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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...
posted on 31 May 2024
I applied via Referral and was interviewed before May 2023. There were 3 interview rounds.
Yes, golden rules are basic principles of accounting that guide the preparation of financial statements.
Golden rules are the fundamental principles of accounting that help in recording financial transactions accurately.
There are three golden rules: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.
For example, when cash is received, it is...
20 marks will be for math questions.
20 marks will for grammar.
20 marks will be for logical questions.
20 marks will be for email writing.
20 marks will be for excel
Double entry is a fundamental accounting concept where every transaction has equal and opposite effects on at least two accounts.
Every transaction involves at least two accounts - one account is debited and the other is credited.
Debits must equal credits in every transaction to maintain the accounting equation (Assets = Liabilities + Equity).
Double entry ensures accuracy and helps in detecting errors in financial recor...
The 3 golden rules of accounting are principles that guide the preparation of financial statements.
1. The revenue recognition principle - recognize revenue when it is earned, not when cash is received.
2. The matching principle - expenses should be matched with revenues in the period they are incurred.
3. The consistency principle - use the same accounting methods and procedures from period to period.
Accounts receivable is the money owed to a company by its customers for goods or services provided on credit.
Accounts receivable represents the amount of money owed to a company by its customers for goods or services provided on credit.
It is considered an asset on the company's balance sheet.
Accounts receivable is typically collected within a certain period of time, often 30, 60, or 90 days.
Examples include invoices se...
Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.
Accounts payable represents a company's short-term debt obligations to its suppliers.
It is listed as a liability on the company's balance sheet.
Accounts payable is typically paid within a certain period, often 30, 60, or 90 days.
Examples of accounts payable include invoices from suppliers for inv...
Depreciation is the allocation of the cost of a tangible asset over its useful life.
Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.
It is used to spread the cost of an asset over its useful life for accounting and tax purposes.
Common methods of calculating depreciation include straight-line, double declining balance, and units of production.
Examples of depreciable assets inc...
A supplier is a person or company that provides goods or services to another entity.
Suppliers play a crucial role in the supply chain of a business.
They can provide raw materials, components, or finished products.
Examples of suppliers include manufacturers, wholesalers, and distributors.
Maintaining good relationships with suppliers is important for business success.
posted on 18 Jun 2023
I applied via Referral
Physiological test it's very useful how to handle teams and work
posted on 21 Aug 2022
60 minutes Section are Logical, English, visual
Accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions.
Basic principles of accounting include the accounting equation, double-entry accounting, and the accrual basis of accounting.
The accounting equation states that assets must equal liabilities plus equity.
Double-entry accounting requires that every transaction have...
I applied via Naukri.com and was interviewed before Nov 2021. There were 4 interview rounds.
General questions about accounting practices, audit and tax.
posted on 27 Jun 2022
I applied via Walk-in and was interviewed before Jun 2021. There were 2 interview rounds.
It's normal aptitude test and then everyone get into next round
I applied via Naukri.com and was interviewed in Nov 2020. There was 1 interview round.
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
posted on 27 Jun 2022
I applied via Recruitment Consulltant and was interviewed before Jun 2021. There were 2 interview rounds.
Check of your mental status
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