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Cost Accounting Interview

  • 05-08-2009 8:34pm
    #1
    A2fan
    Registered Users, Registered Users 2 Posts: 57 ✭✭


    Any advice on what type of questions to expect?
    Thanks in advance


Comments

  • #2
    Clanket
    Closed Accounts Posts: 2,087 ✭✭✭Clanket


    A2fan wrote: »
    Any advice on what type of questions to expect?
    Thanks in advance

    Are you an accountant? :D


  • #3
    A2fan
    Registered Users, Registered Users 2 Posts: 57 ✭✭A2fan


    Strangely enough I actually am - albeit with very little costing experience - I see it as an opportunity to broaden my general accounting experience - it shouldn't be impossible to pick up but it will definitely be necessary to demonstrate an understanding of cost accounting at interview I would imagine
    Anything more helpful?:)


  • #4
    Richard571
    Registered Users, Registered Users 2 Posts: 103 ✭✭Richard571


    You will probably be asked how you would set a standard cost for a product / service - what are the sorts of costs you shoud consider - such as material (qty per BOMs, purchase price), direct labour and indirect overheads such as payroll, depreciation, utility costs and allocations fo all other expenses.

    You would also be expected to have an appreciation of MUV - material usage variances, and PPV, purchase price variances to the stds and spending variances. How would these be tracked and reported back to departmental managers etc.

    Different industries would set stds differently - fully absorbed, marginal costing, ABC costing. Think about what may be approrpaite in the job you are applying for.


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