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The three golden rules of accounting are the rules of debit and credit, the rule of accounts, and the rule of recording transactions.
Debit the receiver, credit the giver
Debit what comes in, credit what goes out
Debit expenses and losses, credit income and gains
Accrual refers to the recognition of revenues and expenses when they are incurred, regardless of when cash is exchanged.
Accrual accounting matches revenues with expenses in the same accounting period
Accrual entry involves recording revenues when they are earned and expenses when they are incurred, even if cash has not been exchanged
Example: Recording sales revenue when goods are delivered, even if payment is received l
I applied via Naukri.com and was interviewed in Jun 2023. There were 2 interview rounds.
Related to management and planning and hr recruitment
I applied via Recruitment Consultant and was interviewed in Jun 2021. There were 3 interview rounds.
I applied via Naukri.com and was interviewed before Nov 2020. There were 3 interview rounds.
Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.
Accounts payable is a liability on the balance sheet
It represents the amount of money owed by a company to its suppliers or vendors
It is typically recorded when goods or services are received but payment has not yet been made
Accounts payable is an important part of a company's working capital man
Bank reconciliation statement is a document that compares the bank's records with the company's records to ensure they match.
It is used to identify any discrepancies between the two sets of records.
It includes items such as deposits in transit, outstanding checks, bank errors, and service charges.
The goal is to ensure the accuracy of the company's financial records and the bank's records.
Once discrepancies are identifi...
I applied via Monster and was interviewed in Apr 2024. There was 1 interview round.
I applied via Walk-in and was interviewed in Apr 2022. There was 1 interview round.
I applied via Recruitment Consultant and was interviewed in Nov 2021. There were 3 interview rounds.
The golden rules of accounting are basic principles that guide the recording of financial transactions.
The first golden rule is the Personal Account rule, which states that debit the receiver and credit the giver.
The second golden rule is the Real Account rule, which states that debit what comes in and credit what goes out.
The third golden rule is the Nominal Account rule, which states that debit all expenses and losse
Provision for bad debts is an estimated amount set aside by a company to cover potential losses from customers who may not pay their debts.
Provision for bad debts is a common practice in accounting to ensure that a company's financial statements accurately reflect the potential losses from unpaid debts.
The provision is based on an estimate of the percentage of outstanding debts that are likely to go bad.
The provision i...
In my previous organization, the finance process was streamlined and efficient.
Implemented automated invoicing system which reduced errors and saved time
Conducted regular audits to ensure compliance with financial regulations
Collaborated with cross-functional teams to develop and monitor budgets
Maintained accurate financial records and generated reports for management
Managed accounts payable and receivable, including t
Assistant Manager
3
salaries
| ₹3.9 L/yr - ₹5.3 L/yr |
Remote Desktop Support Engineer
3
salaries
| ₹2.2 L/yr - ₹2.2 L/yr |
Assistant Accounts Manager
3
salaries
| ₹3.8 L/yr - ₹4.2 L/yr |
Godrej Security Solutions
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