ATLANTIC CONSTRUCTIONS Accountant Interview Questions and Answers

Debit and credit are the two sides of every financial transaction. Debit is an entry on the left side, and credit is an entry on the right side.

• Debit represents an increase in assets or a decrease in liabilities or equity.

• Credit represents a decrease in assets or an increase in liabilities or equity.

• Debit and credit must always balance in every transaction.

• For example, when a company purchases inventory with cash, the ...read more

Depreciation is the decrease in value of an asset over time due to wear and tear, obsolescence, or other factors.

• Depreciation is a non-cash expense that reduces the value of an asset on the balance sheet.

• It is calculated based on the useful life of the asset and the method of depreciation chosen.

• Examples of assets that are subject to depreciation include buildings, vehicles, and equipment.

• Depreciation can be straight-l...read more

In Tally, developments refer to new features, updates, and improvements made to the software.

• Developments in Tally include new functionalities added to the software.

• Updates to existing features to enhance performance and user experience.

• Improvements in user interface for better navigation and usability.

• Bug fixes to address issues reported by users.

• Integration of new technologies to keep up with industry standards.

• For e...read more

The question should be related to accounting principles and practices.

• The question can be about financial statements, budgeting, or auditing.

• It can also be about accounting software or tax laws.

• Examples: What is the difference between a balance sheet and an income statement? How do you ensure accuracy in financial reporting?

• What are the common accounting software used in your previous company? How do you handle tax com