2COMS Assistant Accounts Manager Interview Questions and Answers

Q1. Journal entry for prepaid expenses
Ans. 
Journal entry for prepaid expenses involves debiting Prepaid Expense account and crediting Cash or Bank account.
• Prepaid expenses are expenses paid in advance but not yet incurred.

• To record prepaid expenses, debit the Prepaid Expense account and credit Cash or Bank account.

• Example: Journal entry for prepaid rent of $1,200 would be: Debit Prepaid Rent $1,200 and Credit Cash/Bank $1,200.
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Q2. Journal entry for dividend
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Journal entry for dividend involves debiting retained earnings and crediting dividends payable or cash account.
• Debit retained earnings to decrease equity

• Credit dividends payable or cash account to show payment to shareholders

• Dividends are not an expense, but a distribution of profits

• Journal entry: Debit Retained Earnings, Credit Dividends Payable or Cash
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Q1. Tell me about yourself
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Q2. Why PM to account manager role.
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Q1. Tell me about self
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Q2. What are u something
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Q1. Tell me about self
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Q2. What are u something
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Q1. Self introduce , skills, Education
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Q1. What is your current CTC
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Q2. What is work experience
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Campaign idea needed

Q1. Why you want to join
Ans. 
I want to join because I have a strong background in accounts management and I am excited about the opportunity to contribute to the growth and success of the company.
• I have several years of experience in accounts management and have successfully handled large client portfolios.

• I am highly skilled in financial analysis, budgeting, and forecasting, which are essential for the role of an Accounts Manager.

• I am motivated b...read more
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Q2. Tell me about yourself
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I am an experienced Accounts Manager with a strong background in financial management and team leadership.
• Over 10 years of experience in managing accounts and financial operations

• Proven track record of successfully leading teams and achieving financial targets

• Expertise in budgeting, forecasting, and financial analysis

• Proficient in using accounting software such as QuickBooks and Excel

• Strong communication and interperso...read more
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Q1. Revenue recognition -How would you recognise revenue and walk through
Ans. 
Revenue recognition involves identifying when and how revenue should be recorded in financial statements.
• Revenue should be recognized when it is earned and realized or realizable

• The amount of revenue recognized should be the amount that is expected to be received

• Revenue recognition should follow the matching principle

• Examples of revenue recognition methods include percentage of completion, completed contract, and insta...read more
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Q2. Tell me about your self
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Q3. Why do you want to work in Reporting
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Q4. What are the components of FSt
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FSt stands for Financial Statements. The components of FSt are the Income Statement, Balance Sheet, and Cash Flow Statement.
• Income Statement shows the company's revenues and expenses over a period of time.

• Balance Sheet shows the company's assets, liabilities, and equity at a specific point in time.

• Cash Flow Statement shows the company's inflows and outflows of cash over a period of time.

• Financial Statements are used to...read more
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Q1. Tell me something about yourself
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Q2. What do you know about your job responsibilities for which post you applied
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Given a scenario where the customer is very angry how do you handle the situation?

Q1. Documents submission
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