K12 Techno Services Accountant Interview Questions and Answers

I have a solid background in accounting with over five years of experience in financial reporting and analysis.

• Bachelor's degree in Accounting from XYZ University.

• Worked as a junior accountant at ABC Corp, managing accounts payable and receivable.

• Prepared monthly financial statements and assisted in annual audits.

• Implemented a new accounting software that improved reporting efficiency by 30%.

• Conducted financial analysi...read more

As an accountant, I ensure accurate financial reporting, compliance, and strategic financial planning to support business objectives.

• Maintain accurate financial records by regularly updating ledgers and journals, ensuring all transactions are recorded promptly.

• Prepare financial statements, such as balance sheets and income statements, to provide a clear picture of the company's financial health.

• Conduct regular audits t...read more

Accounting rules guide financial reporting and journal entries record transactions systematically.

• 1. Generally Accepted Accounting Principles (GAAP) govern financial reporting in the U.S.

• 2. International Financial Reporting Standards (IFRS) are used globally.

• 3. The double-entry system requires every transaction to affect at least two accounts.

• 4. Example: Purchasing inventory for cash involves debiting Inventory and cre...read more

The cash collection and invoicing process involves tracking payments and issuing invoices to ensure accurate financial records.

• Verify that all invoices have been generated and sent to clients.

• Check if payments have been received and recorded in the accounting system.

• Ensure that any discrepancies in payments are resolved promptly.

• Example: If an invoice was issued on January 1st, confirm payment was received by January 1...read more

Effective management of petty cash and vendor payments ensures financial accuracy and operational efficiency.

• Establish a petty cash policy outlining limits and authorized users.

• Regularly reconcile petty cash with receipts to maintain accuracy.

• Use a dedicated petty cash log to track all transactions.

• Implement a vendor payment schedule to ensure timely payments and avoid late fees.

• Utilize electronic payment systems for v...read more

I expect a competitive compensation package that reflects my skills, experience, and the industry standards.

• Base salary should align with industry benchmarks for accountants, typically ranging from $60,000 to $80,000 depending on experience.

• Inclusion of performance bonuses based on individual and company performance, which can enhance overall earnings.

• Comprehensive benefits package, including health insurance, retireme...read more