1. What makes account manager successful?
Speak confidently when answering questions where success is the subject. You do not have to gush and describe every possible aspect you can think of. Talk about a few key concepts, like communication and negotiation skills, market research and customer prospecting, etc. You will make an even better impression if you give an example from your own professional life to demonstrate your idea.
2. What are the most important qualities of an account manager?
This question tests your confidence, self awareness, and independence. Do not be afraid to speak your mind confidently. The ability to work independently and make decisions is crucial if you are an account manager. This in turn requires being organized and self motivated, with the ability to work with many customers at once. This means outstanding customer service skills.
3. What are your tactics, techniques, and sales methods to increase revenues?
An account manager uses the information at his disposal to maintain and increase client interest. Staying current and doing marketing research are key factors to understanding what the customer is getting tired of and what he might become interested in. This information has to be effectively coordinated with the company departments in order to result in a product that will prevent the customer from leaving.
4. Tell me what is important to effective market analysis?
Generally speaking, it is important to do research on a regular basis in relation to every individual client or category of clients. Effective research assesses current situations to project future developments and opportunities for the company. It studies competitors and proposes improvements.
5. Define team work and communication skills in the context of account management?
As an account manager, you work on two fronts: the clients and your company. Both require excellent communication skills. You need to earn the trust of both clients and managers, to convince both sides to close the best possible deal. Teamwork is probably more related to coordinating actions with the company, the development, sales, and marketing departments.
6. Which work environment do you prefer?
In addition to accounting activities, an account manager holds a management position that involves company relations to interact effectively with staff. With a question related to a preferred work environment, an interviewer is probing the candidate's leadership abilities and interpersonal skills. A candidate who chooses an environment in which he can interact to offer support and feedback, may be preferred to a candidate who prefers to sit behind a desk.
7. What was the tough decision you had to make quickly?
An employer may seek an account manager with the ability to make decisions in a fraction of a section. If the interviewer asks a candidate a question about making quick decisions, the candidate should be able to provide an incident, the choices she had and the reasons for the decision she made. Her incident may involve a new credit policy, lowering a price for volume dealers, or other incidents with long-term effects on a business. The candidate could end the response with her decision and the outcome.
8. Tell me about your track record for consistently achieving your targets?
An interviewer expects an account manager to be efficient in knowing how to meet targets within deadlines. He may ask the candidate about his track record for achieving targets. With this question, he gives the candidate an opportunity to provide examples of goals and strategies to achieve them. The interviewer may look for the candidate's strong communication skills as a vital tool in the candidate's examples.
9. What duties are performed by account manager?
An account manager supervises account activities of a business. A hiring organization may look for a person who can demonstrate her confidence in the position with relevant experience in the position and the ability to make quick decisions. Her experience should bring strong communication skills to work with her team to effectively to meet deadlines and achieve the company's targets.
10. Tell me will you be out to take my job?
Maybe in about twenty years, but by then, I suspect you'll be running the entire company and will need a good, loyal lieutenant to help you manage this department!
I consider myself ambitious, but I'm also practical. As long as I am continuing to learn and grow within my position, I'll be a happy camper. Different companies promote people at different rates, and I'm pretty confident that working for you will keep my motivated and mentally stimulated for several years to come.
12. Tell me about your biggest weakness that's really a weakness, and not a secret strength?
I am extremely impatient. I expect my employees to prove themselves on the very first assignment. If they fail, my tendency is to stop delegating to them and start doing everything myself.
To compensate for my own weakness, however, I have started to really prep my people on exactly what will be expected of them.
13. Why should I let you experiment on my nickel? You have already changed careers before?
As a career-changer, I believe that I'm a better employee because I've gained a lot of diverse skills from moving around. These skills help me solve problems creatively.
14. Suppose if you knew that things were rocky, why didn't you get out of the company sooner?
I was working so hard to keep my job while everyone around me was being cut that I didn't have any time left over to look for another job. With all of the mergers that have been happening in our field, layoffs are a way of life. At least I gave it my best shot!
15. You were fired twice. How did that make you feel?
After I recuperated from the shock both times, it made me feel stronger. It's true that I was fired twice, but I managed to bounce back both times and land jobs that gave me more responsibility, paid me more money, and were at better firms.
The morale here is very high. I've been exposed to the "seamy underbelly" of this business, but I'm still passionate about working in it.
16. You majored in philosophy. How did that prepare you for this career?
Philosophy didn't prepare me for a career in accounting at all. But it did force me to become philosophical about my prospects. After two years of trying to figure out what to do with my life, I visited Chicago one weekend, and was absolutely spell bound by the gorgeous architecture all around me.
I came home, applied to architecture schools all over the country, and was accepted by one of the best. I've never looked back. This is definitely the career that I was meant to be in.
17. Tell me what is the difference between revenues and receipts?
A company's revenues are amounts it has earned as the result of business activities such as selling merchandise or performing services. Under the accrual method of accounting, revenues are reported on the income statement in the period in which they are earned even when a dependable customer is allowed to pay 60 days later. In this example, when the revenues are earned the company will credit a revenues account and will debit the asset account Accounts Receivable.
18. Describe ordinary annuity?
In accounting, an ordinary annuity refers to a series of identical cash amounts with each amount occurring at the end of equal time intervals.
An ordinary annuity is also known as an annuity in arrears.
19. Tell me about premium on bonds payable?
Premium on bonds payable (or bond premium) occurs when bonds payable are issued for an amount greater than their face or maturity amount. This is caused by the bonds having a stated interest rate that is higher than the market interest rate for similar bonds.
20. What is operating expenses?
Operating expenses are the costs associated with a company's main operating activities and which are reported on its income statement.
21. Explain about cost of goods sold?
These costs are reported as operating expenses on the income statement because of the matching principle. The revenues from the sale of merchandise must be matched with the cost of the merchandise that is sold.
22. Tell me about selling, general and administrative expenses?
These costs are reported as operating expenses on the income statement because they pertain to operating the main business during that accounting period. These costs may have expired, may have been used up, or may not have a future value that can be measured.
23. Define the stated interest rate of a bond payable?
The stated interest rate of a bond payable is the annual interest rate that is printed on the face of the bond. The stated interest rate multiplied by the bond's face amount (or par amount) results in the annual amount of interest that must be paid by the issuer of the bond. For example, if a corporation issues $10,000,000 of bonds having a stated interest rate of 6%, it is promising to pay interest of $600,000 each year (usually $300,000 semiannually).
The stated interest rate of a bond payable is also known as the face interest rate, the nominal interest rate, the contractual interest rate, and the coupon interest rate.
The accrual method of accounting reports revenues on the income statement when they are earned even if the customer will pay 30 days later. At the time that the revenues are earned the company will credit a revenue account and will debit the asset account Accounts Receivable. When the customer pays 30 days after the revenues were earned, the company will debit Cash and will credit Accounts Receivable.
The accrual method of accounting also requires that expenses and losses be reported on the income statement when they occur even if payment will take place 30 days later. For example, if a company has a $15,000 repair done on December 15 and the vendor allows for payment on January 15, the company will report a repair expense and a liability of $15,000 as of December 15. On January 15 the company will credit Cash and will debit the liability account.
25. Explain the statement of cash flows?
The statement of cash flows is one of the main financial statements. It is to accompany the income statement, balance sheet, and statement of stockholders' equity. The statement of cash flows (also known as the cash flow statement) reports.
★ The major sources and uses of cash during the period of the income statement.
★ A reconciliation of the change in an organization's cash and cash equivalents (which are reported on the beginning and ending balance sheets).
★ Supplementary information including the amount of income taxes paid, the amount of interest paid, and significant noncash investing and financing activities (such as issuing common stock in exchange for land).
