Chief Financial Officer

This will show you a lot about a person’s work personality. If they only have bad things to say about their current job, it could be a red flag. However, if the things they like about their current job are important for your company, they could be a good fit for the position.

A friend of mine once said the heads at Google often ask a similar question during interviews. It gives the candidate a chance to demonstrate their knowledge and personality, along with one of their unique skills.

Efficiency and effectiveness are important in every area of your ministry, but especially so in finance and operations. You want a CFO, COO, and/or Executive Pastor who can create organized, streamlined processes for your departments to prevent avoidable problems due to an unnecessarily complicated system.

This accounting convention is generally expressed as to “anticipate all the future losses and expenses, without considering the future incomes and profits unless they are actually realized.” This concept emphasizes that profits should never be overstated or anticipated. This convention generally applies to the valuation of current assets as they are valued at cost or market price whichever is lower.

Due to the small geographical area it becomes easy for the sole proprietor deal with all its customers personally and knows their needs. Thus it makes easy for him to pay special attention to consumer needs.

Are your candidates really interested in the finance industry, or are they just exploring their options? Passion for finance is essential to staying afloat in this industry. If they’re not engaged with their work from the start, chances are they won’t be when it matters.

Again, companies want to hire people who are passionate about the job, so you should have a great answer about why you want the position. (And if you don’t? You probably should apply elsewhere.)

First, identify a couple of key factors that make the role a great fit for you (e.g., “I love customer support because I love the constant human interaction and the satisfaction that comes from helping someone solve a problem”), then share why you love the company (e.g., “I’ve always been passionate about education, and I think you guys are doing great things, so I want to be a part of it”).

Uniform costing method can be advantageously applied:

☛ In single organisation having number of branches.

☛ In a number of firms in the same industry who are inter connected through trade association.

☛ In industries which are similar such as cotton, gas and electricity.

Reserves and Surpluses indicate that portion of the earnings, receipt or other surplus of the company appropriated by the management for a general or specific purpose other than provisions for depreciation or for a known liability. Reserves are classified as: Capital Reserve and Capital Redemption Reserve.

Financial Accounting is the process in which business transactions are recorded systematically in the various books of accounts maintained by the organization in order to prepare financial statements. Theses financial statements are basically of two types: First is Profitability Statement or Profit and Loss Account and second is Balance Sheet.

This question helps me see what a candidate’s motivations are. Since a person’s motivation can show whether or not they will fit in well with the company and its goals, I think this question is important. By knowing their motivation from the get-go, it’s easier to start a successful relationship.

Zeroing in on how others perceive your interviewee is essential to finding out whether they’re a match for the position and your company as a whole. Jot down what your candidate shares with you and follow-up with their references to see if the descriptions match.

Posing this question will help you key into their ability to overcome adversity or challenges throughout their career. If you’re particularly interested in a piece of information on their resume, like a layoff, ask them directly about how they overcame that situation.

Deferred Revenue Expenditure is a revenue expenditure which has been incurred during an accounting year but the benefit of which may be extended to a number of years. And these are charged to profit and loss account.

E.g. Development expenditure, Advertisement etc.

This question teaches me lot about a person. It shows which personal characteristics the candidate values the most, and which of these attributes they would use to describe themselves. It’s a great way to evaluate how they would fit into my company and if they would be happy in this position.

Competitive spirit is crucial for thriving in the majority of finance roles. Playing sports, whether currently or previously, is a great way to determine whether your finance candidates have a competitive nature. Although collegiate athletes may bring a higher level of competition to the table, don’t exclude those who may have played club or intramural — competition is still competition.

Proprietary firm is easiest and economic form to create and operate as it can be started by any person without any legal formalities. Also there is no set limit of minimum or maximum number of persons to start the business as it can be started by a single person.

This accounting convention proposed that while accounting only those transactions will be considered which have material impact on financial status of the organization and other transactions which have insignificant effect will be ignored.. It gives relative importance to an item or event.

According to this concept, the business has a separate legal identity than the person who owns the business. The accounting process is carried out for the business and not for the person who is carrying out the business. This concept is applicable to both, corporate and non corporate organizations.