2-5 years of experience - interview question for accountant

• Tell me about yourself.
  Highlight your educational background, relevant work experience, key accounting tasks handled, software skills, and career goals.

• What accounting software are you familiar with?
  Mention any ERP or accounting tools like Tally, SAP, QuickBooks, or Oracle and your level of expertise.

• Explain working capital and its importance.
  Working capital = Current Assets - Current Liabilities; it indicates liquidity and operational efficiency.

• What are the main accounting standards followed in India?
  Discuss Indian Accounting Standards (Ind AS) and their alignment with IFRS.

• How do you ensure accuracy and minimize errors in your accounting work?
  Talk about reconciliation processes, double-checking entries, software tools, and adherence to accounting principles.

• Describe your experience with GST and indirect taxes.
  Explain registering for GST, filing returns, and compliance requirements.

• What is a bank reconciliation statement? How do you prepare it?
  Match company ledger with bank statements to identify discrepancies and update records.

• Explain the difference between a trial balance and a balance sheet.
  Trial balance is an internal check of ledger balances; balance sheet shows financial position for stakeholders.

• Have you been involved in month-end or year-end closing processes? Describe your role.
  Include preparation of journal entries, accruals, and coordination with auditors.

• Tell us about a challenging accounting problem you solved.
  Focus on problem analysis, steps taken, and the outcome that improved accuracy or compliance.

Additional Tips

• Highlight your experience in specific accounting functions like payroll, tax filings, or audit coordination.

• Emphasize knowledge of relevant regulations and your eagerness to keep updated.

• Showcase your ability to work under deadlines and collaborate with teams.

• Prepare to discuss your role in improving financial processes or implementing new software tools.

These questions reflect the expectations for accounting professionals with 2-5 years of experience in India, allowing you to demonstrate both technical skills and practical exposure.