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Top 25 Cost Accountant Interview Questions

Question 1 of 25
Why did you choose Cost Accounting rather than another field of accounting?
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Question 2 of 25
What was the most difficult assignment you have faced? How did you complete the task?
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"The most difficult assignment that I have faced recently was a company-wide audit ordered from our headquarters in Boston. We had to gather the required information in a very short period of time and, at the same time, continue our regular workload as per usual. Teamwork is truly what helped me to complete my tasks successfully. Also, I am not afraid of working overtime hours as needed."
As a cost accountant, you will often face difficult and challenging tasks. Share with the hiring manager how you are able to complete these tasks and face these workplace challenges with confidence.
More Answer Examples
Entry Level Example
"The most challenging point in my career so far was gaining a reputable and challenging internship. Luckily I was able to find an opportunity with a large firm in our city, thanks to a family connection. I realized through this challenge that it's essential to keep a positive and active network."
Experienced Example
"The most challenging time in my career was when the company I worked for was acquired. It was difficult because I needed to focus on the tasks at hand while realizing that I was likely going to be laid off. Unfortunately, that was the case; however, I will never regret working with integrity until the very end."
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Question 3 of 25
Are you a detail oriented person? Do you like to be organized?
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"I am highly detailed and organized on the job and truly, that is the only thing you can be when in this line of work. I was able to establish very good habits from the start of my career. When you speak with my previous manager for a reference, she will attest to my strong organizational skills."
As a cost accountant, it is incredibly important that you pay close attention to detail and remain highly organized. Tell the hiring manager about your abilities in these areas and be sure to include any feedback that you have received from previous supervisor reviews.
More Answer Examples
Entry Level Example
"My attention to detail is a point that I have been working on a lot this past year. I am meticulous but, in the past, have pushed my documentation back a little bit. It's something I am conscious of and continually working on."
Experienced Example
"Being organized is what I am known for! As a cost accountant, I cannot afford to be disorganized or submit messy work. I can very easily point out discrepancies in communication and reports, and will notice the small things. I think big-picture as well but have always had a knack for details."
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Question 4 of 25
How long do you see yourself working for our company?
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"I see your organization as a long-term fit for me. As you can see, I have a strong work history that includes minimal job hopping. This position offered is one that I have been on the lookout for, for quite some time, and I see it as a long-term fit."
The interviewer would like to know that you see this role as a long-term fit. What would cause you to stay in a position long term? Talk to the hiring manager about your previous tenure and discuss what motivates you to continue working for a company.
More Answer Examples
Entry Level Example
"I want to begin my career with a strong start, and stay as long as possible. I plan to learn as much as I can from your company, and your senior leadership. Your organization seems like a perfect fit for me, and I would like to stay as long as possible."
Experienced Example
"You will see from my background that I have great tenure in my previous companies. I plan to make a large impact on your organization, which includes a long-term plan. My average position held is nine years; almost unheard of in this industry."
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Question 5 of 25
Why do you feel cost accounting is important in our business?
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"I feel that efficient cost accounting is critical to your business. Managing the costs of manufacturing and production is incredibly important and will help provide you with the tools needed for proper management."
The interviewer would like to have the assurance that you take pride in your work and understand why your role as a cost accountant is essential. It is critical to display to the hiring manager that you know the significance of your role as a cost accountant. Do you feel that you play an active role in the success of your organization?
More Answer Examples
Entry Level Example
"I believe that a cost accountant is more important than many people think. We have multiple specialties and can create enormous cost reductions for nearly any business, in any industry."
Experienced Example
"Cost accountants are vital for any business, no matter the industry. My specific specialty is within discovery. I can quickly locate an internal spending issue and also interpret the data to determine the cause of the issue. Because I am so experienced as a cost accountant, I am well versed in making recommendations to remedy the issues."
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Question 6 of 25
Tell me about any disputes you have surrounding material costs for a particular project you worked on.
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Question 7 of 25
Are you familiar with Simply Accounting? Rate yourself as a Beginner, Intermediate or Advanced user.
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Question 8 of 25
Do you plan on furthering your accounting education?
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Question 9 of 25
What do you know about our organization?
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Question 10 of 25
What areas could you improve to be a better accountant? What are you currently doing to improve your skills?
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Question 11 of 25
Why do you believe you are the best fit to be our cost accountant?
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Question 12 of 25
Bring your experience to life for me and highlight some of your biggest wins in your career as a Cost Accountant.
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Question 13 of 25
Are you familiar with QuickBooks? Rate yourself as a Beginner, Intermediate or Advanced user.
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Question 14 of 25
When you suffer a setback, how does that emotionally affect you and your work?
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Question 15 of 25
Have you ever broken a confidentiality agreement?
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Question 16 of 25
How do you handle stress on the job?
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Question 17 of 25
What role do you usually take in team projects?
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Question 18 of 25
Why are you looking for a new accounting position?
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Question 19 of 25
What are your salary expectations?
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Question 20 of 25
What questions do you have for me about this cost accountant role?
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Question 21 of 25
How do you explain complicated concepts to those who may not understand?
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Question 22 of 25
How do you handle a larger than average workload?
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Question 23 of 25
Have you ever used an SAP or ERP program? If so, which one(s)?
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Question 24 of 25
Are you familiar with Microsoft Excel? Rate yourself as a Beginner, Intermediate or Advanced user.
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Question 25 of 25
How will you earn the trust of your coworkers?
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User-Submitted Interview Answers

Question 1 of 25
Why did you choose Cost Accounting rather than another field of accounting?
User-Submitted Answers
1.
Cost accounting allows is more challenging and offers more interaction between business units such as planning, product development, packing and assembly.
2.
I got into cost accounting because a I love to analyse numbers with the goal of getting result and to use the infprmation to make decisuions.
3.
I must interested on preparing estimate analysis everything deep, preparing reporting financial according to forcast.
4.
I have been an auditor, financial analyst, and then a cost accountant. When I started at the mint other than my studies I did not know anything about cost accounting. I had an amazing boss that mentored me and taught me so much over the years, and I really took a love to cost accounting and quoting.
5.
Basically cost is the only factor which gives you gain. Gain is basically involved in cost.
6.
I want to make carrier in Costing, Taxation & finance. Really interested to work on arriving cost of product, survey.
7.
It involves technical, quantitative and qualitative analysis which is my strongest area. And it gives me the opportunity to look for ways to save the company cost which leads to overall efficiency.
8.
Due to the diversity and the fast past, having a chance to utlilize my problem solving skills.
9.
I have always been good with numbers, because I enjoyed working with numbers - accounting has turned into my passion.
10.
Honestly, I enjoyed my cost accounting class when I was attending university. It is a challenging form of accounting but very enjoyable.
11.
Cost accounting provides a company with detail and analysis of the cost which will be provided to the customer. Should the cost be incorrect the company will lose. I enjoy the challenge of ensuring that the company will provide a quality product to the customer while making a profit.
12.
I've experienced financial accounting. This is a new challenge I want to give a shot.
13.
With a former background in Inventory control and Supply Chain, I found it interesting to watch a product form from the conception to delivery.
14.
Because measuring the unit cost and profit.
15.
Working with numbers gives me joy and I find that given the skills I already have I will be able to contribute a lot to the role.
Question 2 of 25
What was the most difficult assignment you have faced? How did you complete the task?
User-Submitted Answers
1.
Absorbing a complimentary product line into our already existing report structure for our inventoried parts via sales/distribution product. The new product line required work in progress calculation and followup analysis of the calculation to actual progress on the project.
2.
Inventory, and determines the variances due to production entry or recieiving the materials into the system.
3.
I have recently been tasked to lead the Loans team to map all processes and meet the company standards. The process authors were not reporting to me which meant they had other responsibilities. Setting mini milestones and constant follow up meetings to track update on progress as per our timeline really helped us pull through.
4.
I have never worked in the cost accounting field but in general it would have to be collections.
5.
Erp simulation. Prepared myself outside of class.
6.
We had a product we continually were losing money on for a long-time customer. We worked with production and engineering to determine at what point in the production process the breakdown was occuring. By resolving the problem we were able to produce a profitable product.
7.
Finalizing the financials for my current company for the first time. There were no supporting & the operations started 6 months prior to my joining.
8.
Creating a margin report for most for stakeholders to use in the bank.I completed teh task by involving myself, sometimes uninvited to the meetings and asking all the questions that needed to be asked.Without fear of 'what will they say'
9.
Dear Sir/ Mam, Please, find enclosed herewith my C.V. For your perusal and records. Just for a short introduction, I have completed my CA from Institute of Chartered Accountants of India in May,2012. Currently Iím working with " Orient Electric", Faridabad as a Assistant Manager & my past experience with "Insta Power Limited" is as a Assistant Manager.I expect a positive response ensuring you with the best of my services always. My professional details are enclosed in my C.V. My family Background (My wife is Cost and Management Accountant, she is working in MNC in Manesar Haryana). Thanks & Regards. Gaurav Kr. Varshney +91-9015607744
10.
Reducing cost in budget so levies could be at inflation level.
11.
When I was engineering cost accountant was asked to draw dificult g.
12.
The first budget statement that I drafted was the most difficult one but I engaged other user departments to lay out their requirements for the period and it worked out.
13.
I had to create templates for Basel 2 for 32 bank branches which was an intermediate stage before the process went automated.
14.
Why do you feel cost accounting is important ?
15.
I have had to reconcile one big account get to know it, sort out the queries although with assistance here and there from Supervisor.
Question 3 of 25
Are you a detail oriented person? Do you like to be organized?
User-Submitted Answers
1.
Yes, I am a very detailed person.
2.
Absolutely, extremely detail oriented.
3.
I am. I love to categorize the documents available on my table. It helps in easy reference.
4.
I love being organized as it makes everything easier.
5.
Over detail. Add and chage detail to make reading undersatand.
6.
Yes I am a very detailed person and I am highly organised .I want to do my things in a specific way and paying very high attention to detail to avoid any mishaps.
7.
Absolutely, I am a detailed oriented person and also like to be organized. Planning is the best way to improve the efficiency.
8.
Yes I am a detail oriented person and organised.
9.
Why do you feel cost accounting is important ?
10.
Yes, It provides a better working environment.
11.
Cost accounting is the area to minimize the cost of the product.
12.
I am a very detial person, I need to understand how, why things are done . I am very organized, but very flexible.
13.
Why do you feel cost accounting is important ?
14.
Yes of course, I want things to be done in an orderly manner and with perfection. So I organise and chart out things before done.
15.
Yes I am very much detail oriented person. For that I always ensure to prioritize my tasks and work accordingly.
Question 4 of 25
How long do you see yourself working for our company?
User-Submitted Answers
1.
For as long as this company has the job for me to do and they still need my service I would stay.
2.
Morn than companies expectation.
3.
I am seeking a long term career opportunity with your corporation that will enable me to to implement my education, experience and expertise in order to enhance and grow your business.
4.
I will be disappointed if I will not be working in your reputed company for more than 5 years.
5.
If you happy with me I will stay as long as possible I am not the type a person to keep change job all the time.
6.
I do not know because what is really matter to me is a job.
7.
As long as the firms has the need of skills.
8.
As long as I will continue to contribute positively and to learn new skills.
9.
I am so much interested working, I am camper when I am placed at your company. I will working till I learn & guide others through my knowledge.
10.
That is an interesting question, before the Mint my work history was only 2-3 years at each place. When I started at the mint I never imagined myself there for 5 years never mind 10. But I found a place that I really enjoyed working at and what I did.
11.
I will try my level best to get in a reputable position and deploy my skills and experience which makes a beneficial for both the company and me.
12.
I will try my level best to get in a reputable position and deploy my skills and experience which makes a beneficial for both the company and me.
13.
I will try my level best to get in a reputable position and deploy my skills and experience which makes a beneficial for both the company and me.
14.
Based on the conversations I had this company has ample opportunity to provide still maintain a more intimate culture, allowing for continued growth as a whole. This is what I am seeking in a company/employer.
15.
I have been fortunate to be with the group for 7 years now and plan to be within the group for as long as I continue to grow.
Question 5 of 25
Why do you feel cost accounting is important in our business?
User-Submitted Answers
1.
This role is very immportant to this role in a number of ways which include; ensuring products are tuged with resonable prices, identifying risks on time. An example of possible risks are; contribution getting eroded away by costs effectively the business sector might run on a loss. With al these factors in mind it implies therefore that this role is important for this business.
2.
Cost accounting is important as it forms part of budgeting to a certain degree and can be used as a point of referrence when making decisions on an activity.
3.
Cost accounting helps in preparing budgets which allow for a better and more systematic decision-making. It also ensures the reduction in production cost and maintaining product quality at the same time.
4.
Because in recent senario nothing is to secret from others. So to compete in the market by the company is to analyse the cost effectively.
5.
It helps in decisions relations to opearstion and future plans.
6.
As long as you need me, because once I do what I like I will stay.
7.
Every company is concerned about profitability. This is the key or usual indicator of good performance. One of the major elements affecting profitability is costs.
8.
Costing is necessary for determination of selling price.
9.
Its what I learn in college, its my carrear.
10.
Cost accounting is important because it is essential for inventory valuation which has a direct impact on revenue and COGS
11.
Cost accounting is important in any business because it assist in decision making.Weather to buy or introduce a new product range by calculating its profitability or contribution towards the company.
12.
Cost accounting is most important than any other department as it represents company financial position with profit or loss making business with all kind of forecast which helps business to concentrate & work on growing task.
13.
You are a manfacturing company therefore you need standards to know how much your product costs, and then what they are costing etc. you need a benchmark, so costing accounting is very important.
14.
Account for every expense that takes place in the business.
15.
Cost accounting allows production and operations a view of cost control for the product. For upper/executive level management, it allows data information to communicate regarding product viability, or insight to standards to which the business strategy has been built.
Question 6 of 25
Tell me about any disputes you have surrounding material costs for a particular project you worked on.
User-Submitted Answers
1.
My dispute was not on material but a product, were I asked the SCM officer why is that we seem to go for the service provider that are high in price but low in quality, that should a cost analysis I drawen up to show that using better quality at affordale price will go a long way both financialy and giving better service and products.
2.
Rather than dispute I should conversation to align with team. There was incorrect BOM with incorrect usage. Issue was explained to team & updated at system for corrective action & brain storming session was provided to arrest the error begin happen.
3.
I have unfortunately not worked on any projects as an accountant.
4.
I have not worked in cost accounting.
5.
There were none since I was into financial accounting. But I have always handled myself professionally when it comes to disputes.
6.
Had one dispute with a project manager but we always reach a decision amicably.
7.
Why do you feel cost accounting is important?
8.
I order furniture for the office as the office was not having adequate furniture when I arrive but then the tender got put on hold and we cannot purchase those materials.
9.
It is where the bom was done for a special material but a long material was used which has inflated the moving average cost of the product.
Question 7 of 25
Are you familiar with Simply Accounting? Rate yourself as a Beginner, Intermediate or Advanced user.
User-Submitted Answers
1.
I have made means to be introduced to the company software in my current business unit. I am by no means an expert on the system.
2.
Yes, I have taken classes and worked with Microsoft office for years.
3.
No, I'm not. But I'm pretty sure I'd be able to grasp it since it is Oracle based.
4.
Nope but I am eager to learn.
5.
Yes I have use different software, in oracle base and other.
6.
Yes I am familiar with accounting at advance level, I have done account at university and I sometime help my friens with it and I find it fascinating.
Question 8 of 25
Do you plan on furthering your accounting education?
User-Submitted Answers
1.
I am in the process of completing my Master degree in International business, which will help me ehance my knowledge on financial related issues. I also increase my knowledge on accounting.
2.
Yeas I am planning to further my studies because I feel it is important to continually study on this field to learn new ways of making things easier to do my work.
3.
I am always interested in additional training, and if an opportunity came up I would definitely pursue it.
4.
Yes I want to be a fully qualified accountant.
5.
I am currently writing my final exam for the CIMA operational level and will be completing my case study from July - August.
6.
Yes, I plan on getting my CPA this year.
7.
Yes, I've already enrolled myself for PGDBA & I'm also contemplating CMA
8.
I am currently busy with that and I believe the studies will asissit me in the cost accounting role.
9.
Yes studying towards my CIMA qualification.
10.
I would like to do my master busy with my honurs in financial management or in finance itslf.
11.
Yes, I am currently applying to Auburn for the masters of accountancy program and I plan on using Becker to pass the CPA exam.
Question 9 of 25
What do you know about our organization?
User-Submitted Answers
1.
As mentioned before I have been fortunate to have been with the group for 7 years, my number motivator to continue contributing in the success of this organisation are the values and culture of the organisation and or a personal note the endless opportunities to grow.
2.
Good values and a great culture with endless opportunities to grow. The number asset of this organisation it's the people.
3.
Financially the company is in great shape. It is also investing in expanding and making current location function even better.
4.
`That it is enlisted in Singapore Stock Exchange.
5.
Good company to work for.
6.
On web site and other source like my friend are in abroad tell me about idea of your org.
7.
I have researched a lot about your organisation its processes and where it intends to be placed in the global market in the next 10 years.
8.
I have researched a lot about your organisation its processes and where it intends to be placed in the global market in the next 10 years.
9.
The organisation has started in 2013 and the minister from finland has come to see how far it is. And it produces copper. It has started with 800 employees to at 600 in future.
10.
Adhere to state local environmental laws, enhance brand, superior quality, customer satisfaction and safety.
11.
Its is part of aveng group, it specalises wiht mining, steel.
12.
Yesterday I just google and try to understand about your business so not too much but yes I have a fair idea about you.
13.
Great organization and great to the employees. Great product and services offered to clients.
Question 10 of 25
What areas could you improve to be a better accountant? What are you currently doing to improve your skills?
User-Submitted Answers
1.
I do not want to specialize in any accounting function, my aim is to be a well rounded accountant that does not spend 2 years or more doing the same thing.
2.
Enhancing my knowledge further by learning.
3.
Excell by taking extra courses and being able to apply the knowledge.
4.
Cost optimisation I think is a key area I need to improve considering the current economic environment.
5.
I do not have anything to improve on but I would like to work with accounting books, as I am just a payroll administrator.
6.
More overall knowledge, research or class.
7.
I going to attend a data management course in 2 months time.
8.
Everyday I learn some thing new I tried to update me that what is going on in the world.
Question 11 of 25
Why do you believe you are the best fit to be our cost accountant?
User-Submitted Answers
1.
I have extensive cost accounting experience from my last position, where I was responsible for all costing for a company of similar size and sales volume. S
2.
I qualified and I have experience I have.
3.
I am always looking for ways to improve the way I do things and study to improve my knowledge to keep abreast with the current standards.
4.
I have an inquisitive mind and will always looks for ways to improve.
5.
My eagerness to learn and adaptability.
6.
I have a very keen interest in costing and management accounting I want to assist management in making key and informed based on the quality of reports I would have provided.
7.
I have work with people, I have good communication skills, I am problem solver and I am good in analyzing. To be a best candidate I have studied and I want to pursue in this career. I believe that all 10 years experience I have and educational experience and helping out my friends have showed me that I an achieve and do what my abilities push me to.
8.
Desire for growth with the company, attention to detail, reliability and flexibility.
9.
Attaintion to details and very good with analysising.
10.
Not the best one but I will give my best.
Question 12 of 25
Bring your experience to life for me and highlight some of your biggest wins in your career as a Cost Accountant.
User-Submitted Answers
1.
Worked well in the role as management accountant but carrying out the functions of costing of Cost Accountant such as reproting forecasting and budgeting and ensuring accurate records of cabin crew costs and their completeness.
2.
Am 33yrs this giving me about 22yrs were by I would start my retirement programme, I see myself working a munimum of 6yrs on junior position and the rest 16yr on middle and management possition in the company.
3.
Basically I will cost my Purchase & Component level costing at system, will be working for Forecast & Budgeting. Also working for month close activities ensuring Forecast are achieved.
4.
I unfortunately have not worked as a cost accountant before.
5.
I'd gladly in a few months time.
6.
My work involves project costing, preparing budgets for the company, cost optimisation strategies, and reviewing costs and tariffs for different products.
7.
When I was a procurement clerk, I have to invite companies, I have to make sure they deliver the materials on time. like on client come to me and beg can you please to talk to your boss as I willl be late with delivering of material on net week Tuesday so that I can get a week in advance to delay the delivery till next week Thursday. I actually have to see my boss and tall to him so that he agree to give this client the week he needs to get things together. I came back to the client and I told him you have that time you need do not disappoint me after all I went to beg for you. But than delivery was done.
8.
Indentifying cost services by reducing unnecessary cost.
9.
It is very important to motivate youself in life.
Question 13 of 25
Are you familiar with QuickBooks? Rate yourself as a Beginner, Intermediate or Advanced user.
Question 14 of 25
When you suffer a setback, how does that emotionally affect you and your work?
User-Submitted Answers
1.
Asking for help is a big part of my working life because I prefer doing things right the first time unlike wasting more time trying to correct something that could've been done right the first time.
2.
Definitely I would rather be thought of as stupid and learn and advance in my career than have pride and stay stagnant.
3.
Definitely I would rather be thought of as stupid and learn and advance in my career than have pride and stay stagnant.
4.
Definitely I would rather be thought of as stupid and learn and advance in my career than have pride and stay stagnant.
5.
I always ask for help as you know one head is better than one.
6.
If I am unsure I will find correct answer before moving forward.
Question 15 of 25
Have you ever broken a confidentiality agreement?
Question 16 of 25
How do you handle stress on the job?
Question 17 of 25
What role do you usually take in team projects?
Question 18 of 25
Why are you looking for a new accounting position?
Question 19 of 25
What are your salary expectations?
Question 20 of 25
What questions do you have for me about this cost accountant role?
Question 21 of 25
How do you explain complicated concepts to those who may not understand?
Question 22 of 25
How do you handle a larger than average workload?
Question 23 of 25
Have you ever used an SAP or ERP program? If so, which one(s)?
Question 24 of 25
Are you familiar with Microsoft Excel? Rate yourself as a Beginner, Intermediate or Advanced user.
Question 25 of 25
How will you earn the trust of your coworkers?

About Cost Accountant

August 28th, 2017

Cost accountants collect, study and analyze data and audits to help businesses determine the total costs of their various business activities. These may include the cost of labor, raw materials, equipment or inventory. They generally work in the company office but are often required to visit the company's manufacturing units.
The minimum educational qualification required to become a cost accountant is a bachelor's degree in accounting with a strong background in cost systems. Outstanding analytical, excel, problem-solving and math skills along with a sound understanding of accounting principals are essential requirements of this role. Having some work experience is a big factor in getting hired. If you are a fresh graduate, you can get the necessary experience by completing an internship.
Prospective employers will want to know if you have had any experience in this field and if you know exactly what the job entails. They will also want to know about your strengths and weaknesses as they relate to this specific role. If you have any weaknesses, are you doing anything to work on it? To see more questions that are likely to be asked at an interview for cost accountants, go to Mock Questions.

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