Jio Branch Accountant Interview Questions and Answers

Reconciling 3b involves comparing financial records to ensure accuracy and consistency.

• Review all transactions related to 3b in the financial statements

• Check for any discrepancies or errors in the records

• Ensure that all entries are properly classified and accounted for

• Compare the 3b balance to supporting documentation or previous periods for consistency

Returns reconciliation involves comparing sales records with returned items to ensure accuracy.

• Compare sales records with return records to identify discrepancies

• Investigate reasons for returns and ensure proper documentation

• Adjust inventory and financial records accordingly

• Communicate with customers and vendors to resolve any issues

• Use accounting software to streamline the reconciliation process

Capitalization of asset, lease accounting under IND AS, depreciation and amortization, and golden rules of accounting.

• Capitalization of asset refers to the process of recording an expenditure as an asset rather than an expense.

• Lease accounting under IND AS requires lessees to recognize lease assets and liabilities on their balance sheets.

• Depreciation is the systematic allocation of the cost of a tangible asset over its...read more