Navkar Consultancy Services Senior Accountant Interview Questions and Answers for Experienced

Knowledgeble aptitute test

Related to Accounting

Q1. Basic related to your self and your hobby
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Q1. Related to technical accounting principles. And information about acounting.
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Q1. What is your self tell me
Ans. 
I am a detail-oriented and organized Tally Accountant with strong analytical skills.
• I have experience in maintaining accurate financial records using Tally software

• I am proficient in preparing financial statements and reports

• I have a strong understanding of accounting principles and practices

• I am able to identify and resolve discrepancies in financial records

• I am a team player and able to work collaboratively with othe
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Q2. Tally what used
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Tally is an accounting software used for managing financial transactions and generating reports.
• Tally is used for bookkeeping, inventory management, payroll processing, and tax filing.

• It can generate various financial reports like balance sheet, profit and loss statement, and cash flow statement.

• Tally is widely used in India and other countries for small and medium-sized businesses.

• It has features like data security, m...read more
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Q1. What is vochars
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Vouchers are documents that provide evidence of a transaction.
• Vouchers are used to record financial transactions in accounting.

• They contain details such as the date, amount, and purpose of the transaction.

• Examples of vouchers include invoices, receipts, and purchase orders.
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Q2. Types of the tally
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Tally has two types: Tally.ERP 9 and TallyPrime
• Tally.ERP 9 is the older version and has more features

• TallyPrime is the newer version and has a more modern interface

• Both versions are used for accounting and financial management

• TallyPrime has features like customizable reports and advanced search options
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Q3. What is full form vochars
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Vochars is not a commonly used term in accounting. It may be a misspelling of vouchers.
• The correct term is vouchers, which are documents that provide evidence of a transaction

• Vouchers can be used for various purposes such as recording expenses, making payments, or receiving payments

• They typically include information such as the date, amount, description, and account codes

• Vouchers can be in paper or electronic form

• Examp...read more
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Q1. Tell me about yourself
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Experienced Senior Accountant with a strong background in financial analysis and reporting.
• Over 8 years of experience in accounting and finance

• Proficient in financial statement preparation and analysis

• Skilled in budgeting, forecasting, and variance analysis

• Strong knowledge of GAAP and regulatory compliance

• Previous experience in leading audit processes and managing financial projects
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Q1. There are three branches of accounting
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The three branches of accounting are financial accounting, management accounting, and cost accounting.
• Financial accounting focuses on reporting financial information to external stakeholders.

• Management accounting involves providing financial information to internal management for decision-making.

• Cost accounting deals with analyzing and controlling costs within a company.

• Each branch serves a different purpose and audien
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Q2. Types of accounting golden rules
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The accounting golden rules are basic principles that guide the process of recording financial transactions.
• There are three types of accounting golden rules: Personal Account, Real Account, and Nominal Account.

• Personal Account: Debit the receiver, credit the giver. Example: When cash is received from a customer, cash account is debited.

• Real Account: Debit what comes in, credit what goes out. Example: Purchase of machin...read more
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Q3. What is the balance sheet
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The balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time.
• It lists a company's assets, liabilities, and shareholders' equity.

• Assets are what the company owns, such as cash, inventory, and property.

• Liabilities are what the company owes, such as loans and accounts payable.

• Shareholders' equity represents the company's net worth, calculated as assets m...read more
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Q4. Trail Balance Definition
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business.
• It is used to ensure that the total debits equal the total credits in the accounting records.

• It is prepared at the end of an accounting period before the financial statements are prepared.

• Errors in recording or posting transactions can be identified by preparing a trial balance.

• Example: If the total debits and credits do ...read more
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Q5. What is the Working capital
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Working capital is the difference between a company's current assets and current liabilities.
• Working capital is a measure of a company's operational efficiency and short-term financial health.

• It represents the amount of liquid assets available to a company to fund its day-to-day operations.

• Formula: Working Capital = Current Assets - Current Liabilities

• Positive working capital indicates that a company has enough assets ...read more
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Q6. Defin depreciation and it types
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Depreciation is the allocation of the cost of an asset over its useful life.
• Depreciation is a non-cash expense that reduces the value of an asset over time.

• Types of depreciation include straight-line, double declining balance, units of production, and sum-of-the-years-digits.

• Straight-line depreciation evenly spreads the cost of an asset over its useful life.

• Double declining balance front-loads depreciation expenses.

• Uni...read more
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