The questions you’re asked in your interview will vary depending on the job you’re applying for, which is why you must always perform specific research for your sector. For example, if you’re hoping to secure a new accounting role, then you need to research the types of questions you could be asked for this position.
In this article, we’ll discuss the most common accountancy interview questions and how you should answer them. In addition, we’ll look at the top tips you need to follow to prepare for your interview effectively.
Types of Interview Questions
In your accounting interview, you’ll probably encounter both technical and behavioural questions. Technical questions are intended to determine your level of knowledge regarding your industry, so these questions will evaluate your skills as an accountant. Behavioural questions ask about your experiences, so you’ll often be asked to describe how you reacted to certain situations in the past.
Therefore, with both types of questions, you can demonstrate your industry-specific knowledge and hard skills by discussing the accounting industry and your experiences in previous roles. However, you shouldn’t forget to also emphasise your soft skills, such as communication, teamwork, time management and attention to detail. These skills are vital to your success as an accountant.
Common Accounting Interview Questions
What kinds of technical and behavioural questions could you be asked in your accounting interview? Here are some of the most common examples and advice on how to answer them.
1) What types of accounting software are you familiar with?
As an accountant, you’ll need to be extremely proficient in the use of accountancy software. The more programs you’re familiar with, the easier it will be for you to hit the ground running in your new role. As a result, your interviewer will want to know about all of the types of accounting software you’ve used in the past, and you can go into further detail about the software you’re most familiar with.
2) What do you look for in accounting software?
To learn more about how you work, your interviewer would like to know what features you think are the most important when selecting accountancy software. For example, you could discuss the importance of features such as invoice generation and cash flow forecasting, and you could then explain how you would utilise these features effectively to improve the business.
3) What are the main challenges facing accountants today?
In your interview, you must demonstrate your knowledge of the accounting industry as a whole in addition to your knowledge of the role. Your interviewer wants to know if you’re passionate about accounting and up-to-date on the latest developments, so make sure you do your research beforehand. Identify future challenges in the industry, such as changing tax laws, developments in technology, and increasing competition, and discuss how you would tackle these issues and adapt.
4) What are the three types of financial statements?
While your interviewer is trying to test your accountancy knowledge, they could ask you to go over vital information you should know off by heart. Stay calm and take your time when answering to prevent avoidable mistakes. Explain that the three types of financial statements are balance sheets, income statements and cash flow statements, showing a company’s assets, liabilities and shareholders’ equity, its revenues and expenses, and increases and decreases in cash, respectively.
5) Have you developed your own accounting processes in previous roles?
Next, your interviewer will want to assess how innovative you are and how well you can solve difficult problems. Don’t just talk about how you would solve a theoretical issue; explain how you developed a new process or system in a previous role and how this helped the company. If you haven’t developed your own accounting process before, explain how you have improved inefficient processes in the past. Try to include facts and figures to support your assertions.
6) How did you reduce costs in your previous job(s)?
The mark of a good accountant is the ability to identify inefficiencies in a business and eliminate them to reduce costs. Your interviewer wants to know how you can use your attention to detail and problem-solving skills to improve the financial health of the company. Again, use specific examples from your previous roles and back up your claims with statistics.
7) How do you ensure accuracy at all times?
Accuracy and attention to detail are some of the most important soft skills that an accountant must-have. Even simple mistakes can jeopardise a company’s financial records and potentially lead to difficulties as tax deadlines approach. Therefore, you need to emphasise your attention to detail throughout your interview and give concrete examples of how you avoid mistakes, such as double-checking all figures or delegating work more efficiently to reduce burnout-related errors.
8) Tell me about a time when you had to meet an extremely urgent deadline
These ‘tell me about a time when…’ behavioural questions can often trip up interviewees, but as long as you think of relevant scenarios in your preparation, you should be able to provide a strong answer. For this question, describe a past scenario where you had to meet a tight deadline and explain how you handled the pressure and made sure everything was completed on time. This will demonstrate your time management skills, which are extremely important for an accountant.
9) Tell me about a time when you had to explain accounting concepts to non-accountants
Another vital soft skill is communication. In particular, you should be able to explain complicated accountancy issues to people in other departments who may not have an accounting background. Walk the interviewer through a situation you experienced and tell them how you broke down complicated information into more manageable pieces.
10) Why do you want to join this company?
No matter what role you’re interviewing for, at some point you’ll be asked why you want to join the organisation. This is your chance to show off your research into the company and highlight all of the factors that compelled you to apply. For example, you could praise the company’s commitment to sustainability or community outreach, or explain how the company’s comprehensive training program would be fantastic for your personal development.
Interview Preparation Tips
A huge part of your interview preparation is anticipating the kinds of questions you’ll be asked and thinking of the best answers. Now that you know the most common questions asked in accounting interviews, you’ll have a much better chance of impressing your interviewer.
However, there are also some other interview preparation tips you should bear in mind. Here are the main things you should do before your interview:
- Research. Your interviewer is likely to test your knowledge of both accounting processes and the industry as a whole, so make sure you do your research beforehand. Don’t forget to research the company too so you can explain why you applied for the role.
- Practise your responses. You don’t want to memorise lines and come across as completely robotic, but it makes sense to think about how you’d respond to common interview questions and then practise your answers. Think of past scenarios you can use to demonstrate each soft skill, and underline all the skills and requirements in the job description so you can make a note of how you fulfil each one.
- Use the STAR method. When you’re preparing your answers to common behavioural questions, use the STAR method (Situation, Task, Action, Result) to structure your responses. This will help you stay on track and cover all the details.
With thorough preparation, you’ll give yourself the best chance of securing the role. So, if you have an accounting interview in the near future, follow these helpful tips and use the questions in this guide to prepare your responses. Above all, remember to stay calm and carry yourself with confidence.
