what is the internal rate of return(IRR) of eurekaforbes? non performing assets What is Index?

Difference between Cashflow Vs Funds Flow What is Risk? what is equity What is Bond? DOW stock exchange belong to which country? What is the Relationship between the Return and Risk? i am doing mba finance.what r the topics i should be familiar with as to become a financial manager what are the interview questions asked in this area for freshers why are u join this company? What is the significance of finance management in day to day life? hi,my name is shiva.i have completed mba first year and i have vacation. my goal is to join an IT firm and im taking mba finance. what r the subjects i should on and what r the probable questions i may face (mention topics) what is brs What is Market Risk? what is the maximum number of directors in public limited company How to calculate tds on u/s 194C? What is the difference between Capital expenditure and Revenue expenditure? What do you understand by Private Equity? What is the difference b/w PE and Venture Capital?

Managerial Accounting Interview Questions (9)

What is debit and credit from the banks point of view ?

In Banks point of view debit means u have deposited money in the bank . and credit means u have withdraw money from the banks. in other word we can say that if debit bank balances shows in bank statement this means it is the unfavorable condition for the company and credit balance means it is the favorable condition for the company. Debit for a bank means assets/receivables Credit for a bank means liability/payable in the books of bank debit means receivable & credit means payable From Bankers point of view Debit is All Withdrawals by the customer, Bank charges and service tax on certain services rendered by bank and Credit is all Deposits by the customer, Interest on the favorable balance for a defined period by the bank. In other words for the banker Debit is decrease in balance and Credit is increase in the balance of the account
What is the difference between Consiner and Consinee?

Consigner is the person who is the owner of the goods and who deliver the goods to the consignee. Consignee is the person who receives the goods and he just possesses the goods and not the owner. Consigner is the owner and who deliver the goods to the consignee. Consignee receive the goods and after payment he become the owner of good. Consigner is the person deliver the goods to consinnee Consignee is the person who will receives goods consighner is the owner consighnee is the customer
What steps would you take before approving an invoice for payment?

Following steps should be taken.. >Validate the invoice once it is matched for checking any holds.. >If workflow is implemented , Initiate approval for the invoice. Once the invoice is approved/Approrval not required(status in case WF is not implemented) you can go for

payments. >Create accounting after approval of invoice.. Finally for payments u need to format, build..

Before making payment the following steps should be taken 1. invoice amt, date, qty, quy, 2. invoice duplication or not 3. rectification of any Errors in invoice

Posted by: maruthi

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Before hand over the invoice or dispatch the materials 1.we have to receive perchase order from the customer 2.Then PDC cheque, cash or current dated chq for dispatch the materials 3.have to take signature from the customer for the proof of goods recieve

Posted by: panchami

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We must check the invoice thoroughly. (1) Date of Invoice (2)Qty,Rate,Tax Levid

Posted by: Neeru

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Following steps should be taken >Validate the invoice once it is matched for checking any holds..

>If workflow is implemented , Initiate approval for the invoice. Once the invoice is approved/Approrval not required(status in case WF is not implemented) you can go for payments. >Create accounting after approval of invoice.. Finally for payments you need to format, build -------------------------------------------------------------------------------Before making payment the following steps should be taken 1. invoice amt, date, qty, quy, 2. invoice duplication or not 3. rectification of any Errors in invoice -------------------------------------------------------------------------------Before hand over the invoice or dispatch the materials 1.we have to receive perchase order from the customer 2.Then PDC cheque, cash or current dated chq for dispatch the materials 3.have to take signature from the customer for the proof of goods recieve -------------------------------------------------------------------------------We must check the invoice thoroughly. (1) Date of Invoice (2)Qty,Rate,Tax Levid
What is the full form of SOX in accounts?

Sarbanes Oxley
What is the types of assets?

There are three types of assets 1. Fixed assets Those assets which will be used by the company for a long period of time. a) Tangible assets: those assets which we can see and touch and exp Land & Buildings, Plant & Machinery,Furniture, fixtures and fittings b) Intangible assets: Those assets which we can't see and touch like Goodwill, Patents, Copyrights, Trade Mark etc 2. Current assets Those assets which can be easily converted into cash within one year like cash in hand, cash at bank, Bills receivable, stock etc 3. Fictitious assets: its not the actual assets , its the expenditure occurred at the tine of commencement of firm ( capital expenditure )like preliminary expenses, discount on issue on debenture/shares, underwriting commission etc
give me details about capital market related questions?

capital market is a market of securities. where a company and goverment raise long term funds. it is a market where money invested more them one year. in this we include the stock market and bond market

Posted by: ashok

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capital market is a market of securities. where a company and goverment raise long term funds. it is a market where money invested more them one year. in this we include the stock market and bond market

Posted by: ashok

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A capital market is a market for securities (both debt and equity), where business enterprises (companies) and governments can raise long-term funds. It is defined as a market in which money is lent for periods longer than a year[1], as the raising of shortterm funds takes place on other markets (e.g., the money market). The capital market includes the stock market (equity securities) and the bond market (debt). Financial regulators, such as the UK's Financial Services Authority (FSA) or the U.S. Securities and Exchange Commission (SEC), oversee the capital markets in their designated jurisdictions to ensure that investors are protected against fraud, among other duties. Capital markets consist of the primary market and the secondary market. The primary markets are where new stock and bonds issues are sold (via underwriting) to investors. The secondary markets are where existing securities are sold and bought from one investor or trader to another, usually on a securities exchange, over the counter, or elsewhere.

Posted by: Anand

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The capital market is the place where investment will take place .

Posted by: vasanth kumar

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capital market is the market for long term funds like securities,bonds...government and listed company can raise the money from public,institutions,FIIs by issuing equity.there are two segments of equity market that are primary market and secondary market.in primary market a company raises money by way of public issue for the first time under the SEBI guide lines. secondary market is the market for exchange traded funds, already listed companys shares.
What is account payable? How we pass the entries in account payable and related all the question based on account payable?

Account payable is the outstanding balance that we must pay to the third party or suppliers. We pass the entries in account payable from two sides: purchase order and general ledger. Purchase order module will be posted after material order has been arrived in warehouse and combining with invoice plus related documents that have been approved by authorized person. General ledger normally from service entry where it must be attached by service agreement between company and third party.

Posted by: alisika

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Accounts Payable is a short term liability of an organization. It's a process by which a company buys goods and services on credit and is billed in the form of an invoice, which states the terms and conditions of the payment. Accounts Payable is recorded as a current liability in the balance sheet. All accounts paayble entries are to be coded under the right G/L accounts to have an accurate picture of the company's short term liability.

Posted by: Asif Khan

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a/p which show the balance sheet on liability,who purchase the goods and service on credit .

Posted by: shashikumar

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When booking invoice: Purchases a/c ....dr To Party

(if it is a credit purchase other wise cash is credited) When making payment in cheque: Party a/c ...dr To Post dated cheque (if cash is paid cash will be credited) When money is with drawn from the bank: Bank a/c ....dr To Cash

Posted by: Reshmi Jacob

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accounts payable is module in SAP.For making payments to a vendor agst. the goods/services provided by the vendor,it handles all the liabilities.

Posted by: Harinder

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Account payable is a process of paying amount to supplier or third party as per the purchase order made.we see three types of account payable entries 1) at point of goods received to wharehouse or store 2)at the time of invoice received 3)on payment of invoice when a supplier sends goods to the purchaser the goods are reserved or kept at wharehouse as soon as goods received after the verfication entry will be inventory a/c dr to grni/grin/recipt controla/c(suspense) after the goods received and GRN(GOODS RECEIPT NOTE)issued then invoice raised and entry will be grni/grin/recipt controla/c dr To vendor a/c after invoice received and verified we have to issue payment entry Vendor a/c dr to bank a/c these are the main three entries for initial ap process includes

Posted by: vaghdutt

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Accounts payable are the short term obligations of a company, which arise when it purchases some goods on credit or receive some service whose payment is still due. AP are shown under the head current liabilities in the balance sheet.

Posted by: rinky malhotra

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money which is owned to vendors for products and services purchased on credit. entry for accounts payable: purchase A/c.........Dr To, party A/c
What is the difference between SAP MEMORY and ABAP MEMORY?

SAP Memory: Global, user-related memory that extends beyond transaction limits.Access to the SAP memory is via SPA/GPA parameters. ABAP Memory:Memory area within each main session, which can be accessed by programs using the EXPORT and IMPORT statements and which remains available using a series of program calls (call sequence).
What is the meaning of invoice?

Invoice is a statement which contains the under mentioned details compulsorily. 1. Invoice Numner 2. Invoice date 3. Name and address of the person making the invoice ( Seller of goods and service) 4. Name and address of the person to whom invoice is made. ( Buyer of goods and service) 5. Description of goods / services involved 6. Applicable rates and taxes with percentages 7. Rate of the goods / services 8. Quantity of the goods and services 9. Quality or any other specifications

10. Price / Value of the goods and services 11. Invoice must be signed by the person making it 12. Terms and conditions of making the payment

1.Invoice means list of goods/serviceprovided. 2.With a statement of the payment that is due.

Posted by: m.vijayalakshmi

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1. Invoice is a statement bearing the detail of the goods delivered or service provide to certain bearer of the goods or service.

Posted by: HARISH VASHISTHA

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An invoice or bill is a commercial document issued by a seller to the buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided the buyer. An invoice indicates the buyer must pay the seller, according to the payment terms. In the rental industry, an invoice must include a specific reference to the duration of the time being billed, so rather than quantity, price and discount the invoicing amount is based on quantity, price, discount and duration. Generally speaking each line of a rental invoice will refer to the actual hours, days, weeks, months etc being billed. From the point of view of a seller, an invoice is a sales invoice. From the point of view of a buyer, an invoice is a purchase invoice. The document indicates the buyer and seller, but the term invoice indicates money is owed or owing. In English, the context of the term invoice is usually used to clarify its meaning, such as "We sent them an invoice" (they owe us money) or "We received an invoice from them" (we owe them money).

Posted by: Anand

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Invoice is nothing but a credit sales made. or Invoice is a statement which contains the details of the qty of goods sold and price of goods/products, terms and conditions for payment particulars.

Posted by: Mani Kumar

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An invoice is a document raised by a supplier on a customer demanding payment against the goods supplied or services rendered. It contains the details of products, quantities and agreed prices for products or services which the supplier has supplied or provided to the buyer. An invoice indicates that, unless paid in advance, payment is due by the buyer to the seller. Invoices are often called bills.

Posted by: Ibrahim Khaleel

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It is an written document prepared by seller or consignor. It contains description of goods, quantity, rate, all duties taxes and others sale terms & condition.

Posted by: Basavaraj M Jadegondar

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could you please give me more information about invoices issued and received and other examples on them.

Posted by: Bwanteiti

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It is a proof which is clear that we sale the good on fixed amount.It is describe amount,rate,date,name of debtor,tax condition of payment.

Posted by: Shahu dinesh Manoharprasad

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invoice is a business document which is prepared when one se goods to another.

Posted by: leenapriyadarsini

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invoice is nothing but in a simple language its a bill which is provided by the saler to the customer
Explain about Accounts Payable.

Accounts payable is nothing but " money which a company need to pay to vendors for goods and services purchased on credit. 1.Accounts payable is a current liability of a company. 2. This item appears on liability side of a balance sheet

Posted by: hari

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Accounts payable is an account or a file that is maintained by a person or a company owes to suppliers, but has'nt paid yet until they receive invoice .After receiving invoice they 'll remove from the account.Thus, the A/P is a form of credit that suppliers offer to their purchasers by allowing them to pay for a product or service after it has already been received.

Posted by: sirisha

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Accounts payable means when we receive the bills from the sundry creditors for purchase or services we have to pay those bills is known as bills payable either its a purchase bill or telephone bills .

Posted by: Sameer

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In accounting, accounts payable are debts resulting from purchasing assets or receiving services on credit or on an open account. You have accounts payable when you have not yet paid for the assets or services you have received.

Posted by: vandana k ashok

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The Accounts Payable application component records and manages accounting data for all vendors. It is also an integral part of the purchasing system: Deliveries and invoices are managed according to vendors. The system automatically triggers postings in response to the operative transactions. In the same way, the system supplies the Cash Management application component with figures from invoices in order to optimize liquidity planning.

Posted by: venkat pallepu

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Accounts payable is a file or account that contains money that a person or company owes to suppliers, but has not paid yet (a form of debt). When you receive an invoice you add it to the file, and then you remove it when you pay. Thus, the A/P is a form of credit that suppliers offer to their purchasers by allowing them to pay for a product or service after it has already been received.

Posted by: tapas

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Accounts payable is a short term liability of the firm on return which the firm has acquired goods or services and promises to pay upon invoicing on the agreed period of time.

Posted by: Nasr

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End to end accounts payble includes various stages for making a payment of an invoice recieved from a vendor. The AP activities are starts with the reciept of the invoice from a vendor and ends when it gets paid. The varios stages in an AP process as listed below: 1)Recieving the reciept of invoice from vendor. 2)Scanning the image in workflow. 3)Processing the invoice with the help of ERP system. (As per software) 4)Quality check will be done 5)Resolving to park the invoice. 6)Proposal of payment. 7)Payment will be done to vendor, as per the due date.

Posted by: Mani Kumar

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Companies have to buy goods (raw materials, machinery, computers etc) and services for running their business. In most cases, companies do not pay the suppliers (also called a vendor) immediately after the purchase of goods and services. Instead, they get credit from the supplier, which means the supplier allows them to make payment after a period of time. So, the purchasing company owes money to the supplier from the date of the purchase till the date the payment is made. Money owed is called a liability and this liability for payment due on goods and services is called Accounts Payable. In simple terms, Accounts Payable is money due to supplier for purchase of goods or services on credit.

Posted by: Ibrahim Khaleel

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Accounts payable is an outstanding debt which we have to pay after a period of time decided between the suppliers.. as soon it get recovers the A/R accounts get terminated by the following amount

Posted by: kavita rohilla

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Money which a company owes to vendors for products and services purchased on credit. This item appears on the company's balance sheet as a current liability, since the expectation is that the liability will be fulfilled in less than a year. When accounts payable are paid off, it represents a negative cash flow for the company.

What items of information do you need before you can approve an invoice for payment?

1. Have the goods been received in good order ? 2. Is the quantity/price correct ? 3. Were you expecting any discount ? 4. Is the delivery charge correct ?

1. Rates to be tallied with Purchase order. 2. If tallied with our PO,make MRNs (Material receipt Note) will be prepared by Stores) 3. On the Basis of MRNs+Bills Value will be tallied then we make payment to Supplier

Posted by: Y S S PRASANNA KUMAR

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The steps we would take before paying the invoice:1.receipt the delivery note 2.chk the goods with our PO 3.Quanity of receipt of goods 4.Chk the bill amount have it verified by our PO

Posted by: kavita rohilla

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After verifying the basic details like rate, qty and quality, we need to check the fund availability to make the payment for an invoice

Posted by: Sarala

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Things to be noted before paying an invoice are: 1. Check whether it is a tax invoice. 2. Whether invoice has PO and its copy (po is must in case of huge payment). 3. Resp. parts or part no.s with their resp. prices shd be checked and matched.

4. An approval (from an app.person)whether the parts have been recd. 5. Check for any discount and proceed with the payment.

Posted by: N.S.Sridevi

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The steps we would take before paying the invoice:1.receipt the delivery note 2.chk the goods with our PO 3.Quanity of receipt of goods 4.Chk the bill amount have it verified by our PO

Posted by: Nayan

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Foll.points need to be kept in mind before approving invoice for payment. 1.Ensure that the Invoice rate and Quantity are in line with PO rate and Quantity. 2.Goods received Note and Delivery challan need to be verified. 3.Tax portion in the invoice need to be correlated with PO. 4. In case partial goods are received then part-payment need to be made.

Posted by: Rajendran

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1.what purchased order we r given, that total goods recived r not in correct order once check. 2.goods qty,and vat persentage check. 3.any stock returens is there one check 4.take debits 5.pay the invoice amount

Posted by: Swathi

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1.check Have the goods been received in good order ? 2. check receipt the delivery note 3. chk the qty, rate with our PO condition 4.Tax invoice should print in top of bill 5.pan card no, service tax no, excise, vat no should print on bill, 6.declaration of sales tax also print on bill 7.check the taxation protion with our p.o 8.Check for any discount and proceed with the payment
What do you understand by Intercompany Settlement?

A key functional area of SAP for Utilities that supports cross-company exchange of settlement data based on international standards such as EDI, XML, and Microsoft Excel. Intercompany data exchange manages data transfer between retailers, distributors, and independent service operators with special regard to the requirements in deregulated markets.

It means to know the exact profitability of each division. Whateever they take in terms of funds,items should be reconciled at the end.

Posted by: Anoop Kapoor

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Intercompany settlement is a type of adjustment of funds made between two parental companies. lets take an example: If Co.A Sell goods worth $1000.00 to its own Subsidry Co.B and in the meanwhile Co.B sell goods worth $8000.00 to Co.A(it has to be in same FY), then at the end of the Financial Year Co.B has to pay only $2000.00 to Co.A. Co.A will pass an adjustment entry in their books for the difference amount. (In case of other vendors this procedure cannot be followed)
What is FBT(Fringe Benefit Tax)??

The tax payable on a non-salary benefit provided to an employee or an associate of the employee. The employer is liable to pay any FBT and may choose to recover the FBT amount from the employee.

Tax payable by the employer on the eminities provided to employees and maintenance of vehicles,telephone billsand travelling and conveyance charges on 20% of the expenditure @ 30% tax. It will not be allowed as deduction from gross total income of the business organisation. Any how it is abolished from the financial year 2009-10 onwards

Posted by: satyanarayana Raju

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The tax payable on a non-salary benefit provided to an employee or an associate of the employee. The employer is liable to pay any FBT and may choose to recover the FBT amount from the employee. -------------------------------------------------------------------------------Tax payable by the employer on the eminities provided to employees and maintenance of vehicles,telephone billsand travelling and conveyance charges on 20% of the expenditure @ 30% tax. It will not be allowed as deduction from gross total income of the business organisation. Any how it is abolished from the financial year 2009-10 onwards
Tell us about an invoice discrepancy that you discovered and how you resolved the discrepancy.

Discrpancies in invoices could be many. Like there might a incorrect amount entered, incorred date or account code combination entered etc. If the amount entered is not matching with the purchase order then the system will place the invoice on hold which will have to be released before going further. If there is no purchase order matching and if you have entered wrong amount and if it is approved then you can reverse the distribution line and create a fresh line for the correct amount.

Discrepancies in invoices could be many. Like there might a incorrect amount entered, incorrect date or account code combination entered etc.If the amount entered is not matching with the purchase order then the system will place the invoice on hold which will have to be released before going further. If there is no purchase order matching and if you have entered wrong amount and if it is approved then you can reverse the distribution line and create a fresh line for the correct amount and in each company there are some prerequisites to process the bills like quality certificate,original bills etc.These must be filled on otherwise the bill should not be processed.

Posted by: MOHNISH SHARMA

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There might be tax related discrepencies in the invoice which is related to the tax rates and you have to also see which type of tax are applicable in such invoice.I mean to say it can be service tax,sales tax,vat or CST.
Tell us about your experience in accounts payable.

Accounts Payable is mainly concerned with effective management of creditors. Effective management of creditors calls for correct booking of invoice under right accounting heads and making timely payments so that maximum available credit limit and discount is taken. If the accounts are not booked properly it will result in improper final staments. In Oracle Payables you cannot make any payment unless the payment is supported by an valid invoice i.e u need to book the liability before making any payment. It supports 2 way, 3 way and 4 way matching.

Accounts Payable is mainly concerned with effective management of creditors. Effective management of creditors calls for correct booking of invoice under right accounting heads and making timely payments so that maximum available credit limit and discount is taken. If the accounts are not booked properly it will result in improper final staments. In Oracle Payables you cannot make any payment unless the payment is supported by an valid invoice i.e u need to book the liability before making any payment. It supports 2 way, 3 way and 4 way matching
Can you give a sample Process Flow for Procure to Pay Cycle?

Step1: Step2: Step3: Step4: Step5:

Receipt of Invoice and goods QC approval Verifcation with po terms creation of laibiltiy payment after due date

Posted by: lgovindarao

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Step1 Step2 Step3 Step4 Step5 Step6 Step7

User Creates Requisition Electronic approval cycle Purchase order created PO sent to supplier Supplier Delivers product or service to buyers GRN(Goods received Note) received Invoice received

Step8 Invoice booked (3 way match) Step9 payment to supplier

How many invoices have you handled on a monthly basis?

We can handle around 1000 - 1500 invoices depending on the number of entries

What do you understand by Open Item Managed Account?

Open item management ensures that all items that have not yet been cleared are available in the system. Only after every open item in a document is cleared can a document be archived.
What is a IFA?

Institute of financial accountants

What is debit and credit from the customer point of views

From the customer point of view:DEBIT is the expenditure which he incurrs( purchase of a car, car account).CREDIT is the payment ,cash or bank account ( if payment paid thru cheque) In this senario, customer will be personal A/c. So Dr the Receiver Cr the Giver From the Customer's point of view Debit is what he receives or whom ever pays to him and Credit is what goes out or to whom he pays. In case of Expenduture Debit is what he spent and credit is what he earned.
What is meant by liabilities ?

liability in the sense the company is liaable to pay then it could be regarded as a liability this could be explained as assets -capital=liability

Posted by: ravindra

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Liabilities are obligations or debt an inter prises must pay in money or services at some time in a future.

Posted by: manjeet singh

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That all the things comes in liabilites whatever is owed for the company purposes from bank or any other institutions.
How does the payment mechanism work?

The open items of an account can only be cleared once you post an identical offsetting amount to the account. In other words, the balance of the items assigned to each other must equal zero.During clearing, the system enters a clearing document number and the clearing date in these items. In this way, invoices in a vendor account are indicated as paid, and items in a bank clearing account are indicated as cleared. You generally use the payment program to clear invoices. Manual clearing of open items is therefore not usually necessary. However, you will sometimes have to clear items manually if, for example, you receive a refund from your vendor or you have set up a direct debit procedure.
What steps would you take before making a payment?

We should veryfy that any advances have been made. See that all the services/goods delivered according to bill Any quiery is there to attend on that ultimately can be made payment

Before releasing payment, items delivered should be matched according to bill as well as our purchase order.Payment terms should also keep in mind. In short GRN & puchase entry should be made .
What is the difference between billable and non-billable expenses?

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-billable expenses are the expenses incurred by you for carry out your own business / duties and responsibilities.

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-billable expenses are the expenses incurred by you for carry out your own business / duties and responsibilities

How is a PO (Purchase order created)?

A document or form used by a customer to issue an order for goods or services.

I want notes on 1.Procure to pay cycle with accounting entries 2.order to cash 3.record to report 4.Sox

Posted by: vikram ranka

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To create PO's different companies follow different procedures by web based applications viz., EOS/WORF etc., Initially the requstor send his requirements to sourcing team to get a list of vendors who provides requested service with price, Requestor will finalize the supplier and upload his requirement details in the system which inturn will create a remedy request, with that purchasing team will update all the required fields and send it to requestor for thier approval, once requestor approves it and will go to finance team for thier approval, where they will upload all necessary GL & CC details, once it get approved, it will directly import data into purchasing system which will create PO.

Posted by: chinnaguntupalli

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A purchase order (PO) is a commercial document issued by a buyer to a seller, indicating the type, quantities and agreed prices for products or services the seller will provide to the buyer. Sending a PO to a supplier constitutes a legal offer to buy products or services. ...

Posted by: Sathya

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Purchase Order is a document issue by a buyer to seller for the goods purchase . It contain details all the details of purchases like unt price quantity etc.

Posted by: Kailash Nawander

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PO is a legal document , which fix the term & condition between the buyer & seller to fruitful each other.& have a heath business reatation for ong lasting. diffent nature of company have accordingly terms & condition.

Posted by: hitesh

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A document or form used by a customer to issue an order for goods or services. -------------------------------------------------------------------------------To create PO's different companies follow different procedures by web based applications viz., EOS/WORF etc., Initially the requstor send his requirements to sourcing team to get a list of vendors who provides requested service with price, Requestor will finalize the supplier and upload his requirement details in the system which inturn will create a remedy request, with that purchasing team will update all the required fields and send it to requestor for thier approval, once requestor approves it and will go to finance team for thier approval, where they will upload all necessary GL & CC details, once it get approved, it will directly import data into purchasing system which will create PO. -------------------------------------------------------------------------------A purchase order (PO) is a commercial document issued by a buyer to a seller, indicating the type, quantities and agreed prices for products or services the seller will provide to the buyer. Sending a PO to a supplier constitutes a legal offer to buy products or services. -------------------------------------------------------------------------------Purchase Order is a document issue by a buyer to seller for the goods purchase . It contain details all the details of purchases like unt price quantity etc. -------------------------------------------------------------------------------PO is a legal document , which fix the term & condition between the buyer & seller to fruitful each other.& have a heath business reatation for ong lasting. diffent nature of company have accordingly terms & condition.

Posted by: manas

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PO means purchase order. po is commercial document which is issued by the purchaser to seller for ordering goods or services. PO creates legal agreement between purchaser and seller.

Posted by: CHANDU

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To create PO's different companies follow different procedures by web based applications viz., EOS/WORF etc., Initially the requstor send his requirements to sourcing team to get a list of vendors who provides requested service with price, Requestor will finalize the supplier and upload his requirement details in the system which inturn will create a remedy request, with that purchasing team will update all the required fields and send it to requestor for thier approval, once requestor approves it and will go to finance team for thier approval, where they will upload all necessary GL & CC details, once it get approved, it will directly import data into purchasing system which will create PO.

Posted by: chinnaguntupalli Contact chinnaguntupalli -------------------------------------------------------------------------------A purchase order (PO) is a commercial document issued by a buyer to a seller, indicating the type, quantities and agreed prices for products or services the seller will provide to the buyer. Sending a PO to a supplier constitutes a legal offer to buy products or services. ...

Posted by: Sathya Contact Sathya -------------------------------------------------------------------------------Purchase Order is a document issue by a buyer to seller for the goods purchase . It contain details all the details of purchases like unt price quantity etc.

Posted by: Kailash Nawander Contact Kailash Nawander --------------------------------------------------------------------------------

PO is a legal document , which fix the term & condition between the buyer & seller to fruitful each other.& have a heath business reatation for ong lasting. diffent nature of company have accordingly terms & condition.

Posted by: hitesh Contact hitesh -------------------------------------------------------------------------------A document or form used by a customer to issue an order for goods or services. -------------------------------------------------------------------------------To create PO's different companies follow different procedures by web based applications viz., EOS/WORF etc., Initially the requstor send his requirements to sourcing team to get a list of vendors who provides requested service with price, Requestor will finalize the supplier and upload his requirement details in the system which inturn will create a remedy request, with that purchasing team will update all the required fields and send it to requestor for thier approval, once requestor approves it and will go to finance team for thier approval, where they will upload all necessary GL & CC details, once it get approved, it will directly import data into purchasing system which will create PO. -------------------------------------------------------------------------------A purchase order (PO) is a commercial document issued by a buyer to a seller, indicating the type, quantities and agreed prices for products or services the seller will provide to the buyer. Sending a PO to a supplier constitutes a legal offer to buy products or services. -------------------------------------------------------------------------------Purchase Order is a document issue by a buyer to seller for the goods purchase . It contain details all the details of purchases like unt price quantity etc. -------------------------------------------------------------------------------PO is a legal document , which fix the term & condition between the buyer & seller to fruitful each other.& have a heath business reatation for ong lasting. diffent nature of company have accordingly terms & condition.

Posted by: manas Contact manas -------------------------------------------------------------------------------PO means purchase order. po is commercial document which is issued by the purchaser to seller for ordering goods or services. PO creates legal agreement between purchaser and seller.
1. If assume we paid 50/- as an advance for worth or 100/- goods, but our supplair sent only up to 25/- worth of goods. Know My question is that we want to close the transaction now. How it possible? 2. what about VAT like Tax Setups in AP and AR? 3. what about the SWEEP command in AP?

First there shouldn't be assumptions in transactions. If you received 25 of worth in exchange of 50 advance you can close it for a temp. The transaction entry would be... Supplier A/c Debit 25 Received Goods A/c Debit 25 Cash paid A/c Credit 50

We should pass two entries: 1. Sundry Creditors a/c dr 50/To Cash/Bank a/c cr 50/Being the advance paid to sundry creditor(name of the seller) 2. Purchases a/c Dr 25/VAT a/c(12.5%) a/c 3.21/Packing&Forwarding a/c 21.88/To Sry Creditors a/c CR 50/Being the goods recd and the incidental taxes and exp accounted
What is a Parked Report?

You can use document parking to enter and store (park) incomplete documents in the SAP System without carrying out extensive entry checks

Normally parking documents, will occur, when you are uploading invoices into SAp through spreadsheet uploads, to recheck the data which you entered, SAP will proivde you opportunity to change the fields untill it get posted.

Posted by: chinnaguntupalli

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parking of a document means just keeping a document a side

what is account?

accounts is basically collection and presentation of financial data.

Posted by: Anamika Saboo

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Accounts is a systematic procedure of keeping the books of accounts.

What is the difference between EFT & Wire?

The Payment methods Electronic and Wire are modes of Electronic Fund Transfers . These modes might differ in the formats and documents involved at the site level. WIRE is a kind of outdated method used by remote sites for payments in ORACLE. Jargon might be different but the actual mode is same of either of them.

EFT and WIRE are the most popular form of electronic payment method. EFT stands for electronic fund transfer and it is one of the fastest mode of electronic payment after WIRE. EFT is a batch oriented mechanism for transfering funds from one bank to another because of which clearing & settlement takes around 2 to 4 days. On the other hand, WIRE is a RTGS i.e. real time gross settlement system of making the fund transfer on real time and gross basis. Clearing and settlement happens on the same day. WIRE is more expensive and faster than EFT.

Posted by: Sandy

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EFT and WIRE are the most popular form of electronic payment method. EFT stands for electronic fund transfer and it is one of the fastest mode of electronic payment after WIRE. EFT is a batch oriented mechanism for transfering funds from one bank to another because of which clearing & settlement takes around 2 to 4 days. On the other hand, WIRE transfers payment directly to the vendors account on the NBD (next business day).Sometimes these expenses has to shared (partially/fully) by the vendor. WIRE is more expensive and faster than EFT. Wire is used for outside vendors (not belong to the same country)and EFT is used for Local Vendors.
what do they mean by account payable

Account payble is the obligaion that a business owes to its creditors for buying goods&services.It is the unpaid invoices,bills or statements for goods&ervices rendered by ouside contractors,vendors&suppliers.

Posted by: Himanshi sikka

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Account payable means to pay the accounts.

What do you mean by WCC?

Winter compensation from contributions

Bank loan against stock inventory is payable account or not.?

Accounts Receivables Interview Questions & Answers

What is reconciliation?

You should have recorded in your cash books all amounts you?ve actually received and payments you?ve actually made. However, the cash books may be incomplete as your bank may have put extra transactions through your account, such as: bank fees or interest charges direct debits (payments) and direct credits (receipts). Doing a regular bank reconciliation will allow you to: take into account any extra transactions your bank puts through your account, and check and record any errors or omissions. By regularly doing a bank reconciliation (say monthly) you can be more confident that your records contain all the information you need to prepare your income tax return and activity statements.

reconciliation- This is a statement prepared to find the reason for difference in any two balance. eg 1)bank reconciliation is prepared to find the reason of difference between the passbook & cash book balance 2)Stock reconciliation is prepared to the reason of difference between the physical balance & book balance or to find the stock balance as on certain date. etc

Posted by: Abhisek Chatterjee

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Reconcillation is not thing but matching two balances. B.R is matching the Companies bank account with the bank passbook.
What is full form of SOX ?

sarbanes oxley means is a act refer for providing information about the finance & accounting to the public. It simply says" finance & accounting discosure information".
You?ve been asked to prepare a bill for services. What information should be included in the bill?

Service Provider's Details (i.e) Organations name and address. Service Receiver's Details (i.e) Organations name and address. Details of the service (i.e) for eg: Advertisement charges/Dying charges Tax (i.e) Service Tax on total chargable amount and cess or sur-charge on service tax. And if there is any Expenses or abatements incurred by the service receiver less all those things and calculate service Tax and the cess for the balance amount.

- services provided - receive amount for services provided - received money is instalment basis or through down payment - credit limit given for services provide - service tax should be included for amount received
What is the difference between finance and accounts? most of the companies having a different section like finance and accounts. why they aren't had only single section neither finance nor accounts?

Finance:It is the branch of economics that studies the management of money and other assets.In simpler terms it can be defined as the commercial activity of providing funds and capital.It addresses questions like -- what funds are required by the org? How they can be raised? How they have to be allocated etc<br><br>Accounts: It is the occupation of maintaining and auditing records and preparing financial reports for a business. Accounts provides quantitative information about finances. It addresses issues like what amount of funds have been allocated to various activities, how the book-keeping is being done etc<br><br>Both functions are distinct but complimentary to each other.<br><br>Finance and accounts are highly specilized and distinct areas and hence most organizations have seperate sections of finance and accounts.<br>

Finance is the Pre mortam study of the organizations fund or asset requirement, whereas accounts is the post mortam job of recording what has happened.

Posted by: abhisek Chatterjee

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account means summary of business transactions where it will be usefull for every business<br><br>finance involves budjeting expenses,tax ,planning , decession making were deeply involved<br>

Posted by: ravindra

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? Finance: it is an economic activity. it involves managing the funds, how to raise the funds & its allocation in different departments like production, marketing, hr etc.it includes all activity related to money and management of money. it tells how business can raise funds where it can be used. Accounting: it is an art of keeping the records of all transactions took place in the business activity. this is the art of recording classifying summarizing analyzing so that we can analysis the performance of company. accounts means recording classifying and summarising the data that the money and moneys worth which in part business transactoins. finance means analysing and interpreting the results

Posted by: vamsi

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Finance means funds from the sources and utilise the source in right place at right time.and to prepar right budget. Account means keeping the record after the transaction is complited.Finance is the base thing of accounting. In small scale industries there has no probblem to maintain both finance & account in one depatment But in large scale there has so much problem to handle both has one department.

hence most organizations have seperate sections of finance and accounts.

What is the difference between debenture holders and creditors?

Debentureholder are those who provides long term loan at specific interest rate in term of cash and creditor provides only short term credit in term of cash for purchasing of goods.

debenture holder is the holder who holds the debenture as he gets only fixed rate of intrest as he is not concerned with profits and he has no right to participate in meeting<br><br>creditor in the sense the person to company is liable to pay can be regarded as creditor
Is push down accounting accepted under generally accepted accounting standards?

Yes, in some cases. For example: The Federal Financial Institutions Examination Council (the "FFIEC") approved a reporting requirement, effective October 1, 1989, to use push down accounting in certain acquisitions of national banks, state member banks and insured state nonmember banks. This reporting requirement is an addition to the Glossary to the Instructions to the Consolidated Reports of Condition and Income ("Call Report").
Key Difference between Indian accounting standards and international accounting standards is..

In international accounting LIFO and extraordinary items are prohibited

What is Trail Balance?

A List of Balances of A/C'S of Ledgers is called a Trail Balance.

Is there a difference between accounting for conversion of bonds and accounting for the conversion of preferred stock?

Bonds have discounts and premiums and accrued interest. Preferred Stock does not.
I am trying to understand the connection between cost structure and contribution margin to make a profit?

Contribution is nothing but the selling price less the variable cost relation to that prodcut. Profit earned by any orgination is the figure which contribution marging gives after adjusting the fixed cost .
What are debentures?

A Debenture is " A certificate of agreement of loans which is given under the company's stamp and carries an undertaking that the debenture holder will get a fixed return and the principal amount whenever the debenture matures.

Debenture is " A certificate of agreement of loans which is given under the company's stamp and carries an undertaking that the debenture holder will get a fixed return and the principal amount whenever the debenture matures.

Posted by: ramesh

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in simple word we can say , debenture are like a bond if govt takes money from public it called bond and if privte insititution takes then it called debenture.

Posted by: ashish sahu

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Debenture is a contract between two parties at predetermined rate of interest, periodicity of the contract and repayment of the principal amount by the borrower to the lender.

Posted by: Nileshs

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Debenture is a certificate issued by the company under its seal acknowleging a debt due by it to its holder and debentures are freely transferable.
What is the entry for deprecation?

Depreciation Account Dr Assets Account Cr OR Depreciation Account Dr Accomulated Deprecitation Account Cr NOTE:If company do not open a seperate a/c for depre.then we follow the first one.

Posted by: anandmohan s. singh

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It is the permanent and gradual decrease in the value of an asset due to usage of it, lapses of time and wear and tear of an assest

Posted by: P B SHEKAR

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Depreciation A/c Dr To fixed Assets A/c

Posted by: Rajeev Yadav

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Asset a/c--dr to-- P&L a/c . Or Depreciation a/c--dr to--Asset a/c

Posted by: sathish

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Depreciation A/c....Dr To Fixed Asset A/c

Posted by: naresh

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p&L a/c Dr to deprecation a/c and

depreciation a/c dr to assest a/c

Posted by: ankit agarwal

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Depreciation A/c Dr To Fixed Asset A/c (Fixed assets means which use more then 1 years)

Posted by: Gopal Bhanja

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Depreciation A/c....Dr To Fixed Asset A/c (Fixed assets means which stay more then 1 years)

Posted by: Gopal Bhanja

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If it is a company, Depreciation a/c Dr To Accumulated Depreciation a/c Other wise, Depreciation a/c Dr To Fixed Asset a/c
What is Call Option?

Calls give the buyer the right but not the obligation to buy a given quantity of the underlying asset, at a given price on or before a given future date.
What did the S&P 500 close at yesterday?

Another question designed to make sure that a candidate is sincerely interested in finance. This question (and others like it - "What's the Dow at now?" "What's the yield on the Long Bond?") can be expected especially of those looking for sales and trading positions.

Who is a more senior creditor, a bondholder or stockholder?

The bondholder is always more senior. Stockholders (including those who own preferred stock) must wait until bondholders are paid during a bankruptcy before claiming company assets.
What is Bull Market?

A financial market of a group of securities in which prices are rising or are expected to rise.
What Is Inflaition?

In economic terms, inflation is the rise in the prices of goods and services in the given economy over a period of time. As the prices rise, each unit of the country's currency will buy fewer goods and services.

when the purchasing power of a currency go down then more money comes to the market it is called inflation.
What is the difference between asset management and invest management?

Investment and asset are really close in meaning. Investment is when you put your money in stock, bond or other financial instruments. Whereas Asset is what you own generally reffered to land, proprietorship , factory, etc.

Investment is also known as assets. bother terms are two sides of coin. But in practicle life whenever we heard the name assets, it means a assets in which can be seen, like Land & building, Plant & Machinary, computers, powebackups, Vehicle etc and investment mean's Investment in Stock, Bonds, Insurance etc.
What is Retained Earnings?

When a company or corporation earns a profit or surplus, that money can be put to two uses it can either be re-invested in the business called retained earnings or it can be paid to the shareholders as a dividends.

the profits which earned by the company can be reinvested in the business,without giving the dividends to the shareholders that year

Posted by: santhu

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Earnings not paid out as dividends but instead reinvested in the core business or used to pay off debt. Also called earned surplus or accumulated earnings or unappropriated profit.
Why would an investor buy preferred stock?

An investor that wants the upside potential of equity but wants to minimize risk would buy preferred stock. The investor would receive steady interest-like payments (dividends) from the preferred stock that are more assured than the dividends from common stock. (2.) The preferred stock owner gets a superior right to the company's assets should the company go bankrupt. (3.) A corporation would invest in preferred stock because the dividends on preferred stock are taxed at a lower rate than the interest rates on bonds.
What Is The Difference Between JOURNAL ENTRY & LEDGER

A journal is also called as a book of prime entry. transactions occured are first entered in this book to show which accounts should be debited and which should be credited. on the basis of entries made in the journal, accounts are prepared, the book which contains the accounts is called a ledger. transactions entered in the journal are classified according to their nature and posted in their respective accounts in ledger. it is also called as book of final entry.

A journal is also called as a book of prime entry. transactions occured are first entered in this book to show which accounts should be debited and which should be credited. on the basis of entries made in the journal, accounts are prepared, the book which contains the accounts is called a ledger. transactions entered in the journal are classified according to their nature and posted in their respective accounts in ledger. it is also called as book of final entry.
What is Demat Account? what is the use of it?

Demat means Dematerialisation of share, in simple it is an account with which a person can trade in security market without which a person cannot buy or sell any share in security market.
What kind of stocks would you issue for a startup?

A startup typically has more risk than a well-established firm. The kind of stocks that one would issue for a startup would be those that protect the downside of equity holders while giving them upside. Hence the stock issued may be a combination of common stock, preferred stock and debt notes with warrants (options to buy stock).
What is Discount Cash Flow Management?

The DCF for an investment is calculated by estimating: the cash that you will have to pay out, and the cash which you expect to receive back. The timeframes that you expect to receive the payments must also be estimated. Each cash transaction must then be recalculated, by subtracting the opportunity cost of capital between now and the moment when you will pay or receive the cash.
What is Beta?

A measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole.
Why one rupee note is signed by the ministry of finance? is governer has the right to sign this note? is there any interference by the RBI?

as rupess is the currency of our country and only govt has the authority to issue indian currency it has been signed ny ministry of finance, all other notes are bearer notes which are signed by governor.
Being the finance manager being of a company how will you make finance forecasting ?

First I will review the previous year's financial statements to get an Idea about the financial operations. Then will discuss with the management about the current year's targets (viz. sales / services) & their growth expectations. Based on that will prepare provisional P&L acct & Balance sheet. I also will check whether there is any posibility in cost cutting and make the adjustments accordingly to arrive at expected profit.

Initial cash inflow & outflow would be prepared based on forecasted revenue & expenditure, month on month variance of actual vs projected would be analyised for immediate corrective action & also for future use as same would be used as historical trend.
What is the punch line of job?

No matter how efficiently goods / services are produced, if they cannot be delivered to the customer in the quickest possible time it is vain.

What is EPS?

Earning per share thats portion of stehcompay profit..

eps is the profit after tax is divided by the total no. of outstanding shares of a company in simple word it show that what is the earning of company per share,here share means those shares which are available in market for buy and sell in the market

Posted by: mayank savita

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The amount of earning attibruitable to each equity sahre.the portion of companies profit is allocated to each outstanding share of commonstock. it is an indication of firms profitability.
What is meant by Take Over ?

In business, a takeover is the purchase of one company by another.

What is Networth?

Networth is the total assets minus total liabilities of a company.

Networth means equity and it is the current assets minus current liabilities of a company.

Posted by: vinu shankar

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networth is total company or organizations current Assets minus current Liabilities

Tell me about an experience in which you had to use tact?

Tact and diplomacy are important qualities in retail banking ? the customer is (almost!) always right. You may have to tell an account holder diplomatically why they can't have a loan for example, without provoking them into moving their account elsewhere. To answer this type of question, think through everything you have done in the last five years ? school, university, sports, clubs, societies, travel, vacation jobs etc. and try to

think of situations where you had to demonstrate this and other qualities ? do this before your interview. If you have completed a number of employer application forms, then you should already have done this as this type of question is now common on application forms.
Why did the stock price of XYZ company decrease yesterday when it announced increased quarterly earnings?

A couple of possible explanations: 1) the entire market was down, (or the sector to which XYZ belongs was down), or 2) even though XYZ announced increased earnings, the Street was expecting earnings to increase even higher.
What significant trends do you see in the future for our industry?

This is your chance to shine. You will be fully familiar with the economic situation as it relates to banking or how recent legislation affects it. How will you be familiar? Because you will have done your research and preparation properly. You will have talked to people about the employer, you will have been reading trade magazines, journals and newspapers, and you will have poured over company brochures, annual reports or anything else you can get your hands on direct from the employer. You could talk about tele-banking, the limited range of services now being offered by the supermarket banks, the effects of technology and competition and much more. The Employment Files in the Careers Service library are an obvious first place to look. The Internet is also an excellent source of information. Be ready to have more than one significant trend to discuss!
What was the most challenging situation (with clients) that you faced during the stock market falls?

The recession and the stock market fall are still fresh in everyone's mind. And being a person in the financial business, you are bound to experiences during the stock market fall. This question is asked not as much as to know whether you can handle such situations. The best way to answer this question is to be truthful about any situation that you came across as the stock market fell.

The Most Challenging situation while facing the stock market fall(for clients) is the dilema whether to hold stockss for anticipated apprehension in future or to mark a strict stop loss due to crashing prices.
When should a company buy back stock?

When it believes the stock is undervalued and believes it can make money by investing in itself. This can happen in a variety of situations. For example, if a company has suffered some decreased earnings because of an inherently cyclical industry (such as the semiconductor industry), and believes its stock price is unjustifiably low, it will buy back its own stock. On other occasions, a company will buy back its stock if investors are driving down the price precipitously. In this situation, the company is attempting to send a

signal to the market that it is optimistic that its falling stock price is not justified. It's saying: "We know more than anyone else about our company. We are buying our stock back. Do you really think our stock price should be this low?"

Company can buyback it's share mainly two times, 1) when the shares are undervalued and 2) when other company is doing hostile takeover on your company. so this are the two main points when company can buyback their shares.
When should a company issue stock rather than debt to fund its operations?

There are several reasons for a company to issue stock rather than debt. The first is if it believes its stock price is inflated, and it can raise money (on very good terms) by issuing stock. The second is when the projects for which the money is being raised may not generate predictable cash flows in the immediate future. A simple example of this is a startup company. The owners of startups generally will issue stock rather than take on debt because their ventures will probably not generate predictable cash flows, which is needed to make regular debt payments, and also so that the risk of the venture is diffused among the company's shareholders. A third reason for a company to raise money by selling equity is if it wants to change its debt-to-equity ratio. This ratio in part determines a company's bond rating. If a company's bond rating is poor because it is struggling with large debts, they may decide to issue equity to pay down the debt.
Why would a company distribute its earnings through dividends to common stockholders?

Regular dividend payments are signals that a company is healthy and profitable. Also, issuing dividends can attract investors (shareholders). Finally, a company may distribute earnings to shareholders if it lacks profitable investment opportunities.

a stokholder buy shares to get profit so if he will not get the return he can swith over to other company's share. it bad for co.

Posted by: sagar gupta

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by issuing dividends to the shareholders increases the goodwill to the co.everyone invests the money where they earn the profits periodically
What is Preference Capital?

Preference Capital is the capital which carries preference over Equity capital at the time of Payment of dividend and at the time of winding up of the comapany.

What Is EFT?

EFT is short for Electronic Funds Transfer. An EFT is a method of transferring money from one bank account directly to another account without any paper money actually changing hands. The two accounts do not have to be in the same bank.
What is the difference between real money & nominal money?

Nominal money is related to the measure of counting. nominal<br>figure is what is written on the bill. where as real money<br>relates to it's purchasing power.<br>for eg:<br>if 10 units in nominal money can buy 2 chocolates in 1980 and <br>1 chocolate in 2000, in the same way, 10 units of nominal<br>money is 10units of real money in 1980 and 5 units of real<br>money in 2000.
what is the difference betwen p & l ac and income & expenditure statement

P&L A/c is prepared for the Business Organization whose aim is to earn profit by running business whereas Income & Expenditure A/c is prepared for the non-Profit Organization,Trusts etc.
Different types of insurance

types of insurance: 1. Auto insurance 2. home insurance 3. health insurance 4. Disability 5. casualty 6. life 7. property 8. other types insurance 9. insurance financing vehicles 10. closed community self insurance

Life Insurance Medical Insurance General Insurance Marine Insurance Marine Hull Fire Insurance Catal insurance Home Insurance Shop insurance project insurance inventory Insurance vehicle Insurance

co-insurance third party Insurance Flood and earthquake Insurance

What is Demat Account? what is the use of it?

Demat means Dematerialisation of share, in simple it is an accout with which a person can trade in security market without which a person cannot buy or sell any share in security market.
What is accounting management?

Accounting management is the pratical application of management techniques to control and report on the financial health of the organisation. It involves the analysis, planning, implementation and cotrol of programs designed to provide financial data reporting for managerial decision making
What is CareCredit?s healthcare financing? How does it work?

CareCredit's healthcare financing is unique. Unlike a traditional credit card, CareCredit offers financing specifically for healthcare treatments and procedures. These treatments can include much needed family dental work, cosmetic surgery or even veterinary services for your family's pet. It's easy to apply for CareCredit financing online at carecredit.com and you find out instantly if you are approved. CareCredit also gives you a 'No Interest' option, as well as an Extended Payment Plan (EPP) which helps you select a payment plan that works for you. This convenience allows you to start using your CareCredit account immediately. CareCredit healthcare financing is accepted at 100,000 practices, which makes finding a participating provider simple. Don't know if your doctor, dentist, vet or chiropractor accepts CareCredit? The CareCredit website can help you find an approved provider in your area
can i carry indian currency to other countries and convert it there itself eg:- UK,USA?

Look your question is having little confusion. Still what I understand is like this. All most all the international markets are integrated through various technology and web. Thus it is well known as OTC(over the counter). Therefore you can carry any currency to foreign country and get it converted over there. Even banks offer this service....you can covert currency from your home through some clicks on your computer mouse.