How to Answer: Have you ever worked for a company that accepted cryptocurrency as a form of payment?
Advice and answer examples written specifically for an Accounts Receivable Specialist job interview.
23. Have you ever worked for a company that accepted cryptocurrency as a form of payment?
How to Answer
Since cryptocurrency is still not mainstream, there is a high likelihood that your response to this question will be 'no.' The point of the interviewer asking this question is to find out if you have taken the time to research and learn about crypto payments.
Briefly discuss what you know about cryptocurrency and be sure to express interest in learning more. An excellent question for the interviewer in return is if the interviewing company currently accepts any form of cryptocurrency. If they do not, perhaps it's in the works!
Written by Bobbi Witt on January 7th, 2019
Entry Level
"In my six months of accounts receivable experience, I have not yet worked with cryptocurrency as a form of payment. I'm familiar with the concept; however, and follow a few blogs on the topic. Cryptocurrency values fluctuate dramatically so for some businesses; it does not make sense to accept this form of payment quite yet. I do look forward to seeing how this plays out in the future months and years."
Written by Bobbi Witt on January 7th, 2019
Answer Example
"I'm very familiar with cryptocurrency, and it's a very hot topic in the Revenue Recognition arena, which impacts accounts receivables. Cryptocurrency may not be currently recognized as revenue on our income statements when the payment is received, but the time is coming. I am eager to learn more about these forms of payment and how they will affect business accounting, overall."
Written by Bobbi Witt on January 7th, 2019
Experience
"I'm very familiar with cryptocurrency and it's a very hot topic in the Revenue Recognition area, which impact accounts receivable. Cryptcurrecy is not recognized as revenue on the income statement, when the payment is received. The payment of cryptocurrency is recognized as an intangible asset and the value of the payment at fair market value. These terms were established by the FASB."
Written by Bobbi Witt