Interview Questions And Answers For Accountant

#1 Walk me through the 3 financial statements.
The balance sheet displays a company’s assets, its liabilities and shareholders’ equity.  The income statement outlines the firm’s revenues and expenses. The cash flow statement shows the cash flows from operating, investing and financing activities.

#2 If I had only one statement and wanted to review the overall health of a company, which statement would I use and why?
Cash is king.  The cash flow statement gives a right picture of how much cash the company is generating. That being said, it’s significant to highly that all 3 statements truly are required to get a full picture of the health of a company. Learn more about how the 3 financial statements are linked.

#3 what happens on the income statement if inventory goes up by $10?
Nothing.  This is a trick question. The only effect will be on the balance sheet and cash flow statement.

#4 what is working capital?
Working capital is normally defined as current assets less current liabilities.  In banking, working capital is usually defined more narrowly as current assets (excluding cash) less current liabilities (excluding interest-bearing debt).

#5 what does having negative working capital mean?
Negative working capital is common in some industries such as grocery retail and the restaurant business.  For a grocery store, customers pay upfront, inventory travels relatively quickly but suppliers often given 30 days (or more) credit.  This means that the company receives cash from customers before it needs the cash to pay suppliers.  Negative working capital is a sign of efficacy in businesses with low inventory and accounts receivable.  In other industries, negative working capital might signal a company is facing financial trouble.

#6 if cash collected from customers is not yet recorded as revenue, what happens to it?
It generally goes into “Deferred Revenue” on the balance sheet as a liability if the revenue has not been earned yet.

#7 what’s the difference between deferred revenue and accounts receivable?
Deferred revenue represents cash received customers for services or goods not yet provided.  Accounts receivable represents cash owing from customers for goods/services already provided.

#8 When do you capitalize rather than expense a purchase?
If the purchase will be used in the business for more than 1 year, it is capitalized and depreciated.

#9 under what situations does goodwill increase?
When a company purchases another business for more than the fair value of its tangible and intangible assets, goodwill is created.

#10 how do you record PPE and why is this vital?
There are essentially 4 areas to consider when accounting for PP&E on the balance sheet: initial purchase, depreciation, additions (capital expenditures), and dispositions.  In adding to these 4, you may also have to consider revaluation.  For several businesses, PP&E is the main capital asset that generates revenue, profitability and cash flow.

#11 how does an inventory write-down affect the 3 statements?
On the balance sheet the asset account of Inventory is reduced by the amount of the write-down, and so is shareholders’ equity. The income statement is hit with an expense in either COGS or a separate line item for the sum of the write-down, reducing net income.  On the cash flow statement, the write-down is added back to CFO as it’s a non-cash expense but must not be dual counted in the changes of non-cash working capital.

#12 what are 3 examples of common budgeting methods?
Examples of common budgeting techniques include zero-based budgeting, incremental budgeting, and value-based budgeting.  Learn more about the many types, in CFI’s budgeting and forecasting course.

#13 please explain the Revenue Recognition and Matching principles?
The revenue recognition principle dictates the procedure and timing of which revenue is noted and recognized an item in the financial statements based on certain conditions (i.e. transfer of ownership).  The matching principle dictates that the timing of expenses be matched to the period in which they are incurred, as opposed to when they are really paid.

#14 if you were CFO of our company, what would keep you up at night?
Step back and give a high-level overview of the company’s present financial position, or companies in that industry in over-all.  Highlight something on each of the 3 statements.  Income statement: growth, margins, viability. Balance sheet: liquidity, capital assets, credit metrics, liquidity ratios. Cash flow statement: short-term and long-term cash flow profile, any need to raise cash or return capital to shareholders.

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Interview Questions and Answers for Freshers

1). Did you face any difficulty in finding this place?
The interviewer generally asks this question to initiate the talk and put the applicant to ease. You can smile and answer this question by saying: “It wasn’t difficult to find this place.”
 

2). Tell me something about yourself.?
This is the most generally asked first question in any interview and the one which can set a ground for rest of your interview. Include details like: Your education background (not beyond 12th standard), some information about your family – father’s occupation, mother’s profession, number of siblings (no need to get into their educational details) and some details about your extracurricular activities or hobbies.

3). Why does this role interest you? Or why have you applied for this position?
The purpose of this question is to see if you are actually interested in this job or you applied to this job just because you are jobless. Relate the job requirements with your candidature and explain why do you believe you are an appropriate applicant for this job.
 

4). Why do you think would we take you for this job?
This is another way of asking the last question. A company will want to hire you if you can add some worth to it. So, focus your answer on your skills and how they can be useful for the position you are being interviewed for. Also, tell them about your ability to grasp new things quickly, adjust well into a team and flexible approach. These are the qualities that employers regularly seek in a fresh graduate.

Remember to keep an example ready for each personal quality you offer.

5). Are you an Introvert or Extrovert?
Being on either of the extremes at work can be bad for you and the organization. Your behavior at work should be as per the requirement. To answer this question you can say something like: I behave as per the requirement of the situation. For e.g. If I am representing the company at an occasion which wants me to talk to plenty of individuals, I become an extrovert while if there is some serious issue under discussion, I think gently and deeply on it.

6). What is your greatest strength?
This is also one of the most usually asked questions in any interview. Your answer to this question demonstrates your preparation for the interview. Your same set of strengths cannot be a benefit in every interview. This needs you to tailor make your answer as per the requirement of the position you are being interviewed for.

Before each interview, analyse the requirements of the role carefully and list out the qualities required to perform that role. Now, make a list of the qualities you have and match them with the requirements. You can offer these qualities as your strength for the role.

7). What do you want to achieve in the next five years?
This answer shows your capability to make plans for yourself, have an ambitious but genuine plan:

- Say you would like to get certain skills and move up the ladder
- If you are interested in Management, say you would like to take up a part-time course/full time course in x years’ time.

8). Would you be open to change your project/profile when necessary?
This is actual important for a company, they want employees who are willing to change roles, to meet business demands, so the typical answer here is “Yes”. Say “I understand it will be in best interest of the business, if my manager needs me to develop my skills and take up another role.”

9). What skills do you want to develop to succeed in this role?
Again talk about some key skills that are essential for the role, this will show them that you are ready to learn and are aware of your shortcomings.

Tell them that you, as a fresher, have the capability but require formal training to enhance your skills for a professional environment

10). What is your greatest weakness?
This is another common question which rises the anxiety level of the candidate. The interviewer is not interested in your answer to the question unless you tell about a weakness which will straight affect the work. He is more interested in the way you deal with the question.

Here are some ways to cope with the question:
a.) Offer a weakness totally un-related to work – For e.g. I can not cook though I have been staying alone for years now.
b.) Offer a humorous weakness – For e.g. “I have a passion for speed and bikes are my weakness”.

11). What is your greatest achievement?
I stood first in the order of merit in class Xth sounds like you have not achieved anything big since then. Find out something from the near past that makes you honored of yourself. If you do not find an answer to this question in your professional or academic life, it is completely fine to offer an answer from your social life. For e.g. I succeeded to save the life of an accident struck stranger by taking him to the hospital well on time and donating a bottle of blood for him. This example demonstrates that you are a responsible individual.

12). What was your biggest mistake?
To answer this question try to find out a mistake you did long back. It demonstrates that you have not done a mistake as big as that since then.
You do not have all the experience we are seeking for this position.
As a fresher you will not have much experience of working on numerous projects and even employers are aware about it. Offer your capability to grasp new things quickly as a solution to this.

13). Where do you see yourself five years from now?
The purpose of this question is to see if the candidate is ambitious enough to grow. Recruiting an applicant is a time consuming and costly affair so they also want to see if the candidate is over determined to stay in the company for long.

You can say something like “5 years down the line I would like to see myself in a responsible situation where I can make important decisions for company and the company treats me as its strength. I am sure that this company can offer me such growth opportunities.

14). Are you speaking to some other companies? Or how is your job search going on?
The reason of this question is to see if other companies are also interested in hiring you. If you are in discussion with some other companies you can say, Yes, I am in conversation with some other companies and waiting for the results.

15). Which companies are you talking to?
This can be the very obvious next question you might face. If you are not comfortable in revealing the names of the companies you can simply say, “I respect the confidentiality of those companies so I would not like to name them in the interview.”

16). Why haven’t you got a job yet?
This question will normally arise if it has been sometime since you finished your studies and are still in the market without a job.

You can say that, I have been offered some tempting positions in the last few days but had to turn them down as I did not find them right for my application. You can follow it up with some examples.
 

17). Are you ready to relocate?
Say yes only if you mean yes. The employer may be planning to recruit you for a position in some other city or may have a plan to shift you after some months. Giving them a wrong hope will not be good on your part professionally.

18). How do you feel about doing repetitive work?
Any job you take up will have an element of redundancy and the interviewer wants to see if you get bored of it. You can say something like: I like to do creative work but I also know that any job has an element of redundancy. So, it is fine with me.

19). Are there any types of people you can not work with?
Most of the work these days needs you to work in teams. This needs you to be able to adjust with all kind of people. So, you can say something like, I am fine with working all type of people as long as they are sincere to their work.

20). If you face a difficulty with your own performance, what would you do?
Your answer to this question indicates whether you can detect difficulties with yourself or not. So, you can say something like: “If I see a problem with my own performance, I will try to find out and analyse the factors behind it & work on each of them.”

21). How many local trains run in Mumbai?
Even the employer might not know the answer to such questions. The purpose of asking them is to see your reaction when you are asked unexpected things. To cope with such a question, you can start thinking aloud in a logical way and offer an answer.
This demonstrates your logical capabilities.

22). In a catastrophic condition like fire what you will do?
The purpose here again is to see your response in such situations. They do not expect you to do anything heroic. You can say something like: “First of all I will ensure my safety and immediately inform the fire department of the company and city to come to support. If I am in a position to help some people, I will definitely do that.”

23). How much salary do you expect?
As a fresher you will typically not have much bargaining power in terms of salary. Still, you can ask the interviewer about the package they offer to fresher graduates. Most of the big corporations have a fixed salary for each level and there will not be a room for much negotiation.

Nevertheless, if you are required to spell out a figure, offer a range rather than an exact figure. For example you can say something like: I expect somewhat around mid-twenties.
Do you have any other offer at hand?

This is normally a closing question and they may want to know how actively you are looking for a job. Usually give an honest answer and say why you are looking for another job with that offer at hand.

24). What will you do if you are offered a job with a pay higher than this?
As discussed, recruitment is a time consuming and costly affair. A company will not want to hire a applicant who will switch the job for a couple of thousands.

To answer this question you can say somewhat like, I know that attraction of money but at this point in time growth is more important for me. In such a situation, I’ll discuss the growth openings with my manager and analyse the situation. If I see a growth potential in the same company, I will continue to work. Nevertheless, if I don’t see any further growth, I’ll humbly inform him about my decision to move on.

25). Do you want to ask us something about the company?
Not asking any questions back demonstrates lack interest in the job, tediousness or lack of research about the company.
When you are asked this question, you can ask some curious questions like the opportunities for you to grow in the company, the expansion strategies of the company and the opportunities for you to grow there.
If the company has been in news recently, you can ask questions related to that also.
Some of the other things that you can ask are -
- Whether the company lets for lateral and vertical role changes
- If the company encourages learning and development of employees
- Expansion plans
- You can also discuss your role in detail

Interview Questions and Answers For Teacher

1)  Tell me a little bit about yourself...?

Ans. Oh, yes, this is the question that is most probable to be asked first. I call it a two minute commercial about yourself. This is a great chance to sell yourself to the school
district representatives. Keep in mind, if it is the first question asked, it will set the stage for the interview, so it wants to be extremely strong. Don’t be too modest. This will offer an overview, an introduction, to you. You might start by stating, “As you can see from my resume….” and then mention your degrees and certifications and give a quick rundown of your relevant experience. The last 1 ½ minutes must be used to communicate your strengths and skills and what you can do to enhance education in their district. In other words, they are asking “Why would we hire you?” Practice this carefully. You need a few sentences that answer that question at the end of your response. Also, at the end, you may want to mention why you would enjoy working for the school district in the position for which they are hiring.





2) What qualities in you made you pick teaching as a profession?

Ans. Teaching is the key for the development of the society and teaching is profession where a continuous learning and sharing of knowledge happens. Personally am a very passionate learner and a good communicator with a strong zeal to do contribute to the society. Hence picked this profession to enlighten the young minds and drive them for a better life.

3) How many years of experience do you possess in teaching and what are your competencies?

Ans. I possess X years of experience in teaching subjects like X, X, X and X.

My main competencies are in handling students with different intellectual abilities and designing a customized model of teaching for each class. At the same time, I can enthuse the students towards the subject by giving them practical overview of the concepts.

And, I hold a track record of teaching students who have then continuously scored above 60% of marks.

4) Why are you looking for a change from your existing institution?

Ans. I have been working with the current institution for the last X years and it has always been a learning experience all the while. But feel that I am entering the comfort zone and hence change is a must to confirm there is some professional development.

Looking for a new and challenging work environment where enhancing my existing skills is a must.

5) Every teacher will have a different style in teaching. What is your style?

Ans. Demonstrative style of teaching is what I follow where it involves lot of preparation for the class. Text books collate all the information and put it at one place for the students and hence the role of a teacher is to explain the concepts in a way that students understand and remember. Organizing practical sessions and showing the videos pertaining to the subject assist students better.

6) In your opinion what do students look for in their teacher?

Ans. Students look at their teachers as role models and person who can guide them better for a bright future. As a role model the teacher would infuse positive attitudes towards life and encourage them to be good citizens contributing to the country and society.

7) Each and every child is special and gifted differently. How do you identify those hidden talents?

Ans. Yes, the fact that each child is blessed otherwise and a teacher is the best person to identify the unseen talents and encourage them to pursue those special skills. Different classroom activities like essay writing, elocution, painting and role plays help in identifying children with special talents in writing, oratory, acting and artistic skills . Also the sports and cultural events bring out their leadership & team working skills.

8) What are the challenges for teachers in handling the modern day students?

Ans. The role of teachers is becoming very challenging these days. Especially with both parents working and the time they spend with the children for their studies is drastically coming down. Also the expectations of the parents on their children both in studies and extra-curricular activities are extremely high. All this becomes a great challenge for the teachers in giving individual attention to each child rather than just delivering the lesson.

Also the enhancing technology and communications are giving children a great exposure to the happening around the world and tinge of innocence is totally missing. Children are able to get any sort of information in a click of mouse on the internet. Hence the teachers are facing a great challenge in handling students in the present day. Teachers need to really pull up their socks and improve their knowledge and not just rely on the text books.

9) How do you use technology in driving the interest of the students?

Ans. Use of technology is inevitable both to gain hands on knowledge using internet and using PPT’s and video clippings for delivering the class room sessions.

10) Good Communication skills are a must for a teacher. How do you comprehend this?

Ans. A good teacher must be a good communicator. Without good communication skills one cannot get the students attention however knowledgeable the person might be. Obviously what matters is the output or the delivery and no one would count on the time spent on preparation or the years of experience gained.

11) What techniques do you follow to ensure active participation of the students in the class?

Ans. Communication should always be two way. The teacher delivering the lesson and students listening to it is an old style; the teachers today need to be facilitators. Easy techniques like giving small assignments on the subject, conducting quiz competitions and making presentations on the topics supports students to gain interest on the subject.

12)  In your opinion what are the categories of children based on their level of intellectual capability and what strategies do you follow to create an enthusiasm in them.?

Ans. Yes, the performance of the students in the classroom as well as in the examinations help the teachers in assessing them. The categories would be bright, average and below average. The focus would be on average and below average students. Counsel the students during the monthly reviews and understand where they would need extra help and prepare a modified study plan for them. Conduct extra study hours if necessary for those students to clarify their doubts and help them gain confidence.

13) Discipline is very significant for the success of any individual and what is the role of a teacher in it?

Ans. Schools / educational institutions are the places where the seeds of discipline are sown in the young minds. Students learn the skills to build a bright life where discipline in time, work, and attitude play an important role. Even though the students remember their teachers as ‘strict masters’, teachers need to be truly committed in making the students abide by the rules and regulations. Giving punishments is justified to ensure that the student is on the right track and that indirectly goes to the teachers as a credit.

14) What are your main contributions to the development of the institution you are presently working?

Ans. To answer this question, you can say something like - Yes, I contributed to several initiatives that helped in making our institution a famous one in the primary school education in the town\ city.

Illustrate with how you have taken initiative and implemented with the concurrence of the Principal & colleagues. For e.g. ,

1. Introducing practical sessions for all the classes irrespective whether it is a School Board mandate or not. This was a welcomed by all the colleagues and principal as this would help the students in understanding the concepts better.

2. Conducting quarterly extra- curricular assessments of the students in the activities that they have opted during the start of the academic year. This has actually helped in making the students attention on extra- curricular activities and not just the subjects.

15) What can you contribute to our institution if you are selected?

Ans. This is a type of trap where the interviewers try to assess your over-confidence. One thing that has to be understood is that any development initiatives can be suggested only after understanding the systems better. As an outsider you do not know what the existing practices are. Hence your answer must impress them that you would like to get into the system and then accordingly contribute for the betterment of the institution.

16) What is your opinion about team work and share an example of a situation where you have outperformed as team member?

Ans. Team work is very important whatever may be the profession we select, as one single person cannot do everything by himself / herself. Contribution of work, providing help to each other and coordinating among the staff members is a must in any of the activities in the institution.

Share examples of when you organized events or functions in the institution by proper planning and execution while working as team.

17) What changes do you foresee in the next 5-6 years in the educational system in our nation?

Ans. With the progressions in the technology the exposure that children are getting nowadays is enormous. Text books are not the single resource of information anymore. Hence I feel that there would be major enhancements in the course curriculum and also the process of assessment would change.

18) Do you believe that punishment is the finest tool in improving the performance of a student?

Ans. I have experienced that the fear of punishment is always a good tool to enhance the performance of a student.

Punishment would not physically hurt the student as it should only deteriorate the student-teacher relationships.

The punishment must only motivate the student to put extra efforts to increase their knowledge on the subject and also secure good rescore in the examinations.

19) Describe the toughest situation you have faced in handling a student and how did you manage protecting the interest of the institution.

Ans. This type of question tests the perseverance of a teacher to help his \ her students to grow as a fruitful person and drive them with positive attitude on dissimilar aspects of life.

Narrate a situation where you had to handle a student with a consistent behavioral problem or disobedience of instructions. How you have counseled both the student and the parents to make the student realize the faults committed. Give necessary chance and support to put on the same track which rest of the students are traveling.

20) How do you develop the confidence and self-esteem in your students?

Ans. Teachers must understand that the abilities of students differ from one another. Giving chances to perform to only those students who are bright and enthusiastic is not the correct process. This would actually lower the confidence levels of more than 50% of the class who fear of failure and poor performance.

One can say that, in the present institute, we make sure that each and every student takes part in both classroom activities and extra-curricular activities. This really helps the student overcome fear of not performing well over a period of time and start gaining confidence and build self-esteem.

21) What is your approach in the parent- teacher meetings and how do you carry the performance of the student to the parents.?

Ans. The fact is that parents look forward to teachers as the ones who groom their children and help them get success in their lives. Also the time parents are able to spend with their children is coming down day by day due to numerous reasons. This really builds on the expectations on the institution and the teachers.

The parent-teacher meetings would not be just to let the parents know about the marks & grades the students gain. The emphasis must be made on the areas of strengths and improvements required and also guide the parents on understanding the interests of child while helping him \ her in realizing the dreams. There would be some differences of opinions which

22) What other activities you like to be involved in the school?

Ans. Think of your own interests and share opinions in different areas like coaching the students in sports, counseling the student on creating awareness on harassment and molestation, creating awareness on healthy food habits etc. which can support the society as a whole.

Describe your relations with the principal and other teachers in the present job. A good interpersonal relation with the principal and teachers is very much necessary to accomplish the objectives of the institutions. There would be some differences of opinions which need to be sorted and deal with maturity. Illustrate the situations when you have shared happy moments both professionally and in personal life with your team.

23) What inspires you and helps you maintain high spirits at all times?

Ans. The passion that students show in the class and the kind of doubts that they ask are the driving forces for any teacher. Learning is a give and take procedure. Making the students understand complex concepts in a simple way that they remember gives a lot of satisfaction for a teacher.

Recollect a situation where you were not in your normal mood in the class but how you were made to recoup to usual by your students.

24) How good are you in time management and handle work load towards the end of the academic year?

Ans. Managing and planning time is extremely important for a teacher to ensure completion of the course of the subject at stipulated time before the academic examinations. Knowing the curriculum at the start and deadlines for both the internal and external assessment, I plan the amount of hours for each lesson and strictly execute it. In case of any unexpected disturbance, the management of the institution always helps in conducting special classes with ultimate goal of completing the syllabus.

25) What is your career goal and where do you want to see yourself in the next 10 years?

Ans. This question is to check on how aspiring the individual is rather than just being contended with the present position.

One can say somewhat like - My career goal is to become the head of an educational institute. The experience gained till now gives me a confident feeling that I can achieve my goal in the next ten years.