NatWest Group Interview Questions and Answers

Bank Reconciliation statement is a document that compares the bank statement with the company's cash records.

• It helps identify any discrepancies between the bank statement and the company's records.

• It ensures that the company's cash balance is accurate and complete.

• It includes adjustments for outstanding checks, deposits in transit, bank fees, and other transactions.

• The statement reconciles the ending balance on the bank statement with the adjusted cash balance per the compan...read more

There are five types of accounts in US accounting: assets, liabilities, equity, revenue, and expenses.

• Assets: resources owned by a company, such as cash, inventory, and property

• Liabilities: debts or obligations owed by a company, such as loans and accounts payable

• Equity: the residual interest in the assets of a company after deducting liabilities

• Revenue: income generated from the sale of goods or services

• Expenses: costs incurred by a company in order to generate revenue

The balance sheet is a financial statement that provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time.

• It shows what a company owns (assets), what it owes (liabilities), and the residual interest of the owners (shareholders' equity).

• The balance sheet follows the accounting equation: Assets = Liabilities + Shareholders' Equity.

• It helps assess a company's financial health, liquidity, and solvency.

• Examples of balance sheet it...read more

Depreciation is the allocation of the cost of a tangible asset over its useful life.

• Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.

• It is used to spread the cost of an asset over its useful life to match the revenue it generates.

• Common methods of calculating depreciation include straight-line, double declining balance, and units of production.

• Example: A company purchases a delivery truck for $50,000 with a useful life of 5 years. U...read more

A credit memo is a document issued by a seller to a buyer, reducing the amount owed by the buyer.

• Credit memos are typically issued for returns, discounts, or errors in billing.

• They serve as a record of the reduction in the amount owed by the buyer.

• Credit memos are often used in accounting to adjust accounts receivable or accounts payable.

• Example: A customer returns a defective product and receives a credit memo for the refund amount.

Example CPT code and PMS system knowledge, salary negotiation skills demonstrated

• Example CPT code: 99213 (Established patient office visit, level 3)

• PMS system knowledge: I am familiar with Epic and Cerner systems

• Salary negotiation: I am seeking a salary of 40k, but open to discussion based on the overall compensation package