General Ledger Analyst Interview Questions and Answers

Accruals are expenses incurred but not yet paid or revenues earned but not yet received.

• Accruals are used to match expenses and revenues to the period in which they are incurred or earned.

• They are recorded as adjusting entries in the accounting records.

• Examples include accrued salaries, accrued interest, and accrued taxes.

• Accruals help provide a more accurate representation of a company's financial position.

• Accruals are necessary for accrual accounting, which is required for ...read more

Items in BS include cash, accounts receivable, inventory, property, plant, and equipment, accounts payable, long-term debt, and equity.

• Cash

• Accounts receivable

• Inventory

• Property, plant, and equipment

• Accounts payable

• Long-term debt

• Equity