Bookkeeping Question

Published on April 2017 | Categories: Documents | Downloads: 10 | Comments: 0 | Views: 76
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 The Bookkeeping is very general job and the work done by a book keeper depends from company to company. But normally a bookkeeper is responsible for keeping records concerning financial financial transactions. They can also perform different kind of  works which includes accounting, inventory control, bookkeeping, purchasing and other administrative functions. They are also responsible for preparing financial statements and reports, collect funds, maintain legers, distribute money among different departments of the organization and calculate employee’s wages. So, now let me tell you about some questions that are normally asked by the candidates during a bookkeeper interview.

Tell us something about your long term goals? I want to secure a long term position of a bookkeeper in a dynamic organization where I can utilize my ten years experience in the accounting field and special skills in maintaining records, preparing financial statements and calculating errors for the benefit and growth of the enterprise. 2. What is the difference between liability and asset? Liability and asset are two completely different things but without them it is impossible to successfully successfully run a company. Assets are generally things that add value to the reputation to the company. There can be fixed assets like land, building, and current assets like stock, cash, debtors, inventory and bill receivable. Intangible assets can also be included like goodwill and patients. Liability is something that the company owes to other people, and it includes bill payable, bank loans and creditors. 3. Out of the other candidates that we have interviewed why should we choose you among the rest?  This is the most common question that is asked almost in every interview. While answering this question you need to think and answer it briefly, try to give a description of your skills and achievements to the employers. Be very positive and try to explain them how your back ground qualification really matches with the bookkeeping job description. You can also state your extensive experience in this field. 4. How can you help in the growth and progress of the company?  This question you need to answer to the point. Keeping in mind your job description, description, tell the employer how you can prove to be a benefit for their company. If you have had soft ware education and training then you can also include this in your answer. 5. Explain the difference between a profit and loss statement and the balance sheet? A profit and loss statement is prepared from time to time for a specific period may be a month or a week; it is usually prepared to find out the actual profit and loss of  the company. A balance sheet is always prepared at the end of the financial year and it is made to find out the true position of the company’s assets and liabilities.  These are some questions that are asked in a bookkeeper’s interview. As far as the accounting interview questions questions are concerned it will vary with different employers. There are many types of questions which you can be asked. Following

are some of the questions which you will have to answer if you want to excel in accounting interview. Following are the questions which you will have to answer while giving this kind of  interview. They are as follows: 1. Which accounting application do you know? For answering this question you will have to explain the accounting application on which you have worked. Just focus on the fact that how you implemented the application. You should also explain the steps taken by you. But I warn you that you should you should not give irrelevant answer. This will definitely harm your chances. 2. Explain the advantages as well as disadvantages which you have with different accounting system? Explain how the application simplified the processes which were carried out in the office. You will also have to mention that how the applications were different on the basis of process as well as complexity. 3. Present some accounting report which you have prepared for some company in the past? For this question you will have to mention that how you were able to manage the accounting principle. You should also mention that how you were able to submit the accurate and timely financial report and statements. You should also mention your abilities to follow the tight deadlines efficiently. 4. Describe any accounting processes in which you have given your suggestions and also explain that how they succeed.  To answer to this question you will have to make sure that you explain how your ideas helped in implementing various processes and finally the accounting process. But try to be as brief as possible. Otherwise the recruiter will catch you somewhere through cross questioning. 5. What according to you is the biggest challenge while facing the accounting field?  This is a general question and you will have to answer accordingly. Believe me that you should be extra smart while answering to this question. A simple answer goes like this: “in response to the changing market condition I had to provide the financial as well as management assistance. I had also to provide the consulting services. I had also to manage the more complex accounting system.” However as I have told earlier you will have to be extra cautious while answering.  These are some of the questions which you can be asked during the interviews related to accounting. However keep in mind that you will have to prepare very hard for these interviews. Otherwise I am really afraid that you will never succeed in your attempts again and again. A bookkeeper is a person who has a general knowledge regarding the record and paper flow in a business. A good office manager bookkeeper should have the knowledge regarding client invoicing and also its relation to accounts receivable.  They must also know how a company purchases from its vendors and all the importance of coding invoices.

When you go for an interview for the post of office manager bookkeeper, you are asked many questions regarding the profession. A few sample questions and there prospective answers are as follows:

1. What are assets and liabilities ? An asset is something of worth that benefits a corporation. Cash, inventory and other fixed assets come under the category of assets. Liabilities are something that is owed by the business to the outsiders. Bank loans and accounts payable are a few examples of liabilities. 2. What is a journal entry? It is an entry made in the journal and posted afterwards in the general ledger. It records all the accounting information regarding business transactions of financial nature. 3. What is the difference between a balance sheet statement and a profit and loss statement? A profit and loss or an income statement is used to measure how the company performed financially over a particular period of time. Whereas, a balance sheet statement shows the companies overall strength in terms of what the company has and what it owes to the outsiders. 4. What is depreciation? It is a process that spreads out the amount of an asset over its useful time. There are several types of depreciations used by the companies but the most common method is the straight line method. This method simply divides the cost by useful years of the asset. 5. When are the expenses recognized under the general accrual basis of  accounting? All the expenses are recognized when they happen in this type of accounting. For instance: when a purchase is made with net 30 day terms, then that particular purchase is recorded at the time of obtaining the goods or services.  You must keep in mind in some cases an office manager bookkeeper is skilled of  running all the accounting functions of a company. You must have an associate or a bachelor’s degree in accounting.  These are some of the typical questions that you can be asked if you go for an interview for the post of Office Manager Bookkeeper. A Staff Accountant is person, who has the responsibilities to prepare journal entries, account reconciliation and evaluating all current procedures. The main areas of  spotlight are fixed assets, trend analysis and simple accounting. An efficient staff  accountant also has to do settlement of balance sheet and revenue statements. Many candidates prepare for the interview of staff accountant but only a few of  them are able to crack the interview. If you are the one who is looking to go for an interview for the post of staff accountant, then here are a few questions and their suitable answers that are frequently asked in such interviews:

1. What all are the accounting applications that you are familiar with?  Tell them about all the applications that you have worked on. Explain them how you implemented the function and all the steps taken by you during the incorporation and conversion of the accounting system. 2. Give an account of your experience in preparing management accounts?  These are the questions that you are asked to give specific examples of when you have verified the required capability. You can reveal your past experiences and then plan your response accordingly. Explain in detail the result of your actions when you were involved in a certain task and what exactly you learned from that experience. 3. Give suitable examples of the accounting reports prepared by you? In this question emphasize on your experience in maintaining several accounting principles, actions and applications. You can even mention about your certain ability to meet tough deadlocks and take on multiple accounting tasks. Show your understanding of statutory accounting principles. 4. What according to you is the biggest challenge facing the accounting field today? A perfect answer to such a question could be: Accounting professionals nowadays have to offer more consulting and management services, in addition to financial management. This is mainly due to changing market accountancy. And as a result, the professionals have to provide more complex accounting systems. 5. What has been the most significant decision that you took in your office this year? Give an account of how were you able to resolve a suitable and valuable course of  action based on accurate information and factual evaluation of organizational funds and contemplation of alternatives. Before you go for an interview just make sure that you are well prepared. Don’t forget to do market research regarding the company you go for an interview. The  job interviewer would surely test your knowledge regarding his company.  These are a few frequently asked questions that might be asked to you, if you go for an interview for the post of Staff Accountant!  There are two individuals that a person, whether a businessman or a salaried one should keep close to themselves – the doctor and the bookkeeper. The doctor is someone who knows all your medical facts and secrets and the bookkeeper knows all your financial facts and secrets. Therefore, both these job positions are quite critical for your well being.  The article provides common interview questions for bookkeepers along with answers and tips.

Bookkeeping Interview Along with the knowledge and expertise, a book-keeper should also have the general loyalty that one handling such a critical position in a person’s life or a company.  The questions that are asked of a bookkeeper depend on the type of book keeping

most common questions. Going in with positive, thoughtful, and genuine responses will give this potential employer a good impression of you and your abilities

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