How do you maintain accounting accuracy?
This is among the most basic accounting questions that employers ask all levels of candidates. Focus on mentioning the importance of keeping up with accuracy at all times and the tools you know how to use.
An example of answering a general accounting interview question like this one is given below.
Maintaining the accuracy of an organization’s accounting is an important activity as it can result in a huge loss. There are various tools and resources which can be used to limit the potential for errors to creep in and address them quickly if any errors do arise. My favourite is MS Excel.
Some of the most common ways of maintaining accuracy in accounting are:
* Identify revenue streams
* Keep a close eye on invoices and receipts
* Prepare tax returns to avoid penalty
* Prepare financial statements
* Keep tabs on deductible expenses
