Question { Deloitte, 58263 }

What is ment by MIS reporting?

Answer

Management Information System or Management Informative
System,. Basically MIS is Called MIS Reports, MIS Can be
any reports pertains to particular period or date as per
management requirement.

Question { State Bank Of India SBI, 19076 }

Why do balance sheet always have same total of Assets and
liabilities..??? pls ans dis...my id is
business.ankita@gmail.com

Answer

Hi Dear,
all the above answers may be the reasons why B/s showing
the same ammounts.
but as per my knowledge in another corner b/s contains the
profit/loss entry which is not actual Asset or liability.
but if the company gains the profit we will show it in
liability side as company needs to pay that profit to share
holders. the actual loss or profit carryforward from T/b
and showing it into b/s that is why it is always tallied.

Question { 4502 }

CAN ANY BODY ASK ME CLASSIFICATION OF P.F
RS 930 /- DEDUCTION FORM MY SALARY AS A P.F SO HOW MANY RS
CREDITED IN MY ACCOUNT ( GIVE IN DETAIL )

Answer

Pf will be deducted @ 12% on your basic salary every month .

for Ex if your salary is 20000/-(assume that your basic
salary = 10000, hra =6000, other allowance = 4000/-)

on basic salary 10000/- your PF will be deducted 1200/-
@12& and same is going to deposit in your PF account with
Govt along with company contribution of same amount (i.e
1200/- yours and 1200/- company's) totall 2400/- would be
your monthly saving with PF account.

at the time of resign or retirment you will get the total
amount of savings. if your services are 10 yrs more you can
get the pension (out of 12% 8.33 will go to pension account
and 3.27% will go to pF account from companies
contribution).

if you wihdraw your PF amount within 5 years of your
service you will get total amount of PF after deducting the
TDS as per the ACT.

Question { 4798 }

What is mean by Forex accounting

Answer

Forex Accountng means the transactions records in Foreign
currrency, the transactons can be like Hedgings, SWAPS and
also transactions of Forein Exchange and etc.

the basic thing here is the conversion rate of foreign
currency which changes on daily basis.

Question { 3953 }

Expand L T C

Answer

when we are talking LTC while in Tax subject it would be
Leave Travel Concession where are Long Term Capital when it
comes to Accounting.

Question { 5667 }

expand B C T T

Answer

yes, it is BANKING CASH TRANSACTION TAX. whenever customer
withdraws more than or equival to one lakh in cash then,
tax would be levied @0.1% i.e 100/- per lakh as per present
rate.

Question { 6718 }

Expand-------DDT

Answer

DDT means Debenture Distribution Tax, Companies will deduct
the tax (TDS) while issueing the debentures to shareholders.

addinng to above. share holders need not to pay tax against
income from debentures as the tax aleardy deducted while
issuing.

Question { 6718 }

Expand-------DDT

Answer

DDT means Divident Distribution Tax, Companies will deduct
the tax (TDS) while issueing the divident to shareholders.

addinng to above. share holders need not to pay tax against
income from dividents as the tax aleardy deducted while
issuing.

(dividents is nothing but share of profits)

Question { Tax Time, 6136 }

Pass entry for outstanding salry for the month of March
paid in the month of April

Answer

Salary account Dr

To Outstanding salary account

or

To Salary payable acccount
(Provision created for salary for the month of Mar)

entry to be passed in april

Outstanding salary account Dr.
or Salary payable acccount Dr

To Cash/Bank account
(salary paid for the month of Mar)

Question { TATA, 22003 }

On monday my interview in TCS as an general accounts
executive some one tell me about there process its realy
urgnet for me how may process of interview i want to
passout for selection and which type of question i will
face at the time of intervew its urgnet for me please guide
me for succuessful interview its realy needful for me
my question is any one having aptitude test paper sample

Answer

Hi we can not expect what question they will ask u in
interview.but we can strongly recommend u to pls go through
ur resume what responsibilities u hv mentioned. And also as
an accounts professional you can expect the questions as
per your qualification and exp. if u r a B.com gruaduate
they will ask u only basic entries, principles
ofaccounts,treatment of prepaid expenses etc. its totally
depends up on ur experience and qualification. Ex : if we
paid 10000/- as insurance in the month of June 09 for the
period one year and their books will be closed every year
at the end of march.how wil u treat or post these entry for
insurane? (ans: June to march u need to book as expenses
and apr to next year remaining months book as prepaid exp
and will reverse those entries or amortise those expenses
for respective months and showing these prepaid expenses in
present year balance sheet in current asset) 2)entry for
salaries payable? and etc. please let me know if u need
any help through my mail ID swamydlj@rediffmail.com. and
also please let me know the question they asked in
interview once u attened the interviw.