Accounts Executive Interview Questions

Have you handled a complex financial project? If so, what did you do?

Yes, I have handled a tough financial situation with my previous organization. It required accurate data and proper analysis. I developed a specific plan to execute the objectives within the set period. I identified the issue and allocated the resources accordingly.

What do you know about wasting assets and fixed assets?

Wasting assets lose value with usage and fixed assets are not resalable. Fixed assets have more than a year usage.

What is inward invoice and outward invoice?

The documents sent by a goods supplier to the buyer, which has details pertaining to price, discount is an inward invoice and the document sent by the firm to the customers with relevant details is an outward invoice

What are your thoughts on market analysis?

In depth, research holds the key for a successful market research. I would effectively analyze the current market trend and how would it influence the future of the organization in terms of development.

What type of decisions proves difficult to you?

I usually analyze a situation before I decide. Sometimes, choosing between two to three equally good decisions prove difficult for me. In addition, I had a difficulty in giving a straight negative response to people. Now I have learned to give positive criticisms.

What is going concern concept according to International Accounting Standard-1(IAS-1)?

According to IAS-1, a going concern is a business entity that has continuity of life. The entity will not close down and will continue undefined period.

 

What is the difference between current liability and long-term liability?

Current liability refers to one-year debts while long-term liability refers to two or more years of debts. In other words, the payment of credit is applicable for a year in current liability and in long-term liability, it is applicable for more than a year.

What is the purpose of a petty cash book?

A petty cash book is preferred for recording small payments such as postage, cartage, refreshment, stationary. It avoids cluttering of the cashbook with numerous payments.

How do you deal with both positive and negative criticism?

I do not take positive criticism to my head and would look out for an opportunity in a negative situation. In my perception, positive criticism constructs me systematically while negative criticism motivates me towards improvement.

We are considering three other candidates for this profile. Why should prefer you to them?

I am a professional and competent performer when it comes to work. I have wealth of resources in accounts and economics domains. I would incorporate innovative ideas into projects. I enjoy the work I do and will not rest until a project succeeds.

What makes you a successful accounts manager?

I put my company and clients first. I have good communications skill and using my I would ensure that the company had understood the client’s requirements. I am good at negotiations too. I would convince the clients to sign the best possible deals with the company.

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