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I applied via Recruitment Consulltant and was interviewed in Aug 2023. There was 1 interview round.
Sunk cost refers to the cost that has already been incurred and cannot be recovered.
Sunk cost is a past cost that is irrelevant to future decision-making.
It is important to ignore sunk costs when making decisions.
Examples of sunk costs include money spent on non-refundable tickets or investments that have already lost value.
The section that allows to deduct TDS on salaries is Section 192 of the Income Tax Act.
Section 192 of the Income Tax Act deals with the deduction of TDS on salaries.
This section specifies the rates at which TDS should be deducted from salaries.
Employers are required to deduct TDS from the salaries of their employees as per the provisions of this section.
The TDS deducted under Section 192 needs to be deposited with the ...
Sec 194Q refers to the provision under the Income Tax Act that requires buyers to deduct TDS on purchase of goods above a specified threshold.
Sec 194Q is a provision under the Income Tax Act of India.
It requires buyers to deduct tax at source (TDS) on purchase of goods.
The provision applies to buyers whose total turnover exceeds a specified threshold.
The threshold for applicability is INR 50 crores in the previous fina...
Asset monetization refers to the process of converting assets into cash or generating income from assets.
Asset monetization involves selling or leasing assets to generate revenue.
It can also involve using assets as collateral to secure loans or financing.
Examples of asset monetization include selling real estate properties, leasing out equipment, or licensing intellectual property.
Asset monetization can help organizati...
Activity Based Costing is a costing method that assigns costs to specific activities based on their consumption of resources.
It is a more accurate and detailed approach to cost allocation compared to traditional costing methods.
It identifies and assigns costs to activities that drive the consumption of resources.
It helps in understanding the cost drivers and their impact on the overall cost of products or services.
It p...
There are various GST returns that need to be filed at different intervals.
GSTR-1: Monthly return for outward supplies
GSTR-2A: Auto-populated return for inward supplies
GSTR-3B: Monthly summary return
GSTR-4: Quarterly return for composition dealers
GSTR-5: Monthly return for non-resident taxpayers
GSTR-6: Monthly return for input service distributors
GSTR-7: Monthly return for tax deducted at source
GSTR-8: Monthly return f...
Capital employed refers to the total amount of capital invested in a business.
Capital employed includes all the long-term and short-term funds invested in a business.
It is calculated by subtracting current liabilities from total assets.
Capital employed is an important metric for measuring a company's financial health and efficiency.
Examples of capital employed include investments in property, plant, and equipment, as w...
Income tax returns have specific due dates depending on the type of taxpayer.
Individual taxpayers must file their returns by April 15th of each year.
Businesses may have different due dates depending on their entity type and fiscal year.
Extensions may be granted in certain circumstances, but taxes owed must still be paid by the original due date.
Late filing penalties and interest may apply for returns filed after the du
Cost centers are used to track and allocate expenses. There are two types: production and service.
Cost centers help in identifying and tracking expenses incurred by a particular department or function.
Production cost centers are those that are directly involved in the production process, such as manufacturing or assembly.
Service cost centers are those that provide support services to production cost centers, such as ma...
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Yes, there are several advantages of being an accountant.
Stable and in-demand career
Opportunities for growth and advancement
Ability to work in various industries
High earning potential
Opportunity to work independently or as part of a team
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I applied via Referral and was interviewed in Jun 2018. There were 6 interview rounds.
I applied via Company Website and was interviewed in Oct 2020. There were 4 interview rounds.
I applied via Recruitment Consultant and was interviewed before Jun 2020. There were 6 interview rounds.
I applied via Naukri.com and was interviewed before Jul 2020. There was 1 interview round.
I applied via Campus Placement and was interviewed before May 2021. There were 2 interview rounds.
Accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions.
Classification of accounting includes financial accounting, management accounting, tax accounting, and auditing.
Financial accounting involves recording and reporting financial transactions for external stakeholders.
Management accounting involves providing financi...
I applied via Campus Placement and was interviewed before Dec 2019. There was 1 interview round.
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