Important Junior Accountant Interview Preparation Guide

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It was detailed, I work through how much money we made last year and made preparation through counting and analyzing the growth of the service, how much money we will need to be able to provide our service.

When you sign an confidentiality agreement, you cannot talk about anything. Papers that are confidential are printed on a separate printer. Banking statements comes to my laptop.

I believe I can cope with pressure, work in a team and abide to orders given. I'm very motivated by nature and when it comes to strive for perfection, I'm among the first.

I've had that situation only ones, However we had a very good lowers in the company that worked with them. I usually call and give them notification that they have to follow the contract.

My dream job was to be an accountant because I love working with numbers, am detailed oreineted, and base on my personality trait identified by Myers Briggs test I am a perfect candidate to be an accountant.

Talk about any reports and data analyses that you have done, including financial analyses and reports, evaluation, inventorying, reports on equipment and real estate, documentation of accounting systems, management of account tables and entries, etc.

Debit note is an intimation sent to a person dealing with the business that his account is being debited for the purpose indicated therein. It is a note made out with a carbon duplicate. The original one is sent to the party to whom the goods are returned and the duplicate copy is kept for office record.
Credit note is an intimation sent to a person dealing with the business that his account is being credited for the purpose indicated therein.

I do not generally prepare myself for the schedule. If one is prepared to enjoy your work, you will not be scheduling the same. However I am flexible to work at any schedules.

My greatest weakness is I may not concern on details as I am a picture thinker. So,I will overcome this by list out every step before proceed it.Moreover,I will also plan for each of the step and write down the details.

The portfolio of mine suits with the job responsibilities and I am flexible motivated and committed team worker too.

This is best answered with examples of specific relevant responsibilities: analysis of business operations, financial advice based on projections of current and future revenues and expenses, specific problems solved, analysis and development of budgets, etc.

Contingent liability is an obligation, relating to a past transaction or other event or condition, that may arise in consequence, as a future event now deemed possible but not probable. Thus such liabilities as may arise in future are called contingent liabilities. For example: guarantee to a bank for loan advanced to a third party, possible penalties, fines and penalties payable to the government or income tax authorities etc. Future losses from natural calamities are not contingent liabilities. They are not recorded in books of account. They do not appear on the liabilities side of the balance sheet. They are shown by way of a footnote at the bottom of the balance sheet.

Well its the time when you are out of breath. I think outside the box at the situations. I will take a break and start fresh and ease myself and taking a break helps us to concentrate the work that is going to be done in the next few hours.

Your company is the best of the Financial Position and Society this company have a good image and I want to this type of company to worm on my future.

I love maths, its really challenging, I believe its something everybody should love, I love identifying differences and solving them.

Double entry bookkeeping follows the principle according to which every debit has a corresponding credit; hence total of all debits is always equal to the total of all credits. In this system, one account is debited and at the same time another account is credited by the similar amount.

Following are the rules for different account

☛ For Personal Accounts : Debit the receiver, Credit the giver.
☛ For Real Account : Debit what comes in, Credit what goes out.
☛ For Nominal Account : Debit all the expenses, Credit all the incomes.

☛ Trial balance is a list of balances from the ledger account while balance sheet is a statement of assets and liabilities.
☛ Trial balance contains balances of all personal, real and nominal accounts, while balance sheet contains balances of only those personal and real accounts which represent assets and liabilities.
☛ Trial balance is prepared before preparation of trading and profit and loss account, while balance sheet is prepared after the preparation of trading and profit and loss account.
☛ Trial balance is prepared to check the arithmetical accuracy of posting into ledger while balance sheet is prepared to indicate the financial position of the business on a particular date.
☛ Debt and credit balances are shown side by side while balance sheet is prepared on a T form basis, the left hand side showing liabilities while right hand side representing assets.
☛ Closing stock does not appear in the trial balance while it is shown on the assets side of balance sheet.

Assets
☛ Current assets and fixed assets
☛ Tangible assets and Intangible assets

Equity is a claim which can be enforced against the assets of the firm in the court. Thus equity refers to a claim held by
☛ An owner only,
☛ A creditor only,
☛ An owner and the creditor both.

Liability
☛ Current Liability
☛ Long term Liability or fixed Liabilities
☛ Contingent Liabilities

I see my self an expert in my job gaining the experience and enhancing my knowledge, looking to be promoted to a higher position giving me the ability to gain skills in other positions.

I have not experienced such in my career life, but communication between co-workers is the key to work successfully.

Right from my schooling I wish to be an charted accountant and gaining knowledge in it is itself a big positive one as of me, However I wish to establish myself as an renowned accountant in the society.

Real Account is an account of assets and Liabilities.
☛ Types of Real account
☛ Furniture Account
☛ Land Account
☛ Machinery Account
☛ Building Account
☛ Goodwill Account
☛ Patents & Trade Marks Account.

Not really no. I have been exposed to some of the activities yes, however not the actual Accountant Job.

Deferred Revenue Expenditure is a type of expenditure which does not result into the acquisition of any fixed asset and the benefits from such expenditure is not received during the period which they are paid for.
For example - Initial Advertisement Expenditure, Research and development Expenditure, Preliminary Expenses.

Owner’s equity, also known as capital of the business is the claim of the owner of the business against the assets of the business. Owner’s equity is calculated by subtracting equity of creditors from the total equity.