1. what is deferred revenue? 2. What is accrued income? 3. Month end closing activities from accounting perspective 4. What is accumulated Depreciation? 5. Depreciation entry 6. Entry for payroll expenses with TDS deduction 7. Things to check during balance sheet reconciliation 8. Revenue recognition

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Interview questions for Assistant Controller covering topics such as deferred revenue, accrued income, month-end closing activities, accumulated depreciation, payroll expenses, balance sheet reconciliation, and revenue recognition.

Deferred revenue is revenue received in advance for goods or services that have not yet been delivered or performed.
Accrued income is income earned but not yet received or recorded.
Month-end closing activities include reconciling accounts, preparing financial statements, and adjusting entries.
Accumulated depreciation is the total amount of depreciation expense recorded for an asset over its useful life.
Depreciation entry involves debiting the depreciation expense account and crediting the accumulated depreciation account.
Entry for payroll expenses with TDS deduction involves debiting the payroll expense account and crediting the TDS payable account.
Things to check during balance sheet reconciliation include ensuring all accounts are properly classified, reconciling account balances to supporting documentation, and identifying and resolving any discrepancies.
Revenue recognition involves recognizing revenue when it is earned and realizable, and when the risks and rewards of ownership have been transferred to the buyer.

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