Accounting Principles Assessment to measure candidate's knowledge and skills in accounting principles

In the ever-evolving world of finance, finding the most suitable candidate with a strong understanding of accounting principles is crucial. Mercer | Mettl offers this specialized assessment to measure candidates' knowledge and expertise in accounting, helping businesses identify top talent in the field. Mercer | Mettl's Accounting Principles Test allows recruiters and hiring managers to identify and find competent candidates from a large potential applicant pool and make informed hiring decisions. In addition, it minimizes the administrative overhead costs of interviewing many candidates and saves substantial time in the hiring process.

What is the importance of the Accounting Principles Test?

Mercer | Mettl's Online Accounting Principles Assessment screens candidates for the essential skills employers seek in an accounting professional, such as an in-depth understanding of accounting principles and standards, managerial and financial accounting statements, financial ratios, accounts receivable and payable, adjusting entries, and financial statement analysis.

What is inside this Accounting Principles Test?

Designed by subject matter experts, this assessment contains thirty questions to be completed in thirty minutes. By including this test during the pre-employment screening, employers can ensure that the potential candidates shortlisted for the interview have the prerequisite skills. Moreover, the candidate's skills are evaluated on three levels - easy, medium and difficult.

What skills does the Accounting Principles Test cover?

Accounting: It refers to the ability and knowledge of basic accounting concepts, e.g., accounting principles and standards, adjusting entries, financial ratios, accounts receivable and payable, managerial and financial accounting statements, and financial statement analysis and using these daily in the organization's business.

What roles can you assess when using the Accounting Principles Test?

• Accountant   
• Budget analyst   
• Financial accountant   
• Management accountant   
• Staff accountant   
• Financial analyst   
• Financial manager

How does the Accounting Principles Test help recruiters hire people?

Accountants work on an organization's accounts, ensuring compliance with tax regulations. They assist the top management through financial analysis. Accountants must have solid analytical and problem-solving knowledge and skills to understand and interpret financial reports. Recruiters can use in-depth insights from this pre-employment test to find the most suitable candidates. In addition, they can conduct tests in a secure, controlled environment with features such as limited system access, webcam proctoring, and window violation. By using this test, employers can quickly assess whether candidates have the necessary accounting expertise to perform well. The test ensures that only qualified individuals progress through the hiring process, ultimately leading to better hiring decisions.

Sample questions and answers for the Accounting Principles Test

1. What long-term assets have no physical existence but are rights that have value?  

A. Current assets  

B. Fixed assets  

C. Intangible assets  

D. Investments  

Answer- C. Intangible assets  

   

2. What is a business's sales income (credit and cash) during a period?  

A. Transactions  

B. Sales returns  

C. Turnover  

D. Purchase returns  

Answer- C. Turnover  

   

3. Which of the following is a fixed asset?  

A. Closing inventory  

B. Fixed deposit in a bank  

C. Patents  

D. Prepaid expenses  

Answer- C. Patents  

   

4. Accounting is the process of matching what?  

A. Benefits and costs  

B. Revenues and costs  

C. Cash inflows and outflows  

D. Potential and real performance  

Answer- Revenues and costs  

   

5. Which of the following is an unaccrued income?  

A. Asset  

B. Liability  

C. Income  

D. Expense  

Answer- B. Liability