Accounting job interview coming up? Here are the 3 most frequently asked questions by employers. Free Download of My Balance Sheet Metrics Cheat Sheet: …
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3 most frequently asked accounting interview questions
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3 most frequently asked accounting interview questions
financial controller
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On the Negative Working Capital thing. Most companies draw cash and invest in marketing and in expansion. This is what leads working capital to go negative, but not necessarily a bad sign.
Negative working capital is bad. There is a very gross mistake in what you have stated. Current asset consists of cash, cash equivalents and AR. If you are very efficient at collecting your receivables you would have then increased your cash position. I am actually surprised this hasn’t been caught by your wife, an accountant, or even you while editing and hearing it multiple times.
Very helpful tips
Closing inventory can affect the Cost of sales . If cost of sales increases then the gross profit will reduce and so also
the net profit
I am a CMA (India)
I just got my 2 year degree in accounting technology and I'm trying to get interview experience and learn as much as I can so I can land my first entry level position and these videos let me go into interviews with confidence. Thank you very much!
Hello sir! relating the the second Interview questions. If we collect more of our accounting Receivable it will decrees the receivable and increase Cash or Bank which both of them are current assets Items. How will that cause the current liability to greater than the current assets in this situation?
Regarding question no 3, if we are using absorption costing then increase in closing inventory will reduce cost of goods sold will cause increase in profit. Isn't it like this ? Kindly assist ?
You are the Best!
Great information..
I'm really confuse with your answer in question no. 3. As I understand it, increase in inventory decreases purchases, decreasing cost of good and increasing grofit profit thereby increasing income. I thought an increase in inventory increases income.
I have seen you replying that cash deployed in investments as if invested also cash turns into current assets then how wc will become negative
Answers for 1 and 3 are incorrect.
Balance sheet is most important
And increase of closing inventory will decrease you cost of sales (and increase profit).
It will have no net impact on the balance sheet.
Bro u r simply amazing , i salute uh thanx aloot 🤲🌎😘
in 3 question- what is the impact on income when inventory goes up by $10 – you said " nothing".
i think it will impact on income because of COGS, which involve (Beg+purchase-ending) when we make entry- Merchandise inventory Dr and A/P Cr. so this Merchandise inventory include in COGS as purchase new M.I. this COGS appear on Income statement. if COGS decrease income increase and vise versa. what do you think is it right or not?
Hi Bill, I have question in term of the Working Capital. As you mentioned that when working capital is negative, it's signaling that we are collecting AR fast. The question is, when we are collecting our AR, isn't means we also debiting our Cash and that actually part of current assets? So how it can cause negative working capital in this sense? Thank you in advance for your explanations!
I can't agree with 3rd part abt Inventory cz… Any changes like Increase or Decrease in Inventory shall impact OPAT …
Correct me if I am wrong…
You rescued my ass bro 😂😅
Sir, I have a Doubt on your Answer to the Third Question. When the Inventory Cost Increased by 10 surely it will have a impact in the Gross Profit either even if I consume the material for production or leaving it in stock unless its compensated by the hike in the sales price. Its my view, Please clarify.
Sir i need accounting interview to cost and management account
i know its to late to ask this questions but i hope u answer it , what about if the inventory will increased by 10$ it will decrease the COGS and so increase net income?
Hi, I am looking for a job in accounts with 09 years of accounting experience and finding difficult in getting job in USA,and am a B'Com graduated.
Thanks for the video. I have a doubt regarding question 3. While calculating p&l a/c, cost of sales =initial inventory + purchases – closing inventory. Therefore, why does purchasing inventory has no effect on P&L. Could u please explain?
Been an accountant for 6 yrs with sporadic experience but solid qualifications & knowledge to my name. About to move countries & start brand new. Your videos are really giving
me a boost of confidence, thank you so much!
cool!
Sir I am from India and I have done CPA us in India and now I wish to work in USA so please help how get a perfect Job in us and tell how take visa 😕😕😕
Thanks alot for the video.
Thanks alot for the video.
Your channel is very important for me. I am studying accountant in México.
Can yoi please stay with the main topic rather extra words?
A suggestion.