S&P Global Trainee Interview Questions and Answers

The golden rule of accounting states that debits must equal credits in every financial transaction.

• The golden rule of accounting is also known as the double-entry accounting system.

• It ensures that the accounting equation (Assets = Liabilities + Equity) remains balanced.

• Debits increase assets and expenses, while credits increase liabilities, revenues, and equity.

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

The types of financial statements include income statement, balance sheet, cash flow statement, and statement of changes in equity.

• Income statement: Shows a company's revenues and expenses over a specific period of time.

• Balance sheet: Provides a snapshot of a company's financial position at a specific point in time, including assets, liabilities, and equity.

• Cash flow statement: Details the cash inflows and outflows of ...read more