Account Management Interview Preparation Guide
Prepare comprehensively for your Management Accountant interview with our extensive list of 115 questions. These questions are specifically selected to challenge and enhance your knowledge in Management Accountant. Perfect for all proficiency levels, they are key to your interview success. Get the free PDF download to access all 115 questions and excel in your Management Accountant interview. This comprehensive guide is essential for effective study and confidence building.115 Management Accountant Questions and Answers:
1 :: Tell me what is the abbreviation for the accounting terms debit and credit?
Debit abbreviation is “dr” and credit abbreviation is “cr”.
2 :: Tell me what is tally accounting?
It is the software used for accounting in small business and shops for managing routine accounting transactions.
3 :: Do you know what is a CPA?
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.
4 :: Tell me what is project implementation?
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
☛ Identify Need
☛ Generate and Screen Ideas
☛ Conduct Feasible Study
☛ Develop the Project
☛ Implement the Project
☛ Control the Project
5 :: Explain me bills receivable?
All types of exchange bills, bonds and other securities owned by a merchant that is payable to him are said as bills receivable.
6 :: Please explain the difference between provision and reserve?
Provisions are the liabilities or the anticipated items such as depreciation. You can say provisions are expenses. Reserves are the profits of any company and a part of that profit is placed back to the business to keep it sustainable in tough times of a company.
7 :: Explain me fair value accounting?
As per fair value accounting, a company has to show the value of all of its assets in terms of price on balance sheet on which that asset can be sold.
8 :: Tell me the Stages of Double Entry System?
☛ Recording of transactions in the journal
☛ Posting of journal entry in to the respective ledger accounts and then preparing a trial balance
☛ Preparing final accounts and closing of books of accounts
☛ Posting of journal entry in to the respective ledger accounts and then preparing a trial balance
☛ Preparing final accounts and closing of books of accounts
9 :: Explain under what type of account does the unearned revenues fall?
The unearned revenues falls under “Liability” account.
10 :: Tell me what a deferred asset is and give an example?
A deferred asset refers to a deferred debit or a deferred charge. An example of a deferred charge is bond issue costs. These costs involves all of the fees or charges that an organization incurs in order to register and issue bonds. This fees are paid in a near time when the bonds are issued but it will not be expensed at that time.