewing for and (c) what you have accomplished or can accomplish

Sample Answer

I recently learned more about the latest software for processing and computing Income Tax, TDS, using accounting software. I also learnt how to generate customized reports. Although everyone uses accounts software but the catch is how to use the different features of the software by generating useful reports for analyzing data better. My reports were found very useful by the management and appreciated by the customers.

This skill has been very helpful when attending business meetings and establishing new relationships.

Watch this video for Model Answer & Tips

Recommended pages for more useful readings:

Interview Questions Answers for Principal and School Teacher

Interview Questions Answers for Principal and School Teacher

Useful Phone Interview Tips

Useful Phone Interview Tips



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