Entry Level Accountant Mock Interview

Practice 25 Entry Level Accountant interview questions covering journal entries, reconciliations, and financial reporting fundamentals.

Question 13 of 25

What is an accrued expense?

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Brian Schuchart

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

This question tests your ability to explain a basic concept of accounting. Under the accrual method of accounting, an accrued expense arises when an expense is incurred in the current period but will be paid in a future period.

Brian Schuchart

Brian Schuchart is a CPA and Senior Finance Business Partner. His professional experience includes senior management roles with NBC Sports, Virtual Health, and the Children's Hospital of Philadephia.

"Accrued expenses are very common in accounting, and arise when an expense is incurred in the current reporting period but won't be paid until a future period. A common example is accrued bonus, where expense is recognized throughout the year even though the bonus is typically paid once per year."

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