Signet Chemical Corporation Executive Accountant Interview Questions and Answers

Golden rules of Accounts are basic principles to record financial transactions accurately.

• Debit what comes in, credit what goes out

• Debit the receiver, credit the giver

• Debit expenses and losses, credit income and gains

Excel formulas commonly used in accounting include SUM, VLOOKUP, IF, and CONCATENATE.

• SUM: Adds up a range of cells

• VLOOKUP: Searches for a value in the first column of a table and returns a value in the same row from another column

• IF: Performs a logical test and returns one value if the test is true and another if it's false

• CONCATENATE: Joins two or more text strings into one

Product costing in SAP HANA involves determining the cost of producing a product or service.

• SAP HANA provides real-time data for accurate product costing

• It considers direct and indirect costs such as materials, labor, and overhead

• Allows for cost analysis and optimization

• Enables tracking of cost variances and profitability analysis

• Integration with other SAP modules such as production planning and sales and distribution

• E...read more

TDS stands for Tax Deducted at Source, which is a system where tax is deducted by the payer at the time of making payment.

• TDS is applicable on various types of payments such as salary, interest, rent, commission, etc.

• The deducted TDS amount is then deposited with the government on behalf of the payee.

• TDS rates vary depending on the type of payment and the tax status of the payee.

• TDS certificates like Form 16 and Form 1...read more