Top 20 Accounting Interview Questions and Answers
Does he have the ability to communicate his plans for what comes next—whatever they might be—to a fan base that's rightfully demanding answers after another ugly season on and off the court?
Accounting is such a vast topic that there are so many technical questions that can be asked. Still, each question can be answered in many different ways. In this article, we have put together a list of top 20 accounting interview questions and answers so that you can give your best shot in the accounting job interview. If you are new to accounting, you can also have a look at this basic accounting course.
Part 1 – Core Accounting Questions
The three bubbles: The Asian Bubble in the early '90s, Dot-com Bubble of the late '90s and what Juckes calls the Great Big Credit Bubble that triggered the 2008 Wall Street meltdown.
- 在电影《007：大破天幕杀机》中饰演邦女郎的贝纳尼丝·玛尔洛（Berenice Marlohe），已经确认加盟导演特伦斯·马立克（TerrenceMalick）执导的最新电影作品，目前此影片正在奥斯汀进行拍摄。
- Stevens will perform "Mystery of Love" from the film "Call Me by Your Name," and Bernal, LaFourcade and Miguel will perform "Remember Me" from "Coco."
The gorgeous Birman cat has more than 128,000 Instagram followers. And it has been the inspiration for many of Lagerfeld's designs.
- The Shanghai Stock Exchange saw 26 IPOs, while its Shenzhen counterpart saw 15 IPOs of small-and-medium-sized enterprises and 20 start-up companies.
Together, the world’s 10 highest-paid actresses tallied a combined $205 million between June 1, 2015 and June 1, 2016, before management fees and taxes, Forbes said.
1. “The Assassin” and “Mad Max: Fury Road” (tie) Hou Hsiao-Hsien and George Miller directed the year’s two best commercial movies, both of which should be seen on the biggest screen you can find.
As a measure of that fall, 10 works have sold at auction for more than $100 million since 2004, and all of them were made by modern or contemporary artists in the past 120 years. Older paintings have seen their value, in relative terms, level off or decline. The trend was plain to see in recent weeks, as London’s auction houses tried to find buyers for their latest tranche of old masters. As has been the case in recent years, there were few works by major names.
- Delivery of product can be determined easily with the help of the Goods / Material Receipt Note or the Lorry Receipt. But in the case of delivery of services, this seems to be a bit tricky because there might not a physical transfer of property/goods in this case. So to ensure services have been delivered, timesheets of people who have worked on the project, the final design, or such deliverables can be used as a reference.
I believe that the accounting team of any company has the responsibility of presenting an accurate and fair view to the shareholders and the management of the company. The accounting team is like the watchdog of the organization. This is why documentation becomes very important in accounting. Appropriate documentation needs to be checked and maintained so that a proper audit trail is maintained and justified as and when required.
- If you can prepare a list of all critical/vital documents for the sector in which you are going to an accounting interview, then it will help you win very good brownie points with the interviewer.
There are a set of standards which need to be followed by all business while maintaining their books of accounts. It is done to make the financial statement meaningful, comparable, and statutorily compliant. These are more like a set of rules to be followed so that financial statements of different organizations are made on the same lines. So the users of the financial statements know the assumptions behind the financial statements and can easily compare the financial statements across companies and sectors.
- Currently, GAAP (
- ) need to be followed by all companies which need to adhere to the rules of the U.S SEC (Securities & Exchange Commission). These are issued/modified by the International Accounting Standards Board (IASB). On the other hand, IFRS (International Financial Reporting Standards) are also a set of Accounting Standards which are issued by another body known as FASB. There are statutory requirements in each country to follow either of these Accounting standards depending upon their laws.
A fixed asset register is a document/register which maintains a list of all fixed assets available with the organization. It is maintained historically, and it also contains data of assets that are sold/written off. Some of the critical details to be mentioned in the FAR are the date of acquisition of an asset, cost of acquisition, rate of depreciation, accumulated depreciation till date, depreciation for the current period, selling price of the asset if any, date of transfer, location of the asset (in case of multiple business locations, this field is essential), asset number (a unique asset number should be assigned to every asset for ease of tracking. This is especially helpful for assets where quantity is more than one like laptops).
"Everywhere I go business owners are seeing an increase in demand," said Gus Faucher, senior economist at PNC Financial Services. "Businesses will have to raise wages to attract or maintain workers."
|Opening Value||Additions||Deductions||Closing Value||Opening Value||Depreciation for the year||Deductions||Closing Value||Opening Value||Closing Value|
|A||$ 100||$ 10||–||$ 110||$ 40||$ 10||–||$ 50||$ 60||$ 60|
|B||$ 200||–||$ 70||$ 130||$ 50||$ 10||$ 30||$ 30||$ 150||$ 100|
|$ 300||$ 10||$ 70||$ 240||$ 90||$ 20||$ 30||$ 80||$ 210||$ 160|
- Physical verification of fixed assets should be done regularly, and comments from these verifications should be updated accordingly. There are times when the asset is recorded in the books, but physically there is no such asset.
最佳迷你剧/电影：《美国罪案故事：公诉辛普森》(“The People v. O. J. Simpson: American Crime Story”, FX)
SAP is not just accounting software, it is more of an ERP, and I would recommend it to the management if I were to be appointed as the CFO of a 100 million dollar MNC. It has adequate controls, multiple modules which have access limitation, various reports can be extracted, and customization is also possible.
- It is important to make yourself clear about the size of the organization and then correlate the usage of the ERP with the size. This is required because if you are interviewing for a start-up where survival is the focus rather than the effectiveness of controls, they will prefer using Tally, which will be very cost-efficient for them.
Question #6 – What is the significance of reconciliation in accounting?
Reconciliation is a must when it comes to accounting. One set of records should be matched/reconciled with another so that records are updated on a timely basis. It also helps to verify if any incorrect entry/amount is posted in the books. Some basic types of reconciliations that are essential are bank reconciliations (bank ledger in our books vis-a-vis bank statement), vendor reconciliation (vendor ledger in our books vis-a-vis our ledger in vendor’s books) and intercompany reconciliations, etc. Internal reconciliations should also be done. These include quantity reconciliation of closing stock, cost of goods sold reconciliations, etc.
The frequency of these statements should be monthly/quarterly / annually, depending on the volume of transactions associated with each one of these. For details, have a look at the Reconciliation of Books.
During the summers, Good Humor ice cream trucks visit the company's campuses every other Friday during lunchtime. In the fall, cider and doughnuts are served twice a month, mid-morning.
‘Episodes’ This comedy on Showtime, too often overlooked, follows the bewilderment of two British TV writers stuck in Hollywood creating a series for Matt LeBlanc, who plays a diva version of himself very convincingly. Not many shows set in the entertainment industry can sustain the conceit, but this is one that got even better in its third year.
The Journey of Flower
Horowitz, speaking to radio station RTE, said he was keen to keep the new Bond true to the 1950s creation.
The quality of its students makes LBS particularly valued. “Studying among so many talented people has instilled in me the belief that I can actually achieve something on my own,” comments one MBA graduate from the class of 2011.
There was no immediate word from the Romney camp on the reported results。
"All of these lists together speak a lot about 2010, and the revolutions in politics and technology of the year," Chan said.
The 60-episode TV drama was adapted from a novel Legend of Princess Pearl published in 2007. It focuses on the protagonist Shen Zhenzhu’s romance with her husband and their efforts to protect the country.
- Purchase Requisition
- A cheery New Year hold lots of happiness for you!给你特别的祝福，愿新年带给你无边的幸福、如意。
- Vendor Invoice
- Material Receipt Note
- Delivery Challan
- Here are five things consumers and investors can count on (probably) in 2015:
Truck wars: Awards aside, Ford’s aluminum pickup is hard to build and slow to sell, leaving an opening for Ram’s fast-rising 1500 while Nissan tries to forget the failure of its first full-size truck when it launches the second-generation Titan with the biggest of big rig styling. The industry’s biggest secret is revealed by veteran executive John Krafcik in Automotive News: In the
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The registered urban unemployment rate stood at 4.02 percent at year-end 2016, the lowest level in years.
Harvard Business School, London Business School (LBS) and MIT Sloan School of Management, three of the MBA ranking’s longstanding heavyweights, all lost ground to their competitors. Harvard drops two places to fourth, the first time in nine years that the Boston school has been outside the top three. London Business School falls three places to sixth, its lowest position in 14 years. MIT Sloan School of Management falls to 13th place, the first time in 10 years that it has been outside the top 10.
Russia and Nato have both called for a de-escalation of the Turkey-Netherlands row.
Judge for yourself.
adj. 确实的，保障的，有自信的 动词assure的过
在此次上榜的5所中国学院当中，上海高级金融学院排名最高，领先于北京大学光华管理学院(Guanghua School of Management at Peking University)和清华大学经济管理学院(School of Economics and Management, Tsinghua University)，后两家学院分别排名第17位和第18位。
Organizations generally prepare the Profit & Loss budget as this is what management wants to track. But a working capital budget is also equally important as it helps to arrange funds on a timely basis. Based on the P&L budget and the working capital budget, a Budgeted Balance Sheet can also be prepared. Also, look at What is Budgeting?
Best Companies rank: 59
In July, the government made the first stab at regulating internet finance when 10 agencies, including the central bank, the banking regulator and the securities regulator jointly issued guidelines that provide an official definition of “internet finance” and specify which agencies are responsible for regulating which types of internet financial institutions.
Mr. Nathan was among the few dealers actively bidding at the evening sales. Buying on behalf of a client, he paid 506,500, or twice the estimate, at Christie’s for Charles-Antoine Coypel’s 1737 painting, “The Destruction of the Palace of Armida.”
Drama Series: “Game of Thrones” (HBO)
McGowan was born into the polygamous Children of God Cult and ran away from home in her teens.
Americans: While you're here, why not pretend to be Canadian? Very few Britons can tell the difference, and it will allow you to rescue yourself from awkward conversations about the death penalty.
“LBS has broadened my profession horizons and opened international career opportunities,” said one graduate. He added: “In the three years after graduation I have worked in the US, Canada and Hong Kong, while rotating in different businesses from corporate banking to debt capitalmarkets”.
《法律与秩序：特殊受害者》(Law & Order: SVU)：NBC频道的这部电视剧上一季中的危机仿佛是从肥皂剧中搬来，发生了各种大事，奥利维亚（Olivia，玛莉丝卡·哈吉塔[(Mariska Hargitay]饰）经历了许多危险——喜欢跟踪的变态强奸犯，折磨人的婚外恋，新生婴儿，现在这一切终于平息下来。在今年的第16季中，侦探们回到了重要的性犯罪上，其中一集的灵感来自雷·赖斯(Ray Rice)，讲述的是从监控录像中看到一个著名体育广播员殴打自己的妻子。
INDOORS: This house was completed around 1848 and last updated in 2008. The front door has a transom and sidelights of red glass etched with a leaf motif. The first floor has a large living room with crown molding and two fireplaces, one of which warms the formal dining area. Off the living room is a family room with raised wall paneling, a wet bar and another dining area. French doors open to a slate patio. Several rooms have views of Little Narragansett Bay.
McDonough School of Business at Georgetown University in Washington DC returns to the custom ranking in 15th place after dropping out last year because of a low survey response rate from clients. Only three schools enter the custom ranking for the first time, including London’s Cass Business School in 60th place.
Part 2 – Accounting and Financial Analysis Questions
Working capital is the day-to-day funds’ requirement for any business. Cash and bank balance is a part of the total working capital availability of any organization. Working capital is much border than just cash and bank balances. Current assets and liabilities also make up for the working capital of the business.
One of the two artefacts which has a metal ring attach to it was discovered in the Yizheng city in western Jiangsu.
By the end of 2015, Shanghai's population of migrant residents had decreased to 9.8 million, comprising 40.6 percent of the city's roughly 24 million permanent residents, according to statistics released by the Shanghai Municipal Statistics Bureau on Monday.
St Gallen outperforms other ranked schools thanks in part to strong scores for international criteria. More than 90 per cent of students and 80 per cent of faculty are from abroad. The school is also ranked second for both the international mobility of its students and their international exposure during the programme.
If any movie can bridge the deep racial, generational and class divides in American life — at least for a couple of hours — it would have to be this revival of the ancient “Rocky” franchise. Sylvester Stallone, shuffling into the wise old trainer role, gives perhaps the loosest, warmest performance of his career. Michael B. Jordan, as Adonis Johnson, Rocky’s protégé (and the illegitimate son of his onetime rival and long-lost friend, Apollo Creed), continues his emergence as one of the vital movie stars of our moment. As for Mr. Coogler, with his second feature as a director he proves himself to be a true contender. (Read the review)
"The CPI just went up two percent year on year in 2016, less than the three-percent predictive index. It was a moderate inflation, and reflected the price level was effectively controlled and basically stable," said Jin.
Many successful entrepreneurs started later in life. J. K. Rowling (Harry Potter author), Julia Child (chef), and Sam Walton (Wal-Mart) all started their wildly successful brands after they were comfortably along in their lives. Having the experience that comes with age can give you a unique outlook on your business. Life experiences bring depth that the most educated young adult, by his or her nature, is less able to foresee.
4.Captain America: Civil War
- = Current Assets – Current Liabilities; This looks fairly simple, but working capital management practically involves – debt management, inventory management, revenue collection, short-term investments, planning payments as per the networking capital inflow.
AFI TV Programs of the Year
a) Correlation between revenue and profit of the organization – A company with a higher revenue is not necessarily doing well.
E.g., Let us say that the revenue of Company A is $ 1000 but against which it has booked heavy losses. On the other hand, Company B is only $ 500, but it has already broken even and is earning a profit of around 7% of total revenue. Needless to say that Company B is more efficient and profitable. The management of this company is moving in the right direction. More the profit, the better will be the dividend declared for its shareholders and better capacity to pay off the debt and interest.
b) Debt-equity ratio – A proper balance needs to be maintained between the two – debt and equity. Only debt means high-interest costs. Only equity means that the company is not leveraging the opportunities available in the market for lower interest rates.
Tip 1: Liquidity is also another parameter which can be mentioned if required. For this, you can calculate the working capital of each company and make conclusions. The working capital should not be too high, which results in the blocking of funds of the company, nor should it be too low, which will not fulfill its day to day funding requirements.
Tip 2: Interview preparation should include the study of key ratios of the given industry and the company’s competitors. The above question, when answered with the ratios, will create a bigger and better impact on the interviewer. Have a look at this complete guide to Ratio Analysis Formula
- This year, the average sales price for an apartment in New York City topped $1 million, a milestone with far-reaching implications. As the city’s population soars, prices and buildings are rising in neighborhoods that missed the last housing boom.
“Thutmose III was one of the most important pharaohs in Egypt’s New Kingdom and is credited with establishing the Egyptian imperial province in Canaan,” said Gabriel Barkay, the co-founder and director of the Temple Mount Sifting Project.
Over the past 10 years, the value of the top 100 brands has more than doubled — increasing by 133 per cent. That value (see box on page 3 for methodology) is calculated in terms of financial measures such as revenues and profitability combined with surveys of how consumers view brands.
Tesla:In an effort to blunt criticism about slow refueling times for battery-powered cars, Tesla TSLA -1.54% starts to roll out of a network of battery-swap stations. CEO Elon Musk must hope he can outdo Shai Agassi’s Better Place, which tried to build a whole company around battery-swaps before going bankrupt in 2013.
- Excel is also required for linking multiple sets of data. So different reports can be extracted from the ERP and then using the VLOOKUP in Excel / hlookup function. They can be clubbed into one report.
- The use of Excel becomes the most important for doing various reconciliations. These cannot be done in the ERP. E.g., if I need to do a vendor ledger balance reconciliation, I will extract the vendor ledger from the ERP in Excel and get a similar Excel from the vendor for his ledger. All the reconciliations will then have to be done in Excel only.
- Thor: Ragnarok
Brushing up basic Excels will come in handy during the interview. Some of the formulae which one needs to know are sum, sumproduct, sumif, countif, subtotal, min, max, vlookup, hlookup, use of pivot tables, round, etc. Have a look at this.
The high school version of Howard isn't nearly as intimidating as the new one. Just goes to show how much ridiculous hard work goes into becoming an NBA All-Star.
According to my, stock-in-hand can be the key to improving the working capital of the company. Out of all the components of working capital, the stock is controllable by us. We can pressurize our debtors to pay us instantly, but we cannot have direct control over them because they are separate legal entities, and in the end, they are the ones who give us business. We can tend to delay payments of our suppliers, but it spoils business relations and hampers the goodwill in the industry. Plus, if we delay payments, they might not supply goods in the future. Keeping liquidity in the form of funds in the bank can help the working capital flow, but it comes at an opportunity cost. Keeping all this in mind, I believe that inventory management can go a long way in improving the working capital of the company. Excess stocking should be avoided, and the stock turnover ratio should be high.
This answer is also generic. Some industries work on negative working capital as well, such as e-commerce, telecommunication, etc. So please do a bit of research about working capital before answering.
Human bodies are frail, easily damaged packages full of parts that can never fully come back once lost. Luckily, researchers worldwide are working on replacing every bit of the body to make us all cyborgs.
And England ? Well, maybe the best thing to say is that this time, for once, no-one is really expecting anything, and just even getting out of the group is going to be a bonus.
伦敦商学院的MBA课程位列欧洲第一，与美国哥伦比亚商学院(Columbia Business School)合办的EMBA课程位列第三，管理硕士课程首次参与排名就跻身前10名。参与管理硕士课程排名是伦敦商学院夺得欧洲榜首的关键因素。
Social scientists, after crunching data from both sides of the Atlantic, have discovered something surprising: it’s not the amount of racial or ethnic diversity in a community that predicts white resentment and support of anti-immigrant policies, but the pace of change.
Cash flow shows how much CASH the company has generated in the given year. It can also show if the company is in a position to pay for its operations soon. This helps to answer what investors want to know before investing – will the company be able to pay the interest/principal/dividends as and when due? Earning profit is one thing, but able to generate cash when the company needs to pay its debts is another thing.
The cash flow statement has three segments – Cash Flow from operations, LED行业“并购热潮”再度掀起 木林森加速布局LED灯丝灯市场 & Cash Flow from financing activities. Operations related to day-to-day operations which help the company earn revenue. Investing activities show the company’s capital expenditure. Financing activities show activities such as borrowings, shares issues, etc.
- Income Statement – Buying will not have any direct impact on the income statement. However, year on year, you will charge depreciation as an expense to the income statement.
- Balance Sheet – Fixed assets will increase, whereas current assets (cash paid) will decrease if the payment is made in the same financial year. If the payment is not made in the same financial year, then instead of a decrease in current assets, there will be an increase in current liabilities.
Also, yearly, when depreciation is charged to the income statement, the asset will be reduced.
- Cash flow statement – There will be a cash outflow that will be shown under the cash from investing activities section of the cash flow statement.
Part 3 – Personality Questions in Accounting Interview
Folk Song “Jasmine” (Song Zuying and Celine Dion, Canada)
Christmas arrived on schedule for the U.S. auto industry as a spurt of sales put the wrapping on a surprisingly successful year. Analysts predicted that sales in December could hit a seasonally-adjusted rate of 17 million, which would be the first month at that rate in nearly six years. That would push 2013 sales up to a robust 15.7 million units.
According to the 2016 Hurun IT Rich List released last Tuesday, the average wealth of the top 50 Chinese IT tycoons hit a record, surging 13% year-on-year to 26.9 billion yuan.
- This answer should be linked to any question on the key strengths/weaknesses of the candidate. So going with the flow of the above question, the candidate can also mention that people management is his or her key strength. Given the opportunity, he/she will be able to tackle this kind of challenge smoothly and will make sure that data availability is not a hindrance.
Extreme heat blanketed Alaska and much of the western United States last year. Records were set across large areas of every inhabited continent. And the ocean surface was unusually warm virtually everywhere except near Antarctica, the scientists said, providing the energy that fueled damaging Pacific storms.
- 复验不合格的建筑材料 一律按要求退场
- 换房2.0时代来临 二孩政策开启楼市“新纪元”
- It was all work, work, work for the BBC Culture team and parties, alas, were few and far between. But the rest of Cannes was painting the town red. In 2013 we tried to calculate the amount of champagne consumed at the festival by contacting Piper Heidsieck, “the official drink” of the festival, but they declined to comment – though judging by the merry faces and staggering gaits of some on the Croisette, it's safe to assume a colossal quantity. At the party for Matteo Garrone's Tale of Tales on the first weekend, the champers flowed freely and the revellers stayed on until the early hours. When the BBC's Rebecca Laurence spoke to one of its stars the following morning and asked how many hours sleep he'd had before their interview, he simply narrowed his bleary eyes and held up two fingers.
The above answer is very generic. This should be fine-tuned as per the exact job description. Let us say you are applying for the position of Accounts Receivable Accountant. In this case, you need to mention revenue reports, follow up with customers for payment whenever due, revenue recognition, raising invoices to customers, etc. On the other hand, if the profile is that of Accounts Payable Accountant, then you need to mention purchase orders, materials receipt, and releasing payment of vendors on a timely basis, etc.
Question #18 – If you are made the CFO of this company, what are the changes you would like to recommend to the 德豪润达拟增发融资45亿元 上马LED倒装芯片项目?
At the end of a politically charged ceremony in which Donald Trump was the subject of frequent jokes by host Jimmy Kimmel, Warren Beatty and Faye Dunaway announced that La La Land had won. But as the producers and cast of Damien Chazelle’s modern musical were on stage giving emotional thank you speeches, they were told that Moonlight was the real winner.
Being the CFO of the company, my first task will be to understand the business, the revenue model, the processes followed at a broader level, and getting acquainted with the management and the team reporting to me. I believe that before suggesting any changes, knowing these things is very important. Once I spend enough time in the system, I would then be in a position to suggest changes based on industry best practices, responses to the competitors, and shareholder expectations.
"Nobody can stop it. I will keep sending leaflets into North Korea at the risk of my life," Park said, adding he has always prepared to face down the North's threats.
The website claims that "the more you sip, the smarter you (and the bottle) get," but in reality the more you sip, the drunker you get and the less information you'll retain.
DeMarcus Cousins, Serge Ibaka and Lou Williams were all dealt in advance of Thursday's 3 p.m. ET deadline, leaving role players like Taj Gibson and P.J. Tucker as the biggest names to move right before the buzzer.
8.Your Boss Sucks
The best bosses understand that there must be a balance between the company or client’s needs and the needs of his or her employees. The best bosses are willing to listen and talk about any issues an employee may be having because they understand that a happy employee is a more productive employee。
Cousins's deal qualifies as a blockbuster, the Raptors made two strong moves to bolster their contender status, and the race for the West's last playoff spot got far more intriguing, among other storylines.
"I am a doctor and I prefer to speak frankly. A person's health is related first to eating, drinking and air. Any kind of development will be nothing if the quality of food, water and air is not good." ZHONG NANSHAN, NPC deputy and academic with the Chinese Academy of Engineering
Neumann, Silbermann and Sharp are three of 66 billionaires under 40 years old, a record for the Forbes list.
Tinashe featuring Devonté Hynes “Bet” (RCA)
“An employee left a sticky note saying that he was quitting.”
If the oldest man ever elected president can “tweet like a kindergartner,” why not flip the script and see if a youngster can be elected to office and govern wisely?
This umbrella protects your dogs from the sun and rain.
The People’s Bank of China has long intervened in foreign-exchange markets to hedge against excessive volatility. Since August, however, such intervention has expanded from the domestic spot market, which covers daily transactions, to include the offshore renminbi market in Hong Kong, as well as both onshore and offshore futures markets, traders say.
Her subjects felt like they were waiting in a long line to reach the top of a hill where the American dream was waiting for them. But the line’s uphill progress had slowed, even stopped. And immigrants, black people and other “outsiders” seemed to be cutting the line.
Third, McDermott provides some protection against the possibility of Andre Roberson departing as a free agent in the summer.
- Mentioning the situation won’t be enough. You will have to elaborate on the steps taken by you during these stressful times. You will have to show that you went out of the way to get things done, and the decisions taken were in the best interests of the company in those stressed times.
‘Hackers are using common terms from pop culture and sports to break into accounts online because they know many people are using those easy-to-remember words.’
- 北京家具“以旧换新” 不温不火
- Private Equity Interview
- 国新办政策例行吹风会介绍深化增值税改革有关情况—— 确保所有行业税负只减不增
- 50家中小板公司发声维稳 德豪润达8名管理层增持