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Provision is a liability that is uncertain in timing or amount, while a reserve is a portion of profits set aside for specific purposes.
Provision is a liability that is recognized based on estimates, such as bad debt provision.
Reserve is a part of profits that is retained for specific purposes, like a contingency reserve.
Provisions are recorded on the balance sheet, while reserves are shown in the equity section.
Provis...
Provision is an estimated expense recorded in the financial statements, while journal entry is the actual entry made to record the provision.
Provision is made for anticipated expenses that have not yet been incurred but are likely to occur in the future.
Journal entry is the actual accounting entry made to record the provision in the financial statements.
Provision is usually based on estimates and requires judgment by m...
I applied via Naukri.com and was interviewed in Dec 2024. There was 1 interview round.
I applied via Naukri.com and was interviewed in Oct 2023. There were 2 interview rounds.
Bank reconciliation is the process of comparing and matching the balances in a company's accounting records with the balances on its bank statement.
Bank reconciliation helps ensure the accuracy of a company's financial records.
It involves comparing the transactions recorded in the company's books with those in the bank statement.
Any discrepancies between the two balances are identified and resolved.
Common reasons for d...
I applied via Company Website and was interviewed in Feb 2024. There was 1 interview round.
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I am a detail-oriented accountant with experience in financial analysis and reporting. The golden rule of accounting is to debit the receiver and credit the giver. Bank reconciliation statement is a process of matching the balances in a company's accounting records to the corresponding information on a bank statement.
Golden rule of accounting: Debit the receiver, credit the giver
Bank reconciliation statement: Matching ...
posted on 7 Jul 2024
posted on 30 Oct 2022
Customer service and profit are closely related as good customer service leads to increased profits.
Good customer service leads to customer satisfaction and loyalty, resulting in repeat business and positive word-of-mouth referrals.
Positive reviews and feedback from satisfied customers can attract new customers and increase sales.
Poor customer service can lead to negative reviews, loss of customers, and decreased profi...
I communicate with customers through active listening, clear and concise language, and empathy.
I actively listen to customers to understand their needs and concerns.
I use clear and concise language to ensure that customers understand the information I am providing.
I approach customer interactions with empathy and understanding to build rapport and trust.
I am responsive to customer inquiries and follow up promptly to en...
I am a Senior Accountant with expertise in financial reporting and analysis.
The three golden rules of accounts are: a) Debit the receiver, credit the giver b) Debit what comes in, credit what goes out c) Debit all expenses and losses, credit all incomes and gains
These rules are the foundation of double-entry bookkeeping and ensure accuracy in financial transactions.
For example, if a company purchases inventory on credi...
I am a Senior Accountant with experience in managing financial processes and proficient in Excel.
Managed financial processes including budgeting, forecasting, and reporting
Ensured compliance with accounting standards and regulations
Collaborated with cross-functional teams to streamline processes and improve efficiency
Proficient in Excel for data analysis and reporting
Developed and implemented internal controls to mitig
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