Accounting Terminology (US)
Summary of the Accounting Terminology (US) test
This hiring test evaluates candidates’ practical skills in understanding various accounting terms related to financial statements, books of accounts, and other aspects of financial transactions. This screening test focuses on terms used in the US.
Covered skills
Balance sheet
Income statements, statement of owner’s equity, and cash flow statement
Overall financial statements and books of accounts
Use the Accounting Terminology (US) test to hire
Accountants, bookkeepers, auditors, actuaries, clerks, comptrollers/controllers, analysts, and anyone that frequently works with financial information.
About the Accounting Terminology (US) test
Every profession has its own terminologies and jargon that help convey a large volume of information and other relevant details through a very small statement or even a single word.
The accounting profession also has a large number of unique terminologies. These terminologies are used to describe financial information and related processes. Financial information can incorporate lots of different things: the right to receive an amount from another person; the obligation to pay an amount to another person; how much you have earned or lost or expended during a certain period; or the total worth of a business entity or a particular thing. Accountants use terms and phrases to quickly communicate the meaning of financial information, and this hiring test focuses on these terms.
Candidates who perform well on the test are likely to possess a good understanding of key accounting terminologies used in the United States. The hiring test will ensure that candidates will be a good addition to the accounting team at your company and that candidates will immediately start performing their job efficiently and effectively.
The test is made by a subject-matter expert
TestGorilla’s tests are created by subject matter experts. We assess potential subject-matter experts based on their knowledge, ability, and reputation.Before being published, each test is peer-reviewed by another expert, then calibrated using hundreds of test takers with relevant experience in the subject.
Our feedback mechanisms and unique algorithms allow our subject-matter experts to constantly improve their tests.
Abdul G.
Abdul is a chartered accountant and certified ISO 31000 risk manager with over 15 years of experience managing other accountants and staff in many businesses, large and small. Abdul also has an MBA with significant consulting experience across business sectors, including oil and gas, pharmaceuticals, food, and education.
He has worked as a university lecturer in accounting, finance, and tax-related subjects for more than five years and currently works on complex risk management policies as a senior risk management officer.
Reliability: Cronbach’s alpha coefficient = .73
Face validity: Candidates rated this test as accurately measuring their skills (average score of 3.85 out of 5.00).
Criterion-related validity: Candidates with higher scores on this test received higher average ratings from the hiring team during the selection process (r = .42, N = 168).
For an in-depth look at interpreting test results, please take a look at our Science series articles: How to interpret test fact sheets (part 1): Reliability, and How to interpret test fact sheets (part 2): Validity.
For an explanation of the various terms, please refer to our Science glossary.
Reliability and validity | Sufficient data available | Analyses and checks conducted | Outcome |
|---|---|---|---|
Reliability | ✔ | ✔ | Acceptable |
Content validity | ✔ | ✔ | Acceptable |
Face validity | ✔ | ✔ | Acceptable |
Construct validity | ✔ | ✔ | Acceptable |
Criterion-related validity | ✔ | ✔ | Acceptable |
Group differences | |||
Age differences | Pending | Pending | Pending |
Gender differences | ✔ | ✔ | Acceptable |
Ethnicity differences | Pending | Pending | Pending |
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