Talent Formula Accountant Interview Questions and Answers

Q1. What do you understand by BRS
Ans. 
BRS stands for Bank Reconciliation Statement, which is a process of matching the balances in a company's accounting records with the corresponding information on a bank statement.
• BRS helps in identifying discrepancies between the company's records and the bank statement

• It ensures that all transactions are accurately recorded in the company's books

• Common reasons for discrepancies include outstanding checks, deposits in ...read more
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Q1. Can you tell me about yourself?
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Q2. Are you comfortable working night shifts?
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Q1. Golden rule of accounting?
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Q2. What are the journal entries for purchases?
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Q3. What is the process of bank reconciliation?
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Q1. What are your salary expectations?
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Q1. About your self
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Q2. Process Explanation of previous experience
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Q1. Journal Entries
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Q2. P2P, Bank Reconciliation, RTR
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Q3. Previous Process Explanation
Ans. 
I will explain the previous process I followed in my accounting role.
• I maintained accurate financial records by recording transactions in the general ledger.

• I prepared financial statements such as balance sheets and income statements.

• I reconciled bank statements and ensured all accounts were balanced.

• I communicated with clients and vendors to resolve any discrepancies or issues.

• I followed company policies and procedure
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Q1. What is accrual
Ans. 
Accrual refers to the recognition of revenue and expenses when they are incurred, regardless of when cash is exchanged.
• Accrual accounting matches revenues with expenses in the same accounting period

• It provides a more accurate representation of a company's financial position

• Examples include recognizing revenue when a service is performed, even if payment is not received yet
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Q2. What is golden rules
Ans. 
Golden rules are basic principles of accounting that serve as the foundation for recording financial transactions.
• Golden rules include the principles of Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; and Debit expenses and losses, Credit income and gains.

• These rules help ensure accurate and consistent recording of financial transactions in accounting.

• For example, when a business receiv...read more
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Q3. Prepaid expenses journal entry
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Q1. Tell me about yourself
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Q2. Tell me about your Work experience
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General to overall

Q1. What are your salary expectations?
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