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R2r general accounting Interview Questions

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Accenture
R2R, General Accounting was asked...1 October 2015

what is Accrual ?

3 Answers

Some of amount due to receive but not yet received is called accrual

Accrual is an accounting concept in which the business should record all the transactions when it actually occurs but not when actual cash is flowing. Less

accrual means the revenue/liability should be recognized and recorded in monetary terms once the services are rendered OR goods are delivered and not when the actual cash is received. Less

Accenture

what is entry for credit purchase ?

3 Answers

Purchase a/c dr Input Gst a/c Dr To Accounts payable a/c

Purchase account Dr To accounts payable Cr

purchases account debit Creditor(s) Credit

Accenture

what is balance sheet ?

2 Answers

Its a Combination of all assets and liabilities of organization which is carry forward to next financial year. and its express the financial position of a company. Less

Balance sheet is a Point Statement that lists the assets and liabilities of an organisation as on a particular date. Less

Koch Industries

About the experience, general accounting questions and scenario based questions

1 Answers

Answer well

Accenture

What are preliminary expenses ?

1 Answers

these are the expenses which are incurred prior to the incorporation of the organisation. these are incurred to bring the organisation into existence. for example cost of registration of company etc. these expenses are capitalized. Less

Accenture

what is profit and loss account ?

1 Answers

Profit and loss account is periodic statement that shows Profit/loss of an organisation during a particular period. All the nominal accounts are closed by transferring in the P/L account. Less

Accenture

various journal entries ?

1 Answers

(1) loss of goods in transit/fire loss by fire ....debit purchases account ...credit (2) drawings of goods made for personal use drawings account ... dr to purchases account (3) drawing of the cash for personal use drawings accounts dr to cash account (4) depreciation Depreciation account ....dr to provision for depreciation account (5) income accrued: income accrued account dr .. to income (6) liability accrued: liability account dr. to liability accrued account Less

Accenture

golden rules of accounting?

1 Answers

(1) for personal- debit the reciever and credit the giver (2) for real accounts- debit what comes in and credit what goes out (3) for nominal accounts- debit the all expenses and lossess and credit all gains and profit. Less

Accenture

Manager round Questions. 1. What is Debtor Reconciliation? 2. What is BRS? 3. What is Accrual? 3-4 situations given by interviewer related to that. 4. Why BRS is prepared? and so on dont know some questions exactly beyond that they want to know other things like Interviewer asked me suppose in your team, your perspective is different related to a particular work and your team mate has different opinion then how will you mitigate this. Suppose you are wrong on that particular thing then, if your team mate is wrong then.. etc etc . Best of luck for your interview.

1 Answers

Which type of situational questions they ask? Please explain one.

Accenture

Depreciation

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