SAURABH GAUR & CO Assistant Account Executive Interview Questions and Answers

Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.

• Accounts payable is a liability on the balance sheet

• It represents the amount of money owed by a company to its suppliers or vendors

• It is typically recorded when goods or services are received but payment has not yet been made

• Accounts payable is an important part of a company's working capital man

Bank reconciliation statement is a document that compares the bank's records with the company's records to ensure they match.

• It is used to identify any discrepancies between the two sets of records.

• It includes items such as deposits in transit, outstanding checks, bank errors, and service charges.

• The goal is to ensure the accuracy of the company's financial records and the bank's records.

• Once discrepancies are identifi...read more