Accountant interview preparation

I would give a genuine reason, such as enjoying problem solving with numbers and helping decision makers understand how a business is doing. Integrity to me means reporting accurately even when the result is uncomfortable, keeping information confidential and being honest about what I do not know. I would mention following my professional body's code of conduct and asking for guidance instead of guessing when a situation is unclear. I would add that I want to keep learning, since standards and tools change. Trust is the main asset of the profession.

What this question explores

Whether your motivation is sincere and you connect ethics to everyday behaviour.

Remember it: Give a genuine reason, define integrity as accurate, confidential, honest reporting

Common mistakes

• Saying they chose accounting only for job security or salary.
• Defining integrity as simply not stealing, with no link to reporting honestly.

Practise a follow-up

• Can you give a small example of when integrity might be tested?
• Where do you see your skills developing over the next three years?

Choose a real error you found yourself, such as a wrong formula or misposted amount. Explain what you did right away, such as telling your manager, correcting the report and informing anyone who had used it. Then describe the cause and the control you added, such as a checklist, review step or a system check. Show how you followed up later to confirm it did not happen again, and what you learned.

Key points

Own action, correction, control and follow-up.

Remember it: Fix and tell users at once, find the cause, add a control

You record an expense when the cost has been incurred, even if no invoice has arrived. For example, if a service was received in the month, the cost belongs in that month. You need evidence, such as a purchase order, delivery record, contract or the supplier's confirmation, and a reasonable estimate of the amount. Then make an accrual entry. In the next period, reverse it when the invoice arrives, so the cost is not counted twice.

Key points

Explain accrual principle, evidence and reversal.

Remember it: Book the cost when received, estimate it, accrue, reverse when invoice lands

Start by writing down the process step by step, with deadlines, systems used and checks. Cross train at least one other person by having them do the work with supervision. Then add controls that do not rely on memory, such as automated reconciliations, checklists and reviewer sign off. Name a backup for each task and a review schedule. Test it by having the backup run part of the close, and track time and errors to show improvement.

Key points

Document, cross-train, automate controls and assign backups.

Remember it: Write it down, cross train a backup, add checks needing no memory

First, do not post it without support. Judge how large the entry is compared with the results, and whether it changes any key figure. Ask the person for evidence, such as a contract, calculation or approval, and explain that you need it for the audit trail. If it is material and support is not available, talk to your manager or controller before close. Follow the escalation route in company policy, and keep a record.

Key points

Assess materiality, request evidence and use escalation.

Remember it: Don't post without support; ask for evidence, escalate if material

A company can make a profit on paper but still run short of cash because profit and cash are not the same. Customers may take a long time to pay, so sales are counted but cash has not arrived. Money may be tied up in stock that is not yet sold. Suppliers may need paying sooner than customers pay. Fast growth makes this worse, since you pay for costs before you collect. That is why cash flow needs watching.

Key points

Explain receivables, inventory, payables and timing.

Remember it: Profit isn't cash: slow customers, unsold stock, bills due sooner

Work step by step. First, compare the bank statement and the ledger for timing differences, such as cheques not yet cleared or deposits in transit. Then look for duplicates, since the same item may be entered twice. Check for missing entries, like bank fees or interest not yet recorded. Look for transposed digits, by checking whether the difference is divisible by nine. Trace the remaining items to source documents, and correct and document each fix.

Key points

Trace timing, duplicates, missing entries and source documents.

Remember it: Check timing gaps, duplicates, missing entries, digit swaps, then source documents

I would make sure all entities use the same accounting policies and reporting calendar, and adjust where they do not. Each entity's figures are translated if needed, and I would eliminate intercompany balances, sales and unrealised profit in stock. Before combining, intercompany accounts must be agreed between counterparties, otherwise unmatched differences accumulate. I would review non-controlling interests and any goodwill adjustments with the applicable framework. A reconciliation from entity ledgers to the group total gives assurance, and early deadlines prevent late submissions.

What this question explores

Whether you understand the mechanics and the practical risks of group reporting.

Remember it: Align policies, eliminate intercompany items, agree balances, reconcile to ledgers

Common mistakes

• Adding subsidiary totals together without eliminating internal transactions.
• Ignoring policy differences between entities, so the combined numbers are not like for like.

Practise a follow-up

• How would you resolve an intercompany difference that two entities dispute?
• How would you handle a subsidiary that reports late every quarter?

I would begin with the work the function must do and the risks, then design roles with clear ownership, sensible spans and backup for each critical task. I would invest in skills through training, professional study support and rotation between areas, so knowledge is not held by one person. Succession plans and documented procedures reduce dependence on individuals. I would also review the balance between in-house work, automation and outsourcing. Regular goals, feedback and workload checks keep the team engaged, and I would report outcomes such as close speed, accuracy and retention to senior management.

What this question explores

Whether you can design a team structure with resilience, development and measurable outcomes.

Remember it: Clear roles, backups, cross-training, documented procedures, succession planning

Common mistakes

• Describing the structure without saying how people will develop or be covered.
• Focusing on headcount reduction as the main goal and ignoring skills, cover and growth.

Practise a follow-up

• How do you retain strong people when promotion routes are limited?
• How would you decide what to outsource?

First, read the contract and identify the separate promises to the customer, such as a product, installation and support. Decide whether each is distinct. Then work out the price for each part and when the customer receives the benefit, which sets the timing, for example at delivery or over time. Gather evidence, such as delivery records and signed acceptance. Follow the applicable accounting standard and company policy, and ask a senior colleague for a second opinion when it is complex.

Key points

Identify obligations, timing, evidence and applicable standards.

Remember it: Split the contract into promises, price each, time it, keep evidence

Do not defer the expense just to meet a target. Explain politely that the accounting rules say costs belong in the period they were incurred, and that moving it would misstate results. Check company policy and the evidence about when the cost was incurred. Suggest honest options, such as discussing the target with leadership. If the manager insists, escalate to the finance controller, the ethics line or the audit committee, and keep a written record.

Key points

Refer to policy, evidence and independent escalation.

Remember it: Refuse politely, cite the rules, offer honest options, escalate in writing

Every transaction has two sides: something is received and something is given up, so it is recorded in at least two accounts. A debit and a credit of equal value keep the accounting equation of assets, liabilities and equity in balance. For example, buying office supplies with cash increases an expense and reduces the cash balance by the same amount. If the totals differ, an entry is incomplete or has been posted wrongly, so the equality works as a built-in error signal. It does not catch every mistake, such as posting to the wrong account.

What this question explores

Whether you understand the logic behind debits and credits rather than memorising which side is which.

Remember it: Every deal has two sides, so equal debits and credits keep balance

Common mistakes

• Saying debits mean increases and credits mean decreases for every account type.
• Claiming a balanced trial balance proves the books are completely correct.

Practise a follow-up

• Can you give an example of an error that a balanced trial balance would not reveal?
• How does a debit affect a liability account compared with an asset account?