Analytix Business Solutions Accounts Officer Interview Questions and Answers

Accounting and loical

Q1. Sub ledger vs Ledger
Ans. 
Sub ledger is a detailed record of specific accounts, while ledger is a summary of all accounts.
• Sub ledger contains detailed transactions for specific accounts, while ledger summarizes all accounts.

• Sub ledger is used for tracking individual transactions, while ledger is used for overall financial reporting.

• Examples of sub ledgers include accounts receivable, accounts payable, and inventory, while the ledger includes al
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Q1. Tell me about Past Experience?
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Q2. What is the relevant role that you did?
Ans. Sharing two job roles I did.
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Q3. What was your last drawn salary?
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Q1. What do you know about the process?
Ans. 
The process refers to the series of steps involved in managing accounts, including financial record-keeping, analysis, and reporting.
• The process involves maintaining accurate financial records and transactions.

• It includes tasks such as bookkeeping, invoicing, and payroll management.

• Account managers analyze financial data to assess the financial health of the organization.

• They prepare financial reports, budgets, and for...read more
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Q2. How do you control the technical know hows?
Ans. 
I ensure technical knowledge through regular training and communication with team members.
• Regular training sessions to update knowledge

• Encouraging team members to share their knowledge and expertise

• Establishing a culture of continuous learning and improvement

• Regular communication with team members to identify knowledge gaps and address them

• Encouraging team members to attend industry conferences and events

• Providing acce...read more
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Q3. What is a difference between a Custom Website & CMS?
Ans. 
A custom website is built from scratch while a CMS is a pre-built platform for website creation and management.
• Custom websites are unique and tailored to specific needs while CMS websites are more standardized.

• Custom websites require more time and resources to build while CMS websites can be created quickly.

• Custom websites offer more flexibility and control over design and functionality while CMS websites have limitati...read more
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Q1. ACCOUNTS PAYABLE AND ACCOUNTS RECEIVABLE
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Q2. INTERCOMPANY QUESTIONS
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Q1. Can you describe a time when you identified and resolved a significant accounting discrepancy? What steps did you take to address the issue and ensure it didn’t recur
Ans. 
I identified a discrepancy in inventory valuation and resolved it by conducting a thorough reconciliation process.
• Identified the discrepancy during a routine audit of inventory records

• Conducted a detailed analysis of purchase orders, sales records, and physical inventory counts

• Discovered a misallocation of costs leading to the discrepancy

• Implemented new controls to ensure accurate recording of inventory costs

• Regularly ...read more
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Q2. How do you stay current with changes in accounting regulations and standards, and how do you ensure your team is also up-to-date
Ans. 
Stay current with changes in accounting regulations and standards
• Regularly attend accounting seminars and conferences

• Subscribe to accounting journals and newsletters

• Participate in online webinars and courses

• Network with other accounting professionals to discuss updates

• Encourage team members to pursue continuing education and certifications
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Q1. Introduce about yourself
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Q1. Journal entries of Sales, purchase, Expenses, depreciation, Fixed asset and this schedule and some questions were related to finalization
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Q2. How to do the finalization of books of accounts
Ans. 
Finalization of books of accounts involves closing all accounts, preparing financial statements, and ensuring accuracy.
• Ensure all transactions are recorded accurately

• Close revenue and expense accounts by transferring balances to income statement

• Prepare balance sheet and income statement

• Reconcile accounts to ensure accuracy

• Review financial statements for errors or discrepancies
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Q1. Total experience , Profile handled , team handled, CTC and expected CTC
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Q1. Detailed discussion on profile handled included volume handled , technical know abouts
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Q1. Current and past accounting experience
Ans. 
I have 5 years of experience in accounting, including managing financial records, preparing financial statements, and conducting audits.
• Managed financial records for multiple clients

• Prepared monthly, quarterly, and annual financial statements

• Conducted audits to ensure compliance with regulations

• Utilized accounting software such as QuickBooks and Excel

• Collaborated with cross-functional teams to analyze financial data
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Q2. Open to work in U.S. shift
Ans. Yes. Had previously worked in U.S. shift
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Q3. Willingness to relocate
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Q1. Detailed previous work experience
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Q2. Reason for change
Ans. Shared the reason for job change
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Q3. Accounting entries
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Q4. Some accounting entries related to month end and year end closing
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Q5. Willingness to relocate
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Q6. Agreed to relocate as and when need arises
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