Tell me about accounting basics.

Question

Accepted Answer

Accounting basics involve understanding financial statements, principles, and the accounting cycle for effective financial management.

Double-entry bookkeeping: Every transaction affects at least two accounts, e.g., a sale increases cash and revenue.
Financial statements: Key reports include the balance sheet, income statement, and cash flow statement.
Accrual vs. cash accounting: Accrual recognizes revenue when earned, while cash accounting recognizes it when received.
The accounting equation: Assets = Liabilities + Equity, which reflects a company's financial position.

Accepted Answer

Hotel  business money menten

Accepted Answer

Accounting is the art of recording, clarifying,and summarizing.

Accepted Answer

Accounting is an day to day financial transactions

Accepted Answer

Accounting is calculation of any kind of financial matters

Interview Questions from Popular Companies