Junior Accountant and Assistant

Junior Accountant and Assistant Interview Questions and Answers

Updated 1 Oct 2023

Q1. Do you know about GST filling and TDS return?

Ans.

Yes, I am familiar with GST filing and TDS return.

  • GST filing is the process of submitting tax returns under the Goods and Services Tax (GST) regime.

  • TDS return is the statement that summarizes the details of tax deducted at source by an individual or entity.

  • I have experience in preparing and filing GST returns and TDS returns for clients.

  • I am aware of the different forms and due dates for GST and TDS returns.

  • I keep myself updated with the latest changes and amendments in GST a...read more

Q2. Difference between cash book and BRS

Ans.

Cash book records all cash transactions, while BRS reconciles bank statement with cash book.

  • Cash book records all cash receipts and payments made by the company.

  • BRS (Bank Reconciliation Statement) is prepared to reconcile the bank statement with the cash book.

  • Discrepancies between the cash book and bank statement are identified and resolved through BRS.

  • Cash book is maintained by the company, while BRS is prepared by the accountant to ensure accuracy.

  • Example: If a check issued...read more

Q3. Rules of accountant

Ans.

Rules of accounting are principles and guidelines that companies must follow when preparing financial statements.

  • Accounting equation must always be in balance: Assets = Liabilities + Equity

  • Revenue recognition principle: Revenue should be recorded when it is earned, not when cash is received

  • Matching principle: Expenses should be recorded in the same period as the revenue they helped generate

  • Conservatism principle: When in doubt, choose the option that will result in lower prof...read more

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