Targetorate Consulting Senior Accounts Manager Interview Questions and Answers

Q1. About previous work experience
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Q1. Not much .. process of recon and fund accounting
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Q1. What is accrual and it's entry
Ans. 
Accrual is an accounting method where revenue or expenses are recognized when earned or incurred, regardless of when payment is received or made.
• Accrual accounting is the opposite of cash accounting

• Accruals are recorded as adjusting entries in the general ledger

• Examples of accruals include interest expense, salaries payable, and accounts receivable

• The entry for an accrual involves debiting an expense account and credit
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Q2. What is contingency liability
Ans. 
Contingency liability is a potential liability that may occur in the future based on certain events or circumstances.
• It is a liability that is not certain but may occur in the future

• It is based on certain events or circumstances

• Examples include lawsuits, warranties, and environmental cleanup costs
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Q1. Tell me about yourself.
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