Top 25 Accounting Interview Questions
List of Accounting Interview Questions
  1. What is FIFO?
  2. What are the different types of internal audit?
  3. How does higher management benefit from payroll reports?
  4. What software do you have experience in, when dealing with payroll?
  5. How committed are you to work the hours necessary around tax season?
  6. What is an accrual?
  7. Tell me about invoice discrepancy that you discovered and how you resolved the discrepancy?
  8. Explain to me the different ratios in accounting?
  9. What is your experience with excel?
  10. Define a bad employee?
  11. What is notional cost?
  12. Give me examples of internal control procedures that you have developed and maintained?
  13. Tell me about an invoice discreptancy you have discovered in the past, and what you did about it?
  14. Would you make it mandatory for your employees to be on direct deposit?
  15. How would you generate a cash flow statement?
  16. How do you record retained earnings when you sold company shares for closing of the books?
  17. What is the meaning of per diem?
  18. What is the difference between cost accounting and management accounting?
  19. I dislike to ask this question, but in what area of accounting are you the weakest?
  20. Tell me about the financial forecasting that you have been responsible for?
  21. In which areas of accounting would you say you are the best at?
  22. What is the purpose of an audit comittee inside a firm and its role with external auditors?
  23. How can you link between materiality and audit report?
  24. What is the planning budget in a general ledger?
  25. Explain to a ten year old what a balance sheet is?
  26. How many invoices have you handled on a monthly basis, in the past?
  27. Can you work under high pressure business situations?
  28. Describe to me any account process that you have developed or revised?
  29. Give me your thoughts on Sarbanes-Oxley?
  30. What cost-cutting measure have you been in charge of implenting?
  31. In detail, tell me what Sarbanes-Oxley act has changed accounting?
  32. What are variable costs?
  33. What is the general ledger?
  34. Tell me whose job it is to audit the audit firms?
  35. How is goodwill calculated?
  36. Can we deduct TDS on hire purchases?
  37. What is the pool rate?
  38. What is meant by single audit process?
  39. For payroll, how would you calculate gratuity?
  40. What is retropay?
  41. What about payroll do you like?
  42. How would you account for the leasing of a vehicle?
  43. What are you future plans with the company?
  44. What is a fiscal year?
  45. What is the difference between direct and indirect expenses?
  46. Do you plan to open up your own accounting firm?
  47. What is GAP analysis?
  48. What is the future period and adjustment period?
  49. Can you describe to me the scenario of a multi-organization set up?
  50. How difficult is it to set up an LLC?
  51. What experience do you have with general ledger?
  52. What is the difference between debenture and preference share?
  53. What is the golden rule of accounting?
  54. What is the difference between account payables and bills payable?
  55. What is a bank guarantee?
  56. What is the difference between CTC and Salary?
  57. Explain to me the weighted cost of capital?
  58. How do you keep updated on all the accounting rules and techniques?
  59. Discuss your experience in financial analysis of your previous companies projects?
  60. What salary are you seeking?
  61. Explain to me GAAP.
  62. Explan to me Activity Based Accounting?
  63. What is the difference between nominal, real, and personal accounts?
  64. What type of auditing experience do you have?
  65. Discuss your experience in tax planning and preparation?
  66. What are the steps you take to approve an invoice before payment?
  67. What information do you require before you approve an invoice for payment?
  68. What are the reasons for getting audited?
  69. In the past, how many employees were under your payroll?
  70. What is the difference between singel and double entry?
  71. What is your knowledge and experience using Quickbooks?
  72. When do you plan on attaining your CPA?
  73. What are the payroll inputs?
  74. Why do companies need adjusting journal entries?
  75. Give me examples of the accounting reports you have prepared?
  76. How do you label a reconciliation spreadsheet for a customer that is billed monthly in advanced?
  77. What is the component level default processing?
  78. Which accounting applications are you familiar with?
  79. Tell me about the most challenging audit you have ever done?
  80. Tell me about the most challenging tax preparation you have ever done?
  81. What courses did you like best in your preparation to be an accountant?
  82. Why have you choosen a career in accounting?
  83. What is the minimum alternative tax?
  84. Where is audit data stored?
  85. What are the vital attributes present in an audit report?
  86. If you are just coming out of college, what classes did you take to gain valueable knowledge in payroll?
  87. What are the general deductions made while doing payroll for an employee in an organization?
  88. What is your experience with cash flow statements?
  89. What is the meaning of GL reconciliation?
  90. What is the difference between letter of credit and letter of guarantee?
  91. What is consolidation?
  92. Describe to me a difficult situation at work and you how disfused it?
  93. What is your defintion of business?
  94. Why does a company require an accounts payable process?
  95. Give me an example of a sub ledger?
  96. What are the procedures of elimination during consolidation of financial statements?
  97. What is the difference between tangible and intangible assets?
  98. What is a payroll disbursement journal?
  99. Tell us about any accounting process that you have either developed or revised?
  100. What aspects of accounting do you dislike the most?
  101. Explain to a 14 year old girl/boy how depreciation works?
  102. Explain to me different types of audits.
  103. Tell me about your experiences in conducting audits?
  104. Are you prepared to work side-by-side with well diversed personalities?
  105. If you have done bookkeeping in the past for small businesses, tell me about your experience doing that.
  106. How do subledgers integrate with GL?
  107. What entry is recored when $90.00 of supplies are purchased on account?
  108. What is form 1099?
  109. How do you calculate aging dates?
  110. What is the accounts payable cycle?
  111. How soon do you plan to achieve partner?
  112. Tell me about a project leader, whom you admire. What skills did they have that you really liked?
  113. Summarize to me, your time spent at your current company.
  114. What are you hoping to learn, or in what ways are you hoping to benefit your long term career, by working with our company?
  115. What types of projects that you work on bring you the most motivation and excitement?
  116. How did you get started in this area of accounting?
Author:
Contributing Author
Diana D'Souza
HR Professional
Creativeinkdrops.com/
Accounting Information
April 9th, 2017

Accounting professionals handle all the financial dealings of the company they are working with. Their specific duties may vary depending on the size of the company as well as the industry they are working in. Generally, accounting professionals analyze accounting data, prepare asset and liability reports, document financial transactions, audit documents and recommend financial actions when necessary.

A bachelor's degree in finance, economics, accounting or related fields may be sufficient to get hired by a smaller organization. Larger corporates will only hire applicants with a master's degree in the above fields along with substantial experience. The best way to get the necessary experience is by doing an internship with an experienced accountant. This will help you learn all the duties and responsibilities of the role and also boost your chances of employment.
Most of the questions asked at your interview will be aimed at evaluating your competency and skills in accounting. The interviewer will ask you several questions to gauge your knowledge and skills and also to determine your career goals. How you answer the question about your career goals will speak volumes about how long you are likely to stay on in the job. Most employers are looking for long term employees so you need to be careful how you answer this and all other questions. A look through mock interview questions can prove to be very helpful.
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The top accounting interview questions, based on votes by our users at Mockquestions.com. Created on February 17th, 2016

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