EF Information Systems Executive Accountant Interview Questions and Answers

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Q1. What is Accounts payable
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Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.
• Accounts payable is a liability on the balance sheet

• It represents the amount of money owed by a company to its suppliers or vendors

• It is typically recorded when goods or services are received but payment has not yet been made

• Accounts payable is an important part of a company's working capital man
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Q2. What is Bank reconcilation statment
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Bank reconciliation statement is a document that compares the bank's records with the company's records to ensure they match.
• It is used to identify any discrepancies between the two sets of records.

• It includes items such as deposits in transit, outstanding checks, bank errors, and service charges.

• The goal is to ensure the accuracy of the company's financial records and the bank's records.

• Once discrepancies are identifi...read more
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Q1. Tell me about your self
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Q2. What is TDS with explain
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TDS stands for Tax Deducted at Source. It is a tax collection mechanism in India.
• TDS is a way of collecting tax at the source of income.

• It is applicable to various types of income such as salary, interest, rent, commission, etc.

• The person making the payment deducts a certain percentage of tax and deposits it with the government.

• The deducted amount is reflected in the Form 16/16A which is issued to the person receiving ...read more
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Q3. What is GST and GSt return
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GST is a value-added tax levied on goods and services in India. GST return is a document containing details of income, tax paid, and refund claimed.
• GST stands for Goods and Services Tax

• It is a single tax levied on the supply of goods and services

• It replaced multiple indirect taxes like VAT, excise duty, service tax, etc.

• GST return is a document filed by registered taxpayers containing details of their income, tax paid,...read more
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Q4. What is ERP with explain
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ERP stands for Enterprise Resource Planning. It is a software system that integrates all aspects of a business's operations.
• ERP helps businesses streamline their processes and improve efficiency

• It includes modules for finance, human resources, inventory management, and more

• Examples of ERP systems include SAP, Oracle, and Microsoft Dynamics

• ERP can be customized to fit the specific needs of a business

• It provides real-tim...read more
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Yes

On the subjective mode of applied for

On various aspects of business related topics

Nothing