Staff Accountant Interview Questions

"Accounts receivable represents money that customers owe a business for their services or products and are an asset. Accounts payable is a liability as it's money a business owes to suppliers, debtors, or investors."

"In my previous positions, I used Sage Intact, SAP Business One, and Oracle E-Business Suite. I used these ERP systems as a staff accountant to come up with an accurate budget, allocate our cash flow and manage payments to staff and vendors. I learned how to use most of these systems myself, so I'm confident I could learn a new ERP quickly if your company uses a different one to what I'm used to."

"After working as a Staff Accountant for the last four years, I have developed great time management skills and strong attention to detail. I think these are two of the most important skills a Staff Accountant should have as they keep me on track and allow me to find and fix any mistakes in my work. My bachelor's degree in accounting has also honed my math and finance skills, so I have relevant practical knowledge as well."

"If I'm explaining an accounting process or strategy to someone that I know has no finance background, I don't use technical terms. Instead, I thoroughly explain the idea or concept I'm trying to get across. I'm also more patient with these conversations and make myself available to answer any questions the person has so they can better understand."

"In my previous roles, I used Dayforce HCM, Patriot Payroll, and NetSuite SuitePeople to streamline the accounting process. I adapt to new software easily, so I'm happy to learn how to use any software you prefer."

"When I first started in my previous role, I forgot to mark the invoices we sent to clients as paid or unpaid for a few months. When I went to check if a customer paid an invoice, I realised my mistake. I then had to search through all of our emails and bank statements to mark the invoices as paid and follow up on unpaid ones. Going forward, I marked invoices as paid as soon as we received payment, and moved them to a different folder. This process made it clear and easy to find which invoices were outstanding."

"I use accounting software to ensure all the math is correct, but double- or triple-check all my data entries. I know that if I enter the wrong numbers in the wrong place, it won't matter if the calculation is correct. So, I always examine my work thoroughly after every step and give it a final review before submitting it."

"In my previous role, I was always busy, especially around tax season. This meant I always had various deadlines to meet. I managed them by inputting every project and deadline in a calendar. This allowed me to organise my tasks and delegate them when necessary. I aimed to finish a project a day or two early to give myself extra time to fall back on. This was especially helpful when I had two tasks due on the same day."

"In my previous role, I worked at a large company, so I was only responsible for accounts receivable and accounts payable. I sent out accurate invoices to our customers to ensure they paid us on time. If customers were late making payments, I would send out reminders and escalate the issue if necessary. I also kept track of the invoices we needed to pay and made sure we paid on time to avoid penalties."

"I create a to-do list at the beginning of the week. This helps me see all the tasks I need to get done and prioritise the time-sensitive ones.High-priority tasks with a strict deadline go to the top, allowing me to finish them quickly. If anything on my list doesn't get done, I put it at the top of my to-do list the following week."

"I love to learn, so I'm always looking for new ways to improve my accounting knowledge. Recently, I completed a Sage 50 Accounting course to learn how to use the software. I also attend accounting seminars or conferences whenever I can, such as the Canadian Academic Accounting Association annual conference. This allows me to learn more about current trends or industry news and meet like-minded people."

"In my previous role, I implemented working capital business metrics to analyse the company's financial health. I used working capital to determine the number of assets the company had available to use in the short-term. It's a simple metric to use, as all you need to do is subtract the company's liabilities from its assets. The amount left over is the company's disposable income."

"I'm familiar with four types of budgeting methods: zero-based, value proposition, activity-based, and incremental. I have the most experience with zero-based budgeting, which gives me total control over the budget when I first start with a company. Value proposition budgeting considers how the budget can bring value to the business. Activity-based budgeting determines what activities the company needs to do and the money they need to spend to reach predetermined goals. Finally, incremental budgeting uses the previous year's figures to create a new budget."

"The three financial statements are balance sheets, cash flow statements, and income statements. A balance sheet shows the company's net worth, liabilities, and assets. Cash flow statements show the company's cash from their operations, investments, and financing. Income statements show the company's annual and/or quarterly earnings."

"I disagreed with a colleague once in my previous position. He was a department manager and didn't agree with a new budget I was implementing. I organised a meeting with him to discuss his concerns. He thought the budget was too restrictive while I thought it would help us redirect our cash flow. We agreed to try the budget for three months and readjust it if necessary."