Accounting Mock Interview
Master 30 Accounting interview questions covering reconciliations, financial reporting, and audit scenarios.
Question 6 of 30
How do you stay updated on all the accounting rules and techniques?
Entry Level
Experience
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Bobbi Witt is an HR Manager and Senior Level Finance and Accounting Consultant. Her experience includes 9 years at a Fortune 500 company where she held a wide range of financial and management accountabilities.
"I feel very fortunate to have an Accounting Degree from a University that focused on current accounting practices, changes in GAAP and SOX, industry trends, proposed legislation, and bank regulations. I'll continue to stay updated by being actively following LinkedIn Group articles and CPA newsletters, as well as applying to the AICPA as a studying CPA exam applicant."
Bobbi Witt is an HR Manager and Senior Level Finance and Accounting Consultant. Her experience includes 9 years at a Fortune 500 company where she held a wide range of financial and management accountabilities.
"I take advantage of PwC, BDO, EY, and Deloitte. They have a lot of resources, and their articles do a lot of the researching for me. KPMG's Alert is a crucial email I review every time it comes in. Locally, I'm a member of the CPAA chapter and listen to guest speakers on a quarterly basis for CPE credit. As a CPA in the state of Ohio (say your state), it's required to take 120 hours of CPE classes in 3 years to maintain a CPA license and stay current on all accounting practices and changes."
Bobbi Witt is an HR Manager and Senior Level Finance and Accounting Consultant. Her experience includes 9 years at a Fortune 500 company where she held a wide range of financial and management accountabilities.
This is a very good question for anyone just graduating from school, as you'll be updated on accounting principles, rules, any changes, and techniques.
Experienced professionals will need to demonstrate how they stay updated. This question seeks to learn from the interviewee if they're continuing to improve their knowledge in their field of work.
Bobbi Witt is an HR Manager and Senior Level Finance and Accounting Consultant. Her experience includes 9 years at a Fortune 500 company where she held a wide range of financial and management accountabilities.
"I keep up to date by subscribing to Accounting Today and Public Accounting Report, which are magazines following all accounting laws and changes, and break them down. I'm also a member of the AICPA, so they send information on accounting changes that have been implemented."
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Anonymous Answer
I have a subscription with IFRS.org and I use it frequently as well as receive email notifications of changes. Additionally, I also receive daily emails from Accountancy Daily, a daily email that comes with my firm's subscription to Croner i.
All important tax and accounting standard changes are communicated on that email and I set time aside daily to read it.
Additionally, I take CPD courses, usually recommended by ACCA, and this allows me to record my CPD effortlessly as all the records are in one place, and with many of the events now online, I take full advantage of any that comes my way.
I also listen to an Accounting best practice podcast and receive regular emails from the HMRC and Companies House.
Chad's Feedback
Excellent! You have identified a wide variety of reputable resources to keep you informed on changes to accounting rules and techniques, while also demonstrating you are continually improving your skills through online professional development courses.
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