TOP 20 ACCOUNTANT Interview Questions And Answers!

Hi there, my name is Richard McMunn from the interview training company PassMyInterview.com. And in this tutorial, I'm going to give you my top 20 accountant interview questions and answers. So, it does not matter which organization you are applying to join as an accountant, please make sure you watch this tutorial from beginning to end, because I'm going to give you some top scoring answers to make sure you get the accountant job you deserve. Now, before I get into those, a very warm welcome to this tutorial. As I say, my name is Richard McMunn. That's me there in the center. I've been helping people to pass their interviews for about 20 years now. Please do make sure you SUBSCRIBE to the channel by clicking the red button below the video, and then you won't miss out on any of the weekly training videos that I'm uploading. And I would also very much appreciate it if you gave the video a LIKE to support my channel. Thank you. Thank you very much. Okay, let's get straight into those 20 accountant interview questions and answers. Here we go. So, question number one. Why do you want to be an accountant? Here is my suggested answer. I want to be an accountant because it's a job that comes with a high level of responsibility and accountability. If you don't perform your role as an accountant to the expected standards, the consequences can be far-reaching. Now, the natural skills and qualities I possess and my desire to work under pressure to high standards means the role of an accountant is one that I will excel in on a consistent and reliable basis. I am an inquisitive person who has patient and exceptional attention to detail skills, all of which go to make me the perfect candidate to be an accountant with your company. So I recommend you learn that and use that for your response to the interview question. Why do you want to be an accountant? Let's take a look at the second question of my top 20 accountant interview questions. Why do you want to work for our company as an accountant? Now, this is pretty much a guaranteed question during your accountant interview. And here is my suggested answer. I want to work for your company for three specific reasons. The first reason is, you are clearly an accounting firm who sets high standards and the online reviews you receive from your clients demonstrate your desire to provide a great level of service based on their individual financial needs. Now the second reason is, you are a company who has a strong reputation within the industry and I would actually feel proud to be an accountant for your company. Now finally, having carried out lots of research before applying for this accountancy job, I feel you will support me in my role and encourage me to continually develop and improve, which is really important to me as a professional accountant. What I like about that answer is you are focusing on three main reasons why you want to work for their company. I can pretty much guarantee that all of the other competitors at the accountant interview will give just one reason. You are giving three great reasons there why you have chosen their company. Question number three of your accountant interview. What experience do you have that would be applicable to this accountant role? This is my sample answer. The experience and competencies I have gained so far can be allocated to three main areas. Firstly, I have experience of working with a variety of different clients, both small and large. Whilst working with all types of clients, I always provide a consistent level of service and I go out of my way to get the job done on time and to an accurate standard. Secondly, I have experience of working under pressure to tight deadlines whilst managing multiple accounts and clients. Thirdly, I have experience of working collaboratively with other accountancy team members and bookkeepers to ensure accounts are completed and submitted on time. I believe the experience I have gained so far will enable me to perform highly within this role and I will always act as a positive role model in my capacity as an accountant for your company." That's a great answer. And you are talking about the experience and the competencies that you have that will be a match for the role. And that's important. Next question. How do you handle pressure? Now, you and I know that as an accountant, you have to work under pressure. There are difficult clients to work with at times, but more importantly, there are tight timescales that you have to adhere to and get the accounts completed. And especially during the end of year, when the accounts have to be submitted, there's a lot of work to do and you will be under pressure. So how do you handle pressure as an accountant? Here is my suggested answer. To be truthful, I feel I work better when I am under pressure and I enjoy the challenge of getting my accountancy work completed on time and to the right standard. I handle pressure by first of all, drawing up a list of tasks that need to be completed and by which timescale. I will then work the necessary hours to make sure the job is completed on time. More often than not, I will work from home in the evenings to get my work completed as I don't like to fall behind. As I say, working under pressure is something I do really well. I feel I thrive when I have to get more tasks completed within a set period of time. So this demonstrates that you do the important thing whilst working under pressure, which is drawing up a list of which tasks needed to be done by which timescale, and then you put in the necessary hours to get them done. And that's the important thing that demonstrates that you are a completer finisher, somebody who can handle the pressure and get the job done. Next question of our 20 accountant interview questions. What do you expect to be doing on a day-to-day basis as an accountant? This is assessing whether you understand the role that you are applying for and also the key responsibilities of an accountant. So here we go. The main duties I expect to be carrying out as an accountant include providing financial account management information to clients as and when required, preparing asset, liability and capital account entries by analysing account information, recommending financial actions after careful analysis of accounts, and also preparing balance sheets, profit and loss statements and management accounts on a periodic basis. I will also be required to guide accounting staff to assist the company in ensuring accounts are prepared on time, liaise with clients and provide advice and information based on their financial accounts, maintain financial security by following organisational procedures and protocol, and also maintaining client confidence whilst adhering to all the necessary rules, regulations and the law that surrounds GDPR. Finally, in addition to reconciling financial discrepancies after careful analysis of clients account information, I will be required to keep my own knowledge and professional development up to date based on developments from within the financial sector and industry." So that is an in-depth answer, but that's important because there are many and varied different tasks that you will have to carry out as an accountant. So you need to be able to rattle them off and tell the interviewer or the hiring manager exactly what you expect to be doing on a day-to-day basis. So, 15 more accountant interview questions. The first ones we've covered, just to recap, what do you expect to be doing on a day-to-day basis as an accountant? Why do you want to be an accountant? How do you handle pressure? What experience do you have that would be applicable to this role? And why do you want to work for our company as an accountant? Question number six. When have you worked with others to complete a difficult task? Question seven. What are your strengths? Number eight. What's your biggest weakness? Number nine. Where do you see yourself in five years time? Make sure you pause the video and write down these questions. Number 10. What are the different types of business transactions in accounting? 11. Which accounting platforms have you worked on? Question 12. Give an example of when you've worked with a difficult client, which you have to do as an accountant. You have to be professional and be patient at all times. Question 13. What are the different types of financial statements? Number 14. What is working capital? What's the difference between deferred revenue and accounts receivable? And what accounting software applications do you have experience in? And I would, prior to the interview, have a look which applications they use and make sure you are competent in their use. Number 17. How do you maintain accounting accuracy? Number 18. What is the difference between a trial balance and a balance sheet? Question 19. What is the difference between inactive and dormant accounts? Question 20. What is a deferred tax liability? My advice is to also make sure that you have a couple of questions that you want to ask the interview panel when you get to the end of the interview. The questions might be that you could ask the interview panel would be, what are the plans for your company over the next few years? Because that demonstrates you plan to stay with them for a long time. Just to repeat that, your question might be, what are the plans for your organization over the next three to five years? Another question might be, if I'm successful in the role, what do you want me to concentrate on as an accountant within the first few weeks of starting? You could also ask a question if you wanted to, which goes along the lines of, what have previous accountants done that have frustrated you? You know, what do you want me to concentrate on? What difference could I make to your company? Now, those are really good questions to ask at the end of your accounting interview.