Pierian Services Senior Executive - Finance Interview Questions and Answers

The sales life cycle involves prospecting, qualifying leads, presenting offers, closing deals, and providing post-sales support.

• Prospecting: Identifying potential customers and gathering information about their needs.

• Qualifying leads: Determining if the prospect is a good fit for the product or service.

• Presenting offers: Demonstrating how the product or service meets the prospect's needs.

• Closing deals: Finalizing the s...read more

The golden rules of accounting are basic principles that guide the process of recording financial transactions.

• The golden rules include: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains.

• These rules help ensure accurate and consistent recording of financial transactions.

• For example, when a company receives cash from a customer, the cash a...read more

TDS stands for Tax Deducted at Source. It is a tax collection method where a certain percentage of tax is deducted by the payer at the time of making payment to the payee.

• TDS is deducted by the payer and deposited with the government on behalf of the payee.

• It is applicable to various payments like salary, interest, commission, rent, etc.

• One section of TDS is Section 194C which deals with TDS on payments to contractors ...read more

Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business.

• Accounting involves recording financial transactions such as sales, purchases, and expenses.

• It includes summarizing the financial data into financial statements like balance sheets and income statements.

• Accounting also involves analyzing the financial information to provide insights for decision-making.

• Rep...read more

A journal is a detailed record of financial transactions in chronological order.

• A journal is used to record all financial transactions of a business.

• It includes the date, description, and amount of each transaction.

• Journals are typically organized by accounts, such as cash, accounts receivable, and accounts payable.

• The information recorded in a journal is later transferred to the general ledger for financial reporting.

• ...read more