Infosys Junior Accountant Interview Questions, Process, and Tips

Golden rules are basic principles of accounting that guide the recording of financial transactions.

• There are three golden rules: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains.

• These rules ensure that every transaction is recorded accurately and consistently.

• For example, if a company receives cash from a customer, the cash account is de...read more

Account payable is the amount of money a company owes to its suppliers or vendors for goods or services received but not yet paid for.

• It is a liability on the company's balance sheet

• It represents the amount owed to suppliers or vendors

• It is recorded as a credit in the company's books

• Examples include unpaid invoices for raw materials, utilities, or rent

• It is important to manage and pay accounts payable on time to mainta

SAP and ERP are enterprise software solutions used for managing business operations and resources.

• SAP stands for Systems, Applications, and Products in Data Processing.

• ERP stands for Enterprise Resource Planning.

• Both SAP and ERP help in streamlining business processes, improving efficiency, and reducing costs.

• They provide a centralized database for managing various functions like finance, HR, inventory, and supply chai...read more

A blanket order is a purchase order that covers multiple deliveries over a period of time, usually for a fixed amount.

• It is a type of purchase order.

• It covers multiple deliveries over a period of time.

• It is usually for a fixed amount.

• It is commonly used for recurring orders of the same item.

• It simplifies the ordering process and reduces administrative costs.

• Example: A company may place a blanket order for office suppli...read more