7 Interview Tips for Accounting Students

Fall is a busy time for many of us. The kids are going back to school, businesses are gearing up for year-end, and college students are getting ready to interview for their first post-grad jobs. Here are my top 7 tips for how to prepare for and conduct yourself during an interview.

Job Interview for Accountant

1. Research the company – impress the interviewer by taking the time to learn about their organization

Utilize the following resources to research the organization:

    • Newspaper and magazine articles
    • Recruitment/employment literature (often available in school library or career service office)
    • Call the company & ask them to send you some company literature prior to your interview
    • Annual reports
    • Internet (visit the company’s web site, LinkedIn, Facebook, Twitter, etc.)
    • Talk to others who work for the company

Below are recommendations on the type of information you can research about the organization:

    • When was the company founded?
    • Where are their corporate offices located?
    • What does the organization do?
    • What are its products and/or services?
    • Has the organization been growing?
    • What are some of the organization’s latest achievements or awards?

2. Know your skills and qualifications and how they relate to the position for which you are applying

    • Take time to identify your individual strengths
    • Write down your strengths and think of how these strengths can benefit the company
    • Create a list of things you have accomplished in your career to date (or accomplishments from school) that you are particularly proud of

3. Prepare a brief list of questions to ask the interviewer about the organization and position to convey your interest

Examples of questions to ask during the interview:

    • What are some goals for someone in this position?
    • What would you expect one to have accomplished in the first 3 months on the job?
    • What computer systems/programs would this person work with daily?
    • What is the company culture like?
    • What do you enjoy about working here?

4. Be prepared for questions an interviewer might ask

Behavioral-Based Questions

    • In your current position, what would be one accomplishment that you are most proud of and why? What specifically did you do to accomplish this? What obstacles did you run into?
    • In your current/last position, give me a specific example of how you dealt with a recent customer service issue/complaint? How did the customer react? Was the customer satisfied?
    • Tell me about a more challenging team project that you were involved with. What was the project? What was your role? How did the team function? If you had the chance to do it all over again, what would you do differently?

Fact Finding Questions

    • Tell me more about X?
    • What specifically did you do?

5. Practice, Practice, Practice

Role-play interview questions with a friend or conduct a mock interview with a college career service professional. It may seem awkward at first, but it will definitely help you to become more comfortable in the interview process.

6. Pay attention to your appearance

    • Dress professionally & conservatively – a suit is always best
    • It is always better to be over dressed than under dressed
    • Avoid displaying visible body piercings or tattoos
    • Keep your nails neatly trimmed and clean and avoid flashy nail polish or nail jewelry
    • If you wear a coat to the interview, hang it up (do not wear it during the interview)
    • Do not chew gum during the interview

7. Put yourself in the interviewer’s shoes

What hiring Managers are looking for in a candidate:

    • Verbal and written communication skills
    • Willingness to learn new skills (flexibility)
    • Evidence of achievement & participation
      • Community involvement – sports, clubs & organizations
      • Work experience
    • Personal qualities
      • Ability to get along with others
      • Positive approach
      • Confidence, neat, professional appearance, motivation
      • Clear & realistic goals, enthusiasm
    • Computer Literacy (MS Word, Excel, PowerPoint, Access, Email, Internet)

Factors which may lead to rejection:

    • Overbearing, overaggressive behavior
    • Too soft spoken, timid, poor grammar/slang, swearing
    • Lack of interest/enthusiasm
    • Overemphasis on salary/job hopping
    • Being unwilling to start in entry level position
    • Speaking negatively about past employers & supervisors
    • Lack of eye contact
    • Arriving late for interview (Things happen – if you are late, explain tardiness upon arrival)
    • Poor personal appearance

I hope you have found these tips helpful, and look forward to a busy fall full of successful interviews!

 

Infographic: 8 Reasons to Work for Insero

In recent years, Insero has consistently been named one of the Best Accounting Firms to Work for by Accounting Today and Best Companies Group. This annual list recognizes 100 top firms across the U.S. We have also been selected as one of Rochester’s Top Workplaces by the Democrat and Chronicle and WorkplaceDymanics and one of the Best Places to Work for Millennials by The Center for Generational Kinetics and Best Companies Group.

With locations in Rochester, Ithaca, Corning, Cortland, and Watkins Glen, we cover much of the state of New York, but rest assured that at Insero you’re not just a number, you are an individual with aspirations. We work with you to craft your career to match your interests and future plans. Don’t just take our word for it, hear what our employees have to say!

Need a few more reasons? Check out the infographic below, and visit our website at www.inserocpa.com/career to take your career to The Highest Standard.

8 Reasons to Work for Insero Infographic

Audit & Accounting Update: August 24, 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest financial reporting insights. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Revenue recognition resources updated for recent developments
We have updated our revenue recognition resources for recent developments related to the new revenue recognition guidance.

Proposed clarifying guidance for contributions received and made
To clarify the accounting guidance for contributions received and contributions made, the FASB recently issued a proposed ASU.

Audit and Accounting Updates for Business Owners and Financial Professionals

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/financial-reporting-insights.html

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.

Audit & Accounting Update: July 25, 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest financial reporting insights. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Revenue recognition: Lessons learned from an early adopter
Our brief case study provides a high-level overview of how one company reported the financial impact of adopting ASC 606.

Some PBEs may use private company effective dates for ASC 606 and 842
The SEC will allow certain public business entities to use the private company effective dates for FASB ASC 606 and ASC 842.

Audit and Accounting Updates for Business Owners and Financial Professionals

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/financial-reporting-insights.html

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.

Audit & Accounting Update: June 27, 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest financial reporting insights. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Changes to revenue recognition in the life sciences industry
Our white paper explains how a life sciences entity could be significantly affected by the FASB’s new revenue recognition guidance.

Update to long-lived asset impairment snapshot for ASU 2017-04
Our white paper has been updated to reflect the goodwill impairment model simplification introduced by ASU 2017-04.

Expected issuance of anticipated new standard on hedge accounting
The FASB recently voted to proceed with the new standard that is intended to improve and simplify hedge accounting.

Form AP tool for audit committees
The Center for Audit Quality recently issued a tool to help audit committees understand the Form AP requirements.

Audit and Accounting Updates for Business Owners and Financial Professionals

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/financial-reporting-insights.html

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.

Audit & Accounting Update: June 13, 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest financial reporting insights. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Quarterly accounting update webcast – Summer 2017
Our Quarterly accounting update webcast will cover recently issued guidance and developments in standard-setting projects.
Read more

Accounting for debt and equity instruments in financing transactions
Our guide is a resource for understanding relevant accounting guidance for debt and equity instruments issued in financing transactions.
Read more

Changes to revenue recognition for not-for-profit organizations
Our white paper discusses changes to the accounting for exchange transactions entered into by not-for-profit organizations.
Read more

PCAOB adopts auditor reporting standard
A new standard requires auditors to provide additional information in their reports on audits of financial statements.
Read more

PCAOB proposes standard for auditing accounting estimates
A PCAOB proposal would replace existing standards on auditing accounting estimates and fair value measurements with a single standard.
Read more

Proposal: Auditor’s use of the work of specialists
The PCAOB recently proposed amendments to auditing standards for the auditor’s use of the work of specialists.
Read more

Audit and Accounting Updates for Business Owners and Financial Professionals

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/financial-reporting-insights.html

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.

Audit & Accounting Update: May 24, 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest financial reporting insights. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Stock compensation: Scope of modification accounting
ASU 2017-09 requires an entity to account for the effects of a share-based payment award modification unless certain conditions are met.
Read more

Customer of operation services in a service concession arrangement
Per the FASB, the grantor is the customer of the operation services for service concession arrangements within the scope of ASC 853.
Read more

FASB tentative decisions regarding down round features
The FASB recently completed its redeliberations regarding the accounting for certain financial instruments with down round features.
Read more

Questions regarding ASU 2015-12
Employee benefit plan administrators commonly have raised three questions related to the implementation of ASU 2015-12.
Read more

 

Audit and Accounting Updates for Business Owners and Financial Professionals

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/financial-reporting-insights.html

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.

Audit & Accounting Update: May 18, 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest financial reporting insights. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

New Revenue Recognition Resource Center goes live
RSM US LLP recently launched a Revenue Recognition Resource Center with information about the new guidance in FASB ASC Topic 606.
Read more

IRS permits self-certification for safe-harbor hardship distributions
Two recent IRS memorandums provide guidance on plan participant hardship distribution substantiation requirements.
Read more

Audit & Accounting Guide for employee benefit plans updated
The American Institute of Certified Public Accountants Audit & Accounting Guide, Employee Benefit Plans, was recently updated.
Read more

Proposed reporting on financial statements of plans subject to ERISA
A recent AICPA proposal addresses the auditor reporting model for audits of employee benefit plans that are subject to ERISA.
Read more

 

Audit and Accounting Updates for Business Owners and Financial Professionals

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/financial-reporting-insights.html

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.

Receiving Customer Payments in QuickBooks

It’s one of your more pleasant tasks as a QuickBooks user: receiving payments from customers. Here’s how it works.

QuickBooks was designed to make your daily accounting tasks easier, faster, and more accurate. If you’ve been using the software for a while, you’ve probably found that to be true. Some chores, of course, aren’t so enjoyable. Like paying bills. Reconciling your bank account. Or anything else that has the potential to reduce the balance in your checking accounts.

The process of receiving customer payments is one of your more enjoyable responsibilities. You supplied a product or service that someone liked and purchased, and you’re getting the money due you.

Depending on the situation, you’ll use one of multiple methods to record customer payments. Here’s a look at some of your options.

A Familiar Screen

If you’re like many businesses, you send invoices to customers to let them know what they owe and when their payment is due. So one of the most commonly used ways to record payments is by using the Receive Payments window. To open it, click the Receive Payments icon on the home page or click Customers | Receive Payments.


You’ll use QuickBooks’ Receive Payments screen when you record a payment made in response to an invoice.

The first thing you’ll do, of course, is choose the correct customer by clicking the down arrow in the field to the right of RECEIVED FROM. The outstanding balance from that customer will appear in the upper right corner, and invoice information will be displayed in the table below. Enter the PAYMENT AMOUNT and make sure the DATE is correct. (The next field, REFERENCE #, changes to CHECK # only if the CHECK option is selected.)

Next, you’ll need to ensure that the payment is applied to the right invoices. If it covers the whole amount due, there will be a checkmark in every row in the first column of the table. If not, QuickBooks will use the money received to pay off the oldest invoices first. To change this, click Un-Apply Payment in the icon bar and click in front of the correct rows to create checkmarks.

Several Options

You’ll then want to tell QuickBooks what payment method the customer is using. Four options are displayed. The possibilities that are visible here are:

  • CASH
  • CHECK
  • CREDIT DEBIT (A specific card type may be shown here if you’ve indicated the customer’s preferred payment method in his or her record.)
  • e-CHECK

If the desired payment method isn’t included in those four, click the down arrow under MORE. If it’s still not there, click Add New Payment Method. This window will open:

The New Payment Method window

Click OK. When you choose your new payment method from the list, a window opens containing fields for the card number and expiration date. Click Done after you’ve entered it, and you’ll be returned to the Receive Payments screen. If you’re satisfied with your work there, click Save & Close or Save & New.

Haven’t gotten set up to accept credit and debit cards yet? We can get you going with a merchant account to make this possible. You’re likely to find that some customers pay faster with this option. Your customers will be able to click a link in an emailed invoice and make their payments.

Instant Sales

Depending on the type of business you have and its physical location, there may be times when customers will come in and buy something on the spot. You’ll need to give them a Sales Receipt. Click Create Sales Receipts on the home page or open the Customers menu and select Enter Sales Receipts to open this window:

The Enter Sales Receipts window

You’ll complete this form much like you entered data in the fields of the Receive Payments window. As you can see, you can print the mail for the customer and/or email it.

After all the hard work you’ve done to make your sales, the last thing you want to do is record a payment incorrectly so it isn’t processed and you don’t get paid. Though QuickBooks makes the mechanics of receiving payments simple enough, you still should understand the entire process involved in getting income into the correct accounts. We’re available to help with this and any other areas of QuickBooks.

For more QuickBooks tips, tricks and info on training from our team of Certified QuickBooks ProAdvisors® subscribe to The QBC.

QuickBooks and QuickBooks ProAdvisor are registered trademarks and/or registered service marks of Intuit Inc.

Audit & Accounting Update: April 27, 2017

At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest financial reporting insights. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

Premium amortization on purchased callable debt securities
A recent ASU requires the premium on certain callable debt securities to be amortized to the earliest call date.
Read more

Changes to revenue recognition impacting insurance entities
Our whitepaper discusses changes to revenue recognition impacting third-party administrators, agents and brokers in the insurance sector.
Read more

Auditor’s consideration of ability to continue as a going concern
A new standard provides some revised guidance on the auditor’s consideration of an entity’s ability to continue as a going concern.
Read more

Proposed revisions to Government Auditing Standards
The United States Government Accountability Office is seeking comment on its 2017 Exposure Draft of Government Auditing Standards.
Read more

SEC makes inflation adjustments to certain JOBS Act rules
The SEC recently made inflation adjustments to certain Jumpstart Our Business Startups Act rules, and other technical amendments.
Read more

Proposed improvements to IFRS 8
If finalized, recent proposed amendments would make revisions to International Financial Reporting Standard 8, Operating Segments.
Read more

 

Audit and Accounting Updates for Business Owners and Financial Professionals

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/financial-reporting-insights.html

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.

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