Danube Accountant Interview Questions and Answers

Adjusting entries are accounting entries made at the end of an accounting period to update accounts and ensure accuracy of financial statements.

• Adjusting entries are made to ensure that the financial statements accurately reflect the company's financial position.

• They are made at the end of an accounting period and are used to update accounts that have not been recorded yet.

• Examples of adjusting entries include accruals...read more

Revenue recognition under IND AS 115

• Identify the contract with the customer

• Identify the performance obligations in the contract

• Determine the transaction price

• Allocate the transaction price to the performance obligations

• Recognize revenue when (or as) the entity satisfies a performance obligation

Yes, I have 10 years of experience in accounting and taxation.

• I have worked in various accounting roles for the past 10 years

• I have experience in tax preparation and filing for individuals and businesses

• I am knowledgeable in accounting software such as QuickBooks and Xero

• I have experience in financial reporting and analysis

• I am familiar with GAAP and tax laws and regulations