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posted on 27 Oct 2023
A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time.
It shows the company's assets, liabilities, and shareholders' equity.
Assets include cash, accounts receivable, inventory, and property.
Liabilities include loans, accounts payable, and accrued expenses.
Shareholders' equity represents the company's net worth.
The balance sheet follows the formula...
The golden rules of Accounts are basic principles that guide the recording of financial transactions.
The first golden rule is the Personal Account rule, which states that debit the receiver and credit the giver.
The second golden rule is the Real Account rule, which states that debit what comes in and credit what goes out.
The third golden rule is the Nominal Account rule, which states that debit all expenses and losses
Types of accounts include assets, liabilities, equity, revenue, and expenses.
Assets: Resources owned by a company, such as cash, inventory, and property.
Liabilities: Debts or obligations owed by a company, such as loans and accounts payable.
Equity: Represents the owner's interest in the company's assets after deducting liabilities.
Revenue: Income generated from the sale of goods or services.
Expenses: Costs incurred in ...
I applied via Campus Placement
The basic concept in accounting is the double-entry system, which involves recording every transaction in two accounts: debit and credit.
Double-entry system is the foundation of accounting
Every transaction is recorded in two accounts: debit and credit
Debit refers to the left side of an account and credit refers to the right side
Debit and credit must always balance
Examples: recording a sale, paying rent, receiving payme
Accrual concept is a method of accounting where revenues and expenses are recognized when earned or incurred, regardless of when payment is received or made.
Revenue is recognized when it is earned, not when payment is received
Expenses are recognized when they are incurred, not when payment is made
Accrual accounting provides a more accurate picture of a company's financial health
Example: A company provides services to a...
The three golden rules of accounting are the basis of recording financial transactions accurately.
The first rule is the Personal Account, which deals with transactions related to individuals or organizations.
The second rule is the Real Account, which deals with transactions related to assets, liabilities, and capital.
The third rule is the Nominal Account, which deals with transactions related to expenses, incomes, gain...
I applied via Walk-in and was interviewed in May 2022. There were 2 interview rounds.
posted on 15 Jan 2024
I applied via AmbitionBox and was interviewed in Jan 2022. There were 2 interview rounds.
I applied via Company Website and was interviewed in Sep 2021. There was 1 interview round.
I applied via Walk-in and was interviewed in Dec 2021. There was 1 interview round.
I applied via Recruitment Consultant and was interviewed in Dec 2021. There was 1 interview round.
I applied via Naukri.com and was interviewed in Jan 2022. There were 2 interview rounds.
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based on 1 interview
Interview experience
Pharmacist
5
salaries
| ₹1.5 L/yr - ₹4 L/yr |
Wipro
Sun Pharmaceutical Industries
Aurobindo Pharma
IQVIA