Optum Global Solutions Senior General Ledger Accountant Interview Questions and Answers

Q1. What is bad bebt
Ans. 
Bad debt refers to money owed to a company that is unlikely to be paid by the debtor.
• Bad debt is a financial loss for the company.

• It is usually the result of customers who are unable or unwilling to pay their debts.

• Companies often have to write off bad debts as uncollectible.

• Bad debt can negatively impact a company's financial statements and cash flow.

• Examples include unpaid invoices, defaulted loans, and overdue payme
Answered by AI
Add your answer
Q2. What is accounts
Ans. 
Accounts refer to financial records that track the financial activities of a business or individual.
• Accounts are used to record transactions such as income, expenses, assets, and liabilities.

• They help in analyzing the financial health of an entity and making informed decisions.

• Examples of accounts include cash account, accounts receivable, accounts payable, and equity accounts.
Answered by AI
Add your answer

Q1. Self introduction
Add your answer
Q2. Why do you left your previous company
Add your answer

Q1. How many types of financial statements
Ans. 
There are three main types of financial statements: balance sheet, income statement, and cash flow statement.
• Balance sheet shows a company's assets, liabilities, and shareholders' equity at a specific point in time.

• Income statement shows a company's revenues, expenses, and profits over a period of time.

• Cash flow statement shows how changes in balance sheet and income statement affect cash and cash equivalents.
Answered by AI
View 1 more answer
Q2. Difference between trial balance and balance sheet
Ans. 
Trial balance is a list of all ledger accounts with their closing balances, while balance sheet is a financial statement showing assets, liabilities, and equity at a specific point in time.
• Trial balance is an internal document used to ensure the debits and credits are equal before preparing financial statements.

• Balance sheet is a financial statement that shows the company's financial position at a specific point in tim...read more
Answered by AI
View 1 more answer

Q1. Journal entry for prepaid expenses
Ans. 
Journal entry for prepaid expenses involves debiting an asset account and crediting a prepaid expense account.
• Prepaid expenses are expenses paid in advance but not yet incurred.

• To record prepaid expenses, debit the Prepaid Expense account and credit the Cash/Bank account.

• As the prepaid expense is incurred, it is transferred from the Prepaid Expense account to the Expense account.

• Example: Payment of insurance premium in...read more
Answered by AI
Add your answer
Q2. Journal entry for purchase return
Ans. 
Journal entry for purchase return involves debiting accounts payable and crediting inventory account.
• Debit accounts payable to reduce liability

• Credit inventory account to reduce inventory on hand

• Example: Debit Accounts Payable $500, Credit Inventory $500
Answered by AI
Add your answer

Q1. How was the interview
Add your answer
Q2. What qualifications u need for accountants
Add your answer

Discussion about accounts

Q1. Why u left your previous job ??
Add your answer
Q2. Salary expectation
Add your answer
Q3. What is Bank reconciliation
Ans. 
Bank reconciliation is the process of comparing and matching the balances in a company's accounting records with the balances on its bank statement.
• Bank reconciliation helps ensure the accuracy of a company's financial records.

• It involves comparing the transactions recorded in the company's books with those in the bank statement.

• Any discrepancies between the two balances are identified and resolved.

• Common reasons for d...read more
Answered by AI
View 1 more answer

Q1. Introduce your self and experience
Add your answer
Q2. Motivation for applying job
Add your answer

Q1. What is your strength
Add your answer

Q1. Why do you want to work here
Add your answer

Accounting related questions, financial statements and p and l Ifrs

Q1. With the team lead mostly accounting related questions
Add your answer
Q2. Intangible assets, effect of changes in forex ,asset accounting revenue accounting
Add your answer

Q1. What are document of in this job
Add your answer
Q2. Job location detail
Add your answer

Q1. How much package in this job
Add your answer
Q2. Timing of the job
Add your answer