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Which area of accounting are you strongest? Which area of accounting would you like to improve?
nkamuni_mca
- Mar 3rd, 2010
It is generic question asked in interview... give a logical answer to satisfy the client...
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Why does the Outstanding exp & Prepared Expenses treated as Personal Account?
ketavarapu
- Dec 17th, 2007
Because these exps are paid/payable to persons. person includes Sole Proprietor, Partnership Firms, HUF, Co; etc.Personal accounts always appear in B/S until it is transfered to expenditure by debiting to P&L A/C.
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What are the steps to configure automatic clearing? suppose we have to pay a bunch of outstanding payments what is the procedure?
nkamuni_mca
- Mar 6th, 2010
The configuration steps depends on the kind of ERP package you are using. How ever these are the common steps which have to configured.->Setup house-bank account->Create sequential check lot->...
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In implimenting a project, what are the records we have to upload from non SAP system to SAP system particularly pertaining to accounts department
nkamuni_mca
- Mar 6th, 2010
After finalizing the list of accounts by the management all the accounts which are listed has to be uploaded into SAP system
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What is Indemnity?
raja4uever
- Nov 21st, 2007
An Indemnity is a sum paid by A to B by way of compensation for a particular loss suffered by B. The indemnifying party (A) may or may not be responsible for the loss suffered by the indemnified party...
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What is meant by accrual basis.
How does it works? Where does it works? What is the journal entry for that. Where it comes in the final account?
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What is the difference between Payments-Liquidation(Disbursements) & Dividend Warrants Liquidation? Both of these products comes under Cash Management services
infantpragash
- Nov 5th, 2009
Payments: The partial or complete discharge of an obligation by its settlement in the form of transfer of funds. Liquidation: The winding up of a business or a firm by its members or its creditors.
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What is the Full Form of AMS Request In Banking Business?
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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...
Accounts Payable Interview Questions
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