Now days Interview cracking exceptions are increasing day by day in every filed.
At the same time fiance and accounting also competition is increasing
and expecting more technical knowledge. Apart from technical stuff they
are looking good communication, aptitude and behavior skills as well. So, little bit more focus is required for present market to crack the interview.
Everyone as minimum technical skills after completion of graduate
course but it important thing you should express your knowledge and
convince the interviewer in a limited time period. In finance and accounting you should be good knowledge about basics like which are items will come in Credit side and which are items will come debit side. But in terms of basics if say this answer no it will be like hell situation. So, Before
you go for an interview please prepare your basics in a standard way so
that will give a good impression on you apart from others in the
interview.
-For example if interviewer is asked about types accounts/kinds accounts then you are should be very clear answer as mentioned below. There are 3 types of accounts and those are: 1. Personal account:Personal accounts which represents about persons and organizations EX:Mr. Srinivas a/c and Mr.ABC a/c Accounting Eqution/rule: DR-Receiver CR-Giver 2. Real Account: Real accounts represents tangible aspects as well as intangible aspects. Ex:Cash a/c, Goods a/c, Good will a/c. Accounting Eqution/rule: DR-What come in CR-what goes out 3. Nominal Account:Nominal accounts represents expenses,losses,Income and gains. Ex:salaries a/c, interest received a/c Accounting Eqution/rule: DR-Expenses and losses CR-Incomes and gains If you prepare your interview like this for all the basic questions then you can crack your interview as well as you can lead your life smoother in corporate or where you will work. If you interviewer ask any question do not give hurry answers because everyone is known basics but how you are presenting you skills is very important because interview process is nothing about comparison test to you and others. If you are answering for typical question take your own time give one shot answers in perfect way so it will good.
Most frequent questions in Finance and Accounting are :
1. What it means accrual,why we need to book accrual entry's and journal entry(General Ledger).
2. What is difference between cash basics accounting and accrual base accounting(General Ledger)
3. Can you explain Invoice processing to payment entry's on vendor ledger side.(Account Payable)
4. If we received $500 to chase bank account but we do not know which customer is deposit to our account so that case what you will do? (Account Receivables)
5. What is Prepaid expense and what is the journal entry for that(General Ledger)
6. Explain cash application process(Account Receivables)
7. What is Automatic payment program explain the process on Vendor side.(Account Payable)
8. What is the journal for fixed asset buy and explain Depreciation methods.(General Ledger)
Apart from above question you should be good knowledge about budgeting, Forecasting as well as Financial statements and ratios. So, you can crack interview in good manner based on that your package will be decide. For experience candidates especially they should have good knowledge on systems and real time scenarios because you are working in real time environment. If the problem is come you should not depend on anyone and you should be resolved it by yourself.
For experience candidates they should know about client management skills as well. In the present environment so many ERP (Enterprise resource planning)S are there like SAP, Oracle,Tally, People soft, Microsoft Dynamics,Basware,Baan, Quick books. For experience people they should aware of all this and they should know about minimum basics of ERP work flows and impacts. One more important thing is without excel we can't do anything in the real time so you should have a good knowledge about MS-Excel as well.
-For example if interviewer is asked about types accounts/kinds accounts then you are should be very clear answer as mentioned below. There are 3 types of accounts and those are: 1. Personal account:Personal accounts which represents about persons and organizations EX:Mr. Srinivas a/c and Mr.ABC a/c Accounting Eqution/rule: DR-Receiver CR-Giver 2. Real Account: Real accounts represents tangible aspects as well as intangible aspects. Ex:Cash a/c, Goods a/c, Good will a/c. Accounting Eqution/rule: DR-What come in CR-what goes out 3. Nominal Account:Nominal accounts represents expenses,losses,Income and gains. Ex:salaries a/c, interest received a/c Accounting Eqution/rule: DR-Expenses and losses CR-Incomes and gains If you prepare your interview like this for all the basic questions then you can crack your interview as well as you can lead your life smoother in corporate or where you will work. If you interviewer ask any question do not give hurry answers because everyone is known basics but how you are presenting you skills is very important because interview process is nothing about comparison test to you and others. If you are answering for typical question take your own time give one shot answers in perfect way so it will good.
Most frequent questions in Finance and Accounting are :
1. What it means accrual,why we need to book accrual entry's and journal entry(General Ledger).
2. What is difference between cash basics accounting and accrual base accounting(General Ledger)
3. Can you explain Invoice processing to payment entry's on vendor ledger side.(Account Payable)
4. If we received $500 to chase bank account but we do not know which customer is deposit to our account so that case what you will do? (Account Receivables)
5. What is Prepaid expense and what is the journal entry for that(General Ledger)
6. Explain cash application process(Account Receivables)
7. What is Automatic payment program explain the process on Vendor side.(Account Payable)
8. What is the journal for fixed asset buy and explain Depreciation methods.(General Ledger)
Apart from above question you should be good knowledge about budgeting, Forecasting as well as Financial statements and ratios. So, you can crack interview in good manner based on that your package will be decide. For experience candidates especially they should have good knowledge on systems and real time scenarios because you are working in real time environment. If the problem is come you should not depend on anyone and you should be resolved it by yourself.
For experience candidates they should know about client management skills as well. In the present environment so many ERP (Enterprise resource planning)S are there like SAP, Oracle,Tally, People soft, Microsoft Dynamics,Basware,Baan, Quick books. For experience people they should aware of all this and they should know about minimum basics of ERP work flows and impacts. One more important thing is without excel we can't do anything in the real time so you should have a good knowledge about MS-Excel as well.
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