3 most frequently asked accounting interview questions

[@TheFinancialController]

Level up your Accounting Career by enrolling in our 6-weeks program here controller-academy.com/courses/controller-academy

[@thenjiwezethu6856]

Can I have your email address? I need to discuss something important with you

[@gearheart3721]

I wanted to let you know that I used your tips in the past few interviews I had. I watched a lot of your videos and took detailed notes on it. I think as a senior in college with an accounting concentration I had a feeling of imposter syndrome. I was not sure if I would match up to someone that majored in accounting. Your videos really helped me organize my thoughts and apply what I have learned. How it went: I had an interview with the corporate director of accounting for an entry level staff accountant position last Monday. After asking regular, behavioral and experience-based interview questions, he handed out a test packet with a lot of questions regarding what you covered. After thirty minutes, we went back over it and discussed my answers. This allowed me to demonstrate my understanding because some questions could be interpreted differently. What it covered: 1. Bank account reconcilation. Scenario-based with recorded transactions and the bank statement. *I made sure I showed my work in case I was wrong. 2. Journal entries for several different transactions. *I gave multiple possible entries when applicable due to vagueness. 3. Basic accounting equations. Profit/Loss, COGS, Assets=Liabilities+Owner's Equity, and basic ratios such as the current ratio. 4. Identifying the normal debit credit balance of assets, equity, liabilities, revenues, and expenses, etc. 5. Identifying items or transactions as liabilities, assets, or equity. 7. General accounting questions that I had to hand write answers to such as top three desired accountant qualities, how to perform self-review, and how to handle potentially unethical behavior. I was good on all questions except for when I confused the dividends for dividends payable. Result: I got a job offer the following Friday and it was in the upper range that I gave for a starting salary. After negotiating other benefits, I accepted the offer and I start work in two weeks! Thank you for all that you do! I hope this may help other accountants with their interviews where applicable. My advice is to stay simple and provide sound reasoning behind your answers. Demonstrate that you can explain it clearly by showing your work. Do not overthink poorly worded questions, just ask for clarification and/or provide two possible answers and what factors they left out that would change your solution to it. This shows that you have a thorough understanding of accounting concepts and that you can communicate well. Take any corrections with humility and show that you are teachable.

[@TheFinancialController]

Wow congrats. You are going to do great!

[@yassinibonanje2413]

Ohh waoo

[@monicamarie6657]

I recently started a staff accountant position at a CPA firm. I'm very excited to dive into my accounting career. The company and people are great and there is so much potential for growth. I must say your videos were very helpful in building the confidence I needed to get through my interviews. Thank you!

[@TheFinancialController]

Thanks Monica, best of luck

[@phanindrakumarvavilala804]

I am also accountant in India.. You gave me another angle of accounting to think deeply.. Thanks a lot Sir.

[@valkyrie9553]

Been an accountant for 6 yrs with sporadic experience but solid qualifications & knowledge to my name. About to move countries & start brand new. Your videos are really giving me a boost of confidence, thank you so much!

[@TheFinancialController]

Thanks for mentioning this Valentina!! We keep learning till the very end :)

[@TheFinancialController]

On the Negative Working Capital thing. Most companies draw cash and invest in marketing and in expansion. This is what leads working capital to go negative, but not necessarily a bad sign.

[@Harry-pk4nr]

I see that companies do spend their cash in marketing or expansion as they collect. But at the end of the day, they still don’t have current assets to pay their current liabilities. How would you answer this if it was a follow-up question in the interview? Thanks!

[@khanzzreact6741]

Spending on marketing and expansion is good for business which Ultimately helps to get more revenue. So, having negative working capital is not a bad thing in this scenario. Hope my understanding is correct. If not, please correct me. Thank you.

[@rangasam8162]

How about when companies makes so many sales, and end up in accounts receivable 🙂 actually there is no cash collection....i seen it !

[@searchfortruth6889]

so there could be two answers to this question, the negative WC is either bcz of operational efficiency or investments/ capitalized assets.

[@OkeechobeeCharlie]

Can't make money without spending it

[@ruhanimadaan9020]

I’m convinced my interviewer viewed this video before my interview for a student role haha they asked what’re the three financial statements and the second question was the exact same as the third one you mentioned

[@TheFinancialController]

Haha he did

[@lastnamefirst650]

I’ve heard from professional investors that free cash flow is one of the most important metrics to judge an investment opportunity. Great content, thank you!

[@Harvesting_Nations_Teens]

I just recently found your info. It is very helpful and I would like to give this to students to use, just minus the swearing videos and it will be great for students if you can please.

[@Queenbelieveit]

Studying for my CMA....this was helpful for preparing for future interviews and testing. Thanks!

[@TheFinancialController]

Good luck on your CMA exam Tawana! Let me know if you have a topic in mind for a future video :)

[@avimauryacma]

I also pursuing CMA

[@siddique8789]

How far have you reached? Did you finished it ?

[@Queenbelieveit]

@@siddique8789 Still studying...trying to decide when tobtake the exam or learn more on IT data analytics, cyberspace other tech related to financial services. I enjoy other business components....such IT and marketing too.

[@Queenbelieveit]

@@siddique8789 Hard choice between CMA or CPA......Do anyone plan on taking both or any other related exams?

[@sandilenkutha6355]

As for the 3rd answer, I can also argue. Though inventory is a balance sheet item, but remember that it affects cost of sale (closing inventory) and if you buy more, then the more your closing stock will be and which will reduce your overall COS while increasing your gross profit and net profit

[@vijayrajashree4694]

AP VS AR is one indicator, which shows efficiency in collection.. Also firm should have liquidity to meet its CL. By definition CL mean to settle in near future.. Can I say, WC showing negative also means there is risk involved, should be analyzed further, whether liquid CA meets its near CL

[@FlyWithMe_666]

Good video! I personally would consider the balance sheet the most important statement, in particular if it shows current and previous year as it usually does. But I see where you’re coming from for cash flows, so no problem with that. But keep in mind that you implicitly used a CF statement prepared under the indirect method (i.e. it starts with income and reverses non-cash items in operating CF). You won’t have the same info if it was prepared under the direct method. Both methods are acceptable under IFRS/US-GAAP.

[@TheFinancialController]

Good catch Ronny, yeah using the CFS indirect method. Yup the direct method will highlight other aspect of the business but not as insightful

[@14sher]

The Financial Controller - Hey! I have a question regarding this. If the CF statement format is the direct method, in that case what would be the most important financial statement?

[@TheFinancialController]

sherille fdo no :) only indirect version have these advantages. Otherwise I will take the p&l statement

[@14sher]

Thank you for the quick reply! This isn't an accounting related question. But one question that makes me go blank is when they ask me to 'Tell something about myself' ? How should I go about that question when most of my details are already available in my Resume / Curriculum Viatae.

[@TheFinancialController]

sherille fdo let me give you how I respond to this question. I usually say “ well I am currently the financial controller at XYZ company, I started out my career working at PricewaterhouseCoopers as an auditor, and I spent the next 5 to 6 years working in various accounting positions. I live in New Jersey United States, and I have three amazing children whom I love to do outdoor activities with on the weekends”

[@uzma3911]

Useful information and you can post more videos on accounting interview questions. And it can help many graduates & students for grabbing their first job... Thanks in advance.

[@themutantbreed2044]

Way of explanation of urs is simple n understandable manner. Thank you sir..!! Hope u make a more videos.

[@TheFinancialController]

Thank you! Will make sure to create more like these :)

[@AA-sv3ed]

Yeah, I was also confused about that.

[@TheFinancialController]

Minnie Mouse thanks!

[@kiranbchandran7308]

Very Easy to understand... Conveying in simple ways.. Thnk u

[@TheFinancialController]

Kiran Bchandran thank you so much!

[@bilawallatif1586]

Yes actually very very simple... great conveying method. I hope you will make a full video on preparing budget for a medium sized company.

[@TheFinancialController]

Bilawal latif, I will do that in the near future. Thank you!

[@rikaadnari1543]

Hi Bill, I have question in term of the Working Capital. As you mentioned that when working capital is negative, it's signaling that we are collecting AR fast. The question is, when we are collecting our AR, isn't means we also debiting our Cash and that actually part of current assets? So how it can cause negative working capital in this sense? Thank you in advance for your explanations!

[@TheFinancialController]

In many cases as cash is collected, it’s being deployed in the business for expansion. This reduces WC

[@PDXLibertarian]

Subscription businesses are a really good example of this. The pre-paid subscription cash becomes a means of financing. Working capital is negative because current liabilities include unearned revenue, which is an accrued liability rather than a cash liability.

[@ruthvidal6466]

I have never been asked any of those questions before but it sure is nice to know there is a nice to know. I learned from it and I will look forward to watching your other videos thank you

[@danieleduardocamposcastill5545]

Your channel is very important for me. I am studying accountant in México.

[@TheFinancialController]

Thanks Danny

[@vladba7372]

Do more questions like these, please.

[@TheFinancialController]

Will do vlad! Cheers :)

[@rubbalgupta4558]

Thankyou for your help, I landed my dream job. You are doing great work.

[@selftalkwithdee]

Which questions did they ask you? Did they train you or expect you to know the job?

[@chernorabdulaishaw5960]

Hello sir! relating the the second Interview questions. If we collect more of our accounting Receivable it will decrees the receivable and increase Cash or Bank which both of them are current assets Items. How will that cause the current liability to greater than the current assets in this situation?

[@dafeac]

I thought the same, I think it could signal a problem with liquidity also, so is not good or bad, if is it good like a good efficiency as in the video the company is using that cash from the efficiency in non current assets or paying non current liabilities, paying dividends etc..

[@webirdagency2281]

Negative working capital usually occurs when AR's got invested in marketing and expansion ..so on that way., the bank and cash also get decrease...but there is one another side ...if there is less sale...and inventories will get increase...so on that way also ..negative working would occur....so I think negative working itself is a bad sign.

[@andrewkwon1570]

You collect AR fast so creditors will extend more credit. Thus higher AP. The company chose to take on more debt.

[@FiddlingCPA]

While tagging financial statements with iXBRL (my specialization), I have noticed that under the "Going Concern" heading in the accounting policies note (when it's present), companies tend to mention they have negative working capital. That suggests to me that negative working capital is not a good sign, unless shown otherwise for a specific reason.

[@trijunarsa97]

Its true when you collected the AR earlyer the Cash would increse. But the company usualy use that cash first not to pay the AP but used it to make it to be Another income for company. So its would make the cash decrese but the AP is still same. Did you get it?

[@wollyadex]

Closing inventory can affect the Cost of sales . If cost of sales increases then the gross profit will reduce and so also the net profit

[@TheKatarb]

This was also my answer. How come it has no effect on P&L?

[@shivajr5795]

If I collect my receivables soon, still it should be in your cash or cash equivalents which is still ur current asset. Negative WC isn't good for a company in my opinion!

[@sammiatimodumubarak2380]

The Financial Controller. Thanks so much very insightful

[@TheFinancialController]

You are welcome!

[@ludy9456]

WOW! simplified learning! thank you!

[@qFAHAD0]

thanks for sharing this awesome vid , finally i find that is Financial Statment of cash flow is that important more than others statments

[@TheFinancialController]

Thanks for watching Fahad!

[@alltimetv4837]

Regarding question no 3, if we are using absorption costing then increase in closing inventory will reduce cost of goods sold will cause increase in profit. Isn't it like this ? Kindly assist ?

[@shaariks7424]

Exactly,increase in ending inventory will absorb more of a fixed cost which eventually helps to show a higher gross profit

[@Mohamed-un7vx]

i know its to late to ask this questions but i hope u answer it , what about if the inventory will increased by 10$ it will decrease the COGS and so increase net income?

[@vijayrajashree4694]

Really great content.. Only today I came across your video.. Thank you for such knowledge sharing..

[@amiterp7923]

Related to the last question... if inventory goes up by $10 then doesn't it have an impact on gross profit? As we are purchasing inventory for reselling purpose thus increased stock price will have an impact on Cost of goods sold, Which will further have an impact on Gross profit and net profit. Gross profit = Revenue - Cost of goods sold

[@PDXLibertarian]

It doesn't have an impact on profit until the new inventory is actually sold.

[@yehiazakaria1545]

Thank you for your valuable information, it's a great video

[@malamofficial7558]

I enjoyed with the 3rd question

[@nukfauxsho]

DPO is the key to keeping that working capital in the green and creating a sustainable company during times of the year assets are short.

[@TheFinancialController]

Agreed. Keeping a space between DPO and DSO is good for working capital

[@osman12991]

I cant understand here if there is negativity i mean c.liabilities>c.assets then why we came to result as you re collecting a.r(cash) faster?this point is place i totally missed.Thank you

[@maheshreddy1710]

I have seen you replying that cash deployed in investments as if invested also cash turns into current assets then how wc will become negative

[@shruthiswaminathan2907]

In Q2 -> If AR is collected earlier, then cash (or inventory - if purchased with r/ts of AR) would increase - effectively keeping a nil impact on CA right, isn’t it? In that case a negative WC would only be explained by an inability to pay up CL on time or lagging it for some reason or the other - which could once again indicate higher supplier costs going forward as negotiation power comes down. In this way wouldn’t a negative WC be an indication of a liquidity problem?

[@TheFinancialController]

Most companies use cash to grow the business buying equipment and opening new locations.

[@AliShan-ow5vs]

Bro u r simply amazing , i salute uh thanx aloot 🤲🌎😘

[@richard2104]

Long time follower, first time with a question - we have a debate in our office. When creating a budget variance report, is actually minus budget or budget minus actuals? Please help settle this debate. Thank you!

[@TheFinancialController]

actual minus budget

[@rdahlinger4509]

This was phenomenal

[@RajuKumar-wf7gc]

I am your great fan sir,your video is really helpful from me,love from India❤️

[@TheFinancialController]

Thanks

[@heenamkim3784]

What you said didn't make sense, because if you collected more AR, the AR would decrease. However, this would mean cash should go up since they are collecting AR. and didn't pay AP.

[@trishasharma9054]

Thank you so much sir it is very helpful for interview

[@TheFinancialController]

Thank you for watching

[@bulbuljain5647]

in 3 question- what is the impact on income when inventory goes up by $10 - you said " nothing". i think it will impact on income because of COGS, which involve (Beg+purchase-ending) when we make entry- Merchandise inventory Dr and A/P Cr. so this Merchandise inventory include in COGS as purchase new M.I. this COGS appear on Income statement. if COGS decrease income increase and vise versa. what do you think is it right or not?

[@dharmeshnahar7788]

Imagine you have 100 USD in beginning inventory at the start of 2021. Let's say you sell 100% of what you purchase this month on the following month at a constant of 100 USD per month up to November 2021. You decide to increase inventory in anticipation of a 10% monthly increase in sales for 2022. So instead of 100 you buy 110 USD. Let's compare the COGS when you don't increase and when you do increase. When you don't increase COGS = 100 + (12x100) - 100 =1200. When you do increase, COGS=100+[(11x100)+110]-110=1200. This is because your purchase forms part of your ending inventory. #Copied

[@nuramirahsharifuddin6009]

Great explaination! Thanks!

[@mansisharma7486]

really productive video

[@cheekibrickey2662]

Why does collecting ar decrease current assets, isn’t it the same value just now in the cash account

[@ksureshnagarajankksureshna4161]

Sir I thank you

[@sanatandharma_v2]

I can't agree with 3rd part abt Inventory cz... Any changes like Increase or Decrease in Inventory shall impact OPAT ... Correct me if I am wrong...

[@jvd2983]

I'm confused. Negative WC is not good. If you say the company is collecting its ARs faster than paying APs, THAT COLLECTED AR should be in Cash Account already and should not affect the WC Ratio. Ex. 1M Cash + .5M AR is 1.5M LESS APs .8M. WC is .7M Provided they collected .3M from AR, Cash will be 1.3M PLUS AR .2M LESS .8M APs, WC is still .7M. If based on the sample above, the WC becomes lower that .7M, it means the company spends more on either OPEX or CAPEX.

[@deny49676]

What does it mean when it’s your 2nd week at work and you’ve been kind of nervous because you’re new to the job but you ask one of your trainers and she says your doing great and she asks “how long have you been here, since last week?” “I reply “yes since last week” and she says “yeah you’re doing really good”. But she has given more work to the one that has been there for 7 months and the guy who’s been there for 1 month, and not me…. Does that mean she doesn’t think I’m ready for that amount of work? I work for the city as an accounting clerk. ….. am I just overthinking it? I was working really fast and balancing with my money while the others were kind of messing up with their counting and then all of a sudden yesterday and today they started working faster than usual…… any thoughts? Like I’m not sure if I’m being useful or resourceful

[@ordiolasaliasi9976]

Why the most important financial statement is not balance sheet?

[@monojitmondal342]

1st one nice, easy but tricky

[@TheFinancialController]

I agree

[@yassinsalih1406]

Actually I got the last two questions in my last interview which was just ten days ago

[@sukanyanishanth4634]

Great presentation 👌🏻👌🏻👌🏻

[@TheFinancialController]

Thanks a lot

[@realdarklightning]

I'm really confuse with your answer in question no. 3. As I understand it, increase in inventory decreases purchases, decreasing cost of good and increasing grofit profit thereby increasing income. I thought an increase in inventory increases income.

[@jixseyloportacion9177]

Imagine you have 100 USD in beginning inventory at the start of 2021. Let's say you sell 100% of what you purchase this month on the following month at a constant of 100 USD per month up to November 2021. You decide to increase inventory in anticipation of a 10% monthly increase in sales for 2022. So instead of 100 you buy 110 USD. Let's compare the COGS when you don't increase and when you do increase. When you don't increase COGS = 100 + (12x100) - 100 =1200. When you do increase, COGS=100+[(11x100)+110]-110=1200. This is because your purchase forms part of your ending inventory.

[@dharmeshnahar7788]

Agreed

[@69TheAlexis]

Thanks for your very helpful videos. However, inventory movement should have an impact on P&L, no?

[@TheFinancialController]

Thanks. Inventory purchase doesn't impact the P&L. Only selling inventory impacts P&L (Cost of goods sold).

[@dharmeshnahar7788]

Imagine you have 100 USD in beginning inventory at the start of 2021. Let's say you sell 100% of what you purchase this month on the following month at a constant of 100 USD per month up to November 2021. You decide to increase inventory in anticipation of a 10% monthly increase in sales for 2022. So instead of 100 you buy 110 USD. Let's compare the COGS when you don't increase and when you do increase. When you don't increase COGS = 100 + (12x100) - 100 =1200. When you do increase, COGS=100+[(11x100)+110]-110=1200. This is because your purchase forms part of your ending inventory. #Copied

[@junaidahamed6187]

Sir, I do have a doubt. When you said, negative WC can be caused by quick collection of AR. But does it really decreases current assets?. When we are collecting cash , there is no movement in current assets right?. The decrease in AR will cause an increase in cash by the same amount. So how does that do any good sir?

[@TheFinancialController]

True, but remember, in most cases, companies don't just sit on the cash. They invest it in buying new equipment, open new locations, etc, thus the AP balance will out grow faster than AR balance.

[@junaidahamed6187]

@@TheFinancialController sir, you are correct. This will cause a negative WC. But if spending more cash leads to less working capital, which also means that we owe more than what we own on a current basis, do you think that's a good condition. So here how can we say negative working capital is good in this case?

[@AK-sj9bo]

Thanks for the video. I have a doubt regarding question 3. While calculating p&l a/c, cost of sales =initial inventory + purchases - closing inventory. Therefore, why does purchasing inventory has no effect on P&L. Could u please explain?

[@TheFinancialController]

In my example we use “perpetual inventory”, but you are referring to “periodic inventory”

[@urbanrapfms]

Hi mate! Regarding the purchase of inventory, doesn't it affect cost of goods sold? I see the BS account of inventory going up by 10 and cash decreasing by 10 but in terms of costs, shouldn't it increase the COGS in the IS? Thanks for your videos :)

[@MuroMaki-dw2fz]

as the term states, your COGS would increase in the event that there's a sale. so when that purchase of inventory, eventually leaves inventory because it's being used for a sell, then it would credit the inventory (balance sheet) and debit the COGS (PL)

[@israarachid3315]

Its the first video for me. Thank u alot I am a beginner , what do u mean by P & l ?

[@TheFinancialController]

P&L is the profit and loss statement

[@Hamza-yv6uy]

thanks for sharing this useful video, could you please clarify more the 3rd question ?

[@TheFinancialController]

Hamaza, when you are receiving cash quicker than paying, AR is reduced more efficiently in comparison to AP, therefore may lead to negative wc.

[@Hamza-yv6uy]

Question 3 : Inventory. thanks a lot Impact of the inventory on cash flows

[@TheFinancialController]

ah I see, the question was impact of punching inventory on Income. Yes, no effect on income until you sell the inventory. But just purchase of it has no impact on income.

[@bossssss]

A negative WC is telling you that the supplier is collecting cash from you later than you are collecting cash for sale made. For example, you sell on a 30 day credit term but pay your suppliers on a 45 days payment term. Now this is business at its best.

[@TheFinancialController]

Exactly thanks Vee

[@peacechimezie1193]

You are the Best!

[@thenoobthatdied6489]

For the 2nd question, doesnt A/R turn in to cash? If they are collecting A/R, cash is going up so WC doesnt really go down but stay equal.

[@TheFinancialController]

True, however, in most cases, companies don't just sit on the cash. They use it to invest in buying new equipment, open new locations, etc, thus the AP balance will out grow faster than AR balance.

[@thenoobthatdied6489]

@@TheFinancialController ohh I see now. Thanks for clarifying.

[@vakilchirayu]

Great information..

[@christinekamel116]

Thanks very nice one

[@ansumanmishra21]

I am a CMA (India)

[@mohammedrasmi8644]

I was asked what statement is the best to look at , i said cash flow and got refused. And. Im not kidding at all 😂

[@arsars304]

You are the best!

[@ThaoPham-fi3pe]

Really appreciate your content. Just out of curiosity, would collection have no effect on CA because when AR goes down, cash will go up at the same time, making no change in overall CA?

[@TheFinancialController]

You are correct ;) happy learning

[@chenmax9337]

@@TheFinancialController so doesnt that mean no matter how fast you are collecting your cash from AR, the CA doesnt change, hence it doesnt necessarily indicate that you are collecting cash faster than paying? it simply means the short term liability is higher than your short term assets? I'm a bit confused sorry

[@TheFinancialController]

Chen Max CA stays the same in relation to AR/cash. But when your Payment terms to your vendors are longer than your customers, you end up with a negative WC.

[@chenmax9337]

The Financial Controller so when you are receiving cash quicker than paying, ar is reduced more efficiently in comparison to ap, therefore may lead to negative wc? Ok got it thank you so much!

[@TheFinancialController]

Chen Max correct!

[@sanooj2609]

But sir i have a doubt... COGS=OS+purchase-Closing stock... So i think it will affect PL when COGS increase or decrease... Can you please clarify it ?

[@TheFinancialController]

Sanu, it only becomes part of COGS when you sell it, but if you only purchase it, no effect on PL. In your formula, if you purchase 10 pencils but don't sell them yet, it will be 10 added to "Purchases" and also 10 still in "Closing Stock", which has net effect of zero on your formula :)

[@69TheAlexis]

@@TheFinancialController thanks for clarifying !! love ur content

[@emmanuelhabte4672]

Thank you 🙏

[@rosmaryalgarin9292]

ok i agree you're absolutelly rigth thanks once again for everything

[@TheFinancialController]

Thanks Rosemary:)

[@rosmaryalgarin9292]

@@TheFinancialController ok

[@Lee3_mach]

Very helpful tips

[@TheFinancialController]

Thanks!

[@Carla369]

OMG you surprised me!

[@cpajacobnjeru4068]

Negative working capital is not good if business is not collecting debts om time.

[@counterleo]

Not all inventories are valued at the lower of cost and NRV 🙂

[@nasirali4016]

Thanks alot sir

[@queennixon123]

Lol I’ve never been asked these questions before. Is this for a specific field in accounting ?

[@emmanuelhabte4672]

Do you have any software to study…?

[@dhineshkumar9393]

Sir i need accounting interview to cost and management account

[@happy_person171]

what do you mean by PLN statement?????

[@camal6451]

seriously? a no brainer!

[@TheFinancialController]

That’s great. I guess..

[@liwenwang6114]

Hi thanks for sharing this useful video. I have a question about working capital that part. As you've mentioned, if AR is smaller, WC will be negative. I'm thinking if AR is smaller, it means we receive cash from customers, the cash will increase. Then, CA will be the same, isn't it? Hence, it seems that only CL causes WC to be negative, isn't it? sounds not a good thing, right?

[@TheFinancialController]

You are correct in regards to CA being the same if cash is received. However, these efficient business collect cash, invest it in growing the business (open more locations, etc), and rely on vendor terms to act as mini-loans to finance their expansion.

[@mohamedhakim903]

Very good

[@adelal_fudili7627]

you are the best

[@jorgegonzalez-ec5fl]

Cash is non-operational why are you including it in working capital?

[@aneezasonisoni9866]

Thanks alot for the video.

[@TheFinancialController]

Thanks

[@EffortlessQigong]

Working capital?

[@t.m.prabhakar773]

Sir, I have a Doubt on your Answer to the Third Question. When the Inventory Cost Increased by 10 surely it will have a impact in the Gross Profit either even if I consume the material for production or leaving it in stock unless its compensated by the hike in the sales price. Its my view, Please clarify.

[@Igor_054]

You are talking about future effects when the inventory is sold or used, which could happen on the next period, for instance, meaning it will not affect P&L in the current financial statements. His example is prior to the sale, so this should not be recognized as P&L yet. If the accountant verifies that inventory was purchased above its NRV, though, there could really be an effect in P&L before the sales, as an allowance would be recognized, reducing the inventory to its estimated NRV.

[@msreality8120]

Ty

[@ruchigoyal2244]

thankyou for amazing content!!!!

[@TheFinancialController]

Glad you liked it

[@Theasterstar]

Accounting interview are hard if the employer is picky. You have to take an exam again even if you are CPA. 🤣 you need to answer those srupid questions.

[@saudalamkhan9843]

From which movie the scene is taken, " you're hired"?

[@shameerpulakkal4680]

Hi sir , Iam an accountant . I would like to go for a senior accountant job. I have been working as a payable accountant(Accounts payable) for 4 years . Iam ready to learn to get senior accountant job because i dont want to stick in my current job. Could you please advise me from where i will start my learning. Just explain me what are the job descriptions of a senior accountant in different companies

[@abdulrahmanaa1377]

What do you mean by P&L ??? Thank you

[@TheFinancialController]

Profit and Loss Statement (income statement)

[@narmadhameena6793]

Good information 👍

[@TheFinancialController]

Thanks for watching:)

[@fmarystella6925]

Hi, I am looking for a job in accounts with 09 years of accounting experience and finding difficult in getting job in USA,and am a B'Com graduated.

[@TheFinancialController]

Are u located in the US? Was the 9 yrs experience in the US?

[@fmarystella6925]

@@TheFinancialController I am from India and 09 years exp is from India. Currently in US and seriously looking for job

[@TheFinancialController]

The thing is most us employers look for US degree or US experience (one of the 2). So your best bet is either getting an equivalence of your degree from a US college or try to get an entry level accounting role

[@fmarystella6925]

@@TheFinancialController okk any short term online training should I take up? If yes please advise

[@dvenkatesh8582]

Thanks buddy!

[@TheFinancialController]

Np!