Chartered Accountant Interview Questions and Answers
Chartered Accountants prepare financial reports of organization. Depending on the size of the organization, the responsibilities of Chartered accountants vary. Chartered accountants provide advice on complying with tax legislation. The accountant’s review and report financial activities of the organization. Such a job requires great skill and there has to be some kind of preparation before appearing for this interview. Below you will find some most frequently asked questions in Chartered Accountant interview along with the answers.
1 Q: Do you have knowledge about government laws and state regulations?
A: Mention your experience in this area with regard to taxes and record keeping as per government laws. A chartered accountant will have knowledge about government laws and state regulations. As a Chartered Accountant works in accordance with the requirements of government laws and regulations, thorough knowledge is expected from him.
2 Q: How will you describe your analytical and logical thinking?
A: You have to give examples where you have used your analytical and logical thinking. Generally, during analysis of business operations and financial advices and while resolving specific problems, analytical and logical thinking is required by accountants.
3 Q:. How good are you at Computers?
A: Nowadays, Chartered Accountants have increased use of computers in their work. So it is important to have knowledge of computers. MS Office is mostly used for preparing reports, internet is used for research purposes and Tally is used for documentation and record keeping purposes. You can also mention the training you undertook for gaining knowledge.
4 Q: Can you compile and interpret accounting data and reports?
A: You can give examples of any previous work you have done before in your past job. Compiling and interpreting accounting data and reports are one of the major responsibilities of a Chartered Accountant. Answer in brief about your previous works.
5 Q:. Define Assessment Year and Previous Year.
A: Assessment year is the period of twelve months which starts from 1st April and ends on 31st march. Previous year is the financial year immediately preceding assessment year.
6 Q:. Name the five heads of income to calculate Total Income of the Assessee?
A: The five heads of income to calculate Total income of the assessee are Income from salaries, Income from House property, Profits from Business and Profession, Income from Capital Gains and income from other sources.
7 Q:. Do you like working in a team or independently?
A: A Chartered Accountant generally works in a team in large organizations. It is important to have the ability to work in a team. You should answer that you are comfortable in both ways. It is necessary to be flexible in jobs.
8 Q:. Accounting job has lots of work pressure, so how will you handle late working hours and stress?
A: Keep the answer to this question simple and short. Provide examples from your previous job how you handled work load effectively and ways that you used to overcome stress. Explain how stress is beneficial for efficiency in work.
9 Q:. What experience you have in this Chartered accountant position?
A: Tell your employer about your responsibilities in your previous job. You can tell about those activities which relate to the job you are interviewing for. You can also mention your achievements in your last job.
10 Q: In the last year, what have you done to improve your knowledge as a Chartered Accountant?
A: You need to include the actions you took for your self improvement. Interviewers want to find out whether you are open to gaining more knowledge as well as keen on improving yourself. You can list your non work related activities also which helps in improving your motivation, time management etc.
11 Q:. What is most rewarding about this job?
A: Say in a few words what you really like most rewarding about this job. Don’t mention about money. You can always say that once you complete your work efficiently that is what you feel most rewarding about this job.
12 Q: What do people generally have an idea of what you do?
A: Accountants are generally thought of as persons who earn money because of their calculations. Many people believe that Chartered Accountants job involves adding, subtracting, multiplication etc. But in today’s world where computers are used for all works, such type of thinking seems unusual.
13 Q: How do you find Chartered accounting as a career?
A: Chartered Accounting is a great career option. Chartered accountants know the inner details of an organization. Their work is very important for every organization as financial requirements are growing complicated nowadays. There are lots of opportunities in this field.