Creative Hands HR Consultancy Junior Accountant Interview Questions and Answers

There are several types of accounting, including financial accounting, management accounting, and tax accounting.

• Financial accounting focuses on recording and reporting financial transactions of a company.

• Management accounting involves analyzing financial data to help with decision-making and planning.

• Tax accounting deals with preparing and filing tax returns for individuals and businesses.

• Other types include forensic

Working capital is the measure of a company's liquidity and operational efficiency.

• Working capital is the difference between a company's current assets and current liabilities.

• It represents the funds available to a company for day-to-day operations.

• Positive working capital indicates a company's ability to meet short-term obligations.

• Negative working capital suggests a company may struggle to pay off its current liabili...read more

I have worked on QuickBooks, Xero, and SAP. I prefer QuickBooks for its user-friendly interface and comprehensive features.

• I have experience using QuickBooks, Xero, and SAP accounting platforms.

• QuickBooks is my preferred platform due to its user-friendly interface and comprehensive features.

• Xero is also a good platform, but I find it less intuitive than QuickBooks.

• SAP is a powerful platform, but it is more suitable for...read more

TDS stands for Tax Deducted at Source. It is a tax collection mechanism in India.

• TDS is deducted by the payer while making certain payments like salary, rent, interest, etc.

• It is deducted at a specified rate and deposited with the government.

• TDS is reflected in the balance sheet as a liability under the head 'TDS Payable'.

• The amount of TDS deducted is shown as a reduction in the respective expense or income in the prof...read more