Скачать или смотреть Basic Accounting Interview Questions and Answers | Accountant Interview Questions and Answers

In this video, Faisal Nadeem shared 8 basic accounting interview questions and answers or accounts interview questions and answers or accounting interview questions and answers or accountant job interview questions and answers or accounts receivable interview questions and answers or accounting job interview questions and answers or accountant interview questions and answers for freshers or accounting manager interview questions and answers or junior accountant interview questions and answers or staff accountant interview questions and answers completely explained by @Knowledge Topper with suitable examples.

Q1) What are the key principles of accounting?
Answer: The key principles include the accrual principle, consistency, going concern, matching principle, and prudence.

Q2) What are the three main financial statements?
Answer: The Income Statement (profit/loss), Balance Sheet (assets, liabilities, equity), and Cash Flow Statement (cash inflows/outflows).

Q3) What is the accounting equation?
Answer: Assets = Liabilities + Equity; it ensures that a company's financial records stay balanced.

Q4) What is the difference between accounts payable and accounts receivable?
Answer: Accounts Payable is money the company owes to suppliers, while Accounts Receivable is money the company is yet to receive from customers.

Q5) What is depreciation?
Answer: Depreciation is the reduction in the value of an asset over time due to wear and tear, recorded as an expense.

Q6) What is the difference between cash and accrual accounting?
Answer: Cash accounting records transactions when cash is received or paid, while accrual accounting records transactions when they occur, regardless of cash flow.

Q7) What are debits and credits?
Answer: Debits increase assets and expenses but decrease liabilities and equity. Credits increase liabilities and equity but decrease assets and expenses.

Q8) Why do you want to work in accounting?
Answer: I enjoy working with numbers, analyzing financial data, and ensuring accuracy in financial records to support business decisions.

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