Interview Questions

[Gmac]

Hi,

I am a junior accountant and have an upcoming interview this week. I had one last week and came 2nd out of 14 shortlisted applicants.

I was very disappointed and in my feedback they said my two weakest answers were to the questions: (my answers were not detailed enough)

How would you close a set of accounts?

and

What is a balance sheet (that part was fine) and can you describe how you would verify some of the items on a balance sheet?

Can anybody provide any pointers on how to answer these questions with enough detail but short and to the point.

Many thanks

 

[og954]

Tough questions. I am also in the interviewing phase of my life, trying to land my first accounting job. I know how frustrating it could be. One of the recruiters I met with last week gave me a good pointer right before an interview I was scheduled for. He said to try not to give textbook answers, but instead to include some of your skills in the answer. Preferable a skill that the employer is looking for.

For example, you can explain what a balance sheet is and say I would use my analytic skills to randomly choose an account and analyze the transactions that gave us the balance for any discrepancies. Something like that.

I hope this helps and good luck.

 

[marrylincoln]

Don't be afraid.Be patient and confident.Learn the basic terms of accountcy.You should know about basics.Your confidence and luck matters much far than your knowledge. All THe best..

 

[Accountant1]

How would you close a set of accounts?
Try: Monthly Financial Close Process Checklist
It has the sort of things they'd have expected you to discuss.

Describe how you would verify some of the items on a balance sheet?
There are 2 types of things you can do here. 1) Physically verify the balances. E.g. for cash, actually check the bank statements and associate bank recs, or for fixed assets, the deeds/invoices, and the presence of the actual asset (i.e. a building). 2) More analytical review type procedures. So on top of physical verification, you sense check that the numbers make sense. For example, if you've had way more sales in the year, you'd expect debtors to go up, unless there have been some major changes to your credit control process.

They're actually questions that are more suited to auditors to answer, so I wouldn't be too hard on yourself.

If you're looking for any interview tips on the 'softer skills' people may be looking for, have a look at our site: big4gossip - HR Interviews

It's predominantly aimed at people trying to get into the Big 4 accountancy firms, but it's got some generic advice in there too that you might find helpful.

Good luck! Accountant 1 big4gossip - News | Salaries | Guides for Big 4 accounting firms

 

[rwoodfield]

How did you get on Gmac?