Suguna Foods Executive Accountant Interview Questions, Process, and Tips

Accounts types refer to the classification of accounts based on their nature and purpose. Accounts definition is the explanation of what an account represents in financial transactions.

• Accounts Types: Assets, Liabilities, Equity, Revenue, Expenses

• Accounts Definition: An account is a record of financial transactions related to a particular item or category

• Examples: Cash (Asset), Accounts Payable (Liability), Retained Ea

Golden rules in accounts are basic principles that guide the recording of financial transactions.

• The three golden rules in accounts are: 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 debited because it is an inflow of cash. When cash is paid out, it is credited because it is an outflow of cash...read more

Yes, I am familiar with petty cash transactions.

• Petty cash transactions refer to small cash payments made for miscellaneous expenses.

• These transactions are typically recorded in a petty cash book or log.

• Examples of petty cash transactions include reimbursing employees for office supplies, paying for small repairs, or covering minor travel expenses.

• Proper documentation and reconciliation of petty cash transactions are e

We will manage all payments and staff records through a comprehensive accounting software system.

• Implementing an accounting software system to track and manage all payments and staff records

• Creating a centralized database to store and organize payment and staff information

• Establishing clear processes and procedures for recording and updating payment and staff records

• Regularly reconciling payment records with bank state...read more

Yes, I am familiar with petty cash transactions.

• Petty cash transactions refer to small cash payments made for miscellaneous expenses.

• These transactions are typically recorded in a petty cash book or log.

• Examples of petty cash transactions include purchasing office supplies, reimbursing employees for small expenses, or paying for minor repairs.

• Proper documentation and reconciliation of petty cash transactions are import

We will manage all payments and staff records through a comprehensive accounting system.

• Implementing an accounting software to track and manage payments

• Maintaining a centralized database for staff records

• Establishing clear processes and procedures for payment and record management

• Regularly reconciling payments and updating staff records

• Ensuring data security and confidentiality

• Providing training and support to staff fo