Sand Martin Consultants Interview Questions, Process, and Tips

I identified a discrepancy in inventory valuation and resolved it by conducting a thorough reconciliation process.

• Identified the discrepancy during a routine audit of inventory records

• Conducted a detailed analysis of purchase orders, sales records, and physical inventory counts

• Discovered a misallocation of costs leading to the discrepancy

• Implemented new controls to ensure accurate recording of inventory costs

• Regularly ...read more

Stay current with changes in accounting regulations and standards

• Regularly attend accounting seminars and conferences

• Subscribe to accounting journals and newsletters

• Participate in online webinars and courses

• Network with other accounting professionals to discuss updates

• Encourage team members to pursue continuing education and certifications

BRS is Bank Reconciliation Statement, PREPAID is an expense paid in advance, ACCRUED is an expense incurred but not yet paid.

• BRS is a statement that compares the bank balance in the company's records with the bank statement

• PREPAID expenses are recorded as assets until they are used or expire

• ACCURED expenses are recorded as liabilities until they are paid

• Examples of PREPAID expenses include rent paid in advance, insuran...read more