S.A.Associates Interview Questions and Answers

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Q1. Tell your self introduction
Ans. Hi sir, Good morning, Myself gudditi Siva Sankar varaprasad, I have completed my graduation in dec 2021 and commenced my career in sa associates and co-charted accountants in Jan 2022 .an audit firm my work experience includes day to day Accounting of bank transactions and preparation of Financial Statements to various clients mainly for private Ltd companies. Iam from puttarthi district, dharmavaram. My father is a fa
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Q2. What is accounting cycle?
Ans. 
The accounting cycle is a series of steps that businesses take to record financial transactions and prepare financial statements.
• The accounting cycle typically includes steps such as analyzing transactions, journalizing, posting to the general ledger, preparing a trial balance, adjusting entries, preparing financial statements, closing entries, and preparing a post-closing trial balance.

• Each step in the accounting cycl...read more
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Q3. What is a accounting?
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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 also includes summarizing these transactions into financial statements like balance sheets and income statements.

• Analyzing financial data to provide insights for decision-making is another key aspect of accountin...read more
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Q4. What is a balance sheet of the financial statements?
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A balance sheet is a financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.
• It provides a snapshot of a company's financial position.

• Assets are listed on the left side, while liabilities and equity are on the right side.

• The balance sheet follows the accounting equation: Assets = Liabilities + Shareholders' Equity.

• It helps investors and analysts assess the fi...read more
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