VRL Automation Engineering & Projects Senior Accountant Interview Questions, Process, and Tips

The Golden rules of accounts are basic principles that guide the recording of financial transactions.

• There are three Golden rules of accounts: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit all expenses and losses, Credit all incomes and gains.

• These rules help maintain the balance in the accounting equation: Assets = Liabilities + Equity.

• For example, when a company receives cash ...read more

A journal voucher is a document used to record financial transactions in a company's general ledger.

• It is used to make adjustments or corrections to accounting records.

• It includes details such as the date of the transaction, accounts affected, amounts debited or credited, and a brief description.

• Journal vouchers are typically prepared by accountants or financial professionals.

• Examples of journal vouchers include adjust...read more

TDS stands for Tax Deducted at Source, which is a tax collection method where a certain percentage of tax is deducted by the payer at the time of making payment.

• TDS is deducted by the payer at the time of making certain payments like salary, rent, commission, etc.

• The deducted TDS amount is then deposited with the government on behalf of the payee.

• TDS rates vary depending on the nature of payment and the applicable tax ...read more

Vlookup searches for a value in the first column of a table and returns a value in the same row from a specified column. Hlookup does the same but searches in the first row.

• Vlookup searches vertically in a table, while Hlookup searches horizontally.

• Vlookup is used to find data in a column, while Hlookup is used to find data in a row.

• Vlookup is more commonly used than Hlookup in Excel.

• Example: Vlookup(A2, B1:D10, 3, FAL...read more

A macro in Excel is a set of instructions that automate tasks by recording a sequence of actions.

• Macros can be created by recording a series of actions or by writing code in the Visual Basic for Applications (VBA) editor.

• They can be used to automate repetitive tasks, such as formatting data, generating reports, or performing calculations.

• Macros can be assigned to buttons or keyboard shortcuts for easy access.

• They can s...read more