Accountant/ Accounts Executive Interview Questions and Answers in 2025 (100+ Q&A)

Account Receivable Accountant/ Accounts Executive

Ques:- Explain about Accounts Payable.

Asked In :- Mercedes-Benz Financial Services, Sbicap Securities Ltd, MUFG Union Bank, wmc, connect first credit union,

Right Answer:
Accounts Payable refers to the money a company owes to its suppliers or vendors for goods and services received but not yet paid for. It is a liability on the balance sheet and represents short-term debts that need to be settled within a specific period, usually within a year. Managing accounts payable involves tracking invoices, ensuring timely payments, and maintaining good relationships with suppliers.

Account Payble Accountant/ Accounts Executive

Ques:- What do you understand by Open Item Managed Account?

Asked In :- consolidated hallmark insurance plc,

Right Answer:
An Open Item Managed Account is an accounting method where each transaction is recorded as an open item until it is fully settled or cleared. This allows for tracking outstanding invoices and payments, ensuring that all items are accounted for until they are resolved.

Account Payble Accountant/ Accounts Executive

Ques:- Explain the information about cost sheets?

Asked In :- deloitte luxembourg, the bank of khyber, fccs,

Right Answer:
A cost sheet is a document that outlines the total costs associated with producing a product or providing a service. It typically includes direct costs (like materials and labor), indirect costs (overheads), and fixed and variable costs. The cost sheet helps in determining the cost per unit, setting prices, and analyzing profitability.

Accountant/ Accounts Executive Cost Accounting

Ques:- Why to work as an accountant?

Asked In :- Bharat Forge, Prakash Kochar & Co, Mr Price, Amul, zamil steel, family bank ltd, oem, south african institute of professional accountants (saipa), bristol id technologies,

Right Answer:
I want to work as an accountant because I enjoy working with numbers, analyzing financial data, and helping businesses make informed decisions. It offers a stable career with opportunities for growth and the ability to contribute to a company's success.

Accountant/ Accounts Executive Cost Accounting

Ques:- What are the qualities that make for a good accountant?

Asked In :- CBRE South Asia, Al-Futtaim Engineering, India Shelter Finance, Lion International Bank, jindal steel & power ltd., iko industries, butterfield bank, shyam metalics and energy limited, lc,

Right Answer:
A good accountant should have strong attention to detail, analytical skills, integrity, good communication skills, proficiency in accounting software, and the ability to work under pressure and meet deadlines.

Account Payble Accountant/ Accounts Executive

Ques:- What is the difference between Expenses & Expenditure ?

Asked In :- BUP, triOS College, s&p global, aksia, bu finance & investment club student managed investment fund,

Right Answer:
Expenses are the costs incurred during a specific period for operations, while expenditure refers to the total amount spent on acquiring assets or services, which may not necessarily be tied to a specific period.

Account Payble Accountant/ Accounts Executive

Ques:- Can you give a sample Process Flow for Procure to Pay Cycle?

Asked In :- CPCL, Property and Casualty Insurance Compensation, st john of god health care, connells, leeds building society, seaoil philippines, inc., golub capital, szabist, zerodha, freightos,

Right Answer:
1. **Purchase Requisition**: Department identifies a need and submits a requisition.
2. **Purchase Order Creation**: Procurement reviews and creates a purchase order (PO).
3. **PO Approval**: PO is sent for approval based on company policy.
4. **Order Placement**: Approved PO is sent to the supplier.
5. **Goods/Services Receipt**: Supplier delivers goods/services; receiving department verifies and records receipt.
6. **Invoice Receipt**: Supplier sends an invoice for the delivered goods/services.
7. **Invoice Verification**: Accounts Payable matches the invoice with the PO and receiving report.
8. **Payment Processing**: Once verified, payment is scheduled and processed.
9. **Record Keeping**: All documents (PO, invoice, receipt) are filed for record-keeping and audits.
10. **Payment Completion**: Payment is made to the supplier, and transaction is recorded in the accounting system.

Accountant/ Accounts Executive Audit

Ques:- How does the internal audit differ from an external audit?

Asked In :- Bangladesh Securities and Exchange Commission BSEC, Bank AL Habib, BPSC, NBP National Bank of Pakistan, Aditya Birla Housing Finance, Mcb Bank, point72, cmc markets, securian financial group, pkf littlejohn,

Right Answer:
Internal audit is conducted by employees of the organization to assess internal controls and processes, while external audit is performed by independent auditors to provide an objective evaluation of the financial statements for stakeholders.

Accountant/ Accounts Executive Audit

Ques:- What do you mean by vouching?

Asked In :- Offshore Accounting & Taxation Services, DFO, Excise Department, S S Kothari Mehta & Co, The Hasti Co-Op Bank, Meezan Bank, Pan Asia Bank, bureau veritas, san miguel corporation, deliveroo,

Right Answer:
Vouching is the process of verifying the authenticity and accuracy of financial transactions by examining supporting documents, such as invoices, receipts, and contracts, to ensure that they are recorded correctly in the accounts.

Accountant/ Accounts Executive Audit

Ques:- What is The Statutory Audit mean?What are its details and procedure?

Asked In :- Omega Healthcare, Shriram Finance, S S Kothari Mehta & Co, Bank Negara, The Hasti Co-Op Bank, Mahagenco, ey, bdo uk llp, inland revenue nz, bernhard schulte shipmanagement,

Right Answer:
A statutory audit is a legally required review of the accuracy of a company's financial statements and records. It is conducted by an external auditor to ensure compliance with accounting standards and regulations.

The procedure typically involves:

1. **Planning**: Understanding the business and its environment, assessing risks, and developing an audit plan.
2. **Fieldwork**: Collecting evidence through tests of transactions, internal controls, and financial statements.
3. **Evaluation**: Analyzing the collected data to form an opinion on the financial statements.
4. **Reporting**: Issuing an audit report that includes the auditor's opinion on whether the financial statements present a true and fair view of the company's financial position.
5. **Follow-up**: Addressing any issues or recommendations identified during the audit.

Accountant/ Accounts Executive Audit

Ques:- Explain Different Functions Of Internal Audit?

Asked In :- CPCL, TFT, Fino Payment Bank, SAICA, Office of the Auditor General, VITAE International Accounting Services, kpmg canada, bdo uk llp, zenith bank, commercial bank of ethiopia,

Right Answer:
The different functions of internal audit include:

1. **Risk Assessment**: Identifying and evaluating risks that could affect the organization.
2. **Compliance Monitoring**: Ensuring adherence to laws, regulations, and internal policies.
3. **Operational Efficiency**: Assessing the efficiency and effectiveness of operations and processes.
4. **Financial Accuracy**: Verifying the accuracy and reliability of financial reporting.
5. **Fraud Detection**: Identifying potential fraud and irregularities within the organization.
6. **Control Evaluation**: Assessing the adequacy and effectiveness of internal controls.
7. **Advisory Services**: Providing recommendations for improvements and best practices.

Accountant/ Accounts Executive Audit

Ques:- How can scope of internal audit help you?

Asked In :- Omega Healthcare, Pramata, First American, PRGX Global, escalon, KNAV, EYG, The Gayatri Co-operative Urban Bank, The Bharat Co-Operative Bank (Mumbai), Vested Finance,

Right Answer:
The scope of internal audit helps by identifying risks, ensuring compliance with laws and regulations, improving operational efficiency, and providing recommendations for better financial management and controls.

Accountant/ Accounts Executive Accounting Standard

Ques:- Explain the accounts payable cycle?

Asked In :- caresoft global, north star bluescope steel, link group (lnk),

Right Answer:
The accounts payable cycle involves the following steps:

1. **Purchase Order Creation**: A purchase order is generated when goods or services are needed.
2. **Receiving Goods/Services**: The ordered items are received, and a receiving report is created.
3. **Invoice Receipt**: The supplier sends an invoice for the goods or services provided.
4. **Invoice Verification**: The invoice is matched with the purchase order and receiving report to ensure accuracy.
5. **Approval for Payment**: Once verified, the invoice is approved for payment by the appropriate authority.
6. **Payment Processing**: Payment is made to the supplier, either through check, electronic transfer, or other methods.
7. **Record Keeping**: The transaction is recorded in the accounting system for financial reporting and tracking.

Accountant/ Accounts Executive Accounting Standard

Ques:- Detail your responsibilities in accounts receivable?

Asked In :- Slater & Gordon UK, International Criminal Court (ICC), ubs, repco home finance ltd, ernest jones,

Right Answer:
My responsibilities in accounts receivable include managing customer invoices, tracking payments, reconciling accounts, following up on overdue payments, maintaining accurate records, and ensuring compliance with accounting policies and procedures.

Account Payble Accountant/ Accounts Executive

Ques:- What is the cost sheet?

Asked In :- ABN AMRO, AK Capital Service, Constellation Software, bata, assupol life, public investment fund (pif), scottish power energy networks holdings ltd.,

Right Answer:
A cost sheet is a document that outlines the total costs associated with producing a product or providing a service, detailing various expenses such as materials, labor, and overhead, to help in budgeting and financial analysis.

Accountant/ Accounts Executive Audit

Ques:- Tell me that how I can evaluate the internal control audit?

Asked In :- Commonwealth Bank of Australia, SAICA, MNP LLP, HIMT, Pan Asia Bank, Mcb Bank, CLA (CliftonLarsonAllen), defense contract management agency (dcma), capitec bank, bluecross blueshield of tennessee,

Right Answer:
To evaluate the internal control audit, follow these steps:

1. **Understand the Control Environment**: Assess the organization's culture, governance, and ethical values.
2. **Identify Key Controls**: Determine which controls are critical for mitigating risks in financial reporting and compliance.
3. **Test Control Design**: Evaluate whether the controls are properly designed to prevent or detect errors and fraud.
4. **Test Control Operating Effectiveness**: Perform tests to see if the controls are functioning as intended over a period.
5. **Assess Risk**: Identify and evaluate risks associated with the controls and their impact on financial statements.
6. **Document Findings**: Record the results of your evaluation, including any deficiencies or areas for improvement.
7. **Report Recommendations**: Provide actionable recommendations to strengthen internal controls based on your findings.

Account Payble Accountant/ Accounts Executive

Ques:- What is a IFA?

Asked In :- AvenDATA GmbH, sac, h&t pawnbrokers,

Right Answer:
IFA stands for Independent Financial Advisor.

Account Payble Accountant/ Accounts Executive

Ques:- what about the SWEEP command in AP?

Asked In :- Redcliffe Life Sciences, easyfinancial, wolters kluwer, jtc group, the morning star company,

Right Answer:
The SWEEP command in Accounts Payable (AP) is used to automatically clear or settle small outstanding invoices or payments that are below a certain threshold, helping to streamline the accounts payable process and maintain accurate financial records.

Account Payble Accountant/ Accounts Executive

Ques:- What do you mean by WCC?

Asked In :- Petrofac Ltd, jmi equity,

Right Answer:
WCC stands for "Working Capital Cycle," which refers to the time taken between outlaying cash for raw material and receiving cash from product sales.

Accountant/ Accounts Executive Cost Accounting

Ques:- Will you save me money?

Asked In :- CPCL, Excise Department, NJ India, FinEdge, Bharat Benz, Trade Finance Solutions, amerisourcebergen, kpmg singapore, aequs, kra(kenya revenue authority),

Right Answer:
Yes, I can help save money by analyzing costs, identifying inefficiencies, and implementing budget controls to optimize spending.

The Accountant / Accounts Executive category on takluu.com is designed for professionals responsible for maintaining accurate financial records, handling accounts payable and receivable, and supporting financial audits. These roles are critical for the smooth functioning of an organization’s finance department.

This section covers essential topics including journal entries, ledger posting, bank reconciliation, invoicing, payroll processing, taxation basics, and preparation of financial statements. Interview questions also test knowledge of accounting principles (GAAP/IFRS), compliance regulations, and use of accounting software like Tally, QuickBooks, or SAP.

Candidates preparing for positions such as Junior Accountant, Accounts Executive, Finance Assistant, or Bookkeeper will find curated interview questions, practical scenarios, and tips on managing day-to-day accounting tasks efficiently.

Interviewers typically assess your accuracy, attention to detail, and understanding of financial processes. You may be asked to explain how you handle reconciliations, manage expense reports, or ensure timely submission of tax filings.

At Takluu, we provide detailed study materials and example questions to help you build confidence and demonstrate your competence in interviews.

Whether you are a fresher starting your career or an experienced professional seeking advancement, this category offers comprehensive preparation to help you succeed in accounting roles.

Questions in: Accountant/ Accounts Executive

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