Basic accounting knowledge for entry-level roles
1. When a company is using double-entry accounting, what elements of a given ledger must be equal?
This gets you started with a straightforward question. Candidates with accounting training should have no trouble answering. How they reply shows whether they're ready for an entry-level role.
2. What are two or three types of special journals?
In addition to this accounting interview question, you could also present journal samples for applicants to read and explain as a skills test. How they respond reveals their ability to identify mistakes or omissions.
3. If a company has three bank accounts for processing payments, what is the minimum number of ledgers it needs?
This question explores a candidate’s knowledge of ledgers and opens a discussion about generally accepted accounting principles (GAAP). A good response shows the applicant has thought through how accounts relate to lines of business.
4. What methods have you used for estimating bad debt?
Accounting interview questions like this one can help highlight how the applicant has approached a routine process at previous employers. This line of inquiry allows recent grads to apply theoretical knowledge in venturing educated guesses, which could open a dialogue about how your company handles this issue.
5. How do you differentiate between auditing and accounting?
For recent graduates, you're checking how well they grasped fundamentals in their coursework. Look for clear explanations of key roles and processes.