Popular Question

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

There are many ways to tackle this question. For example, you could mention how financial analysts are taking on a greater advisory role on top of financial management. Another possible answer is the challenge of managing working capital and customer relations during a business’ financial crisis. Or you can even talk about technological advances in accounting software.

Your interviewer wants to see that you have a working knowledge and understanding of the field. You want to demonstrate that you have a critical eye of the industry’s challenges. You should be able to reflect on your experience to form your own personal opinion.

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Which account applications are you familiar with?

There are numerous account applications and accounting software packages out there. You may only be familiar with Microsoft Dynamics GP. However, just naming one application is not enough to show the depth of your experience.

Your answer to this question should show that you know what works and what doesn’t. You can form a professional opinion and have specific reasons to support your response. At the very least, know about the recent developments and features of relevant software, even those you don’t use often.

Describe the advantages and disadvantages of different accounting packages you have used in your most recent accountant jobs.

You will need to be prepared with several pros and cons for a few different accounting packages. The days of a simple spreadsheet and a manual ledger are over. This is the time to name names and highlight features.

With account packages, you can save time, set up financial statements automatically, and have better control over cash flow statements. On the other hand, there are learning curves to each accounting package. Besides, computerized accounting packages are tied to computer availability.

Describe any accounting process that you’ve developed or sought to improve.

The purpose of this question is to evaluate if you can identify a more efficient procedure when you see a need. Hiring managers want to know that you take the initiative and can find ways to reduce costs by increasing productivity.

Remember, your smart new accounting process should still maintain proper quality accounting standards while abiding by generally accepted accounting principles. When designing your new income statement process, were you diligent? It’s great that you set up a new balance sheet with accounts receivable and accounts payable. But did you double check your journal entries to minimize any errors in your work?

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