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Top 30 Project Accountant Interview Questions

Question 1 of 31
What steps do you take to keep a project within budget?
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"I use a strategic approach by anticipating, and keeping track of, all upcoming expenses. I keep a record of all receipts and update my reports on a regular basis to ensure the most up-to-date information is easily accessible, enabling me to be prepared should an unanticipated expense be required."
Provide the steps you took or would take to ensure the success of a project.
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Question 2 of 31
How have you monitored, or would you monitor, the performance of your team?
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"I haven't monitored the performance of any team, however, I would meet up with them on a regular basis to ensure they are meeting all expectations, and would conduct performance reviews should expectations not be met. The performance reviews would address areas needing improvement and a timeline for the employee to prove himself, at which date I would meet with him/her again to assess his/her improvement."
Tell the interviewer what you have done or would do to monitor and ensure your team's performance.
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Question 3 of 31
How do you stay organized as an accountant?
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Question 4 of 31
How will working for us help you reach your professional goals?
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Question 5 of 31
Describe the systems you have in place for keeping track of assignments given to staff members.
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Question 6 of 31
To confirm I have the most updated copy of your resume in hand, please confirm your highest degrees granted and the years of obtention.
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Question 7 of 31
How would you handle disputes with other employees in different departments about costs?
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Question 8 of 31
Where do you see yourself in 2 to 3 years from now, or where would you like to be?
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Question 9 of 31
What differentiates you from other accountants?
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Question 10 of 31
What areas of accounting do you consider your strongest and which ones are you the most passionate about?
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Question 11 of 31
Tell me what your greatest weakness is, and what you are doing to improve yourself in that area.
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Question 12 of 31
Please provide an example of a situation you were in with a difficult and/or dissatisfied client and how you resolved the situation.
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Question 13 of 31
How do you determine accurate labor costs for a particular employee that has worked on several projects?
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Question 14 of 31
Provide an example of a project you had to complete in a short period of time, and what you did (alternatively, would do) to successfully complete the project in a timely fashion.
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Question 15 of 31
How would you come to a resolution disputing material costs for a project that you shared materials with?
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Question 16 of 31
How do you prioritize when you have multiple deadlines to meet?
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Question 17 of 31
How do you stay on top of regulation changes in the financial industry?
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Question 18 of 31
What is an audit query?
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Question 19 of 31
Why did you choose to pursue a career in accounting?
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Question 20 of 31
Tell me about yourself generally and your accounting experience specifically.
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Question 21 of 31
Have you ever worked on a project that lasted multiple years?
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Question 22 of 31
How have you implemented the recent tax changes in your company?
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Question 23 of 31
Tell me about your experience with a difficult superior. How did you handle the situation?
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Question 24 of 31
Are you planning to obtain your masters' degree (where applicable, i.e., if not already listed on your resume)?
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Question 25 of 31
What is the largest portfolio you have been responsible for, preferably in a project accounting capacity?
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Question 26 of 31
Please confirm when you received your Certified Public Accountant (CPA) or Certified Management Accountant (CMA) designation, or alternately when you plan on receiving one of these designations.
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Question 27 of 31
Tell me whether you ever had a project go over budget, and how you managed the situation.
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Question 28 of 31
Where do you see yourself in 5 years from now, or where would you like to be?
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Question 29 of 31
On a scale of 1 to 10, rate your proficiency level with respect to Quickbooks, Sage and Simply Accounting.
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Question 30 of 31
Please tell me a few of your greatest strengths.
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Question 31 of 31
What do you do to improve the communication channels within a team?
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User-Submitted Interview Answers

Question 1 of 31
What steps do you take to keep a project within budget?
User-Submitted Answers
1.
Firstly to try and understand the causes and then to discover if there are any mitigating actions that can be taken, including cutting cost in other areas or analysing projects critical paths to see if dead time can be used more effectively. Can we charge the customer more - was it there actions or requests that have caused the overrun. It's important to have regular reviews even if everything is running smoothly to catch problems before they occur if they have a financial impact.
2.
I call the attention of the project manager to request approval from the donor/grantee on the excess on the budget. Monitor and control request for disbursements.
3.
Look at variances and understand them. Ascertain that the actuals are correct. If correct communicate it to the budget lead, if it is possible to revise budget.
4.
Actually I will try to follow the following procedure: - control & monitoring my expenses - trying to maximize the benefit of the goods. - coordinate with the project manager to make our workers happy to raise them producer to finish the job before the planning time - I will try to find alternative materials with low price complying to the project specs.
5.
Ensuring that you keep your expenses and commitments captured and maintained timely in the system. This will at least enhance decisions on whether you request for reprogramming or you use other cost saving tactics.
6.
I first review the situation on ground as in reasons for the variations. I compare the budget with the actual and investigate the factors for the variations. I ensured effective cost control and agree price with vendors ahead of time.
7.
Stakeholders meetings should be held to handle overly budgets. scale down on the items budgeted.
8.
Analyze cost, understand reason for increase, find lean processes to reduce costs.
9.
In this case I am going to write report abut insufficient budget for implementation of this project to finance manager and project manger.
10.
At my last management position I was given a strict budget to operate with. There were three specific categories which I needed to monitor and keep under budget. Those were food cost, liquor cost and labor cost. The chef and I agreed to have food delivered multiple times a week so the inventory was continually turning over and could be better monitored with less in the walk-in cooler. The liquor cost was bit more challenging as greater discounts are given when you purchase in quantity, however, the ownership didn't authorize us to keep large amounts of inventory on hand as that would skew some numbers. In response to that I still purchased in bulk but had the distributor keep it stored at its warehouse and requisitioned as I needed it. This kept the on hand liquor numbers down while allowing us to utilize the discounts offered by the company. Finally, labor cost had to be monitored at all times. We upgraded our POS systems which allowed management to run labor reports throughout the day and send people home as needed.
11.
At the last restaurant I worked at I was responsible for staying within budget in a few categories including food cost, liquor cost and labor cost. Food cost was an issue because we were only receiving orders once a week and some items would spoil. There was also an issue with theft. To resolve this we (the chef and I) decided to order food twice a week to keep less on hand. We also developed a system where we locked up the more expensive items in a cage in the walk-in cooler and also put a lock on the freezer so cooks would have to ask when they needed those items. Labor cost was an area we needed to monitor closely. It was harder in the beginning because we didn't have a software program to assist with this. We had to basically do an eye test with sales and how many people were clocked in. I kept pushing for a more modern POS system and eventually the ownership caved in. With the new system we could monitor real time labor costs and send people home as needed.
12.
I will investigate the sources of the project of being over budget: due to internal estimating e, or job site issues (
13.
I tried to do a cost analysis and give first priority on major items while reducing or cost cutting on other expenses to enable adapt to the actual budget.
14.
By monitoring and evaluating expenses weekly.
15.
Continually forecast the budget. A project run without frequent budget management and reforecasting will likely be headed for failure. Why? Because frequent budget oversight prevents the budget from getting too far out of hand. A 10 percent budget overrun is far easier to correct than a 50 percent overrun. Your chances of keeping the project on track with frequent review of the budget plan is far greater than if you forecast it once and forget about it.
Question 2 of 31
How have you monitored, or would you monitor, the performance of your team?
User-Submitted Answers
1.
I monitor the overall forecast Accuracy.
2.
I have weekly meeting with my assistant, to see where we are. I have a monthly meeting with the team leaders giving feedback and raising issues.
3.
Use of performance appraisals. I have noticed that one should always have a clear understanding of TORs, work plan and the structure as a whole.
4.
I have the schedule of everyone on my spreadsheet. I maintain regular meeting and communicate effectively with my team. I try to meet them personally especially the introverts amongst them.
5.
Firstly am going to put plan and implemented this plan step by step.
6.
I try to use technology, when I can, to keep tabs on my team. But more importantly I like to use my communication skills to monitor the performance of team members. I minored in Communications and I find it to be a vital ingredient for project success. The power of dialogue I think is underestimated. I realize that some personality types communicate less than others and I certainly don't want to micro-manage my team, but staying in contact with members and getting real time feedback is the best way to find flaws in the plan and get a sense of how realistic the time budget is. This also shows team members that you aren't afraid to get your hands dirty either and that you value your team and are invested in their success.
7.
I always set achievable and relevant targets with review dates on the performance to view the actual and set resaults.
8.
It was great since they have never let me done in my work and am always in time with my reports.
9.
I gave them task with period then after it I check their performance with suitable conditions.
Question 3 of 31
How do you stay organized as an accountant?
User-Submitted Answers
1.
I have my calendar, I make daily work list and check list and get organized.
2.
By Maintaining secrecy All documents to be kept confidential never discloses any information to anyone.
3.
I parotize my work according to deadline.
4.
Completing work with the time frame provided, all daily work should be up to date and also ensure accuracy to avoid rework or any other unnecessary work. In terms of documentation, ensure all supporting documents are filed for easy location when needed.
5.
I believe that I am very organized person with a good time management, I like to prioritise my job and make sure that I provide the best service. I like to check my job and make sure that results are accurate.
6.
Same way as anyone else does. I keep lists of tasks including longer term lists - such as I'd like to Anaya's a trend etc. That isn't required immediately. I use outlook tasks and email filing - I try to avoid paper note taking and printing so I don't lose paperwork.
7.
I have excellent time management skills, and I know which to prioritise.
8.
I have a work diary. I like to update it at the end of the day and read it in the morning over breakfast. This helps me plan the day ahead and keeps me organised. Of course there will always be further tasks or queries allocated throughout the day but this gives me more control over my projects and responsibilities.
9.
Keep repriotising work putting most important on top.Deadlines need to be met but accuracy is equally important. If mistakes are made it will take longer to resolve problems. Keep stakeholders informed.
10.
Keeping my office tidy - make notice to my self in order to dont miss any requirement for the project.
11.
Put priority on the top and in the line of order for the rest.
12.
I cannot overemphasise on systems. The system should make it easy for one to pick up human error.
13.
I make planning my priority. I have keep list of what to do on my jotter and spreadsheet. I maintain calendar to keep abreast of event.. It enables me to organize and monitor my team.
14.
Ability to understand my job discrpition.
15.
I believe that organization is vital to my success as an accountant. With a large case load and other required assignments I need to utilize any and all resources available to me. We have an internal software program called Gentax which I primarily operate with. I use the internal time management function to break up my day into budgeted time slots. I don't always stick to it firmly, but it definitely helps. I also use a desk blotter and Microsoft Outlook calendar to help organize tasks. Finally I have a dry erase board that I use to track short and long term goals.
Question 4 of 31
How will working for us help you reach your professional goals?
User-Submitted Answers
1.
I love to work and workoholic. I can add value to your esteemed organization.
2.
As per the company requirement I am fulfilling all criteria. I will put all my effort for the company sake. I believe in team work.
3.
In near term, I would like to be part of team and understand the role and responsibilities. Perform best to meet the expectations of management.
4.
Have the qualification you are looking for in project accountant eg maintaining project budget and producing progress claims. I am team player. I take directions and have the desire to be successful to produce excellent results.
5.
I have what you required for this job education background, expereince in full cyle of accouting, skills necessary to perform the job.
6.
I currently work as a project accountant and have the experience besides my qualifications. I understand the steps and concept of project accounting through my experience of which I feel may be of by advantage.
7.
I have good experience in project management.
8.
I think that I am great match for the position, I have an experience and skills that you are looking for and I am confident that I will do a good job on this position.
9.
I am very keen on this role. I've been working on business finance for five years and relish the opportunity this offers to shape processes and procedure. Plus your projects sound fascinating so I'd like to know more about them. I've got big company experience and can bring multiple experiences to bear on these processes but I'm not institutionalised.
10.
Because I have the Qualifications and the experience and I am a go getter.
11.
I am the best candidate for this position because i've been doing project accounting tasks for the past year. I am able to bring my experiences and everything i've learned to this new position here. I'm eager to learn and take on new challenges to develop my skills and reach personal and company goals.
12.
I have the relevant past working experience, skills and qualification.
13.
I believe I am the best candidate because I bring 2 and a half years of experience in not only just billing, but also project reconciliation and cost analysis. I have done some of the responsibilities outlined in the job posting. I have not done some of the responsiblities outlined, it would not take me long to learn and comprehend the task.
14.
I have previous experience of working at the University of Oxford and using Oracle financials. I have 6 months management accounts experience and have just over a years experience working in research projects. I have built strong working relationships with many other employees of the university and have many of the characteristics needed to fit into the role as well as the culture at IT services. As this role was more or less identical to my role held at Brookes I am confident I could hit the ground running and provide an excellent service from day one with very little training. I can communicate financial information to project managers with either a financial or non financial background and will provide all around exceptional service. I hold the University in high regards as it was my first employer and if successful will stay in this position long-term. I have obtained a degree in accounting and finance am level 4 AAT qualified and have had experience working as an auditor as well as providing auditors with the required information regarding auditing of projects. I used to carry out my job at Oxford Brookes with minimal supervision heading my own meetings, having the highest authorisation limit within my team and taking on more than my fair share of projects.
15.
I am committed, flexible and would seek to align the organisation objectives with mine.
Question 5 of 31
Describe the systems you have in place for keeping track of assignments given to staff members.
User-Submitted Answers
1.
Spreadsheet weekly tracking.
2.
That is done by pms not me.
3.
Describe the systems you have in place for keeping track of assignments given to staff members.
4.
I have my inbox, schedule calendar. Deadlines and follow-ups. I use the email notification. Flag and put tasks in categories.
5.
Following up with them - encourage them to finalize the issue concise and help them to find out the solutions and im believing to work as group.
6.
Outlook calendar has been the most dependable so far.
7.
I maintain spreadsheet and calendar most times.
8.
I like to have a paper or digital trail of what I have communicated to staff members. In the restaurant business staff members don't have computers so I would verbally followup with them on assignments and use a dry erase board to assign tasks. In my current role as an auditor I work with many taxpayers who need to submit tax documents, correspondence from employers and other stuff as needed. I always annotate their accounts with what has been requested and what has been received. I also create a folder for each taxpayer and keep track of the entire process within the folder including copies of emails, summaries of conversations, request and copies of documents received. I would use a similar approach as a project manager to keep track of assignments given to staff members.
9.
I will keep it in excel as a soft copy and also in hard copy with file.
Question 6 of 31
To confirm I have the most updated copy of your resume in hand, please confirm your highest degrees granted and the years of obtention.
User-Submitted Answers
1.
I have Level 2,3 & 4 AAT and a degree in Accounting and Finance reading a 2.1 and I am exempt from the first 7 ACCA exams. I am very dedicated to finishing my professional qualifications and am planning to start studying at the weekends once I have settled into my new role, paying for the qualification myself.
2.
Qualified accountant with extensive experience in both management and financial accounts.
3.
Bachelors degree in finance.
4.
I graduated from Alexandria university - grade good- 2005 & I got scholar ship from ministry of defense in american language course for 6 months also I got ICDL from New Horizon institute Alexandria.
5.
Still learning in school.
6.
Degree in Accounting, Informatics and pursuing an MBA
7.
I studied accounting. I am a member of many professional bodies. I am completing my Msc program in financial manament by December 2016.
8.
I was educate my primer school and seconder school in kenena privet school, I was graduate from Sudan university collage of business study my specialization is accounting.
9.
My education has been a continuous journey. My first experience with college gave me two associates degrees; one in culinary arts and the other in hotel management. After some years in that industry I returned to school to obtain my Bachelor's Degree in English - Creative Writing. I really enjoy writing and had the pleasure of working as a writer in different capacities for some years while continuing to work in restaurant management. Having become tired from working two jobs I decided to pursue my masters and enter a more professional work environment. I hired on at Taxation and Revenue and have been there for three years now. I completed my Masters in Accounting a few weeks ago and am ready for the next chapter of my career.
10.
I consider my education to be a continuing process and plan on keeping it that way. I first received two associate degrees; one in culinary art and the other in hotel management. After some years working in that industry I decided to pursue my goal of getting a Bachelor's Degree. I almost went business degree but switched majors a few times and finally decided on English. I received my Bachelor's Degree in Creative Writing and had the pleasure of working as a freelance writer for a number of publications and websites. During those years I continued working in restaurant management and wrote on the side. Finally I decided to pursue a Master's Degree in Accounting because I always enjoyed doing the books and crunching numbers. I hired on at Taxation and Revenue and enrolled in school three years ago and I'm happy to announce that I have completed the program a few weeks ago and my degree should be arriving in the mail any day now.
11.
I graduated from University of Greenwich being a bachelor degree of accounting and finance holder with second class upper. I also graduated from Uitm being a diploma holder majoring in accounting.
12.
I am a holder of a degree business administration, hold an accounting professional qualification and currently dong master in business admiistration.
13.
Intermediate and the most challenging course was cooperate accounting.
14.
My post secondary education is commerce background with computer applications. Accounting is my favorite. Because I love calculations . Tax calculations are very challenging to me. Of course I love all these calculations..
15.
Costing was my favorable course . Accounting 2 was more challenging.
Question 7 of 31
How would you handle disputes with other employees in different departments about costs?
User-Submitted Answers
1.
Yes but I always try to find the solution and make the employee to inderstand the situation.
2.
Yes but I always try to find the solution and make the employee to inderstand the situation.
3.
Yes and I always try to resolve the issue and make things easy to understand for other employees.
4.
Yes, but an amicable solution always comes where I show them the need to conserve costs and how to monitor their own costs.
5.
Have not worked on costs but have solved the situation with other department.
6.
Yes, but everytime a dispute rises I always find a way to met our minds towards better ends.
7.
Yes, but I have always found ways to resolve the issues.
8.
No sir there isnt any disputes.. You can say arguments with other staff but not even close to any dispute.
9.
Sure, project manager and me.
10.
Yes, at certain time this arise by as usual they are always resolved within the day.
11.
No, I havent but I have to admit that I dont have that much experience.
12.
Internal disagreements are rare but have occurred between the other divisions. Margins can be difficult to assess from another division so it's hrs to see vfm. We had one case where 1/2 the cost was coming directly and 1/2 through another division and the discrepancy is prices is so huge that it always causes questions as we could be so much more profitable - However ultimately this doesn't affect hp's bottom line and de I have to ensure that this isn't the main focus on looking for cost savings.
13.
I have had a few disputes over costs charged to projects but this was just a matter of forgetfulness by the project manager. Once I had provided the backing documentation with an explanation of why the costs were incurred the dispute was resolved.
14.
Not in my current organisation. However I emphasise the need to ensure that PO are matched with invoices. Any variances need to be flagged.
15.
Fortunately I have worked in an environment where costing is done 2/3 years prior. This has enabled me to run costs against cost codes.
Question 8 of 31
Where do you see yourself in 2 to 3 years from now, or where would you like to be?
User-Submitted Answers
1.
Like any one else, I look for a long term relationship with the company. After giving considerable amount of time, if there are opportunities to grow within the company, until then.
2.
Provided it provide opportunities to grow in my career I would stay in my department until I will retire.
3.
It solely depends on Comapny.
4.
Well, I have had much interest in working in a hospitality industry and since this is a great opportunity, I would like to stay until my contract expires and would like to extend should I get an extension.
5.
I hope that it will be as long as possible.
6.
As long as I can I can contribute in the achievement of the dpartment's.
7.
For at least the next five years, I have held many jobs and I love the culture of the university and its staff. If I did leave the department it would potentially be to progress on to a role with more responsibility in the university.
8.
I can see the role covers all aspect of accounts, I would love to continue working as long as I can unless the department lead see that I can be of further help in another area, that will support the department I am working for.
9.
For as long as am not bored.
10.
As long as my contract allows me. But I will be pleased if it can be renewed.
11.
I hope to work in the accounting department for many years. I believe that I have a lot to bring to the table but more importantly I understand that I have much to learn in this field. In five years I hope to still be a project manager, albeit a more senior one, who can share and help develop junior staff members. This is a wonderful company to work for. I am aware of all the good it does in the community and I'd be proud to be a part of that.
12.
I want to work with you untill your company exits.
Question 9 of 31
What differentiates you from other accountants?
User-Submitted Answers
1.
Contracts evaluation/Subcontracts accuracy.
2.
Using my knowledge I can provide great accounts and helping the company achivening the goal.
3.
I will try to work harder than that of other accountant in the project by analyiing all the reports that directly related to project accounts work.
4.
I will not only be an asset to your company in accounting field but also in other decision making processes. This is because my last job involved designing projects thus I have gained insights in the area.
5.
Attention to detail, just need to be familir with system no training, and financial role.
6.
I will do my duty honestly and extra hour also if company ask me to do so but how can I say about others what they will do or not.
7.
Committing myself towards work.
8.
I'm sure many other accountants have my skills but I can bring my general skills - I'm a fast Learner and am self teaching, I'm easy to get along with and build up a rapport with business partners, I am dedicated and loyal. I work hard and will take on challenging tasks with enthusiasm.
9.
I can bring to your company the expertise I had working with an international NGO managing projects with EU and USAID.
10.
I can build great working relationships with other colleagues at the university. I can ease the burden of staff having to train me as I have already held a similar role. I am familiar with the systems and management accounts and I can confidently communicate with project managers needing very little supervision.
11.
I am committed and hands on. I would like to interact with other department roles, learn the business. I am a volunteer trustee in a charity and I can learn and bring on other skills that I learn from my network that can help the department.
12.
I come with Program management experience for more than 2 years, as well as my informatics skills have proven very handy when it comes to projects.
13.
I am committed to hard work and passion for excellence. I am a professional and add value to organization. I have managerial skills and committed to client service.
14.
Given my diverse career background I think I can offer some things that other accountants can not. For example I believe my extensive experience in customer service has given me great strength in managing and communicating with people. I'm not afraid of confrontation and I thrive in communication. I will stay in contact with my team at all times so they feel they have the resources necessary to succeed. Secondly, I bring good experience as an accomplished writer. I know how to develop informative and easy-to-follow hard copy as I've developed training and procedure manuals as well as company newsletters and interesting blogs. I know how to engage a reader, even with drier types of material. So I believe creating accounting white papers will not be a problem for me. Finally I bring a fresh perspective in terms of accounting. I haven't been cloned by another accounting department so I can be trained to do things the best way PNM deems fit without friction from previous methodologies learned.
15.
If company needs extra time from my side I will give because I always want to provide my best services.
Question 10 of 31
What areas of accounting do you consider your strongest and which ones are you the most passionate about?
User-Submitted Answers
1.
Analysing cntract bills and profiling best contract to be sorted for.
2.
IAS 11 - Construction Contracts.
3.
Auditing and preparation of books of final accounts.
4.
Well, I understand the concept of accounting but in terms of a particular area it would be accounting for projects.
5.
I believe that I am good at Financial Accounting –which includ month, quater and year end journal entries reconciliation, preparation of financial statment and analysis Month, Quarter, Year-end journal entries, reconciliations, sometimes financial statement preparation and analysis Management Accounting – BI, Budgeting, forecasting, financial statement preparation and analysis.
6.
I'm good a resolving system errors Or at least identifying the cause. I enjoy the analysis areas where you see a different way of looking at the data which illimunates an issue - eg analysing risk and cont budgets compared to labour costs - Often majorly out of sync which creates forecasting errors.
7.
Cash management and financial reporting.
8.
Management accounts and project accounting are where my major strengths lie but I am also very good at financial accounting.
9.
Reconciliation, costing, budget and financial analysis.
10.
I am more proficient in taxation then I am at financial accounting, however, at my current capacity as a tax auditor I regularly have to review the financial information of companies to help make my determinations. I am familiar with financial statements and have been trained to prepare consolidated financial reports. I am a quick learner and am confident I can perform the tasks necessary for this job with some direction at first.
11.
In book keeping. Invoices with reconciliation, bank reconciliation, aging of payable and receivable. Cash budget. Petty cash. Income and expense financial statement.
Question 11 of 31
Tell me what your greatest weakness is, and what you are doing to improve yourself in that area.
User-Submitted Answers
1.
When bored I can be lazy and procrastinate which is why I'm looking for a new job. But wothin my current job I'm trying to use down time productively so I don't get bored- identifying ways to streamline my job To the extent someone else can do it! Trying to identify value add activities and taking advantage inteaining.
2.
Sometimes I find it hard to let go of projects and can over burden my self with an intense workload. For example all of our projects were split into cost centres I looked after half and so did my counterpart. Although we shared the cost centres evenly by luck of the draw I had substantially more projects but I didn't want to give them up as I felt I have built a relationship with my project managers and I felt asking for help would look like a weakness. I continued to get through all the work but it left me frustrated at times. I did eventually ask for help in redistributing the projects to ease the burden on my self and to offer a better service to my project managers. This was a real turning point and I realised that my only weakness was not letting my counter part help me with my increased workload. This also improved her confidence and enabled us to work more effectively as a team.
3.
I strive to meet deadlines, and often work over to complete a task. I often have to keep repriotising my work and accept that there are times that I would not be able to meet it and just need to let those affected know if I have difficulties.
4.
I get too engrossed with my work. I try to lossen up and take a break where I feel I'm overworking myself.
5.
I have found that all the Excel training I took during college has washed out of my brain. When I first came on with the state I knew very little on how to work with Excel. I was a writer after all and had to only work with Word. I quickly realized that I had to improve my Excel skills so I purchased an Excel book and have been using that to help me with some functions. I now consider myself moderately skilled with Excel but know I need to improve. During Graduate School I didn't have extra time to take an Excel class but now that I graduated I plan on taking an Excel class for audit to raise my proficiency level.
Question 12 of 31
Please provide an example of a situation you were in with a difficult and/or dissatisfied client and how you resolved the situation.
User-Submitted Answers
1.
Emotional intelligence win win approach.
2.
Calmly, try to understand there issues properly so they feel heard but also be sure of my own position so I can defend myself. Examples - Neil not wanting me to go.
3.
How do you handle difficult clients?
4.
Firstly I would ask what difficulties they faced and see if I could resolve there problem as soon as possible. I would choose my words carefully ensuring I did not put any further strain on our working relationship. I would always be on hand and ensure that I was providing a service far beyond what was expected of me in order to gain respect and trust needed to achieve our objective and work as part of a team.
5.
Understand the clients problems. Listen and explain. Admit outright if I have made a mistake and give assurance that matter is being dealt with.
6.
Trying to satisfy his request and trying to keep my relation good with him - I dont have culture of loosing client - work is work.
7.
I listen ... And let them speak.
8.
In my world, there is nothing like a difficult client. People react in various ways for various reasons, once you capture or understand the other person's logic or level of IQ, you are in total control of the situation. For me the challenge would be how to understand the client without losing valuable time. A few conversations which may not be directly linked to the issue at hand helps you appreciate the other person, by the time you approach the "difficult client" you get to propose a solution that will leave both of you happy.
9.
I have come across different clients-stubborn, intimidating, angry clients. I first ensure I am well in control of my emotions then I listen attentively to their complaints showing empathy in all cases. I proffer solutions where I can or humbly request if I can get solutions from a superior officer.
10.
Difficult clients are a daily part of my job. Again I find that my communication skills come in handy when presented with these types of situations. The first thing I do is let the client speak. Before they called me or came into my office they stewed on the subject matter and have created this internal tension that needs to be released. I get that. So I let them have the floor and try to get an understanding of what the issues are. I make notes and then try to communicate to the client what our point of view is on each issue and what the possible resolutions are. I find that if you allow them to speak and show empathy towards their situation they will be more receptive to your responses. It really all goes back to the golden rule, treat others how you want to be treated.
Question 13 of 31
How do you determine accurate labor costs for a particular employee that has worked on several projects?
User-Submitted Answers
1.
The labor costs are usally pulled out from a payroll system. Particular employee should be coding his/her time according to the cost code worked.
2.
By looking at the expences for the particule projesct and the labour hours involte in the eacch project.
3.
Check the previous amounts he/she earned per hour add any increment as per contract he/she signed with the company then multiply with the number of hours he/she worked.
4.
Time track data is the key and total employee cost and divide by projects.
5.
This can be determined through the time cards of each employee or attendance sign in at the project site.
6.
Labour is booked specifically to projects so this hasn't really been an issue I'm faced with. It's more the opposite problem that a project manager will assume they are getting 100% of someone's time and so does another but they don't necessarily compare their data. The is really difficult to spot but can usually be unearthed eventually by looking at the bookings and also by ensuring reviewers such as finance see projects in groups where the same people generally work.
7.
On how much time she spent on each project.
8.
I would establish a per hour rate and then do a percentage on that rate attributable to each project.
9.
I will need to work out time spent on other projects. Work out the salary and apportion base on time spent on the project.
10.
Time allocation or the level of effort against the total time spent in a day.
11.
I would have the employee breakdown how much time was put into each project to allocate the proper labor costs to each one. I think instilling time management skills in staff members is absolutely imperative when in project management. It not only informs the manager of employees progress but also gives the employee a visual tracker of progress made. Giving staff members a time budget also is helpful to both the staff member and the project manager.
12.
First I will check employee expence then will give him more than his expense so he can be motivated from us.
Question 14 of 31
Provide an example of a project you had to complete in a short period of time, and what you did (alternatively, would do) to successfully complete the project in a timely fashion.
User-Submitted Answers
1.
Project A . Infact I didnt work but just watched it. Its a Nice Movie starring Jackie chan.
2.
I have worked on a Project that was handed over me in the middle of a mess. I first took a look at the accrued receivables and started clearing the unreconciled balance. I was sucessful to bring the balance down to a nominal cost of couple of thousand dollars.
3.
Whwn I was a student at university I had to managet a project including 5 people in a team I was the one responsable for the project and coordonate.
4.
When I designed a project targeting vulnerable populations I did not have adequate information about.
5.
Clear the balance sheet from a mess.
6.
Six residential Tower Project(Dubai Creek harbour)
7.
Most challenging are the outsourced projects.
8.
Setting revenue recognition.
9.
D was and is - it's a big project with a low margin with a large Third party component - accounting wise it is cost to complete So they'd a lot of translating frombusiness to finance speak. The third party is very small And this project is a very large percentage of their existing business so delays are particularly painful. Lots Of negotiation for early payment. In addition there are delivery problems so the margin is getting lower. On top of that large Bom element £2m which keeps moving and causing fluctuations. Cars all the time which are also low marginal require large governance , Plus frequent change of MPs and prog ms.
10.
Project with EU and USAID
11.
I worked on a project called the idea project and it was an EU project and followed a different format and regulations that we had not dealt with before. Once we had a meeting with management I was tasked with finding the ins and outs of the project by reading in my own time the 150 page contract and liaising with the funder to overcome gaps in the committee minutes I was handed. It took a loot of extra research to ensure I was competent ion communicating information regarding the project to both my manager and the project manager and I spent a lot of time setting the project up and creating proforma's for the work in progress and timesheets for staff. I had to keep up to date on reporting standards to ensure we had all the required information for our auditors.
12.
I have worked in producer choice, base budgeting when finance function at the BBC was decentralise. It was a radical change.
13.
I think the most challenging project I worked on was the organization and execution of a charity event we did at the last restaurant I worked at. The idea was born when a friend of mine, who worked for a beer distributor, and I got to talking and decided we wanted to raise money for Carrie Tingley Children's Hospital. We decided to create a Casino Night shortly before Christmas. Once ownership approved of the use of the restaurant facilities we had our work cut out for us. We had to get as much stuff donated to the event as possible. But some things we had to pay for such as labor and the gaming operations. We had to rent the gaming tables and hire the dealers too. Getting businesses and people to donate wasn't a problem at all. We had so many door prizes, raffle prizes and other wild stuff people could purchase with their winnings. We even gave away an all expenses paid trip to Las Vegas, which was donated. The tricky part of the event was recovering the labor costs for the staff that worked the event as well as the intangibles like utility costs. I calculated those costs by using an average based on the utility bill. The most challenging part was the coordination of all the moving parts. We had a DJ, we had Erika Viking MC the event, we had the gaming people, the cooks the bartenders and so many other pieces that needed to be managed and monitored. We charged people $50 a head and packed the place. It was a very rewarding project.We had such a good response to the event and raised about $10,000 for the Children's Hospital. I actually considered going into event planning after we nailed that function.
14.
To work with untrust and unprofessional persons.
Question 15 of 31
How would you come to a resolution disputing material costs for a project that you shared materials with?
User-Submitted Answers
1.
Agree % used internally and find out what the other project though and negotiate - also not get too bogged down of all costs are incurred by company anyway.
2.
I would take the total cost of the material and charge the percentage of the costs inline with the amount of materials each project used. This would be the fairest resolution as it would be unethical for a project to bear costs attributable top another project.
3.
Share using number of output if it is quantifiable. If not base on percentage on turnover.
4.
The numbers don't usually lie. If it could be determined who used what then I would itemize the material costs and do it that way. If that wasn't an option I would see if we could find a resolution by determining rough percentages of what each project used and allocate it that way.
5.
I will check another supplier and remve this supplier if necessary.
Question 16 of 31
How do you prioritize when you have multiple deadlines to meet?
User-Submitted Answers
1.
I always Alsace multiple deadlines. Work out quickly what I can do in the available time. Work out which Asha's the biggest impact -'discuss with customer to see if anything can be extensdesmor set expectations, docuss with magr If an an impasse.
2.
I always have the intention to meet deadlines regardless of when they fall due, worst case scenario I would seek help from within my team. Part of my preparation will be to rank my tasks in order of importance in the event that I could not meet all the deadlines concerned. That way the more important tasks would get finished and the less important tasks would not cause too much disruption if they were late.
3.
I have to deal with one that would have the most significant impact first. I have to also remember cash is king.
4.
It seems to me that almost every job I've had has had deadlines. Whether it was getting food to a table one time or executing the delivery of a 200 person banquet, there were always deadlines. As a writer I was always on a deadline to produce original copy. And as an auditor we have strict deadlines to work our cases. I highly value good organization. When I have multiple deadlines I multi task when I can to consolidate similar tasks, I write down my deadlines somewhere I can see them and I work on the soonest due items first. Most importantly, I ask for help if I find that I may not meet a deadline. I have rarely missed a deadline in my life but it does happen and asking for help is something you shouldn't be ashamed of. After all in project management there is a team environment and that is a resource that shouldn't be neglected.
5.
What is most important for my company I will do it first.
Question 17 of 31
How do you stay on top of regulation changes in the financial industry?
User-Submitted Answers
1.
Yes - from and hp policy point of view they meet us gasp and idea - I don't specifically read new frs.
2.
I have attended Mercia courses as continuing professional development.
3.
I use the IFRS guidelines, sometimes use CIMA /Linked in and other colleagues in organisation.
4.
I am constantly using my regs book to determine the taxability of income. It is important to understand these regulations and also to understand GAAP so you can communicate with accountants and understand why they report certain things in certain ways. The gross receipts and compensating tax act govern my actions as an auditor but sometimes we have to refer to federal law in making determinations.
Question 18 of 31
What is an audit query?
User-Submitted Answers
1.
Any questions related to a company which is audited either by an internal or external auditor.
2.
The final touch of the accounts.
3.
It is the matter being investigated while examining financial report of a company.
4.
Audit queries are questions asked by an auditor during an investigation. These may be used to gather information to come to a conclusion in the audit.
5.
An audit query, is a explanation that is required by the audit team on certain points that they may have identified during an audit.
6.
When you get asked to justify an action by the auditors - eg invoice accrual Prepayment etc.
7.
It is an inquiry from an auditor or also known as findings.
8.
Audit query's are questions asked by the audit during an investigation. The response can be used to help the auditor come to a conclusion regarding an audit.
9.
I assume an audit query is when a particular set of data is pulled to audit.
Question 19 of 31
Why did you choose to pursue a career in accounting?
User-Submitted Answers
1.
Because Accountancy field is very interesting and challenging.
2.
I have an answer to long to type.
3.
Maths has always been my favourite subject. I was intrigued to find out more about accounting and so I signed up to Abingdon and Witney college and completed level 2 & 3 AAT. I then obtained work experience in the management accounts department and enjoyed it so much I decided to pursue a career in accounting.
4.
I had a basic understanding book-keeping at O levels. Continue in my tertiary education. I understand the double entry concept. I like economics and politics. I feel that they are important elements in organisation. Understanding them and make it work to achieve objectives.
5.
Good question. I didn't like math as a kid, so I stayed away from accounting as well. But as an adult working with all the numbers in the restaurant business I found it to be less math and more business. I found it fascinating to follow the money in and out. There is so much more to accounting then adding and subtracting numbers. There are different reporting methods that can yield significant tax breaks. I also liked how everything has to be in its place. One wrong accounting entry can throw off the whole operation and searching for that mistake could be like finding a needle in a haystack. It may sound crazy but it is like a puzzle to me. I like to be organized and have things in their respective places so accounting just made sense for me.
6.
Because I like accounting and I am interested to work with accounts.
Question 20 of 31
Tell me about yourself generally and your accounting experience specifically.
User-Submitted Answers
1.
Gained considerable knowledge in costing. Lots of analysis and how effectively cost accounting system can be used.
2.
My experience as an accountant has been great ranging from, Financial Reporting, treasury management, budgeting and budget control, compliance and general ledger management, internal control management and human resource duties.
3.
I have worked as account consultant for two years where I specialized in conducting project feasibility studies, designing alternative sources of finance and preparing project budgets.
4.
I have an experience of eight years now as a project accountant working with two different project at Plan tanzania.
5.
I have more than 8.5 years expeience in accountancy field working as a project accountant in any site/project is awesome.
6.
Ok lots of different profs - monthly service with VR, stand alone milestones, etc.
7.
My experience working in research projects was great. I was given lots of responsibility early on and had the highest authorisation limit on my team. I was able to head all my own meetings with the project managers and have even been to meetings instead of my manager. I already had experience in management accounts but this role gave me the confidence to communicate financial aspects to both external and internal staff. It was a very enjoyable job and I would like to pursue it as a long life career.
8.
At the BBC in costing department before producer choice. It was our role to monitor actuals against budget. Work in progress before completion of programme. I, e. Then when programme is costed.
9.
While I've never held the title of project accountant I have worked on projects as a restaurant manager where each project was based in accounting. For instance the food, labor and liquor costs were all based on financial numbers. I've also worked on inventory control projects to minimize the standing inventory. All of these are projects with principles in accounting. Having an understanding of accounting principles was very useful in my success in that capacity.
Question 21 of 31
Have you ever worked on a project that lasted multiple years?
User-Submitted Answers
1.
Yes I have worked on projects that spanned over multiple years and even multiple finance systems. Its more of a challenge when you are dealing with queries from a period before you were in the role, but it is a very good learning curve and a good way to have a feel for the project.
2.
No. only as trustee to view the organisation performance and reporting structure. To comply with FRS102
3.
I can't say that I have. Though the processes of maintaining liquor, food and labor costs were a continuing operation. You might say that each day was a different step in the project that led to the end of the month reports on our process evaluation.
4.
No sir but I can do it with my self effort.
Question 22 of 31
How have you implemented the recent tax changes in your company?
User-Submitted Answers
1.
Discussed with management.
2.
Well seeing how I am currently the tax man I have helped implement any and all changes with taxes by helping the taxpayers understand more clearly what the changes are and how they affect them. I often give step by step directions to taxpayers on how to properly report their income so they don't get flagged for an audit. I find that part of my job rewarding because they seem thankful at the end of the conversation.
Question 23 of 31
Tell me about your experience with a difficult superior. How did you handle the situation?
User-Submitted Answers
1.
Yeah I worked but I always resolve this issue with my kindness and from my professional behaviour.
Question 24 of 31
Are you planning to obtain your masters' degree (where applicable, i.e., if not already listed on your resume)?
User-Submitted Answers
1.
Yeah sir I always want to get education more and more.
Question 25 of 31
What is the largest portfolio you have been responsible for, preferably in a project accounting capacity?
User-Submitted Answers
1.
For this time I didnot work but I will give you the best service.
Question 26 of 31
Please confirm when you received your Certified Public Accountant (CPA) or Certified Management Accountant (CMA) designation, or alternately when you plan on receiving one of these designations.
Question 27 of 31
Tell me whether you ever had a project go over budget, and how you managed the situation.
User-Submitted Answers
1.
Yes.First I checked un necessary expenses If extra expense in important then I rechanged my budget.
Question 28 of 31
Where do you see yourself in 5 years from now, or where would you like to be?
User-Submitted Answers
1.
I want to provide you the best services and I give you the best service with my experince and self effort.
Question 29 of 31
On a scale of 1 to 10, rate your proficiency level with respect to Quickbooks, Sage and Simply Accounting.
Question 30 of 31
Please tell me a few of your greatest strengths.
User-Submitted Answers
1.
I would say my greatest strengths are excellent communication, being extremely organized, stakeholder engagement and flexibility to achieve deadlines.
2.
Fast learner self started, have confidence I can learn anything and becaus I want that to remain true I am very determined.
3.
I have great interpersonal and communication skills and I am able to communicate financial information to people from a financial or non financial background. I am very proactive, have strong analytical skills and use my initiative to complete tasks independently. I have a great level of attention for detail and often pick up inefficiencies that other people have missed. I am a team player willing to go above and beyond what is expected of me.
4.
I would have to say my communication skills. I am easy to talk to, I always make myself available to staff and I am usually involved in most processes. I am an excellent writer who can clearly communicate thoughts and directions. I think communicating to your staff why something is being done will get you better productivity rather than just giving assignments out without the context behind it. I believe this makes the team member feel more invested in the project and likely will take more ownership in his/her duties.
Question 31 of 31
What do you do to improve the communication channels within a team?

About Project Accountant

August 18th, 2017

Project accounting (sometimes referred to as job cost accounting) is the practice of creating financial reports specifically designed to track the financial progress of projects, which can then be used by managers to aid project management.

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