Russell Tobin Senior Accountant Interview Questions and Answers

Q1. Tell me how many people are working in your company, why do I want to know about the company I work for?
Ans. 
There are 50 employees working in our company. Knowing about the company helps in understanding the work culture and team dynamics.
• Knowing the size of the company gives an idea of the scale of operations

• Understanding the company structure and hierarchy can help in knowing the reporting relationships

• Knowing the team size can give insights into the work environment and collaboration opportunities
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Q2. If you do a job anywhere, you should be a good prospect in any company
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Q3. Can you tell me what kind of work you expect from me
Ans. 
I expect you to handle all aspects of accounting using Tally software efficiently and accurately.
• Managing accounts payable and receivable

• Preparing financial statements

• Reconciling bank statements

• Generating various reports for management

• Ensuring compliance with tax regulations

• Providing financial analysis and recommendations
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Q1. What are different types of accounting ?
Ans. 
There are several types of accounting, including financial accounting, management accounting, and tax accounting.
• Financial accounting focuses on recording and reporting financial transactions of a company.

• Management accounting involves analyzing financial data to help with decision-making and planning.

• Tax accounting deals with preparing and filing tax returns for individuals and businesses.

• Other types include forensic
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Q2. What is working capital ?
Ans. 
Working capital is the measure of a company's liquidity and operational efficiency.
• Working capital is the difference between a company's current assets and current liabilities.

• It represents the funds available to a company for day-to-day operations.

• Positive working capital indicates a company's ability to meet short-term obligations.

• Negative working capital suggests a company may struggle to pay off its current liabili...read more
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Q3. Which accounting platform have you worked on ? which one do you prefer the most ?
Ans. 
I have worked on QuickBooks, Xero, and SAP. I prefer QuickBooks for its user-friendly interface and comprehensive features.
• I have experience using QuickBooks, Xero, and SAP accounting platforms.

• QuickBooks is my preferred platform due to its user-friendly interface and comprehensive features.

• Xero is also a good platform, but I find it less intuitive than QuickBooks.

• SAP is a powerful platform, but it is more suitable for...read more
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Q4. What is TDS? where do you show TDS in balance sheet ?
Ans. 
TDS stands for Tax Deducted at Source. It is a tax collection mechanism in India.
• TDS is deducted by the payer while making certain payments like salary, rent, interest, etc.

• It is deducted at a specified rate and deposited with the government.

• TDS is reflected in the balance sheet as a liability under the head 'TDS Payable'.

• The amount of TDS deducted is shown as a reduction in the respective expense or income in the prof...read more
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Q1. Accounting and Data Entry .
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