Accounting and Finance Questions

Means whatever income any employee received from the organisation and on that tax to be deducted. (e.g. Gross salary, Overtime, Bonus, Incentives etc.)

Drop Ship refers to, a manufacturer shipping goods directly to one of its customers' customer (instead of delivering the goods to the customer that placed the order with the manufacturer).

This concept of shipping goods is called as drop ship, drop shipping or a drop shipment.

After posting the all accounts in the Ledger a statement is prepared to showing debit and credit balances.Debit balances must be tally with the Credit side balance is called trial balance

Much of your answer to this question will depend on your role – so do some careful research into your chosen department. In M&A, you might spend much of your time on financial models related to the deals you’re working on, while in a trading role you might start out by assisting more senior members of the team before being given the chance to manage a trading book yourself. Beyond that, it’s important to show that you’ll be keen to take on responsibilities, but that you also recognise that your first year is about learning the ropes, usually means include following instructions from others and completing some mundane tasks.

The Debit balance recovery is usually made by raising a credit memo for the regular vendors. However if there are no future transactions from the supplier, we ask the vendor to send the check / make an EFT for the amount due from him.

Absolutely. Two examples involve unsustainable improvements in working capital (a company is selling off inventory and delaying payables), and another example involves lack of revenues going forward in the pipeline.

SIP is Systematic Investment Plan.