Aparajitha Corporate Services Accounts Associate Interview Questions and Answers

Accounting golden rules are basic principles of accounting that guide the recording of financial transactions.

• There are three golden rules of accounting: debit the receiver, credit the giver; debit what comes in, credit what goes out; debit expenses and losses, credit income and gains.

• These rules ensure that every financial transaction is recorded accurately and consistently.

• For example, if a company receives cash from...read more

Reconciliation is the process of comparing two sets of records to ensure they are in agreement.

• It involves identifying and resolving any discrepancies between the two sets of records.

• Common examples include bank statement reconciliation, inventory reconciliation, and accounts receivable reconciliation.

• Reconciliation is important for ensuring accurate financial reporting and identifying any errors or fraud.

• It can be don...read more