The goal of the interview is to effectively communicate How and Why you are compatible for the job. Even though we know interviews are a discussion between a candidate and an individual or a panel called recruiters, interviews can be very stressful, especially when they are related to technical jobs like accounting, finance, business development, etc. 

This article will deal with different types of accounting interview questions that are frequently asked:

Different types of accounting interview questions 

In interviews, HR or the panel ask questions to assess candidates’ knowledge, experience, and behaviour. It becomes necessary for the candidates to prepare themselves so that they can sail through the interview. The recruiters ask questions about the candidate’s skills, knowledge, behaviour, competency, and critical thinking. So, here is the list of different types of questions that can help freshers and experienced candidates crack accounting interviews.

Introductory Accounting Interview Questions

In introductory questions, recruiters tend to focus on your background, your skills, strengths, and weaknesses. They also focus on knowing your career goals, hobbies, interests and the reason you left your previous job. A few examples of introductory questions are:

• Tell us about yourself.     

“Tell me about yourself” is one of the preferred introductory questions in most interviews. To answer this question, the candidate must prepare a brief introduction containing your skills, strengths and weaknesses relevant to the job you have applied for. In the case of accounting jobs, you must highlight skills like communication, financial statement analysis, account reconciliation, financial reporting & analysis, etc. 

• Why do you want to work with us?

Instead of having a generic approach to such questions, the candidate must perform research to learn about the company, its work, and its values. It is important to align your goals with the values of the company. You must know how your skills can contribute to the growth and development of the organisation.

The candidate needs to ask follow-up questions to get a deeper knowledge of the organisation’s work culture and future growth opportunities.  

Technical Accounting Interview Questions

The purpose of asking technical questions in an interview is to evaluate the candidate’s subject or job-related technical knowledge. 

In accountancy, the technical questions asked by the interviewer are:

• Please guide me through the financial statements of XYZ Company.

In this question, you have to explain all three types of financial statements that a company prepares, i.e. the income statement, balance sheet and the cash-flow statement. 

Here, the interviewer evaluates your familiarity and comprehension of the financial statements.

• How do you interpret negative working capital?

“Negative working capital occurs when a company’s current liabilities exceed its current assets. Negative working capital isn’t always an indication of financial trouble, even though it could seem so at first. It may sometimes be a sign of operational effectiveness. For instance, a business might be able to take advantage of supplier credit terms and swiftly collect payments from customers, creating a negative working capital cycle. On the other hand, persistently low working capital can also be a sign of problems with managing cash, such as an excessive reliance on short-term loans or ineffective inventory control. To ascertain the significance of negative working capital for the company’s financial health, the underlying causes of the condition must be examined. Therefore, it’s essential to analyse the underlying reasons for negative working capital to determine its implications on the company’s financial health.

For technical questions, the recruiting panel generally focus on conceptual and practical questions which align with the job description and work ethics. So, it is mandatory to thoroughly research and learn about the company, the job they are offering, the skills they require and the concepts and practices surrounding the job.

Competency Accounting Interview Questions 

The competency questions aim to see how you use specific skills and experiences to approach problems and challenges.  

• When confronted with multiple deadlines, how would one professionally prioritise tasks?

The interviewer is trying to assess the candidate’s decision-making & time management skills. 

So, one of the ways to answer this question is; “At first, I will categorise the tasks based on two factors. The first is urgency, and the second is importance. Keeping in mind the deadlines, I will first prioritise the important, urgent tasks with shorter deadlines and then delegate the time to the rest of the work.”

• How would you present the accounting information to the non-accounting staff?

This question evaluates the multiple skills of the candidate like, How easily the candidate can convey technical information, simplification of jargon, communication skills, storytelling, and creativity.  

Hence, you can say, “When presenting accounting data, I will minimise the use of jargon and will simplify data by using visual aids like presentations, charts and graphs. Building a story around the accounting information also helps foster more profound understanding.”

• Tell me about your expertise with accounting software.

By asking this question, the interviewer is trying to assess your knowledge of the accounting software and how updated and comfortable you are with it.

It is important to showcase knowledge of more than one particular software. As it shows versatility in your skills and adaptability. 

Behavioral Accounting Interview Questions

When an interviewer asks the candidate behavioural questions, the interviewer wants to see the candidate’s ability to adapt to the work culture, growth potential, and leadership skills that can increase the company’s competitiveness. Behavioural questions also highlight the work ethics of the candidates. 

• What would be your attitude towards challenges?

The recruiter evaluates your mindset and approach to challenges. Having a positive and solution-oriented mindset is appreciated in any field of knowledge. Looking at challenges as opportunities will reflect a learning and growth attitude towards the company, which is the essential mindset the recruiters are looking for in a candidate.  

• How would you go about resolving disagreements or conflicts that may arise in the workplace?

The interviewer considers your conflict management, conflict resolution practices and fundamental principles through this question.    

A possible answer to this question is, “I believe effective communication and collaboration are key to resolving workplace conflicts. At first, I will listen to all parties to understand their concerns, encourage open dialogue, and find mutually acceptable solutions. If necessary, I will use mediation techniques or involve a neutral third party. The goal is to create a positive work environment where conflicts are resolved amicably, allowing everyone to focus on their goals.”

Experienced-based Accounting Interview Questions  

Experienced-based questions in an interview typically require candidates to share their work experience from their previous jobs or internships to demonstrate their skills, competencies, and behaviours. These questions aim to evaluate how candidates have managed various situations in the past and predict how they would handle similar future scenarios.

• Can you tell me about your previous accounting jobs?

To tackle these questions, one must share the roles and responsibilities one performed in the previous jobs. You can also highlight the achievements and projects that you worked on. 

Mentioning the challenges you face while working and how you overcome them will give the interviewer an idea of your growth curve. An important thing to keep in mind is to be respectful and never use harsh or negative terms in an interview.

• How would you maintain accuracy at work?

Accuracy is a crucial component of accounting. Answering such a question not only demonstrates the candidate’s expertise in the related field, but also showcases their organisational, precise, and methodical nature.  

Critical Thinking Accounting Interview Questions

When the interviewer wants to evaluate how the candidate will deal with complex situations and reach a logical conclusion, the role of critical thinking questions comes into play. 

• While presenting to the key stakeholders’ you notice an error in the manager’s report, but your manager is not present. What would you do?

The best way to answer this question is to 

“If I am stuck in such a situation, I will promptly rectify the error in the report and later discuss it with the manager to avoid future blunders.” 

This interview question analyses the candidate’s presence of mind and the ability to handle sensitive situations. 

How to deal with difficult or tricky accounting interview questions 

We all prepare thoroughly for an interview, but sometimes, the interviewer asks questions beyond our research and knowledge. We might also face a question that can make us nervous or uncomfortable, and we tend to panic. 

The question remains: “How do we handle such a question?” 

First, it is important to remember that during a job interview, the interviewer is either trying to learn more about you or presenting a scenario that could occur on the job. 

Next, it is crucial to be honest with your answers and maintain a positive attitude throughout the interview. If the interviewer asks a question and you cannot answer due to a lack of knowledge, it is best to ask for clarification. If you are still unsure, it is better to be honest and express your willingness to learn. 

In such situations, it is important to stay confident. Acknowledging the complexity of the question and taking a proactive approach can demonstrate your confidence and active learning skills to the interviewer.         

Conclusion

Navigating accounting interview questions requires a combination of technical expertise and interpersonal skills. Candidates must showcase their proficiency in financial analysis, problem-solving abilities, and readiness to thrive in dynamic accounting environments. Aspiring accountants can prepare for the interview by articulating their experiences clearly and concisely and projecting confidence. Ultimately, the success of an interview depends on the candidate’s ability to convey competence, adaptability, and a strong desire for precision, which can set the stage for a promising career in accounting. And remember, interviews are just a part of life which helps you grow.