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Financial Accounting Online Test
Clock
Test duration:
25
min
Notes
No. of questions:
25
Tie
Level of experience:
Entry/Mid/Expert

Financial Accounting Online Test

iMocha’s financial accounting assessment test enables recruiters and hiring managers to hire job-fit candidates effectively and make unbiased hiring decisions. This test is useful for hiring Financial Accountants, Assistant Financial Accountants, and Financial Reporting Accountants. Our test has helped our customers to reduce cost to hire by 40%.

21846
+
Candidates
Assessed
127
+
Organizations Served
Fujitsu
Paypal
Capgemini
Deloitte
Coupa
UN Logo
Vanguard
EY Logo
About

Financial Accounting Online Test

Financial accounting involves the preparation of financial statements and reporting of financial transactions pertaining to any business. Financial accounting uses standardized guidelines to make financial reports, transactions, income statements, balance sheets, etc, used to keep records. Financial accounting online test helps recruiters and hiring managers with a reliable way to evaluate the financial accounting abilities of potential employees.

Two important use cases for Financial Accounting test

#1 Identifying job-fit candidates based on job roles

You can create customized skill assessments for any given job role. Using this feature, you can choose questions from different skill types, including functional, technical, and soft skills. For example, with our customized Financial Accounting assessment test, you can evaluate candidates’ knowledge of Product Costing, Profit Center Accounting, Fixed Assets, General Ledger, and Problem-solving Skills and assess the best individuals for the job.

#2 Skill-gap analysis of your employees

iMocha allows you to measure employees' skill competency through the Accounting and Finance tests. It determines the existing skill level and identifies the areas for growth. It also measures the knowledge and impact of training and traces individual employees’ progress. For example, you can use our Finance and accounting competency test to identify a consultant’s knowledge about Financial Accounting, Cost Element Accounting, and other skills and perform a skill gap analysis.

Use iMocha's assessment to hire skill fit, remove bias, and save money!
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How it works

Test Summary

The Financial accounting assessment test helps to screen candidates who possess skills as follows:

• Good knowledge of accounting fundamentals.

• Experience in accounts receivable and accounts payable

• Understanding financial areas like balance sheets, cash flows, accounting principles, etc.

• Hands-on experience in carrying out certain tasks like journal entries, ledger entries, valuation ratio analysis, etc.

• Familiarity with data interpretation skills and excel skills.

Assessing candidates with a Financial Accounting online test is secure and reliable. You can use our role-based access control feature to restrict system access based on the roles of individual users within the recruiting team—features like window violation and image and video proctoring aid in detecting cheating during the test.

Test Creation Process

We provide different types of Accounting and Finance tests to help you evaluate candidates' specific skills. These questions are created by Subject Matter Experts (SMEs) based on their knowledge and expertise. For example, only accounting specialists will create questions about the Controlling - Cost Center Accounting or Controlling - Master Data Indexes based on the difficulty level of easy, medium, and hard.

You can - choose which questions to include in the financial accounting online test or ask us to create customized assessments according to your requirements.

Test Analytics Report

Hiring managers can access comprehensive reports for each candidate that will help to overview the candidate’s performance in each section within a glance. Moreover, the Test Insights section helps to identify job-fit candidates more accurately with score distribution and section analysis features.

Test Question Format

Financial accounting test may contain MCQs (Multiple Choice Questions), MAQs (Multiple Answer Questions), Fill in the Blanks, Whiteboard Questions, Audio/Video Questions, AI-LogicBox (AI-based essay evaluation), Job-based Simulations, True or False Questions, etc.

Test Design Guidelines

Finance and Accounting competency test is designed considering EEOC (Equal Employment Opportunity Commission) guidelines, it will help you assess and hire diverse talent without any bias.

Test Duration
25
No. of Questions
25
Level of Expertise
Entry/Mid/Expert
Useful for hiring
  • Financial Accountant
  • Assistant Financial Accountant
  • Financial Reporting Accountant
Topics Covered
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Accounting Principles

iMocha’s financial accounting online test helps recruiters and hiring managers to evaluate candidate’s understanding of generally accepted accounting principles.

Valuation Ratio Analysis

This test evaluates candidates' knowledge of valuation ratios that show the relationship between a company's market value and fundamental financial metrics.
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Trial Balance

Our assessment tests candidates' abilities to prepare a trial balance report, which is a list of all general ledger accounts and their balances.
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Provisions Depreciation

This test gauges the candidate’s knowledge about the provision of depreciation term, which is a declined value of an asset or entity over a period of time.
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Profit & Loss Statement

Our test assesses candidate's ability to keep a financial record of a company's profit and loss, which includes sales, expenditures, and expenses.
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Ledgers Entries

Our test measures candidates' understanding of the double-entry bookkeeping approach, which arranges the debits and credits for an account.
Sample Question
Choose from our 100,000+ questions library or add your own questions to make powerful custom tests.

Question types :

Multiple Option

Topic:

Difficulty:

Hard


Q 1. You have been asked to train « Naive Bayes model for spam detection dataset

Using Python command, what wil you add in the given code at XXXX to deciore, it and train your modal for the given dataset?

import numpy os np

X= nporroyll 3. 2b[1 21 [2.21.[3,21)
Y= nporray(fi.a,a.1))

XXXX

from skinamnaive_bayas import

Gaussianna

otf = Gaussianne()

ceataie(x ¥)

from skinamnaive_bayas import

Gaussianna

otf = Gaussianne()

ceataie(x ¥)

from skinamnaive_bayas import

Gaussianna

otf = Gaussianne()

ceataie(x ¥)

from skinamnaive_bayas import

Gaussianna

otf = Gaussianne()

ceataie(x ¥)

Question types :

Multiple Option

Topic:

Machine teaming

Difficulty:

Hard


Q 1. Q2 Lets assume that you have 6 Pandas DataFrome(af) in the below tole.

Index Code Open High
0 AAPL 19877 70074
1 AAPL 19877 70074
2 AAPL 19877 70074
3 AAPL 19877 70074
4 AAPL 19877 70074

When the following commend is executed, what hoppens to the DatoFrome?

df= defiinat()
Y= nporray(fi.a,a.1))

Index Code Open High
0 AAPL 19877 70074
1 AAPL 19877 70074
2 AAPL 19877 70074
3 AAPL 19877 70074
4 AAPL 19877 70074
Index Code Open High
0 AAPL 19877 70074
1 AAPL 19877 70074
2 AAPL 19877 70074
3 AAPL 19877 70074
4 AAPL 19877 70074
it gives an error becouse of the third row which has on empty string.
None of these

Question types :

Multiple Option

Topic:

Principles of Accounting

Difficulty:

Hard

Question:

A business has prepared its accounts for a financial year, which shows a profit of $500,000. The accounts do not include the following items:

• A likely loss on a contract of $25,000.
• A possible court ruling in favor of the company, which is likely to increase profits by $10,000.
• A possible court ruling against the company, which could result in damages of between $5,000 to $15,000.

With regard to the fundamental accounting concepts, which of the following revised profit figures is correct when the aforementioned factors are taken into account?


Options:

  • $480,000
  • $460,000
  • $510,000
  • $475,000
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You can customize this test by
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Requesting a tailor-made test

Receive a tailored assessment created by our subject matter experts to ensure adequate screening.

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ADP
Now my team of 25 recruiters has adopted this measure and it has done wonders for our clients. Thanks to the Customer Success Team of iMocha. They have shared the best practices of quick test creation and also helped us in training all our recruiters for various functionalities of the tool.
Client

Vipin Sharma,

Mobile Programming
FAQ
What is Data Science?
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Why use iMocha’s online data science test?
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What are the key skills that recruiter should look for while hiring a Data Scientist?
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What are few interview questions that recruiter/hiring manager should ask while hiring a data scientist?
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How do you assess the data scientists?
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How is Financial Accounting online test customized?
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Our subject matter experts (SMEs) can customize the financial accounting skills test to the required primary and secondary skills, such as financial forecasting, managing payroll, understanding the tax code, Mathematics and many more. Similarly, questions can be customized to applicants' difficulty level and experience.

What are the certifications required for this role?
Down Arrow Circle

Some popular Financial Accountant certifications are:

• Chartered Financial Analyst (CFA) certification.

• Certified Public Accountant (CPA) certification.

• Financial Modelling & Valuation Analyst (FMVA) certification.

• Chartered Alternative Investment Analyst (CAIA) designation.

• Certified Financial Planner (CFP) designation.

• Certified Fraud Examiner (CFE)

• Certified Internal Auditor (CIA)

• Certified Management Accountant (CMA)

• Chartered Global Management Accountant (CGMA)

• Enrolled Agent (EA)

• Financial Services Audit Certificate (FSAC)

What are the most common interview questions for the Financial Accountant role?
Down Arrow Circle

Some of the common questions asked for the Financial Accountants role are:

• What’s the difference between deferred revenue and accounts receivable?

• How do you record PP&E and why is this important?

• Define EBITDA and how it relates to accounting.

• What Happens to the Inventory if the income Statement Goes up by $10?

• Explain TDS? Where is TDS shown in the balance sheet?

• What are the deferred tax asset and the value created?

• Name the branches of accounting?

What are roles and responsibilities of Financial Accountant?
Down Arrow Circle

Financial Accountants are required to perform the following tasks and responsibilities:

• Cost and revenue projections

• Control tax payments

• Plan internal audits

• Make budgets (for the entire company and by department)

• Monitor and report on accounting discrepancies

• Creating weekly financial flow statements and keeping track of expenditure and cash flow

• Assisting with the preparation of year-end accounts and statutory accounts

• Gathering and evaluating data to respond to financial questions

• Complies with state and federal tax filing obligations by researching rules, adhering to them, and advising management on necessary measures

• Improving systems and procedures, as well as initiating remedial actions

• Ensuring compliance with current tax and regulatory systems

What are the required skillsets of Financial Accountant?
Down Arrow Circle

You can consider these technical and soft skills while hiring Financial Accountants:

Technical Skills

• Understanding GAAP vs. IFRS Standards

• Financial Forecasting

• Financial Reports

• Forecasting Budgets

• Ledger Posting

• Trial Balance Preparation

• Cash Flow Inventory

• Journal Entries

Soft Skills

• Written and Verbal Communication

• Time Management skills

• Accounting Organizational skills

• Project management

• Developing a Data-Driven Mindset

What is the package of Financial Accountant?
Down Arrow Circle

In the United States, the average Financial Accountants’ salary is $97,500 per year. Starting salaries for entry-level employment start at $60,022 per year.