Why You Should Use This Accounting Assessment Test

Accounting online assessment test is designed and validated by industry experts to help recruiters and hiring managers to assess the Accounting skills of the candidate. Top companies are using our Accounting online skills test to reduce candidate screening time by 85%. The Accounting test screens candidates for the following skills: Core accounting terminology and fundamentals Deep knowledge of accounting concepts like Accounts receivable, Accounts Payable, Balance Sheets and Income Statements Ability to maximize profits by understanding the Accounting Cycle Creating forecasting models from the financial statements Analyzing financial statements using profitability ratios and debt inventory formulas Experience designing investment strategies by analyzing financial statements Accounting for acquisitions and investments Experience with accounting tools like Excel Problem-solving and analytical skills The insights generated from this assessment can be used by recruiters and hiring managers to identify the best candidates for the role. Anti-cheating features enable you to be comfortable with conducting assessments online. The Accounting online assessment test is ideal for helping recruiters identify which candidates have the necessary accounting skills to do well on the job.

Accounting Assessment Test

About the test:

The accounting assessment test uses scenario based questions to evaluate a candidate's understanding of core accounting principles, financial ratios, accounts receivable and payable, adjusting entries, balance sheet reconciliation and financial statement analysis. Accounting test can be used as a pre-employment test to assess on-the-job accounting skills of candidates before an interview.

Covered skills:

Basic accounting concepts (Income; Cashflow; Balance sheets)
Managing account receivables and payables
Problem-solving and general aptitude

Interpreting and creating financial statements
Bookkeeping fundamentals
Expertise with Excel

See all covered skills

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9 reasons why

Adaface Accounting Assessment Test is the most accurate way to shortlist Accountants

Reason #1

Tests for on-the-job skills

Accounting online assessment test is designed and validated by industry experts to help recruiters and hiring managers to assess the Accounting skills of the candidate. Top companies are using our Accounting online skills test to reduce candidate screening time by 85%.

The Accounting test screens candidates for the following skills:

Core accounting terminology and fundamentals
Deep knowledge of accounting concepts like Accounts receivable, Accounts Payable, Balance Sheets and Income Statements
Ability to maximize profits by understanding the Accounting Cycle
Creating forecasting models from the financial statements
Analyzing financial statements using profitability ratios and debt inventory formulas
Experience designing investment strategies by analyzing financial statements
Accounting for acquisitions and investments
Experience with accounting tools like Excel
Problem-solving and analytical skills

The insights generated from this assessment can be used by recruiters and hiring managers to identify the best candidates for the role. Anti-cheating features enable you to be comfortable with conducting assessments online. The Accounting online assessment test is ideal for helping recruiters identify which candidates have the necessary accounting skills to do well on the job.

Reason #2

No trick questions

Traditional assessment tools use trick questions and puzzles for the screening, which creates a lot of frustration among candidates about having to go through irrelevant screening assessments.

The main reason we started Adaface is that traditional pre-employment assessment platforms are not a fair way for companies to evaluate candidates. At Adaface, our mission is to help companies find great candidates by assessing on-the-job skills required for a role.

Why we started Adaface ->

Reason #3

Non-googleable questions

We have a very high focus on the quality of questions that test for on-the-job skills. Every question is non-googleable and we have a very high bar for the level of subject matter experts we onboard to create these questions. We have crawlers to check if any of the questions are leaked online. If/ when a question gets leaked, we get an alert. We change the question for you & let you know.

These are just a small sample from our library of 10,000+ questions. The actual questions on this Accounting Assessment Test will be non-googleable.

🧐 Question
Medium Comprehensive income	Solve
ProCoder Inc. reported the following information on Dec 31st. If we ignore income tax, what should ProCoder report as comprehensive income as of Dec 31?
Medium Land Sale Balance Sheet	Solve
Here’s the balance sheet for SinkedIn Ltd as of December 31, 2022: SinkedIn Ltd acquires a smaller company for $100,000 cash. The acquisition adds $60,000 in goodwill and increases the long-term investments by $40,000. Here’s the new balance sheet created after these changes: Which of the following rows are erroneous rows in the balance sheet after the acquisition?
Medium Sell off long-term investment Balance Sheet	Solve
Review the following balance Sheet for Company Sinclair as of December 31, 2023 (in thousands of dollars) Suppose that Company Sinclair has a tax rate of 30%. What will be the company's new equity balance if the company sells all its long-term investments at their book value, pays off all its short-term debt, and distributes the remaining cash as a dividend to shareholders?
Medium MATCH INDEX LOOKUP	Solve
Some friends live in adjacent apartments in a building in Central Perk, New York. We want to write a function to search the apartment number by name. Which of the following functions should we use?
Medium Organization data Data transformation	Solve
We have two Excel files with organization data. One file has Organization ID and Organization Name fields, whereas the second file has Organization ID, Organization Name and Country fields. We wrote a query to retrieve the data from both files. Here’s a sample of the data retrieved: We want to ensure Organization ID field is unique. Which of the following is the ideal solution that ensures Organization ID field is unique while retaining Country data? A: Select the Organization ID and Country columns, and then click Keep Duplicates. B: Select the Organization ID and Country columns, and then click Remove Duplicates. C: Use Group BY function to group the rows by Organization ID. Specify output columns for Organization Name and Country using MAX operation. D: Select Organization ID column and then click Remove Duplicates. Then specify output columns for Country using MAX operation.
Medium Student scores Data formatting	Solve
Here’s a sample Excel data source: Here’s the expected data format: Which of the following is the correct way to transform the data from the query editor to achieve the result? A: Columns to Select: Student Only B: Columns to Select: Student and Student ID C: Columns to Select: Primary and Secondary D: Command to Use: Pivot Column E: Command to Use: Reverse Rows F: Command to Use: Unpivot Columns
Medium VLOOKUP blood donor	Solve
We are looking to find the contact number of the only blood donor with blood group O-. Which function should we use to look up the correct contact number? Here's the documentation for VLOOKUP: =VLOOKUP(lookup value, range containing the lookup value, the column number in the range containing the return value, Approximate match (TRUE) or Exact match (FALSE)). A: =VLOOKUP("O-", A1:E10, 3, TRUE) B: =VLOOKUP("O-", A1:E10, 3, FALSE) C: =VLOOKUP("O-", D1:D10, 4) D: =VLOOKUP("O-", D1:D10, 3) E: =VLOOKUP("O-", A1:E10, 4, TRUE) F: =VLOOKUP("O-", A1:E10, 4, FALSE) G: =VLOOKUP("Kane", A1:E10, 4)

	🧐 Question	🔧 Skill
	Medium Comprehensive income	2 mins Accounting	Solve
ProCoder Inc. reported the following information on Dec 31st. If we ignore income tax, what should ProCoder report as comprehensive income as of Dec 31?
	Medium Land Sale Balance Sheet	3 mins Accounting	Solve
Here’s the balance sheet for SinkedIn Ltd as of December 31, 2022: SinkedIn Ltd acquires a smaller company for $100,000 cash. The acquisition adds $60,000 in goodwill and increases the long-term investments by $40,000. Here’s the new balance sheet created after these changes: Which of the following rows are erroneous rows in the balance sheet after the acquisition?
	Medium Sell off long-term investment Balance Sheet	3 mins Accounting	Solve
Review the following balance Sheet for Company Sinclair as of December 31, 2023 (in thousands of dollars) Suppose that Company Sinclair has a tax rate of 30%. What will be the company's new equity balance if the company sells all its long-term investments at their book value, pays off all its short-term debt, and distributes the remaining cash as a dividend to shareholders?
	Medium MATCH INDEX LOOKUP	2 mins Excel	Solve
Some friends live in adjacent apartments in a building in Central Perk, New York. We want to write a function to search the apartment number by name. Which of the following functions should we use?
	Medium Organization data Data transformation	3 mins Excel	Solve
We have two Excel files with organization data. One file has Organization ID and Organization Name fields, whereas the second file has Organization ID, Organization Name and Country fields. We wrote a query to retrieve the data from both files. Here’s a sample of the data retrieved: We want to ensure Organization ID field is unique. Which of the following is the ideal solution that ensures Organization ID field is unique while retaining Country data? A: Select the Organization ID and Country columns, and then click Keep Duplicates. B: Select the Organization ID and Country columns, and then click Remove Duplicates. C: Use Group BY function to group the rows by Organization ID. Specify output columns for Organization Name and Country using MAX operation. D: Select Organization ID column and then click Remove Duplicates. Then specify output columns for Country using MAX operation.
	Medium Student scores Data formatting	2 mins Excel	Solve
Here’s a sample Excel data source: Here’s the expected data format: Which of the following is the correct way to transform the data from the query editor to achieve the result? A: Columns to Select: Student Only B: Columns to Select: Student and Student ID C: Columns to Select: Primary and Secondary D: Command to Use: Pivot Column E: Command to Use: Reverse Rows F: Command to Use: Unpivot Columns
	Medium VLOOKUP blood donor	2 mins Excel	Solve
We are looking to find the contact number of the only blood donor with blood group O-. Which function should we use to look up the correct contact number? Here's the documentation for VLOOKUP: =VLOOKUP(lookup value, range containing the lookup value, the column number in the range containing the return value, Approximate match (TRUE) or Exact match (FALSE)). A: =VLOOKUP("O-", A1:E10, 3, TRUE) B: =VLOOKUP("O-", A1:E10, 3, FALSE) C: =VLOOKUP("O-", D1:D10, 4) D: =VLOOKUP("O-", D1:D10, 3) E: =VLOOKUP("O-", A1:E10, 4, TRUE) F: =VLOOKUP("O-", A1:E10, 4, FALSE) G: =VLOOKUP("Kane", A1:E10, 4)

	🧐 Question	🔧 Skill	💪 Difficulty	⌛ Time
	Comprehensive income	Accounting	Medium	2 mins	Solve
ProCoder Inc. reported the following information on Dec 31st. If we ignore income tax, what should ProCoder report as comprehensive income as of Dec 31?
	Land Sale Balance Sheet	Accounting	Medium	3 mins	Solve
Here’s the balance sheet for SinkedIn Ltd as of December 31, 2022: SinkedIn Ltd acquires a smaller company for $100,000 cash. The acquisition adds $60,000 in goodwill and increases the long-term investments by $40,000. Here’s the new balance sheet created after these changes: Which of the following rows are erroneous rows in the balance sheet after the acquisition?
	Sell off long-term investment Balance Sheet	Accounting	Medium	3 mins	Solve
Review the following balance Sheet for Company Sinclair as of December 31, 2023 (in thousands of dollars) Suppose that Company Sinclair has a tax rate of 30%. What will be the company's new equity balance if the company sells all its long-term investments at their book value, pays off all its short-term debt, and distributes the remaining cash as a dividend to shareholders?
	MATCH INDEX LOOKUP	Excel	Medium	2 mins	Solve
Some friends live in adjacent apartments in a building in Central Perk, New York. We want to write a function to search the apartment number by name. Which of the following functions should we use?
	Organization data Data transformation	Excel	Medium	3 mins	Solve
We have two Excel files with organization data. One file has Organization ID and Organization Name fields, whereas the second file has Organization ID, Organization Name and Country fields. We wrote a query to retrieve the data from both files. Here’s a sample of the data retrieved: We want to ensure Organization ID field is unique. Which of the following is the ideal solution that ensures Organization ID field is unique while retaining Country data? A: Select the Organization ID and Country columns, and then click Keep Duplicates. B: Select the Organization ID and Country columns, and then click Remove Duplicates. C: Use Group BY function to group the rows by Organization ID. Specify output columns for Organization Name and Country using MAX operation. D: Select Organization ID column and then click Remove Duplicates. Then specify output columns for Country using MAX operation.
	Student scores Data formatting	Excel	Medium	2 mins	Solve
Here’s a sample Excel data source: Here’s the expected data format: Which of the following is the correct way to transform the data from the query editor to achieve the result? A: Columns to Select: Student Only B: Columns to Select: Student and Student ID C: Columns to Select: Primary and Secondary D: Command to Use: Pivot Column E: Command to Use: Reverse Rows F: Command to Use: Unpivot Columns
	VLOOKUP blood donor	Excel	Medium	2 mins	Solve
We are looking to find the contact number of the only blood donor with blood group O-. Which function should we use to look up the correct contact number? Here's the documentation for VLOOKUP: =VLOOKUP(lookup value, range containing the lookup value, the column number in the range containing the return value, Approximate match (TRUE) or Exact match (FALSE)). A: =VLOOKUP("O-", A1:E10, 3, TRUE) B: =VLOOKUP("O-", A1:E10, 3, FALSE) C: =VLOOKUP("O-", D1:D10, 4) D: =VLOOKUP("O-", D1:D10, 3) E: =VLOOKUP("O-", A1:E10, 4, TRUE) F: =VLOOKUP("O-", A1:E10, 4, FALSE) G: =VLOOKUP("Kane", A1:E10, 4)

Reason #4

1200+ customers in 75 countries

With Adaface, we were able to optimise our initial screening process by upwards of 75%, freeing up precious time for both hiring managers and our talent acquisition team alike!

Brandon Lee, Head of People, Love, Bonito

Reason #5

Designed for elimination, not selection

The most important thing while implementing the pre-employment Accounting Assessment Test in your hiring process is that it is an elimination tool, not a selection tool. In other words: you want to use the test to eliminate the candidates who do poorly on the test, not to select the candidates who come out at the top. While they are super valuable, pre-employment tests do not paint the entire picture of a candidate’s abilities, knowledge, and motivations. Multiple easy questions are more predictive of a candidate's ability than fewer hard questions. Harder questions are often "trick" based questions, which do not provide any meaningful signal about the candidate's skillset.

Reason #6

1 click candidate invites

Email invites: You can send candidates an email invite to the Accounting Assessment Test from your dashboard by entering their email address.

Public link: You can create a public link for each test that you can share with candidates.

API or integrations: You can invite candidates directly from your ATS by using our pre-built integrations with popular ATS systems or building a custom integration with your in-house ATS.

Reason #7

Detailed scorecards & comparative results

Reason #8

High completion rate

Adaface tests are conversational, low-stress, and take just 25-40 mins to complete.

This is why Adaface has the highest test-completion rate (86%), which is more than 2x better than traditional assessments.

Reason #9

Advanced Proctoring

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About Accounting Professional Job Roles

Typical Financial Accountant responsibilities include:

Helping in preparing the monthly profit and loss, and balance sheet reports by collecting data, summarizing data and information
Timely response to financial queries by analyzing, summarizing, and interpreting data
Creating KPI reports, quarterly and annual statements
Conducting regular unbiased internal audits
Keeping up to date with financial regulations and compliances

The Accounting assessment test is designed to filter out candidates for job roles like:

Accountant
Financial Accountant
Financial Analyst
Financial Manager
Management Accountant
Staff Accountant

What roles can I use the Accounting Assessment Test for?

Accountant
Finance/Accounts Trainee
Accountant Associates/ Executives Administrative Assistant
Auditor
Forensic accountants
Bookkeepers
Business analysts

What topics are covered in the Accounting Assessment Test?

Use it to verify the accuracy of the balance sheet by comparing the numbers present in General Ledger to the other forms of documentation

Balance Sheet Reconciliations

An index of all possible financial accounts in a company's General Ledger

Chart of Accounts (COA)

Donation of property or money to a non-profit to be used for specific purposes

Endowment

Management, maintenance, and monitoring of motorized and non-motorized assets

Equipment management

Is the cut-off of financial activities of an organization to generate financial reports for stakeholders

Fiscal closing

If people or entities cannot repay debts to creditors, they can seek relief for some or all of their debt through this legal process

Bankruptcy

Journals

Closing of a small business's General Ledger to transfer temporary-account balances to retained earnings to reduce the balances to zero

Ledger closing

Location code

Organization code

Petty Cash is a small amount of money utilized to pay small expenses

Petty cash

It is a number that is used in IFIS to identify the function associated with a balance or transaction

Program code

Are activities that function as a non-profit business

Self Supporting Activities

Sales and use tax

Income Tax Statement

Tax-Exempt Status

Cash investment pool geared towards maximizing returns on short-term cash balances

Short Term Investment Pool (STIP)

Set of procedures, standards, and principles

Accounting Standards

Assets

Auditing

Is the process of matching the balances in an organization's/individuals accounting records for a cash account to the corresponding information on their bank statement.

Bank Reconciliations

Index

Billing

Bond Essentials

Bookkeeping is a practice of maintaining and recording all financial transactions in a business

Bookkeeping

Process of planning the expenses for a given duration of time

Budgeting

Is the act of ensuring a business maximizes its potential production and activities output

Capacity Management

Refers to the process of managing and collecting cash flow

Cash Management

Refers to an accounting procedure that occurs at the end of each month or a fixed time by the company

Closing the Books

Refers to the amount owed to the business by its customers

Collections

Constraint Management

Controls

Corporations

Cost Accounting

Credit

Refers to a company's book value

Equity

It's a broader measure of the worth of an asset

Fair Value

Use it to evaluate budgets, projects, businesses, and finance-related transactions

Financial Analysis

Financial Ratios

The official or formal records of the financial activities of an entity

Financial Statements

Financing

Assets purchased for long-term use and are not cashed in immediately

Fixed Assets

Fraud

Set of unique standards, accounting systems, and processes supporting the federal government

Governmental Accounting

Insurance

The body of accounting that deals with valuing accounting for changes in the inventoried assets

Inventory Accounting

Its the process of storing, using, ordering, and selling a company's inventory

Inventory Management

Investments

Investor Relations

Leases

Liabilities

When two separate entities combine forces to become a joint new organization

Mergers & Acquisitions

The way with which non-profit organizations record, plan, and report their finances

Nonprofit Accounting

Organizations

Partnerships

Something that is created any time money is owed by a firm for products or services rendered

Payables

A business process of payment for paying employees

Payroll

The annual pension expense disclosure and calculation of a pension plan's liabilities and assets in a company's financial statement

Pension Accounting

Present | Future Value

Receivables

Known as the act of keeping track of all the activities of a company, individual, or an organization

Record Keeping

Is a generally accepted accounting principle (GAAP) that identifies the specific conditions in which revenue is recognized and it determines how to account for it

Revenue Recognition

Risk Management

Sales and Marketing

An individual who owns the business by themselves

Sole Proprietorships

Systems

Taxation

Trusts and Estates

Variances

Use it to classify balances and financial activities within the General Ledger

Account codes

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The hiring managers felt that through the technical questions that they asked during the panel interviews, they were able to tell which candidates had better scores, and differentiated with those who did not score as well. They are highly satisfied with the quality of candidates shortlisted with the Adaface screening.

85%

reduction in screening time

View Full Case Study

Accounting Test FAQs

What type of questions will the Accounting Skills Assessment Test include?

There will be scenario-based MCQ questions to evaluate Accounting and Excel concepts. Standard Accounting Online Test has 10 Accounting MCQs and 5 Excel MCQs. The number of questions, difficulty level of questions and topics are customized based on the job description and candidate persona you are looking for. The questions are designed to enable recruiters and hiring managers to identify which candidates should be invited to interviews quickly. The questions are designed to test for on-the-job Accounting skills as opposed to just theoretical concepts.

Can I combine the Accounting Test with an Aptitude Test?

Yes, you can request a custom test which has questions on both aptitude & accounting. A 30 min Aptitude + Accounting test can help you screen candidates quickly & identify top candidates who have the skills to do well on the job.

Can I combine multiple skills into one custom assessment?

Yes, absolutely. Custom assessments are set up based on your job description, and will include questions on all must-have skills you specify.

Do you have any anti-cheating or proctoring features in place?

We have the following anti-cheating features in place:

Non-googleable questions
IP proctoring
Web proctoring
Webcam proctoring
Plagiarism detection
Secure browser

Read more about the proctoring features.

How do I interpret test scores?

The primary thing to keep in mind is that an assessment is an elimination tool, not a selection tool. A skills assessment is optimized to help you eliminate candidates who are not technically qualified for the role, it is not optimized to help you find the best candidate for the role. So the ideal way to use an assessment is to decide a threshold score (typically 55%, we help you benchmark) and invite all candidates who score above the threshold for the next rounds of interview.

What experience level can I use this test for?

Each Adaface assessment is customized to your job description/ ideal candidate persona (our subject matter experts will pick the right questions for your assessment from our library of 10000+ questions). This assessment can be customized for any experience level.

Does every candidate get the same questions?

Yes, it makes it much easier for you to compare candidates. Options for MCQ questions and the order of questions are randomized. We have anti-cheating/ proctoring features in place. In our enterprise plan, we also have the option to create multiple versions of the same assessment with questions of similar difficulty levels.