Junior Accountant

In your answer discuss how you have set up effective procedures for information collection and review. Describe how you monitor projects and check the progress of delegated tasks.

In mercantile system, expenses are considered as expenses during the period to which they pertain. Similarly, incomes are considered to be incomes during the period to which they pertain. This system of accounting is considered to be more ideal. On the hand, in cash system, expenses are considered to be expenses only when they are paid for and the incomes are considered to be income when they are actually received. This system of accounting is mainly used by the organizations established not for earning the profits.

In your answer discuss how you are able to determine an appropriate and effective course of action based on factual information, accurate assessment of organizational resources and consideration of the alternatives. Describe how you communicate your decision to others.

☛ Closing Stock

☛ Depreciation

☛ Outstanding Expenses

☛ Prepaid Expenses

☛ Accrued Income

☛ Income received in advance

☛ Bad Debits

☛ Provision for Doubtful Debts

☛ Provision for Discount on Debtors

☛ Interest on Capital

☛ Drawings

☛ Deferred Revenue Expenditure Written off

☛ Abnormal Loss due to fire etc.

☛ Goods distributed as free samples

☛ Goods sent on approval basis

☛ Commission payable to the manager

In your answer demonstrate your ability to clearly and effectively give information to individuals or a group, how you are able to adjust your communication style to suit your audience and simplify complex information to enable understanding.

You can mention experience with taxes (taxes owed and tax return) and relevant government regulations, your work with the tax authorities and Internal Revenue Service, and any experience with government record keeping.

In your answer demonstrate your willingness to pay attention to all aspects of the job, no matter how small, to check outputs for accuracy and reliability. Show how you set high performance standards for yourself and others.

☛ Tell me about a difficult project you worked on during your studies/internship/etc.

☛ Describe the accounting project you are most proud of

☛ What was the most important thing you learned during your internship? What was your most significant contribution?

☛ Have you ever made a mistake due to misunderstanding instructions? What have you learned?

☛ Have you ever been asked to do something that you didn’t agree with? What did you do?

In your answer show how you are able to identify key issues and detect problems from relevant information, include your ability to break down and organize information to recognize cause and effect relationships.

☛ Cheques deposited into the bank but not yet collected and credited.

☛ Cheques issued but not yet presented for payment.

☛ Bank Charges.

☛ Amount collected or credited by bank on standing instructions.

☛ Amount paid or debited by the bank on standing instructions.

☛ Interest credited by bank.

☛ Interest debited by bank on overdraft.

☛ Direct payment by customers into the bank account.

☛ Dishonour of cheques or bills.

☛ Errors in recording of transactions by either the firm or the bank.

☛ The journal is the book of first entry whereas the ledger is the book of second entry.

☛ The journal as a book of source entry ordinarily has greater weight as legal evidence than the ledger.

☛ The journal is the book for chronological record whereas the ledger is the book for analytical record.

☛ The unit of classification of data within the journal is the transaction; in the ledger the unit of classification of data within the ledger is the account.

☛ The process of recording in the journal is called journalizing, the process of recording in the ledger is called posting.

Be specific here. Mention projects which were difficult or had to be completed in little time, or urgent problems you solved effectively. If you don’t have an example from your professional life, you can mention situations from your personal or public life which demonstrate efficiency under pressure.

The company is focuses his clients, take care about its employers, it is possible career development, last, but not least financial compensation.

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

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.

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