Project Accountant
Top 25 Interview Questions and Answers

Question 1 of 25

Have you had any disputes with other employees in different departments about costs?
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Top
1. Have you had any disputes with other employees in different departments about costs?
Top Answer
Yes but i always try to find the solution and make the employee to inderstand the situation.
Second Best
Yes but i always try to find the solution and make the employee to inderstand the situation.
3.
Yes and I always try to resolve the issue and make things easy to understand for other employees.
4.
Yes, but an amicable solution always comes where I show them the need to conserve costs and how to monitor their own costs.
5.
Have not worked on costs but have solved the situation with other department.
6.
Yes, but everytime a dispute rises I always find a way to met our minds towards better ends.
7.
Yes, but I have always found ways to resolve the issues.
2. Tell me about your education in accounting.
Top Answer
Business Administration degree
Second Best
I have a Batchelors Degree in Accounting. My area of study was Costing. Allocation is the key for costing.
3.
I am a certified public accountant working towards my CMA .
4.
Right after high scholl , i did Certificate course in financial management for two years and ihave been working as Sr. accoounta for the last 19 years. i have a good knowlegde of accounting works.
5.
I amna qualified project accountant with experience of provide accounting support for projects preparing financial analysis and reports for project activities
6.
I have a Batchelors Degree in Accounting. It helps me understanding the concept of my day to day work.
7.
I have an honours bachelor in commerce with a major in accounting.
3. What areas of accounting are you particular good at?
Best Answer
analysing cntract bills and profiling best contract to be sorted for
2.
IAS 11 - Construction Contracts
3.
Allocation Method.
4.
Auditing and preparation of books of final accounts.
4. How long do you plan on working in our department?
Best Answer
Like any one else, I look for a long term relationship with the company. After giving considerable amount of time, if there are opportunities to grow within the company, until then.
2.
Provided it provide opportunities to grow in my career I would stay in my department until I will retire.
5. What can you do for us that other accountants can not?
Best Answer
Contracts evaluation/Subcontracts accuracy.
2.
Using my knowledge i can provide great accounts and helping the company achivening the goal.
3.
I will try to work harder than that of other accountant in the project by analyiing all the reports that directly related to project accounts work.
4.
I will not only be an asset to your company in accounting field but also in other decision making processes. This is because my last job involved designing projects thus I have gained insights in the area.
6. What is an audit query?
Best Answer
Any questions related to a company which is audited either by an internal or external auditor.
2.
The final touch of the accounts.
3.
It is the matter being investigated while examining financial report of a company.
7. How do you determine how much labor costs are for a particular employee that has worked on several projects, not just this one?
Best Answer
The labor costs are usally pulled out from a payroll system. Particular employee should be coding his/her time according to the cost code worked.
2.
By looking at the expences for the particule projesct and the labour hours involte in the eacch project.
3.
Check the previous amounts he/she earned per hour add any increment as per contract he/she signed with the company then multiply with the number of hours he/she worked.
8. What was the most challenging project you worked on?
Best Answer
I have worked on a Project that was handed over me in the middle of a mess. I first took a look at the accrued receivables and started clearing the unreconciled balance. I was sucessful to bring the balance down to a nominal cost of couple of thousand dollars.
2.
Project A . Infact I didnt work but just watched it. Its a Nice Movie starring Jackie chan.
3.
Whwn i was a student at university I had to managet a project including 5 people in a team I was the one responsable for the project and coordonate.
4.
When I designed a project targeting vulnerable populations I did not have adequate information about.
9. Tell me about your experiences as a project accountant.
Best Answer
my experience as an accountant has been great ranging from, Financial Reporting, treasury management, budgeting and budget control, compliance and general ledger management, internal control management and human resource duties
2.
Gained considerable knowledge in costing. Lots of analysis and how effectively cost accounting system can be used.
3.
I have worked as account consultant for two years where I specialized in conducting project feasibility studies, designing alternative sources of finance and preparing project budgets.
10. Have you ever worked on a project that lasted multiple years?
11. How would you come to a resolution disputing material costs for a project that you shared materials with?
Best Answer
Split the cost.
12. Why did you choose to pursue a career in accounting?
13. Why are you the best candidate for us?
14. What is your greatest strength?
15. Describe the systems you have in place for keeping track of assignments given to staff members.
16. How have you monitored the performance of your team?
17. How have you monitored the regulations that affect your accounting position?
18. How do you stay organized as an accountant?
19. How do you handle difficult clients?
20. Tell me about your education.
21. How have you implemented the recent tax changes in your company?
22. How did you handle it when projects were over budget? What did you do to keep it within budget?
23. How do you prioritize when you have multiple deadlines to meet?
24. What is your greatest weakness? What are you doing to improve it?
25. What are your career goals?
Project Accountant
Job Satisfaction
Interview Difficulty
Healthcare
Vacation
Hours per Week
80%
Easy
Provided
Over a Month
Under Thirty

Project accounting (sometimes referred to as job cost accounting) is the practice of creating financial reports specifically designed to track the financial progress of projects, which can then be used by managers to aid project management.


Source: http://en.wikipedia.org/wik...
Last Updated: December 16, 2014, 7:13 pm
Education Requirements

Employers typically require project accountants to hold at least bachelor's degrees in accounting or a related field; however, some prefer candidates who hold master's degrees in accounting or a pertinent discipline. Bachelor's degree programs in accounting typically entail course loads heavy in courses like financial accounting, cost accounting, auditing and taxation.

Work Environment

Project accountants work closely with project managers to devise the budget, facilitate the billing process and perform cost assessments for a particular project or portfolio. They usually take part in the executive decision-making process, often providing financial analyses on which management may base decisions about product development and other matters.

Project Accountant Reviews

Aug 2, 2014
Why did you choose this profession?
It was the most interesting profession I have learned of.
What do you enjoy about being a Project Accountant?
Bering a project accountant, I have learned so many things inlcuding management skills and cost controlling and helping organization achieving its financial goals.
What areas do you dislike about being a Project Accountant?
Usually there is nothing to be disliked for me being a project accountant.
What special skills does it take to be a Project Accountant?
Subcontractors evaluations, budgeting, costing, projections and all financial reports accuracy and experience.
What do you find to be the most challenging part of your job?
Most challenging part of a job is to make things in real understandable forms when all is messed up.
Aug 21, 2014
Why did you choose this profession?
This profession is very useful in all the business and in comapanies which helps to know about the costs, profit, budget, revenues, etc.
What do you enjoy about being a Project Accountant?
It helps to gain more knowledge and can be very thorough which helps us for future business.
What areas do you dislike about being a Project Accountant?
Not worked on this, if would have worked definitely would have told.
Sep 12, 2014
Why did you choose this profession?
I find it very interesting in the sence that produced reports is a key for management strategies and decision for control, maximize efficiency, effectivity and profitability.
What areas do you dislike about being a Project Accountant?
When dispute rises with contractors/subcontractors due to miscommunication.
What special skills does it take to be a Project Accountant?
Contract analysis and patients in going into and understanding on going project progress details.
What do you find to be the most challenging part of your job?
All aspects of the job are always challenging for me because I believe patience for maintainance is a virtue and improvement is open ended.
Tell me about the hours you are used to working and your schedule.
Personally I consider this as my weakness which I am working out because I always makes sure I never be caught in the deedlines therefore I always work hard to the point of working more than reasonable hours to the average man.
What are some of the benefits you are custom to as a Project Accountant?
A company that abides the law is very important to me therefore benefits as per UAE labor law and salary as per industry average.
What advancements do you expect in the future?
I want to take masters in this field first and eventually become a Manager in project accounting.
Oct 28, 2014
Why did you choose this profession?
I have always had a passion for accounting and I love what I do.
What do you enjoy about being a Project Accountant?
Every project has its own challenges and I love challenges and resolving them.
Nov 12, 2014
Why did you choose this profession?
I love the analysis and development of the project.