top most common job interview questions and answers accountant and account assistant

    

          In this article we are discuss about the most common job interview questions and answers accountant and account assistant.

1)   What is accounting?

                  Accounting is a method or system used to keep track of and determine the financial status of a person or company's income assets and outlay of money and positions and a content engages in accounting the occupation of maintaining and auditing records and preparing financial reports for a business who uses accounting taxpayers like to use accounting.

2)   What are accounting principles?

          The accounting principles are the assertion rules of accounting and the application of these rules methods and procedures to actual practice of accounting. These accounting principles have been divided into two accounting concept and accounting conventions.

3)   What are the four phases of accounting?

          The fourth phases of accounting are recording classifying summarizing and interpreting.

4)    What are the different fields of accounting?

            There is one field of accounting but there are many different jobs within the field such as auditor, bookkeeper, payroll accountant, Cost Accountant, tax accountants, etc accountants wear many hats and often do different tasks for different clients.

5)   What are the different branches of accounting?

          Financial accounting refers to accounting for revenues, expenses, assets and liabilities. It involves the basic accounting processes of recording classifying and summarizing. Transactions cost accounting is the branch of accounting dealing with the recording classification allocation and reporting of current and prospective costs managerial accounting is the branch of accounting designed to provide information to various management levels in the hospitality operation for enhancing controls.

6)   What is accounting transaction?

           The transaction is an execution of a user program and is seen by the DBMS as a series or list of actions the actions that can be executed by a transaction include the reading and writing of database.

7)   What are the functions of accounting?

          Accounting involves the creation of financial records of business transactions flow of Finance the process of creating wealth in an organization and summarizing the financial position of a business at a given moment in time.

8)    What is creative accounting?

            Creative accounting is actually a good description of the practice as it tends to create a picture which is not technically correct from the perspective of the in formations intended user.

9)   What is a ledger in regards to accounting?

           It is a complete set of accounts for a business entity.

10)             What is accounting management accounting?

           management business is the practical application of management techniques to control and report on the financial health of the organization this involves the analysis planning, implementation and control of programs, designed to provide financial data reporting for manager decision-making this includes the maintenance of bank accounts, developing financial statements, cash flow and financial performance, analysis accounting. management is a mandatory knowledge module of any MBA program accounting IT management accounting is often referred to as building management the goal is to gather usage statistics for users using the statistics the users can be billed and usage quota can been forced examples disk usage link utilization and CPU time.

11)              What is the use of statistics in accounting?

               well in many accounting situations there is too much data to go through all this for example if we are looking about Ford Motor Corp and looking at some specific data there may be too much to analyze so we take a sample then we need to know how big a sample to take so we can say with 95%confidence that our results are representative of all the data.