Sejal Insurance Broking Executive Accountant Interview Questions and Answers for Experienced

Impairment loss is a reduction in the value of an asset, provision is an estimate of a liability, depreciation is the allocation of an asset's cost over its useful life, investment banking deals with raising capital and financial products are instruments used for investment and risk management.

• Impairment loss occurs when the carrying value of an asset exceeds its recoverable amount.

• Journal entry for provision involves ...read more

Convincing a client to adopt a new accounting software

• Explained the benefits of the new software in terms of time and cost savings

• Provided a demonstration of the software's features and ease of use

• Addressed any concerns or objections raised by the client

• Offered a trial period for the client to test the software before making a decision

The golden rule of accounting is to record every financial transaction in a systematic and accurate manner.

• All financial transactions must be recorded

• Accuracy is key in accounting

• Transactions must be recorded systematically

• The golden rule is the foundation of accounting

• Helps maintain transparency and accountability

• Examples include recording sales, expenses, and assets