Interview Questions for an Accountant Job

As per the query of one of the visitors of "accounting concepts explained", I am going to mention here some of the important interview questions which one has to counter when he/she applies for an accountant's job.

Here are some of the common questions which you should be prepared for before an interview:

• How many methods of depreciation are available and name them?
• What is Accrual Basis of Accounting?
• Sometimes the interviewer asks specific questions regarding treatment of some item or the entry for some transaction like purchase of machinery, stock, etc. Especially the question of depreciation is also important because often the students of B.Com are not well-acquainted with the use of Accumulated Depreciation a/c.
• Some basic knowledge of IAS/IFRS (International Financial Reporting Standards) is also required. It may only be limited to IFRS 1 and Inventories.
• The interviewee must also have good working knowledge of MS Excel because it will be a definite plus for him.
• What is the difference between shares and debentures?
• What are the tax rates for companies?

Remember, that overall good knowledge and clear concepts can help you in any interview even if you are under-prepared. And this pays you off at every stage of your professional career.