Professional Account Executive Interview Preparation Guide

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I think all are good though but Microsoft Accounting Professional is best because it offers reliable and fast processing of accounting transactions that saves time and increases proficiency.

Public accounting offers audits and CPAs to review company financial records to ensure accountability. It is for general public.

CPA stands for Certified Public Accountant. To become a CPA, one should have to do many other qualifications as well. It is a qualification with 150 hour requirement; it means that one should complete 150 credit hours at any accredited university.

Yes, I am familiar with CGram Software, Financial Force, Microsoft Accounting Professional, Microsoft Dynamics AX and Microsoft Small Business Financials.

It is a type of accounting in which separate account is created for departments. It is managed separately as well as shown independently in the balance sheet.

Public accounting is a type of accounting that is done by one company for another company. Private accounting is done for your own company.

In the first one i.e. the perpetual inventory system, the accounts are adjusted on continual basis. In the periodic inventory system, the accounts are adjusted periodically.

You should definitely check the job description and have a look at the requirements prior to your interview. If you do so, you should be able to deliver a good answer. Try to mention the duties outlined in the job description, and show that you studied it carefully and believe that you can handle all duties.

Yes, I do believe that accounting standards play a very important role to prepare good quality and accurate financial reports. It ensures reliability and relevance in financial reports.

Yes, as per my knowledge there are total 33 accounting standards published so far by ICAI. The purpose of these standards is to implement same policies and practices in any country.

This is not an easy question, especially if you are a fresher and are applying for your first job.
To be honest, university education is not that important for an account executive, doesn’t matter what University you studied at.

But if you took some courses in sales, or in communication, and have good skills with MS Office, you can mention them. In fact, you can mention some specific subjects from your University/college studies, subjects that are somehow related to the job of an account executive.

We know that accounting is all about assets, liabilities and capital. Therefore, the accounting equation is:

Assets = Liabilities + Owners Equity.

Working independently and making timely decisions is very important when working in this role. While some part of an account executive’s work is dependent on others, it is important to carry out most duties on your own. Self motivation and outstanding client services skills are equally important.

Project implementation involves six steps in total such as:

☛ Identify Need
☛ Generate and Screen Ideas
☛ Conduct Feasible Study
☛ Develop the Project
☛ Implement the Project
☛ Control the Project

The company I was working for had many clients who provided recurring business. However, one such client was becoming quite difficult to handle since he had very unreasonable demands which were against company policies. Since I was handling his account (and generating a good commission from it), I was asked to make a decision – whether to retain the client or let him go. I knew the right thing to do was to let him go since retaining him would pull the company down eventually. I decided to let him go despite having to lose a sizeable amount of income.

There are two main tasks for an account executive

☛ Keep best possible relations with existing accounts and develop them further.
☛ Find new accounts and develop them.
However, the tasks can vary from company to company, that’s why you should use job description as an inspiration for your answer.

This is an alignment question and tests whether the candidate’s proudest accomplishment is tied to the first question around role, responsibilities, and success.

It is a kind of hidden tax that is included in the service provided by the service provider and paid by the service receiver.

Well, I was quite good in accounting throughout but in my masters, when I got distinction I decided to adopt this field as a profession.

There are three branches of accounting named as “Financial Accounting”, “Management Accounting” and “Cost Accounting”.

It is a type of accounting that is specifically designed for the business that offers services to users.

These are the assets that cannot be shown or touch. Fictitious assets can only be felt such as good will, rights etc.

It is the software used for accounting in small business and shops for managing routine accounting transactions.

There are two types of transactions in accounting i.e. revenue and capital.

Yes, I have worked as an accountant at two different places.