Valeo Executive Accountant Interview Questions and Answers

Need to write accounting Entries

Q1. Finance controller will ask technical questions
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Q2. What is prepayment and what is Accrual
Ans. 
Prepayment is payment made in advance for goods or services, while accrual is recording revenues and expenses when they are incurred, regardless of when cash is exchanged.
• Prepayment involves paying for goods or services before receiving them

• Accrual involves recognizing revenues and expenses when they are incurred, not when cash is exchanged

• Prepayment is recorded as an asset on the balance sheet until the goods or servi...read more
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Q3. What is BRS what is Financial Statement
Ans. 
BRS stands for Bank Reconciliation Statement, which is a statement prepared to reconcile the balance as per bank statement with the balance as per company's books. Financial statements are reports that show the financial performance and position of a company.
• BRS is prepared to ensure that the company's records match the bank's records

• It helps in identifying any discrepancies or errors in recording transactions

• Financial...read more
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Q1. Formal question
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