Offshore Accounting & Taxation Services Executive Accountant Interview Questions and Answers

It was taken to test my theoretical domain knowledge

Q1. Three Basic Accounting Principals
Add your answer
Q2. What is Depreciation and Methods to Calculate Depreciation
Ans. 
Depreciation is the allocation of the cost of an asset over its useful life. Methods include straight-line, double declining balance, and units of production.
• Depreciation is a non-cash expense that reduces the value of an asset over time

• Straight-line method evenly spreads the cost of the asset over its useful life

• Double declining balance method accelerates depreciation in the early years of an asset's life

• Units of prod...read more
Answered by AI
Add your answer
Q3. What are Accounting Standards and Conventions
Ans. 
Accounting Standards and Conventions are guidelines and principles that govern the preparation and presentation of financial statements.
• Accounting Standards are rules and regulations set by accounting bodies to ensure consistency and transparency in financial reporting.

• Accounting Conventions are traditions and practices followed by accountants over time.

• Examples of Accounting Standards include IFRS (International Finan...read more
Answered by AI
Add your answer

Topic Discussion on Artificial intelligence

Preparation of ledger to balance sheet

Q1. Journal entries
Add your answer
Q2. Accounting Basics
Add your answer

Q1. About company, previous Experience
Add your answer
Q2. Journal entries
Add your answer

Q1. Normal introduction
Add your answer
Q2. Salary Discussion
Add your answer

Q1. TELL ME ABOUT YOURSELF
Add your answer
Q2. ARE YOU COMFORTABLE WITH WAZIRPUR LOCATION
Add your answer
Q3. WHAT ARE THE 3 GOLDEN RULES OF ACCOUNTING
Ans. 
The 3 golden rules of accounting are the basic principles that guide the recording of financial transactions.
• The first golden rule is the Personal Account rule, which states that 'Debit the receiver, credit the giver'. For example, when a customer pays cash for goods purchased, the cash account is debited and the sales account is credited.

• The second golden rule is the Real Account rule, which states that 'Debit what co...read more
Answered by AI
Add your answer

Q1. WHAT IS BOOK KEEPING
Ans. 
Bookkeeping is the process of recording, organizing, and maintaining financial transactions of a business.
• Bookkeeping involves recording all financial transactions, such as sales, purchases, and expenses.

• It helps in organizing and categorizing financial data for easy analysis and reporting.

• Bookkeeping ensures accuracy and completeness of financial records.

• It involves tasks like maintaining ledgers, reconciling accounts...read more
Answered by AI
Add your answer
Q2. Where do you live
Add your answer

Q1. Tell me about your self
Add your answer

Q1. Why do you want to change ? notice period? current salary? expectation?
Add your answer

Q1. Sales entry and asset sale entry ,
Add your answer

Accounts, costing, basic tax and Reasoning

Q1. Questions on basic accounting in depth
Add your answer

Q1. Over view of fund accounting and accounts questions
Add your answer