GL Interview Questions

GL Interview Questions

1. What experience have you had in fixed assets accounting?

2. Explain the terms: Provision, Accrual and Reserve. Give an example for each?

3. What do you understand from the term” cash flow”?

4. What do you understand from management accountancy? Explain the various functions of management accountancy?

5.  Define control account. Explain the procedure of creating a control account?

6. Differentiate between a check and cash payment?

7. How do you explain accounts receivable and accounts payable? What are the different strategies available to control both types of accounts?

8. Tell us the procedure of a liability side of the balance sheet?

9. What are the various means of calculating depreciation?

10. What is meant by discount eligibility of a buyer?

11. What is the difference between discount and rebate?

12. Give the difference between a pass book and a cash book?

13. What do you mean by Money Laundering?

14. What is Salary TDS & TDS?

15. What is the deferred revenue expenditure and its treatment in accounts?

16. What is the difference between net income and free cash flow?

17. What is Cash Book and Pass Book?

18. What is meant by Deferred Revenue Expenditure?

19. Differentiate between discount and rebate?

20. What is the difference between Expenses & Expenditure?

21. Describe some of the methods used to allocate support costs?

22. What is charge back?

23. What is the purpose of chargeback?

24. What is meant by cost accounting?

25. Describe some of the methods used to allocate support costs?

26. Explain fixed cost, variable cost and marginal cost?

27. Define a shadow balance sheet. Tell us about its usage and advantages?

28. Explain the steps of generating a final account. What factors should be considered during the preparation of such an account?

29. Give any three major differences between management accountancy and cost accountancy?