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Depreciation is the allocation of the cost of a tangible asset over its useful life.
Depreciation is a non-cash expense that reduces the value of an asset over time.
It is used to reflect the wear and tear, obsolescence, or decrease in value of an asset.
Common methods of depreciation include straight-line, double declining balance, and units of production.
Example: A company purchases a delivery truck for $50,000 and expe...
Amortization is the process of spreading out the cost of an intangible asset over its useful life.
Amortization is similar to depreciation, but is used for intangible assets like patents, copyrights, and trademarks.
It helps allocate the cost of the asset over its useful life, reflecting its gradual consumption or expiration.
Amortization expense is recorded on the income statement and reduces the asset's carrying value o...
A journal entry for prepayment involves recording the payment made in advance for goods or services.
Identify the prepayment amount and the corresponding expense account
Debit the Prepaid Expense account and credit the Cash or Bank account
Recognize the expense over time as the goods or services are consumed
Adjust the Prepaid Expense account and recognize the expense in the Income Statement
I applied via Referral and was interviewed in Sep 2023. There were 3 interview rounds.
Irrelevant case study and rounds pricess
I applied via LinkedIn and was interviewed in Aug 2023. There were 2 interview rounds.
I applied via Recruitment Consulltant and was interviewed in Nov 2021. There were 4 interview rounds.
The onboarding process involves several steps to ensure a smooth transition for new hires.
Provide new hires with an orientation to the company and its culture
Complete necessary paperwork and background checks
Assign a mentor or buddy to help new hires acclimate to their role
Provide training and development opportunities
Regularly check in with new hires to ensure their success
Evaluate the effectiveness of the onboarding
I applied via Approached by Company and was interviewed in Nov 2021. There were 2 interview rounds.
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