Vision Multispecialty Hospital Accountant Interview Questions and Answers for Experienced

A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time.

• It shows the company's assets, liabilities, and shareholders' equity.

• Assets include cash, accounts receivable, inventory, and property.

• Liabilities include loans, accounts payable, and accrued expenses.

• Shareholders' equity represents the company's net worth.

• The balance sheet follows the formula...read more

The golden rules of Accounts are basic principles that guide the recording of financial transactions.

• The first golden rule is the Personal Account rule, which states that debit the receiver and credit the giver.

• The second golden rule is the Real Account rule, which states that debit what comes in and credit what goes out.

• The third golden rule is the Nominal Account rule, which states that debit all expenses and losses

Types of accounts include assets, liabilities, equity, revenue, and expenses.

• Assets: Resources owned by a company, such as cash, inventory, and property.

• Liabilities: Debts or obligations owed by a company, such as loans and accounts payable.

• Equity: Represents the owner's interest in the company's assets after deducting liabilities.

• Revenue: Income generated from the sale of goods or services.

• Expenses: Costs incurred in ...read more

I am a detail-oriented and organized Tally Accountant with strong analytical skills.

• I have experience in maintaining accurate financial records using Tally software

• I am proficient in preparing financial statements and reports

• I have a strong understanding of accounting principles and practices

• I am able to identify and resolve discrepancies in financial records

• I am a team player and able to work collaboratively with othe

Tally is an accounting software used for managing financial transactions and generating reports.

• Tally is used for bookkeeping, inventory management, payroll processing, and tax filing.

• It can generate various financial reports like balance sheet, profit and loss statement, and cash flow statement.

• Tally is widely used in India and other countries for small and medium-sized businesses.

• It has features like data security, m...read more

Vouchers are documents that provide evidence of a transaction.

• Vouchers are used to record financial transactions in accounting.

• They contain details such as the date, amount, and purpose of the transaction.

• Examples of vouchers include invoices, receipts, and purchase orders.

Tally has two types: Tally.ERP 9 and TallyPrime

• Tally.ERP 9 is the older version and has more features

• TallyPrime is the newer version and has a more modern interface

• Both versions are used for accounting and financial management

• TallyPrime has features like customizable reports and advanced search options

Vochars is not a commonly used term in accounting. It may be a misspelling of vouchers.

• The correct term is vouchers, which are documents that provide evidence of a transaction

• Vouchers can be used for various purposes such as recording expenses, making payments, or receiving payments

• They typically include information such as the date, amount, description, and account codes

• Vouchers can be in paper or electronic form

• Examp...read more