Accounting Interview Questions and Answers

Accounting Interview Questions and Answers

An accountant is a practitioner of accounting or accountancy, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities and others make decisions about allocating resource(s).In many jurisdictions, professional accounting bodies maintain standards of practice and evaluations for professionals. Accountants who have demonstrated competency through their professional associations’ certification exams are certified to use titles such as Chartered Accountant, Chartered Certified Accountant or Certified Public Accountant. Such professionals are granted certain responsibilities by statute, such as the ability to certify an organization’s financial statements and may be held liable for professional misconduct. Non-qualified accountants may be employed by a qualified accountant or may work independently without statutory privileges and obligations.

What is accountant?

What Do Accountants Do?

Can you explain Real account and Nominal account with examples?

What is the difference between real account and nominal accounts?

Can you explain Personal Accounts?

Can you name different branches of accounting?

Can you explain bookkeeping?

Can you define is the bookkeeping equation?

Can you define double entry Bookkeeping?

Can you define Accounting?

Can you define Executive accounting?

Can you define Public accounting?

Can you define Partitioning in accounting?

Can you define Offset accounting?

Can you define temporary account?

Can you define outside accountant?

Can you define deferred asset?

Can you define asset account?

Can you define Master Account?

Can you define Bank Reconciliation?

Can you define accrual accounting?

Can you define post-closing trial balance?

Can you define escrow payment?

Can you define GAAP?

Can you define owner’s equity?

Can you define trade bills?

Can you define Marginal Cost?

Can you define fair value accounting?

In accounting, how do you define premises?

Can you define tally accounting?

Can you define balancing in accounting?

Can you define Deferred Revenue Expenditure (DRE)?

Can you define Bad debt expense?

Can you define liabilities and what all does include in current liabilities?

Can you define reversing journal entries?

Can you define account payable?

Can you define Contingent Liabilities?

Can you define working capital?

What does the standard journal entry includes?

Can you define deposit in transit?

Can you define Retail banking?

Can you define bills receivable?

What type of account is the Dividends account?

Can you define material facts in accounting?

Can you define working capital?

What is assets minus liabilities?

What is the difference between Cash discount and Trade discount?

How do you record PPE and why is this important?

Can you explain the Revenue Recognition and Matching principles?

What is the difference between an actuary and an accountant?

What is the difference between an accountant and an auditor?

What is the difference between mercantile system and cash system of accounting?

What are three examples of common budgeting methods?

What is the relation between journal and ledger?

What is an accounting error? Types of accounting errors?

Explain the meaning of long-term notes payable is or long term liabilities?

Which accounting applications are you familiar with?

What do you consider to be the biggest challenge facing the accounting profession today?

What are the various accounting designations?

What is the general classification of accounts that usually ledger account involve?

What are the types of Accounting?