Branch Commercial Officer Interview Questions and Answers

The main rules of accounting are the principles and guidelines that govern the preparation and presentation of financial statements.

• The principle of consistency

• The principle of relevance

• The principle of materiality

• The principle of conservatism

• The principle of objectivity

• The principle of full disclosure

• The principle of going concern

• The principle of matching

• The principle of cost

• The principle of dual aspect

• The principle of time period

Reconciliation is the process of comparing two sets of records to ensure they are accurate and in agreement.

• It involves identifying and resolving discrepancies between the two sets of records.

• Reconciliation is commonly used in accounting to ensure that financial statements are accurate.

• Examples of reconciliation include bank statement reconciliation, inventory reconciliation, and account reconciliation.

• The process of reconciliation can be done manually or through automated so...read more