ಅಕೌಂಟಿಂಗ್ ಕಲಿತಿದ್ದೀರಾ? ಉದ್ಯೋಗ ಸಂದರ್ಶನದಲ್ಲಿ ಈ ಪ್ರಶ್ನೆಗಳನ್ನು ಖಂಡಿತಾ ಕೇಳ್ತಾರೆ!

ಕ್ಯಾಡ್‌ನೆಸ್ಟ್‌ ವಿದ್ಯಾರ್ಥಿಗಳು ಅಕೌಂಟಿಂಗ್‌ಗೆ ಸಂಬಂಧಪಟ್ಟ ವಿವಿಧ ಕೋರ್ಸ್‌ಗಳನ್ನು ನಮ್ಮಲ್ಲಿ ಕಲಿತಿರಬಹುದು. ಜಿಎಸ್‌ಟಿ, ಟ್ಯಾಲಿ ಇತ್ಯಾದಿ ಕೋರ್ಸ್‌ಗಳನ್ನು ಕಲಿತಿರಬಹುದು. ನೀವು ಅಕೌಂಟಿಂಗ್ ಕ್ಷೇತ್ರದ ವಿವಿಧ ಹುದ್ದೆಗಳಿಗೆ ಅರ್ಜಿ ಸಲ್ಲಿಸಿದ ಬಳಿಕ ಸಂದರ್ಶನಕ್ಕೆ ಕರೆ ಬಂದರೆ ಈ ಮುಂದಿನ ಪ್ರಶ್ನೆಗಳಿಗೆ ಉತ್ತರಿಲು ಸಿದ್ಧರಾಗಿರಿ.

ಅಕೌಂಟಿಂಗ್‌, ಟ್ಯಾಲಿ ಜಿಎಸ್‌ಟಿ ಪ್ರೈಮ್‌ ಸೇರಿದಂತೆ ವಿವಿಧ ಅಕೌಂಟಿಂಗ್‌ ಕೋರ್ಸ್‌ಗಳು ಮತ್ತು ಇತರೆ ನೂರಾರು ಉದ್ಯೋಗಾಧರಿತ ಕೋರ್ಸ್‌ಗಳ ಮಾಹಿತಿ ಪಡೆಯಲು ಕ್ಯಾಡ್‌ನೆಸ್ಟ್‌.ಆರ್ಗ್ ಗೆ ಭೇಟಿ ನೀಡಿ

* ವ್ಯಾಟ್ ಎಂದರೇನು?

* ಮೂಲ ಲೆಕ್ಕಪತ್ರ ಸಮೀಕರಣವೇನು(ಬೇಸಿಕ್ ಅಕೌಂಟಿಂಗ್ ಈಕ್ವಿಷನ್)?

* ಅಕೌಂಟಿಂಗ್ ಮತ್ತು ಅಡಿಟಿಂಗ್ ಹೇಗೆ ಭಿನ್ನ?

* ರಿಟೇಲ್ ಬ್ಯಾಂಕಿಂಗ್ ಎಂದರೇನು?

* ಟ್ರೇಡ್ ಬಿಲ್ಸ್ ಎಂದರೇನು?

* ಬ್ಯಾಲೆನ್ಸ್ ಶೀಟ್ ಎಂದರೇನು?

* ಟ್ಯಾಲಿ ಅಕೌಂಟಿಂಗ್‍ನ ಅರ್ಥವೇನು?

* ಕ್ಯಾಪಿಟಲ್ ಮತ್ತು ರೆವೆನ್ಯೂ ಟ್ರಾನ್ಸಕ್ಷನ್‍ನ ನಡುವೆ ಇರುವ ವ್ಯತ್ಯಾಸಗಳೇನು?

* ವರ್ಕಿಂಗ್ ಕ್ಯಾಪಿಟಲ್‍ನ ಅರ್ಥವೇನು?

* ಅಕೌಂಟಿಂಗ್ ವಿಷಯದಲ್ಲಿ ಪ್ರಿಮಿಸೈಸ್‍ನ ಅರ್ಥವೇನು?

* ಡಬಲ್ ಎಂಟ್ರಿ ಬುಕ್ ಕೀಪಿಂಗ್ ಎಂದರೇನು? ಇದರ ನಿಯಮಗಳೇನು?

* ಡೆಬಿಟ್ ಮತ್ತು ಕ್ರೆಡಿಟ್ ನೋಟ್ ಎಂದರೇನು?

* ಅಕೌಂಟಿಂಗ್‍ನ ವಿವಿಧ ಶಾಖೆಗಳನ್ನು ಹೆಸರಿಸುವಿರಾ?

* ಅಕೌಂಟಿಂಗ್ ವಿಷಯದಲ್ಲಿ ಟರ್ಮ್ ಡ್ಯೂಯೆಲ್ ಆಸ್ಪೆಕ್ಟ್ ಎಂದರೇನು?

* ಕಂಪೌಂಡ್ ಎಂಟ್ರೀಸ್‍ನ ಭಾಗವಾಗಿರುವ ಅಕೌಂಟಿಂಗ್ ಇನೆಂಟ್ಸ್ ಅನ್ನು ಹೆಸರಿಸಿ.

* ಇನ್‍ಆ್ಯಕ್ಟೀವ್ ಮತ್ತು ಡೊರ್‍ಮಂಟ್ ಅಕೌಂಟ್ ಎಂದರೇನು?

* ಮುಂದೂಡಲ್ಪಟ್ಟ ತೆರಿಗೆ ಬಾಧ್ಯತೆ ಬಗ್ಗೆ ತಿಳಿಸಿ

* ನೀವು ಬಳಸುವ ಅಕೌಂಟಿಂಗ್ ಅಪ್ಲಿಕೇಷನ್‍ಗಳ ಬಗ್ಗೆ ತಿಳಿಸಿ.

* ಜಿಎಸ್‍ಟಿ ಎಂದರೇನು?

* ಬ್ಯಾಂಕ್ ಸಮನ್ವಯ ಎಂದರೇನು?

* ಕಂಪನಿಯ ಹಣಕಾಸು ಸ್ಟೇಟ್‍ಮೆಂಟ್ ಮೇಲೆ ಪರಿಣಾಮ ಬೀರುವ ವಿವಿ`À ಆರ್ಥಿಕ ನಿಬಂ`Àನೆಗಳೇನು?

* ಜಿಎಎಪಿ ಅರ್ಥವೇನು?

* ಕಾಲ್ಪನಿಕ ಸ್ವತ್ತುಗಳು ಯಾವುವು?

* ಜನರಲ್ ಲೆಡ್ಜರ್ ಅಕೌಂಟ್‍ನ ಅರ್ಥವೇನು?

* ಬ್ಯಾಲೆನ್ಸ್ ಶೀಟ್ ಅಕೌಂಟ್ಸ್‍ಗಳು ಯಾವುವು?

* ಮಾರ್ಜಿನಲ್ ಕಾಸ್ಟ್ ಎಂದರೇನು?

* ಅಕೌಂಟಿಂಗ್‍ನಲ್ಲಿ ಓವರ್‍ಹೆಡ್‍ನ ಅರ್ಥವೇನು?

* ಭಾರತದಲ್ಲಿ ಎಷ್ಟು ಅಕೌಂಟಿಂಗ್ ಸ್ಟಾಂಡಡ್ರ್ಸ್ ಇವೆ ಮತ್ತು ನಿಮಗೆ ಪ್ರತಿಯೊಂದರ ಪರಿಚಯ ಇದೆಯೇ?

* ನಿಮ್ಮ ದೃಷ್ಟಿಕೋನದಲ್ಲಿ ಅಕೌಂಟೆಂಟ್ ಯಾವುದರ ಬಗ್ಗೆ ಅತ್ಯುತ್ತಮ ಜ್ಞಾನ ಹೊಂದಿರಬೇಕು?

* ಕಾಸ್ಟ್ ಆಬ್ಜೇಕ್ಟಿವ್ ಎಂದರೇನು? ಯಾಕೆ ಅದನ್ನು ಮಾಡಲಾಗುತ್ತದೆ?

* ಲಿಯಾಬಿಲಿಟಿ ಅಕೌಂಟ್ ಎಂದರೇನು?

* ನೀವು ಮಾಡಿರುವ ಕೆಲಸವು ದೋಷ ರಹಿತವಾಗಿದೆ(ಎರರ್ ಫ್ರೀ) ಎಂದು ಹೇಗೆ ಖಚಿತಪಡಿಸಿಕೊಳ್ಳುವಿರಿ?

* ಅಕೌಂಟೆನ್ಸಿಯನ್ನು ನೀವು ವೃತ್ತಿಯಾಗಿ ಯಾಕೆ ಆಯ್ಕೆ ಮಾಡಿಕೊಂಡಿರುವಿರಿ?

What are the different types of accounting?

Ans. Different types of accounting are –

Financial Accounting – This branch of accounting records, summarises and reports the business transactions that take place over a time period in an organisation. It is required in both the private and public sectors.

Administrative Accounting – Administrative accounting is focused on the administrative aspects of the company and is used above all to assess the fulfillment of the established objectives and improve the implemented strategy. It is very useful for making forecasts and planning the actions and resources to be used.

Tax Accounting -Tax accounting helps to register and prepare reports related to tax returns to the public treasury and payment of taxes.

Cost Accounting – This type of accounting is more focused on companies of an industrial nature. It helps to make a detailed analysis of the unit costs of production, sales, and, in general, of the production process that the company carries out.

Management Accounting – Management accounting has a broader vision than cost accounting since it records all the economic and financial information of the company to be able to make short-term and long-term decisions.

Which accounting platforms have you worked on? Which one do you prefer the most?

Ans. Describe the accounting platforms (QuickBooks, Microsoft Dynamic GP, etc.) that you have worked with and which one you liked the most.

Show you have a good understanding of the accounting platform you use. You can further specify what type of businesses use them. Generally, small and growing enterprises use the affordable plan of QuickBooks Online for creating invoices, tracking expenses and utilising the software’s built-in reports.

What is working capital?

Ans. Working capital is calculated as current assets minus current liabilities, which is used in day-to-day trading.

In a simple accounting scheme, the concept of working capital focuses on the capital resources that a given company can count on in the short term to operate. These resources owned by the company are the cash, the portfolio of financial products, and other investments made by the company.

Give a suggestion to improve the company’s working capital flow.

Ans. In my opinion, the stock on hand can be the key to improving the working capital of the company. Of all the components of working capital, the stock is something we can control. We can pressure our debtors to pay us instantly, but we cannot have direct control over them because they are separate legal entities and, in the end, they are the ones who give us business.

We may tend to delay payments from our suppliers, but it ruins business relationships and hinders goodwill in the industry. Also, if we delay payments, they may not supply goods in the future. Maintaining liquidity in the form of funds in the bank can help the flow of working capital, but it comes at an opportunity cost.

With all of this in mind, I personally believe that inventory management can be of great help in improving the working capital of the company. Over-stock should be avoided and stock turnover rates should be high.

This answer is generic. There are industries that work with negative working capital, such as electronic commerce, telecommunications, etc. So do some research on working capital before answering.

How do you maintain accounting accuracy?

Ans. Maintaining the accuracy of an organization’s accounting is an important activity as it can result in a huge loss. There are various tools and resources which can be used to limit the potential for errors to creep in and address them quickly if any errors do arise. My favorite is MS Excel.

Some of the most common ways of maintaining accuracy in accounting are:

Identify revenue streams
Keep a close eye on invoices and receipts
Prepare tax returns to avoid penalty
Prepare financial statements
Keep tabs on deductible expenses

Since you mentioned that MS Excel is your favorite, please give us three cases where Excel will make your life easier.

Mention these three advantages:

Excel saves a lot of time. Automating repetitive and predictable tasks with macros is one example. This allows one to format, filter and analyse vast sets of data within seconds.
Excel is highly customisable. Accountants need to create reports with tables and charts in excel. The same can be re-used for creating other reports without having to use or create new templates.
Excel is convenient in comparing financial datasets. It helps one in tracking financial records and see from which source the cash flow is generating.

What is TDS? Where do you show TDS on a balance sheet?

Ans. TDS (Tax Deducted at Source) is a concept aimed at collecting tax at every source of income. In a balance sheet, it is shown in the assets section, right after the head current asset.

What is the difference between a trial balance and a balance sheet?

Ans. A trial balance is the list of all balances in a ledger account and is used to check the arithmetical accuracy in recording and posting. A balance sheet, on the other hand, is a statement that shows the assets, liabilities, and equity of a company and is used to ascertain its financial position on a particular date.

Is it possible for a company to show positive cash flows and still be in grave trouble?

Ans. Yes, if it shows an unsustainable improvement in working capital and involves a lack of revenue going forward in the pipeline.

What are the common mistakes in accounting?

Ans. This is one of the most frequently asked accounting interview questions.

The most common mistakes in accounting are –

Mixing personal accounts with that of the company
Little communication between the company and the accountant
Not keeping a backup
Misallocated resources
Not saving the receipts
Performing manual accounting
Not keeping the accounting books up to date

What is the difference between inactive and dormant accounts?

Ans. Inactive accounts are which are closed and will not be used in the future. Dormant accounts are not currently functional but may be used in the future.

Are you familiar with the Accounting Standards? How many accounting standards are there in India? [Frequently asked accounting interview question]

Ans. Even if you’ve never worked as an accountant before, it is essential that you show knowledge of International Accounting Standards. Although it is true that this is such an extensive subject that it is impossible to know it by heart, before the interview you should have studied the most recent changes to be prepared to talk about them.

There are currently 41 Accounting Standards that are usually issued by the International Accounting Standards Board (IASB).

Why do you think Accounting Standards are mandatory?

Ans. Accounting Standards play an important role in preparing a good and accurate financial report. It ensures reliability and relevance in financial reports.

Every organisation’s financial documents are created as per Accounting Standards. The uniformity allows one to compare its market position against others who follow the same mandatory principles. As a common methodology exists, there remains no room for misrepresentation.

If our organization has three bank accounts for processing payments, what is the minimum number of ledgers it needs?

Ans.Three ledgers for each account for proper accounting and reconciliation processes.

What are some of the ways to estimate bad debts?

Ans. Some of the popular ways of estimating bad debts are – the percentage of outstanding accounts, aging analysis, and percentage of credit sales.

What is deferred tax liability?

Ans. Deferred tax liability signifies that a company may pay more tax in the future due to current transactions.

What is a deferred tax asset and how is the value created?

Ans. A deferred tax asset is when the tax amount has been paid or has been carried forward but has still not been recognized in the income statement. The value is created by taking the difference between the book income and the taxable income.

What is the equation for Acid-Test Ratio in accounting?

Ans. The equation for Acid-Test Ratio in accounting

Acid-Test Ratio = (Current assets – Inventory) / Current Liabilities

Name some popular accounting applications.

Ans. I am familiar with accounting apps like CGram Software, Financial Force, Microsoft Accounting Professional, Microsoft Dynamics AX, and Microsoft Small Business Financials.

Which accounting application you like the most and why?

Ans. I find Microsoft Accounting Professional the best as it offers reliable and fast processing of accounting transactions, thereby saving time and increasing proficiency.

What is a bank reconciliation statement?

Ans. A bank reconciliation statement or BRS is a form that allows individuals to compare their personal bank account records to that of the bank. BRS is prepared when the passbook balance differs from the cashbook balance.

What is tally accounting?

Ans. It is accounting software used by small businesses and shops to manage routine accounting transactions. It is a popular accounting software created by Tally Solutions. It is used for all kinds of accounting-related activities including recording of financial transactions, generating statements of liabilities and assets and other analytical purposes.

What are fictitious assets?

Ans. Fictitious assets are intangible assets and their benefit is derived over a longer period, for example, goodwill, rights, deferred revenue expenditure, miscellaneous expenses, preliminary expenses, and accumulated loss, among others.

Can you explain the basic accounting equation?

Ans. Yes, since we know that accounting is all about assets, liabilities, and capital. Hence, its equation can be summarized as:

Assets = Liabilities + Owners Equity.

What is CMM?

Ans. Capability Maturity Model (CMM) is a document that provides a model and six elements of infrastructure used for measuring the effectiveness and capability of an organization’s finance process.

What is the meaning of purchase return in accounting?

Ans. As the name suggests, a purchase return is a transaction where the buyer of merchandise, inventory, or fixed assets returns these defective or unsatisfactory products back to the seller.

What is retail banking?

Ans. Retail banking or consumer banking involves a retail client, where individual customers use local branches of larger commercial banks.

What is offset accounting?

Ans. Offset accounting is the process of canceling an accounting entry with an equal but opposite entry. It decreases the net amount of another account to create a net balance.

What are the trade bills?

Ans. These are the bills generated against each transaction. It is a part of the documentation procedure for all types of transactions.

What is fair value accounting?

Ans. As per fair value accounting, a company has to show the value of all of its assets in terms of price on the balance sheet on which that asset can be sold.

What happens to the cash, which is collected from the customers but not recorded as revenue?

Ans. It goes into “Deferred Revenue” on the balance sheet as a liability if no revenue has been earned yet.

How important is documentation when it comes to accounting?

Ans. I believe that the accounting team of any company has a responsibility to present a true and fair view to the shareholders and management of the company. The accounting team is like the watchdog of the organization.

That is why documentation becomes very important in accounting. Appropriate documentation must be verified so that an adequate audit trail is maintained and justified when necessary.

What is an MIS report, have you prepared any?

Ans. Yes, I have prepared MIS reports. It is an acronym for Management Information System, and this report is generated to identify the efficiency of any department of a company.

What do you mean by the company’s payable cycle?

Ans. It is the time required by the company to pay all its account payables.

What is Scrap Value in accounting?

Ans. Scrap Value is the residual value of an asset that any asset holds after its estimated lifetime.

Which account is responsible for interest payable?

Ans. The current liability account is responsible for interest payable.

What is the departmental accounting system?

Ans. It is a type of accounting information system that records all the financial information and activities of the department. This financial information can be used to check the profitability and efficiency of every department.

What is a perpetual inventory system?

Ans. Perpetual inventory is a methodology that involves recording the sale or purchase of inventory immediately using enterprise asset management software and computerized point-of-sale systems.

What do you mean when you say that you have negative working capital?

Ans. When a company’s current liabilities exceed its current assets, it is named as negative working capital. It is a common terminology in certain industries like retail and restaurant businesses.

What are the major constraints that can hamper relevant and reliable financial statements?

Ans. Here are some of the major constraints:

Delay, which leads to irrelevant information
No balance between costs and benefits
No balance between the qualitative characteristics
No clarity in true and fair view presentation