Accsys Consulting Accountant Interview Questions and Answers

Accounting questions for aptitude test

Q1. What is working capital
Ans. 
Working capital is the difference between a company's current assets and current liabilities.
• Working capital is a measure of a company's operational efficiency and short-term financial health.

• It shows how much liquid assets a company has available to meet its short-term obligations.

• Formula: Working Capital = Current Assets - Current Liabilities

• Examples of current assets: cash, accounts receivable, inventory

• Examples of ...read more
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Q2. What is a accounting process
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Accounting process refers to the series of steps taken to record, analyze, and report financial transactions of a business.
• The accounting process starts with identifying and recording financial transactions.

• Transactions are then classified into different accounts based on their nature (e.g. assets, liabilities, equity, revenue, expenses).

• The recorded transactions are then summarized and analyzed to prepare financial st...read more
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Q3. All accounting questions
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Q4. State the three main types of accounting
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The three main types of accounting are financial accounting, management accounting, and tax accounting.
• Financial accounting focuses on recording and reporting financial transactions of a business.

• Management accounting involves providing information to help with internal decision-making and planning.

• Tax accounting deals with tax-related matters, such as preparing tax returns and ensuring compliance with tax laws.
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Q5. Golden rules of accounting
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Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The three golden rules of accounting are: 1. Debit the receiver, credit the giver 2. Debit what comes in, credit what goes out 3. Debit expenses and losses, credit income and gains

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a...read more
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4 part in aptitude english, logical, insurance, accounting

Q1. What is accounting
Ans. 
Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business.
• Involves recording financial transactions

• Summarizing financial data in financial statements

• Analyzing financial information to make business decisions

• Reporting financial results to stakeholders

• Examples: preparing balance sheets, income statements, cash flow statements
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Q1. Accounting Concepts & Basics of Accounting
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Q1. Just introduction myself with good communication I'm fresher
Ans. Tell me about your education Backround
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Q2. Share experience with your best memories
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For 1 question one minute time they have given. We have to answer very fast.

Q1. How many data types in java.
Ans. 
There are 8 primitive data types in Java.
• Primitive data types: byte, short, int, long, float, double, char, boolean

• Examples: int num = 10; char letter = 'A'; boolean flag = true;
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What is Balance sheet

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Q1. What is your neme what is your qualification and experience
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Q2. Do you know this company and your hobies
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Q3. What is your background
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Q4. What is besic concept in account
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The basic concept in accounting is the double-entry system, which involves recording every transaction in two accounts: debit and credit.
• Double-entry system is the foundation of accounting

• Every transaction is recorded in two accounts: debit and credit

• Debit refers to the left side of an account and credit refers to the right side

• Debit and credit must always balance

• Examples: recording a sale, paying rent, receiving payme
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Q5. What is accural concept in account
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Accrual concept is a method of accounting where revenues and expenses are recognized when earned or incurred, regardless of when payment is received or made.
• Revenue is recognized when it is earned, not when payment is received

• Expenses are recognized when they are incurred, not when payment is made

• Accrual accounting provides a more accurate picture of a company's financial health

• Example: A company provides services to a...read more
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Q6. What are three goldan rools of account
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The three golden rules of accounting are the basis of recording financial transactions accurately.
• The first rule is the Personal Account, which deals with transactions related to individuals or organizations.

• The second rule is the Real Account, which deals with transactions related to assets, liabilities, and capital.

• The third rule is the Nominal Account, which deals with transactions related to expenses, incomes, gain...read more
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Q7. What is your faimly background
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Q8. What are your stranth
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Q9. And why Should we heare now
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