Consero Global Solutions Senior Accounting Specialist Interview Questions and Answers for Freshers

Easy to crack basic Excel and accounting knowledge

Q1. What do you know about Accumulated Depreciation ?
Ans. 
Accumulated Depreciation is the total depreciation expense recognized for an asset over its useful life.
• Accumulated Depreciation is a contra-asset account that is subtracted from the asset's cost to determine its net book value.

• It represents the cumulative amount of depreciation expense recorded for an asset since its acquisition.

• Accumulated Depreciation increases over time as depreciation expense is recognized.

• It is s...read more
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Q2. What are Month End Closing Procedures ?
Ans. 
Month end closing procedures are the steps taken to finalize financial statements at the end of each month.
• Reconciling accounts

• Posting adjusting entries

• Reviewing financial statements

• Preparing reports for management

• Closing temporary accounts

• Ensuring compliance with accounting standards

• Archiving financial records

• Preparing for the next month's accounting cycle
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Q1. What do you know about Unbilled Revenue ?
Ans. 
Unbilled revenue refers to revenue that has been earned but not yet invoiced to the customer.
• Unbilled revenue is a liability on the balance sheet until it is invoiced.

• It represents the amount of revenue that the company has recognized but has not yet received payment for.

• Unbilled revenue can occur in industries where services are provided over a period of time, such as consulting or software development.

• For example, if...read more
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