If you are looking for a job as an accounting administrator, you are surely up for a challenge. When you are up for a job in the accounting domain, then the questions the interviewee often asks are tricky to answer. If your answer is not accurate, then chances are you may blow up the interview. Since the accounting sector is competition intensive, preparing beforehand for the interview to assure that your performance in front of the interviewee is highly impressive is a very good idea. Luckily, we have covered you with a list of questions for an accounting administrator interview.
1. Why Are You Interested In This Job?
Accounting and finance are the core of every business, and our industry is full of opportunities in the same domain. However, every opportunity is not as promising, which is why I chose to apply to your firm. I am interested in this position because I look forward to being a part of a firm that incorporates the best, highly skilled, and professional accountants. Such a competitive workforce is excellent for professional and personal growth regarding my personal career development goals. I seek a dynamic work environment that challenges me to continuously upgrade my knowledge and skillset to deliver the best performance. I need such exposure to sharpen my analytical skills and acquire proficiency in providing accounting solutions to B2B international clientele.
2. What Are The Roles Of An Accounting Administrator?
An accounting administrator plays a critical role in the firm, which includes:
- Account Review
- Account Reconciliation
- Monitoring Payments Release to External and Internal Partners
- Receive and Verify Bills
- Monitor Operational Cost
- Assist in Audit
- Assist Finance Team
- Reporting for Cash Flow
- Maintain Ledgers and Sub-Ledgers
- Tax Filling etc.
3. What Are The Qualities An Accounting Administrator Needs To Be Successful?
The accounting sector is competition intensive; therefore, relying only on theoretical knowledge is not enough for an accounting administrator. Relevant experience alongside theoretical knowledge is critical to gaining the necessary skill set that makes a person suitable for this post. These soft skills include:
- Critical Thinking
- Analytical Skills
- Organizational Skills to be able to work in a structured manner
- Technical knowledge with curiosity to discover/ learn the latest software
4. What Major Challenges Do You Face During Your Last Role? How Did You Manage Them?
As a junior account administrator, the biggest challenge I encountered was workload. The expectation to deliver the requirements within the stated timeline, especially with multiple timelines, gets nerve-wracking. However, using discipline, time management, and technical data management solutions helped me a great deal to overcome this challenge. Speaking of a technical solution for data management, another inevitable challenge for accounting and finance employees is the rapid advancement in database management systems and rapid version upgrades in the software. It is challenging to keep up with such rapid transformation to compete in the industry as a talent. I maintain a continuous knowledge check and keep learning new tips and tricks for the software I use. I have established a good network of people working in the same field so sitting with them provides great insight.
5. Describe Your Daily Routine As An Accounts Administrator?
My routine is based on keeping a good mental organization mechanism, so I am always on top of things. I check my emails to wind up any follow-ups early morning, then divide the entire day into chunks dedicated to each task organized as per the priority. I handle any urgent work requirements or urgent matters by multitasking, and I keep my coworkers engaged so that we deliver as a team and the workload is divided among all of us.
6. Describe Briefly About Your Experience?
I have been a very good student of mathematics. I liked to help my dad with family budgeting, and while he did not like it, I kept the tabs on our cash inflows and outflows to allow him to make savings. I established a goal to be an accounting professional and aligned my experience and education with this goal. I completed ACCA, and now I am preparing for CIMA. Alongside I have done internships at different well-reputed organizations to remain hands-on.
7. What Kind Of Strategies And Mindset Are Required For This Role?
I believe in self-discipline to ensure long-term results. Therefore, self-management and a critical outlook are vital for meeting the requirements of this role. Sharp mathematics, a keen eye, and good stress management are other essentials for this role. There is no stagnation in the accounting field. The field itself is very dynamic. It is growing, evolving, and becoming complicated each day. Therefore, if your mindset is such that you consider attaining a certain fixed point in your accounting career then you have stagnated yourself and you will become quickly outdated. A growth mindset is vital for this role. Another important mindset for this role is training yourself to be a team player. This role encourages one to not only have great technical and analytical skills but also provides an opportunity to establish good interpersonal skills for continuous communication and coordination.
8. What Is The Biggest Challenge You Foresee In This Job?
I think the biggest challenge would be to meet the international clientele expectations. The business locally and internationally has different demands. Getting hands-on with the financial statements of clients through virtual connectivity is a challenge. I also find alterations in tax codes an ever-present challenge for accounting and finance professionals. These changes create more complexity in the nature of tasks faced by accountants than any true field specialist would agree.
9. How Do You Stay Motivated At Work?
Do you know the Expectancy Theory of Motivation? So, I believe that the biggest motivation powerhouse is from within. The work propels me each day toward actualizing my personal career goals and performance enhancement gives me an extra edge to complete my financial and personality development goals. Apart from that, I stay motivated by ensuring that I am not overworked. I take measures to create a balance between my personal and professional life. I monitor my fitness to stay energetic, driven, and motivated. Establishing healthy and cordial relations with coworkers is also a motivational source for me. When we are in this together, the journey becomes worthwhile.
10. Describe A Time You Failed In This Role And The Lesson You Learned?
The organizing and time management skills are learned from multiple failures I encountered when I embarked on this career path. However, I see every failure as a learning opportunity, so I am always open to changes in my habits and ways, outlook, and perception to turn failure into success. Among the various tasks assigned to me as a junior account officer, I found it hard to meet the deadlines. I was not very fluent in the tech systems at the beginning of my career, and the excel workbench often crashed. So, I managed to handle such failures by sharpening my skills and introducing discipline and time management in my life.
11. Why Do You Feel Qualified For This Job?
Not only that I meet the qualification requirement of this job, but I also possess the relevant experience in the industry to deliver the expected results in this position. I am a very competent person with a focused mind. I am not only hands-on with the accounting system your company uses, but I know other data analytics software that could come into use while on the job. Last but not least, I am confident that I will be a valuable asset to your team.
12. Share With Us Your Greatest Achievement.
I obtained the most likable employee among the top four clients in my last firm. Actually, in that firm, when they send their team of employees on a project, they evaluate customer dealing and customer retention. As you know, the finance department is a hotbed for conflicts with clients due to data transparency issues, handling such scenarios and avoiding conflicts is preferable by our company. I could conduct accounts reconciliation in the absence of our client’s finance manager, who was recently fired, and they did not have his replacement. We did have a lot of stress and constraints, but I was able to troubleshoot quickly and submit reports within the due date. I feel proud that I have grown professionally to be able to handle such difficult clients. Academically, I recently completed my GAAP certification, which makes me eligible for this job, and it is one of my dreams that came true.
13. In Which Accounting Software Are Fluent?
I have complete proficiency and about five years of working experience on Quickbooks. Its elaborate features make it the most user-friendly and one of the best accounting tools. We have dealt with online retail networks, so I have experience using Synder. Apart from this two software, I am sure that I can quickly learn any new technology with my learning and adapting skills.
14. How Can You Distinguish Between A Good And A Great Accountant?
Well, a good accountant knows his work and has the skills and ability to handle accounting issues. He meets the deadlines, he is apt at planning, and he is committed to his work. The subtle factor that makes a good accountant a great one is his ability to be as keen as an eagle. His detail orientation makes him extremely vigilant, and he rarely makes a human error. His practice and precision make him a great accountant.
15. Can You Use ERP Technologies?
I am Oracle Enterprise Manager certified, and I have worked on Oracle in my previous firm. All global and well-established organizations rely on enterprise resource planning software, so I believe the knowledge of one such software should be considered a core competency. I also have knowledge and experience in using SAP.
16. Do You Use Accounting In Your Day-To-Day Life?
Of course! Accounting is everywhere. Without accounting, one does not keep a balance between the inflow and outflow of cash, nor can one manage his/her resources for a brighter future. I use accounting to manage my income and assets.
17. Name The Three Financial Statements
The balance sheet, income statement, and cash flow statement are the three important financial statements of organizations. If you are handling a public firm, these records are publicly shared. For all types of firms, the data in a financial statement represents the same meaning but the contents it carries differ from industry to industry. The balance sheet determines the liabilities, assets, and equity information. A cash flow statement provides information about the inflow and outflow of cash and is a great way to represent transactions and business activities.
18. How Do You Reduce Human Errors As A Member Of The Finance Team?
The data is critical, and any mistake could render serious challenges and data discrepancies for the partner firm. As a member of a finance team, I have cordial relations with each team member so that I am sure about the capability and stress-bearing capabilities of each of my teammates. We divide and conquer the work based on our skills and expertise. We ensure a cross-checking mechanism after filing to avoid any errors.
19. Do You Think Old Ways Of Bookkeeping Were Better Than The Technology-Driven Methods Of Today?
While the traditional booking keeping and ledger maintenance methods seem fairly applicable, the enormity of operations of the contemporary organization would not match the orthodox bookkeeping methods. The software has made data collection, submission, analysis, and records fairly easy and timely, and cost-effective.
20. Do You Prefer Flexible Hours Or A Rigid Schedule?
I think accountants require a great deal of discipline in their life. Therefore, I prefer a rigid 9 to 5 schedule over flexible hours. Even though COVID has allowed the introduction of flexibility and hybrid working models, the criticality of the jo nature for accountants cannot handle a flexible approach. Or so I believe.
21. Can You Differentiate Between Executive And Public Accounting?
Public accounting allows the company to be transparent and be assessed its performance, and uphold accountability. Executive accounting, on the other hand, is for service-oriented businesses. Public accounting checks for the accuracy of the data before revealing it to the public, while executive accounting is for internal review.
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22. How Can You Manage Conflict?
A great way of conflict management is not having a reactive approach. Rather, the parties should be allowed to express their point of conflict and communicate to resolve it. A good leader listens, observes, and allows freedom of expression.
23. Do You Think Technology Can Eat Accounting Jobs?
The emergent technological advancements are surely promising. Algorithms and machine learning are already replacing many jobs. However, software that is free from the discretion of a human accountant is a possibility, but it is surely a far-sighted dream.
24. Are You A Team Person?
I do not think anyone can excel in a career without establishing the soft skill of being a team player. I am a team person. I have an extroverted personality, and I enjoy working together with people. Cordial workplace relationships increase my productivity.
25. How Can We Manage Operational Costs?
As an account and finance person, I have a detailed analysis of this company’s financial health to devise cost-cutting measures. While currently, you are doing great vis-à-vis cash flow, you could start by unsubscribing to various software/ digital apps which are not frequently in use in the company.
Competition-intensive job market puts a lot of pressure on even the most skilled professionals to get nervous about the job interview. The accounting positions are replete in the market but choosing a correct job opportunity and acing it are both huge challenges. The article above for the job interview for the accounts administrator post covers the most important and technical questions an employer may ask you as a potential employee. The employer likes to see confidence and preparedness in his candidates therefore, this article is there to help you prepare for standing out in your job interview. This article helps you to prepare and be ready for the interview questions that are going to test your technical and academic acumen. Apart from these questions, ensure you are well-groomed and confident when you enter the interview venue because, of course, as the popular saying goes, the first impression is the last impression. Once you get control over your non-verbal communication, with the help of this article you will be able to leave a remarkable first impression on your interviewee with your knowledge and grasp of the interview. It is good to be putting yourself up for the challenges because that is how we grow. We wish you all the best for the upcoming interview. Share with us how much this article helped you get through your interview!