Accounting assessment

Assessment

What is it?

The accounting assessment evaluates a candidate’s knowledge of accounting principles, covering financial statements, bookkeeping, tax regulations, and auditing. Through 20 timed, progressively challenging questions, it gauges both foundational and advanced skills, serving as an early knockout criterion for roles in bookkeeping, auditing, or financial reporting.

How it works

The Accounting Assessment begins with simpler questions focused on basic accounting concepts and then progresses to more advanced topics. The goal is to assess the candidate's ability to handle both day-to-day accounting tasks and complex financial situations. In a 20-question format, this might look like:

  • Basic Level questions may ask candidates to define key accounting terms like debits and credits or to record a basic transaction in a general ledger.
  • Intermediate Level questions could focus on interpreting financial statements, calculating depreciation using different methods, or preparing an income statement.
  • Advanced Level questions might challenge candidates to reconcile accounts, analyze financial data for tax purposes, or perform audit procedures.

The test is timed, requiring candidates to complete the assessment efficiently, mirroring real-world accounting roles where accuracy and time management are crucial for success.

When to use it

The Accounting Assessment is best used early in the recruitment process to screen candidates for roles such as bookkeepers, auditors, or financial accountants. By using this test as a knockout criterion, employers can ensure that only candidates with the required accounting expertise move forward. This assessment is particularly effective for evaluating candidates in industries like finance, real estate, and corporate accounting, where attention to detail and precision are essential.

Example

In an Accounting Assessment, the questions could look like this:

  • Basic Level:
    • What is the difference between debits and credits?
    • How do you record a cash transaction in the general ledger?
  • Intermediate Level:
    • Calculate depreciation using the straight-line method for a fixed asset.
    • Prepare an income statement for a small business.
  • Advanced Level:
    • Perform an account reconciliation for discrepancies in a company’s financial records.
    • Explain how to handle tax liabilities in financial reporting.

Results and Benefits

The results of the Accounting Assessment provide employers with a clear understanding of the candidate's proficiency in core accounting tasks. Candidates who perform well demonstrate the ability to handle everything from basic bookkeeping to advanced financial analysis and audits. This ensures that only candidates with the necessary skills move forward, saving time and improving the quality of hires.