Croma Executive Accountant Interview Questions and Answers

Profit and loss account shows the company's revenues and expenses over a period, while the statement of financial position shows the company's assets, liabilities, and equity at a specific point in time.

• Profit and loss account summarizes the company's revenues and expenses, resulting in the net profit or loss for a specific period.

• Statement of financial position (balance sheet) shows the company's assets, liabilities, ...read more

I chose accounts because of my passion for numbers and problem-solving.

• I have always been good with numbers and enjoy working with financial data

• I find satisfaction in solving complex financial puzzles and analyzing trends

• I believe that a strong foundation in accounting is essential for any business or organization

• I enjoy the challenge of balancing budgets and optimizing financial performance

Golden accounts refer to high-value accounts that are considered prestigious or important within a company's financial records.

• Golden accounts typically include accounts with large balances, significant transactions, or high-profile clients.

• These accounts may require special attention from the executive accountant due to their importance to the company.

• Examples of golden accounts could include accounts held by major in

Petty cash is a small amount of cash kept on hand for minor expenses.

• Petty cash is used for small, everyday expenses that are impractical to pay for with a check or credit card.

• It is typically kept in a secure location, such as a locked box or drawer.

• A designated person is responsible for managing and replenishing the petty cash fund.

• Examples of petty cash expenses include office supplies, postage, and minor repairs.