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Notional Cost
What is Notional Cost?
Praveen2147
- Mar 12th, 2008
Hidden or oppurtunity cost incurred in using the already paid for assets, without taking into account the income these assets would earn if hired out to others. It is also known as Implied cost.
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Purchase orders
What are some common question asked about purchase orders?
nkamuni_mca
- Dec 30th, 2009
Here are some common qustions on purchase orderwhat is a purchase order means?what are the contants of purchase order?who will create a purchase order?How purchase order is related to accounts payable?etc
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Cost Accounting and Management Accounting
What is the difference between Cost Accounting and Management Accounting
kokkikumar
- Aug 13th, 2008
Cost accounting is period of year the financial statementmangement accounting is like mangement manageble and reconslidation, and changethe cash flow the have wright
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What is the MIS?
Explain the meaning of mis?
joy_debora
- Oct 20th, 2008
MIS (management information systems) is a general term for the computer systems in an enterprise that provide information about its business operations. Regards,Debora.
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Difference between profit and loss account
nkamuni_mca
- Dec 30th, 2009
The profit and loss account is only one account where in we transfer all the expenses/losses on the Dr side and incomes/gains on the Cr side and if the difference between CR and DR is positive then we say we made profit else loss.
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Basic accountancy
What is basic accountancy
harendra prasad
- Jun 30th, 2008
accounting is a mean of measuring to the reporting of result of economic activitis accounting work is summrising cllsification recording.
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Form 1099
What is the for 1099 - Misc used for?
Gandhevi
- Aug 17th, 2008
1099 form is an Internal Revenue Service(IRS) tax document i.e., sent to businesses or individuals after calender year end. It is used by them for reporting taxable income to the IRS.It is not issued to Corporations & Non-Profit/Non Exempt organizations.Regards,Vinod.
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Verify Expense Report / Invoice Payment
What items would you verify when processing an expense report /invoice for payment?
nkamuni_mca
- Mar 6th, 2010
Expense reports are normally submitted by the employees of the company for re-imbursement of the expenses incurred by them on be-half of the company... These reports are audited according to the compa...
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Process and Report
What is the differences between process and report?
nkamuni_mca
- Mar 6th, 2010
Process is the sequence of steps that needs to be followed for completing a task.Report is the outcome of any analysis made
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SysAudit
What is the sysaudit?
nkamuni_mca
- Mar 6th, 2010
I have come across this term in ERP's like Oracle Financials and SAP where in an invoice is processed by the system automatically using the OCR software and the audit will be performed by the syst...
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Accounts Payable Process
Why does a company/business require an Accounts payables process?
armando a. domingo
- Oct 21st, 2008
Accounts payable process is required in a company because this will help and guide the accountant to manage their payables with in the normal course of the business.This includes verifying and checkin...
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Expense / Invoice Verification
What items would you verify when processing an expense report / invoice for payment?
balajinanduri
- Jun 27th, 2009
First thing to be verified whether it is a tax invoice or not.Secondly we have to check the party's name on the invoice.it should be approved by the person who is having limit.The other things like cost center IE Type should be checked.
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Invoice discrepancy
Tell us about an invoice discrepancy that you discovered and how you resolved the discrepancy
gulred21
- Dec 24th, 2008
Invoice can be discrepant with Purchase order in the following ways. 1. Currency of Purchase order does not match with Invoice. 2.? Post dated Invoice 3. Invoice details does not match with the database maintained. 4. Quantity and Price Variance 5. Total Mismatch 6. Incorrect VAT calculation.
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Billable and non-billable expenses
What is the difference between billable and non-billable expenses?
amrit257
- Aug 25th, 2009
Billable expenses are the expenses incurred by you on behalf of your customer in performing duties / service and supply. This expenses are recoverable from your customer by way of billing. Non-billab...
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Invoice for payment
What steps would you take before approving an invoice for payment?
Devaraju.R
- Nov 17th, 2008
STEP 1 ; Verification of purchase order, qty, rate
STEP 2 : Verification of purchase invoice with purchase order
STEP 3 : Verification of goods received note
STEP 4 : Number of credit days
STEP 5 : Bank Name and CH favouring -
Accounts Payable STPT
In accounts payable - What do you mean by STPT?
ncthudimilla
- Apr 18th, 2009
Software Technology Parks of India (STPI), is a society set up by the Department of Communication & Information Technology, Government of India in 1991, with the objective of encourag...
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Sub Ledger Posting
In accounts payable we use to pass sub ledger entries and what is it for?
chinnaguntupalli
- Sep 13th, 2009
Accounts Payable itself is a subledger, hence there is no concept of further subledger in Accounts Payable
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Accrual Entry
What is an Accrual entry?
chinnaguntupalli
- Sep 8th, 2009
Accrual entry is the entry to record an unaccounted expense in current month books of accounts to ensure creating a provision for accounting in subsequent month, this is an auto reversal entry, which need to be revesed on first day of subsequent month
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MALA
What is MALA? How it is useful in accounts payable?
Accounts Payable Interview Questions
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