ABC Consultants Accountant Interview Questions and Answers

The question is testing your knowledge of Excel functions and features commonly used in accounting.

• Subtotal function is used to calculate subtotals in a list of data.

• Sum If function adds up values based on a specified condition.

• Pivot Table is a powerful tool for summarizing and analyzing data.

• Conditional Formatting allows you to highlight cells based on certain criteria.

• V-Lookup is used to search for a value in a table...read more

GST rules and filing involve understanding tax regulations and submitting accurate returns.

• Understand GST rules and regulations to determine tax liabilities

• Maintain accurate records of sales and purchases for GST filing

• File GST returns on time to avoid penalties

• Use GST software or hire a professional accountant for assistance

• Ensure compliance with GST audit requirements

Cash burn refers to the rate at which a company is spending its cash reserves.

• It is the amount of money a company is losing each month.

• It is calculated by subtracting the company's monthly expenses from its monthly revenue.

• It is important for investors to monitor a company's cash burn to ensure it has enough cash to continue operating.

• If a company's cash burn rate is too high, it may need to raise additional funds thro...read more

Chart of accounts is a list of all the accounts used by an organization to record financial transactions.

• It is a systematic list of all the accounts used by an organization

• It helps in organizing financial transactions

• It provides a framework for financial reporting

• It is usually organized in a hierarchical structure

• Examples of accounts include assets, liabilities, revenue, expenses, etc.