Hi there, my name is Richard McMunn from the
interview training company, PassMyInterview.com, and in this tutorial, I'm going to give you
my top 20 Accountant Interview Questions and Answers. So, it does not matter which organization
you are applying to join as an accountant, please make sure you watch this tutorial from
beginning to end, because I'm going to give you some top scoring answers to make sure
you get the accounting job you deserve! Now, before I get into those, a very warm
welcome to this tutorial. As I say, my name is Richard McMunn. That's me there in the center. I've been helping people to pass their interviews
for about 20 years now. Please do make sure you SUBSCRIBE to the channel
by clicking the red button below the video, and then you won't miss out on any of the
weekly training videos that I'm uploading. And I would also very much appreciate it if
you gave the video a LIKE to support my channel. (Thank you). Thank you very much. OK. Let's get straight into those 20 accountant
interview questions and answers. Here we go. Question number one. Why do you want to be an accountant? Here is my suggested answer. “I want to be an accountant because it’s
a job that comes with a high level of responsibility and accountability. If you don’t perform your role as an accountant
to the expected standards, the consequences can be far reaching. The natural skills and qualities I possess,
and my desire to work under pressure to high standards, means the role of an accountant
is one that I will excel in on a consistent and reliable basis. I am an inquisitive person who has patience
and exceptional attention to detail skills, all of which go to make me the perfect candidate
to be an accountant with your company.” So I recommend you learn that answer for your
response to the interview question - Why you want to be an accountant? Let's take a look at the second question of
my top 20 accountant interview questions. Why do you want to work for our company as
an accountant? This is pretty much guaranteed question during
your accountant interview, and here is my suggested answer. “I want to work for your company for three
specific reasons. The first reason is, you are clearly an accounting
firm who sets high standards and the online reviews you receive from your clients demonstrates
your desire to provide a great level of service based on their individual financial needs. The second reason is, you are a company who
has a strong reputation within the industry and I would feel proud to be an accountant
with your firm. Finally, having carried out lots of research
before applying for this accountancy job, I feel you will support me in my role and
encourage me to continually develop and improve, which is really important to me as a professional
accountant.” What I like about that answer is you are focusing
on three main reasons why you want to work for their company. I can pretty much guarantee that all of the
other competitors at the accountant interview will give just one reason. You are giving three great reasons why you
have chosen their company. Question number three of your accountant interview. What experience do you have that would be
applicable to this accountant role? So this is my sample answer. “The experience and competencies I have
gained so far can be allocated to three main areas. Firstly, I have experience of working with
a variety of different clients, both small and large. Whilst working will all types of clients I
always provide a consistent level of service and go out of my way to get the job done on
time and to an accurate standard. Secondly, I have experience of working under
pressure to tight deadlines whilst managing multiple accounts and clients. Thirdly, I have experience of working collaboratively
with other accountancy team members and bookkeepers to ensure accounts are completed and submitted
on time. I believe the experience I have gained so
far will enable me to perform highly within this role and I will always act as a positive
role model in my capacity as an accountant for your company.” That’s a great answer! And you are talking about the experience of
the competencies you have that will be a match for the role, and that's important. Next question - How do you handle pressure? Now, you and I know that, as an accountant,
you have to work under pressure. There are difficult clients to work with at
times, but more importantly, there are tight timescales that you have to adhere to and
get the accounts completed. And especially during the end of year, when
the accounts have to be submitted, there is a lot of work to do and you will be under
pressure. So how do you handle pressure as an accountant? Here is my suggested answer. “To be truthful, I feel I work better when
I am under pressure and I enjoy the challenge of getting my accountancy work completed on
time and to the right standard. I handle pressure by first of all drawing
up a list of tasks that need to be completed and by which timescale. I will then work the necessary hours to make
sure the job is completed on time. More often than not, I will work from home
in the evenings to get my work completed as I don’t like to fall behind. As I say, working under pressure is something
I do well and feel I thrive when I have to get more tasks completed within a set period
of time.” So this demonstrates that you do the important
thing whilst working under pressure, which is drawing up a list of which tasks need to
be done and by which time scale. And then you put in the necessary hours to
get them done! That's the important thing that demonstrates
you are a ‘completer finisher’, somebody who can handle the pressure and get the job
done. Next question of our 20 accountant interview
questions. What do you expect to be doing on a day-to-day
basis as an accountant? So this is assessing whether you understand
the role that you are applying for, and also the key responsibilities of an accountant. So here we go. “The main duties I expect to be carrying
out as an accountant include, providing financial account management information to clients
as and when required; preparing asset, liability and capital account entries by analyzing account
information; recommending financial actions after careful analysis of accounts, and also
preparing balance sheets, profit and loss statements and also management accounts on
a periodic basis. I will also be required to guide accounting
staff to assist the company is ensuring accounts are prepared on time; liaise with clients
and provide advice and information based on their financial accounts; maintain financial
security by following organizational procedures and protocol; and also maintaining client
confidence whilst adhering to rules, regulations and the law surrounding GDPR. Finally, in addition to reconciling financial
discrepancies after careful analysis of client’s account information, I will be required to
keep my own knowledge and professional development up-to-date based on developments from within
the financial sector and industry.” So that is an in-depth answer, but that's
important because there are many and very different tasks that you will have to carry
out as an accountant. So you need to be able to rattle them off
and tell the interview or the hiring manager exactly what you expect to be doing on a day-to
day-basis. So 15 more accountant interview questions. The first ones we've covered, just to recap,
what you expect to be doing on a day to day basis as an accountant? Why do you want to be an accountant? How do you handle pressure? What experience do you have that would be
applicable to this role? And why do you want to work for our company
as an accountant? Question number six, when have you worked
with others to complete a difficult task? Question 7: What are your strengths? Number 8: What's your biggest weakness? Number 9: Where do you see yourself in five
years’ time? Make sure you pause the video and write down
these questions. Number 10: What are the different types of
business transactions in accounting? 11: Which accounting platforms have you worked
on? Question 12: Give an example of when you've
worked with a difficult client? (Which you will have to do as an accountant.) You have to be professional and be patient
at all times. Question 13: What are the different types
of financial statements? Number 14: What is working capital? What's the difference between deferred revenue
and accounts receivable? And what accounting software applications
do you have experience in? I would, prior to the interview, have a look
which applications they use and make sure you are competent in their use. Number 17: How do you maintain accounting
accuracy? Number 18: What is the difference between
a trial balance and a balance sheet? Question 19: What is the difference between
inactive and dormant accounts? And question 20: What is a deferred tax liability? My advice is to also make sure that you have
a couple of questions that you want to ask the interview panel when you get to the end
of the interview, and the questions might be that you could ask the interview panel
would be: What are the plans for your company over the next few years? Because that demonstrates you plan to stay
with them for a long time. So just to repeat that, your question might
be, what are the plans for your organization over the next three to five years? Another question might be: If I'm successful
in the role, what do you want me to concentrate on as an accountant within the first few weeks
of starting? You could also ask a question if you wanted
to, which goes along the lines of… What have previous accountants done that has
frustrated you? You know, what do you want me to concentrate
on? What difference could I make to your company? Now, those are really good questions to ask
at the end of your accountant interview. So, if you'd like to download my Accounting
Interview Questions and Answers Guide, please click the link below the video or go to my
PassMyInterview. om. Please don't forget to SUBSCRIBE to the channel
so you don't miss out. I'd also very much appreciate it if you gave
the video a LIKE, thank you very much for watching this tutorial and I wish you all
the best in your pursuit to passing your accounting interview. Have a brilliant day!
