Uhasibu Interview Question and Answers 2026
Uhasibu Interview Question and Answers 2026 ACCOUNTANT INTERVIEW QUESTIONS AND ANSWERS (50)
🔹 SECTION A: BASIC ACCOUNTING
1. What is accounting?
Answer:
Accounting is the process of recording, classifying, summarizing, and reporting financial transactions.
2. What are the main objectives of accounting?
Answer:
To provide financial information for decision-making and track business performance.
3. What is bookkeeping?
Answer:
Recording daily financial transactions.
4. What are types of accounts?
Answer:
Assets, liabilities, and capital.
5. What is an asset?
Answer:
Anything owned by a business with value.
6. What is a liability?
Answer:
A business obligation or debt.
7. What is capital?
Answer:
Owner’s investment in a business.
8. What is revenue?
Answer:
Income earned from business activities.
9. What is an expense?
Answer:
Costs incurred to run a business.
10. What is profit?
Answer:
Revenue minus expenses.
🔹 SECTION B: ACCOUNTING PRINCIPLES
11. What is the accounting equation?
Answer:
Assets = Liabilities + Capital
12. What is double entry system?
Answer:
Every transaction affects two accounts (debit and credit).
13. What is debit and credit?
Answer:
Debit increases assets/expenses; credit increases liabilities/capital.
14. What is GAAP?
Answer:
Generally Accepted Accounting Principles.
15. What is IFRS?
Answer:
International Financial Reporting Standards.
16. What is accrual accounting?
Answer:
Recording transactions when they occur, not when cash is received.
17. What is cash accounting?
Answer:
Recording transactions when cash is exchanged.
18. What is consistency principle?
Answer:
Using the same accounting methods over time.
19. What is prudence principle?
Answer:
Avoid overstating profits or assets.
20. What is materiality?
Answer:
Only significant information should be reported.
🔹 SECTION C: FINANCIAL STATEMENTS
21. What are financial statements?
Answer:
Reports showing financial performance and position.
22. Types of financial statements?
Answer:
-
Income Statement
-
Balance Sheet
-
Cash Flow Statement
23. What is a balance sheet?
Answer:
Shows assets, liabilities, and capital.
24. What is income statement?
Answer:
Shows profit or loss.
25. What is cash flow statement?
Answer:
Shows cash inflows and outflows.
26. What is working capital?
Answer:
Current assets minus current liabilities.
27. What is depreciation?
Answer:
Reduction in value of assets over time.
28. Methods of depreciation?
Answer:
Straight-line and reducing balance.
29. What is inventory?
Answer:
Goods held for sale.
30. What is cost of goods sold (COGS)?
Answer:
Cost of producing goods sold.
🔹 SECTION D: PRACTICAL QUESTIONS
31. How do you detect errors?
Answer:
By reconciliation and reviewing records.
32. What is bank reconciliation?
Answer:
Matching bank statement with company records.
33. What is budgeting?
Answer:
Planning future income and expenses.
34. What is auditing?
Answer:
Checking financial records for accuracy.
35. What is internal control?
Answer:
Systems to prevent errors and fraud.
36. What is taxation?
Answer:
Government charges on income or goods.
37. What is VAT?
Answer:
Value Added Tax on goods and services.
38. What is PAYE?
Answer:
Pay As You Earn tax on salaries.
39. What accounting software do you know?
Answer:
QuickBooks, Tally, Excel, Sage.
40. How do you handle pressure?
Answer:
By prioritizing tasks and staying organized.
🔹 SECTION E: SKILLS & ETHICS
41. What is integrity?
Answer:
Honesty in financial reporting.
42. What is confidentiality?
Answer:
Keeping financial data private.
43. What is accuracy?
Answer:
Ensuring correct financial records.
44. What is time management?
Answer:
Meeting deadlines efficiently.
45. What is teamwork?
Answer:
Working well with others.
46. What is attention to detail?
Answer:
Carefully checking information.
47. What is problem-solving?
Answer:
Finding solutions to financial issues.
48. What is professionalism?
Answer:
Maintaining proper conduct at work.
49. Where do you see yourself in 5 years?
Answer:
Growing into a senior accounting role.
50. Why should we hire you?
Answer:
Because I have strong accounting knowledge, skills, and dedication.