RealFoundations Accounting Associate 2 Interview Questions, Process, and Tips

Experienced accounting professional with a strong background in financial analysis and reporting.

• Over 5 years of experience in accounting roles

• Proficient in financial analysis and reporting

• Strong attention to detail and accuracy

• Excellent communication and interpersonal skills

• Bachelor's degree in Accounting from XYZ University

Payment made to creditors post a journal will be reflected on the liabilities side of the financial statement.

• Payments made to creditors are considered as liabilities for the company.

• These payments will be reflected on the balance sheet under the liabilities section.

• The balance sheet shows the company's financial position at a specific point in time.

• Examples of liabilities include accounts payable, loans, and accrued e

Depreciation is the allocation of the cost of tangible assets over their useful life, while amortization is the allocation of the cost of intangible assets over their useful life.

• Depreciation applies to tangible assets like buildings, machinery, and vehicles, while amortization applies to intangible assets like patents, copyrights, and trademarks.

• Depreciation is usually calculated using methods like straight-line or ac...read more

Accounts payable are amounts owed by a company to its suppliers for goods or services purchased on credit. Accounts receivable are amounts owed to a company by its customers for goods or services provided on credit.

• Accounts payable represent the money a company owes to its suppliers for goods or services received but not yet paid for.

• Accounts receivable represent the money owed to a company by its customers for goods o...read more

A bank reconciliation statement is a document that compares the balance in a company's bank account with the balance shown on the bank statement.

• It helps identify any discrepancies between the two balances, such as outstanding checks or deposits in transit.

• The statement typically includes adjustments for items like bank fees, interest earned, and errors.

• The goal is to ensure that the company's records accurately reflec...read more