Why choose accounting as a profession?

*accept or experience a challenge role

*Explore new opportunities 

*Differs all kinds of career options

2. what are the skills needed to work as an accountant?

* Excellent at math
* Strong analytical skills
*structured work style
*aptitude for technology 
*Detail 
*honesty and confidality

3 What is Microsoft Accounting professional?

Microsoft accounting professional is an accounting application that offers reliable and fast processing of accounting transactions. It also helps with financial analysis

4. what is the  abbreviations for the accounting terms debit and credit?

5. How many types of business transactions are there is accounting?

6. what is the balance sheet?
shows financial position of company or states all the liabilities and assets of the company at a certain point.

7. What is TDS?

TDS stand for Tax Deducation at Source. It is introduced to collect text from the company from where the employee income is generated. 

9. Where to show TDS in the balance sheet?
TDS is shown on the assets section, right after the head current asset,.

9. what is GST?

Goods and Services Tax, indirect tax

11. What is the key difference between inactive and dormant accounts?

Inactive accounts mean that accounts have been closed and will not be used in the future as well. Dormant accounts are those that are not functional today but may be used in the future

12. What is tally accounting?

It is the software used for accounting in small business and shops for managing routine accounting transactions.

13. How do you define departmental accounting?

14 Define fictitious assets?

These are the assets that cannot be shown or touch. Fictitious assets can only be felt, such as goodwill, rights etc

15. What is meaning of perpetual or periodic inventory system?

In the perpetual inventory system, the accounts are adjusted on a continual basis. In the inventory system, the accounts are charged periodically.

 

16. What is premises in accounting?

Premises refers to fixed that are shown in the balance sheet.

 

17. How many accounting standards are published by ICAI?

There is a total of 33 accounting standards published by ICAI

*to implement the same policies and practices in any country.

 

18. What is the basic accounting equation?

 

19. Define executive accounting?

Executive accounting is a type of accounting that is specifically designed for a business that offers services to users.