Sunday, June 27, 2010

FINANCE AND ACCOUNTS

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BASIC FINANCE QUESTIONS

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INTERVIEW QUESTIONS AND HOW TO ANSWER HR QUESTIONS

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Saturday, June 5, 2010

Top Ten Entrepreneurs In The World

1. Bill Gates (Microsoft) – 40.0 billion dollars



A software visionary, he stepped down from day-to-day duties at Microsoft last summer to devote his talents and riches to the Bill & Melinda Gates Foundation.

2. Warren Buffett (Berkshire Hathaway) – 37.0 billion dollars

Last year, America’s most beloved investor was the world’s richest man. This year he has to settle for second place after losing $25 billion in 12 months.

3. Carlos Slim (Telmex) – 35.0 billion dollars

The son of a Lebanese immigrant bought the fixed line operator Telefonos de Mexico (Telmex) in 1990. He now controls 90% of Mexico’s telephone landlines.

4. Larry Ellison (Oracle) – 22.5 billion dollars

A Chicago native, he studies physics at the University of Chicago and didn’t graduate. He started the software company Oracle in 1977 and went public in 1986, a day before Microsoft did.

5. Ingvar Kamprad (IKEA) – 22.0 billion dollars

Peddled matches, fish, pens, Christmas cards and other items by bicycle as a teenager. Started selling furniture in 1947. Opened first Ikea store 50 years ago.

6. Karl Albrecht (Aldi) – 21.5 billion dollar

Germany’s richest person. He owns discount supermarket giant Aldi Sud. .With his younger brother Theo, he transformed their mother’s corner grocery store into Aldi after World War II. The brothers split ownership in 1961 and Karl took the stores in southern Germany, plus the rights to the brand in Great Britain and Australia.

7. Mukesh Ambani (Reliance) – 19.5 billion dollars

The richest man in India merged Reliance Industries with Reliance Petroleum.

8. Lakshmi Mittal (Arcelor Mittal) – 19.3 billion dollars

This Indian immigrant heads the world’s largest steel company. Arcelor Mittal was formed via hostile takeover 3 years ago.

9. Theo Albrecht (Aldi, Trader Joe’s) – 18.8 billion dollars

Brother of before mentioned Karl. Owns Aldi in northern Germany and the rights for the rest of the world.

10. Amancio Ortega (Zara) – 18.3 billion dollars

This railway worker’s son started his career as a gofer in a shirt store. With his then-wife Rosalia Mera, also now a billionaire, he started making dressing gowns and lingerie in their living room.

12 tips for business success

These 12 attitude attributes can put you in the right mindset for achieving entrepreneurial success.



1. Have passion for your business

Work should be fun. Your passion will help you overcome difficult moments and persuade people to work for you and want to do business with you. Passion can't be taught. When it wanes, as it surely will in difficult times, take some quiet time. Whether it be an hour or a week, take inventory of all the reasons you started the business and why you like being your own boss. That should renew your passion.

2. Set an example of trustworthiness

People have confidence in trustworthy individuals and want to work for them in a culture of integrity. The same is true for customers.

 
3. Be flexible, except with core values

It's a given that your plans and strategies will change as time goes on. This flexibility for rapid change is an inherent advantage of small over large business. However, no matter the pressure for immediate profits, do not compromise on core values.

4. Don't let fear of failure hold you back

Failure is an opportunity to learn. All things being equal, venture capitalists would rather invest money in an individual who tried and failed founding a company than in someone who never tried.

5. Make timely decisions

It's okay to use your intuition. Planning and thought are good. But procrastination leads to missed opportunity.

6. The major company asset is you

Take care of yourself. Your health is more valuable than the most expensive machinery or computer software for the company. You don't have to choose between your family or your company, play or work. Maintain your health for balance and energy, which will, in turn, enhance your mental outlook.

7. Keep your ego under control

Don't take profits and spend them on expensive toys to impress others. Build a war chest for unexpected needs or opportunities. This also means hearing out new ideas and suggestions no matter how crazy they sound.

8. Believe

You need to believe in yourself, in your company, and that you will be successful. This confidence is contagious with your employees, customers, stakeholders, suppliers and everyone you deal with.

9. Encourage and accept criticism graciously. Admit your mistakes.

You need to constantly work on convincing your employees that it's OK — even necessary —to state their honest opinions even it if conflicts with the boss's opinion. Just stating it once or putting it in a mission statement won't cut it for most people.

10. Maintain a strong work ethic

Your employees will follow your lead. It will also help you beat your competition by outworking them, particularly when your product or service is very similar.

11. Rebound quickly from setbacks

There surely will be plenty of ups and downs as you build the business. Learn from the setbacks and move on. You can't change the past.

12. Periodically get out of your comfort zone to pursue something important

Many times you will feel uncomfortable in implementing a needed change in technology, people, mission, competing, etc. For the company and you to grow personally, you sometimes have to step out of your comfort zone.

Many organizational and leadership shortcomings can be overcome or mitigated with the good attitudes described above. All can be learned except passion, which comes from within. Take time out of your hectic schedule to periodically reflect on these attributes. You may be inspired to act.

How to Make Windows XP Startup

1. Click on Start, then Run, and type "msconfig". Wait for a new window to pop up.

2. Look under the "BOOT.INI" tab. You will see a box labeled "Timeout:", and a numerical value. By default, it's 30, which means 30 seconds of wait time before boot. This can be changed, make it 3 seconds. (Note: if you have more than one operating system, this means the wait time to startup to the highlighted Operating System. Sometimes you might want a bit more than 3 seconds than you can opt 5 or 10 seconds.

3. Delete The Temporary Files Periodically From Your Computer To Make The Applications Run Faster. Type %Temp% in the run dialog box by clicking on Start -> Run, and click on "OK". You will see an open folder with many files. Click on the Edit menu and click on Select all and then click on the File menu and select Delete. Note: Always confirm that the folder which is opened has a "temp" on the top of menu bar and the folder indicates that it is a temporary folder

4. Perform a Scandisk To See That Your Computer Hard Drive is in Healthy Condition and it helps Your Computer Run Faster

5. Always Perform a Disk Defragmentation at least once in a month. Start the disk defragmentation from the system tools available in the accessories from the start menu. It takes a longer time and it is advised not to run any applications in the computer including the screen savers, while running disk defragmentation

6. Clean Windows Registry Regularly.Select a useful software from Filetransit.com.Experts recommend once in a month registry cleaning for smooth and fast computing.



ANOTHER WAY TO FAST UP UR SYSTEM IS .........

HibernationAfter doing all this, another method you can do is to allow the computer to hibernate. Hibernation closes and opens Windows faster than usual. However, Hibernation is a good long-term recommended solution, as it does save electricity.



1   Go to Start->Control Panel->Power Options.

2.   Click on the Hibernate tab.2Click on the box that says "Enable hibernation" to check it.

3.   Click on the Advanced tab and change the Power buttons options if you want to hibernate by pressing the sleep button or the power button. Otherwise, holding the Shift key while in the Turn Off Computer menu will give you the option to hibernate.

4    Restart your computer every week or so to clean your computer.The power can then be completely turned off, even at the socket so that no power is wasted.
HOW TO BLOCK UNWANTED MAILS IN GMAIL YAHOO HOTMAIL..

Do you want to block those annoying offers and newsletters that reach your inbox? Well here is a way to block all those unwanted and annoying emails that you do not want to see or read! With this trick you can block individual email address or the whole domain from which you do not want the emails to come from. Here are the step-by-step instructions to do this.

For Gmail

1. Login to your account
2. At the top-right corner, click on Settings
3. Under Settings, click on Filters



HOW TO HACK A PDF PASSWORD

• Get free serials,keygen,cracks to any software

• How to create cracks for games  - Freemypdf.com



Note: This only works for PDF FILE that you open and read without any Third party plugins. PDF file that require a password to be viewed cannot be unlocked by this service.


This is because this is not cracking. Viewable PDFs with restrictions are not really protected, no more than a door with a broken lock, as opposed to password-protected PDFs


SPEED UP YOUR BSNL DATAONE INTERNET CONNECTION


TO SPEED UP INTERNET YOU HAVE TO DO CHANGING OF DNS SERVER ADDRESS THE STEPS FOR SPEEDING UP YOUR CONNECTION ARE GIVEN BELOW

1. Open Control Panel -> Networking and Sharing Center -> Manage Network Connection.

2. Now a window showing all networks will be opened. Select BSNL Connection > Right click > Properties.

3. Now, double click on Internet Protocol Version(TCP/IPv4) and in newly opened window at bottom, select “Use the following DNS Server address” .

4. And fill these 2 DNS Addresses in two fields:


208.67.222.222

208.67.220.220

and hit OK. Thats it. Your BSNL Internet Broadband DNS Servers changed.
STOCK  MARKET


A stock market or equity market is a public market (a loose network of economic transactions, not a physical facility or discrete entity) for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately.



The size of the world stock market was estimated at about $36.6 trillion US at the beginning of October 2008. The total world derivatives market has been estimated at about $791 trillion face or nominal value,11 times the size of the entire world economy.The value of the derivatives market, because it is stated in terms of notional values, cannot be directly compared to a stock or a fixed income security, which traditionally refers to an actual value. Moreover, the vast majority of derivatives 'cancel' each other out (i.e., a derivative 'bet' on an event occurring is offset by a comparable derivative 'bet' on the event not occurring). Many such relatively illiquid securities are valued as marked to model, rather than an actual market price.

The stocks are listed and traded on stock exchanges which are entities of a corporation or mutual organization specialized in the business of bringing buyers and sellers of the organizations to a listing of stocks and securities together. The stock market in the United States is NYSE while in Canada, it is the Toronto Stock Exchange. Major European examples of stock exchanges include the London Stock Exchange, Paris Bourse, and the Deutsche Börse. Asian examples include the Tokyo Stock Exchange, the Hong Kong Stock Exchangeand the Bombay Stock Exchange . In Latin America, there are such exchanges as the BM&F Bovespa and the BMV.

History

Established in 1875, the Bombay Stock Exchange is Asia's first stock exchange.In 12th century France the courratiers de change were concerned with managing and regulating the debts of agricultural communities on behalf of the banks. Because these men also traded with debts, they could be called the first brokers. A common misbelief is that in late 13th century Bruges commodity traders gathered inside the house of a man called Van der Beurze, and in 1309 they became the "Brugse Beurse", institutionalizing what had been, until then, an informal meeting, but actually, the family Van der Beurze had a building in Antwerp where those gatherings occurred; the Van der Beurze had Antwerp, as most of the merchants of that period, as their primary place for trading. The idea quickly spread around Flanders and neighboring counties and "Beurzen" soon opened in Ghent and Amsterdam.

In the middle of the 13th century, Venetian bankers began to trade in government securities. In 1351 the Venetian government outlawed spreading rumors intended to lower the price of government funds. Bankers in Pisa, Verona, Genoa and Florence also began trading in government securities during the 14th century. This was only possible because these were independent city states not ruled by a duke but a council of influential citizens. The Dutch later started joint stock companies, which let shareholders invest in business ventures and get a share of their profits - or losses. In 1602, the Dutch East India Company issued the first share on the Amsterdam Stock Exchange. It was the first company to issue stocks and bonds.
The Amsterdam Stock Exchange (or Amsterdam Beurs) is also said to have been the first stock exchange to introduce continuous trade in the early 17th century. The Dutch "pioneered short selling, option trading, debt-equity swaps, merchant banking, unit trusts and other speculative instruments, much as we know them".There are now stock markets in virtually every developed and most developing economies, with the world's biggest markets being in the United States, United Kingdom, Japan, India, China, Canada, Germany, France, South Korea and the Netherlands.

HOW TO ENTER INTO STOCK MARKET ??????

       First of all, you need to know a little bit in detail about the stock market, then about the shares and the mode of their trading. What are the risks involved and how to be smart in dealing with shares?

■  Stock Market – It is the place where the shares of listed companies are bought and sold. In   India, you have BSE and NSE as two big stock exchanges.


■   Shares are bought and sold by you and me only through approved brokers.


■  Approved brokers are mostly banks like the ICICI, HDFC, IDBI, UTI Bank, SHCI, are to name a few.


■  First you need to open an account with a bank, that has the Demat account facility.


■  Go to the respective bank and open a Savings account with deposit of around Rs. 10,000.


■  Tell the bank that you want to deal in shares and ask them to open a Demat account. It will be done automatically after signing a few forms.


■  A Demat account is nothing, but the account where the shares bought by you will be kept separately.


■  Only you could operate that account online, through Internet.


■  You could open the online facility offered by the ICICI, HDFC or ShareKhan or others and buy shares you wish and decide the quantity and the price.


■  Here the bank will act as a broker. You online order for purchase would be carried out by the bank. They charge broker commission, much less compared to private brokers.


■  It is very important for you to have enough balance to your credit in your savings account.


■  As and when you buy on line, your Demat account will be credited with those shares. The money for the purchase will be automatically deducted from your account by the bank.


■  You also have to keep looking for opportunities to sell the shares that you have already bought and kept in your Demat account.


■  For buying and selling, it is necessary to familiarize which shares to be bought at what prices and sell them at what price.


■  As and when you decide to sell (depending on the price quoted in the market) you could sell them through online trading system.


■  The moment you sell your Demat account will be debited with the number of shares sold by you.


■  Your account will be credited with the amount for which you have sold.


■  Depending on the amount of profit earned, tax will also be deducted by the bank (TDS). The bank will give you a TDS certificate by the year end, i.e., March 31, of that year which you could attach with the return to justify the tax payment.


■  When the shares could be bought or sold?

 Always sell the shares when the price is up and buy when the price is down. Every body had to adapt to this formula.


■  What profit should it give you?


You buy a share for a particular price. Take the amount as investment. Any bank will lend you at ten per cent interest. It will give you 24 per cent return if the share price rises in such a way. Do not wait for the market to crash and start searching for buyers for the price you quote.

 
After selling, never look back and repent for what profit you have earned, had you delayed the sale. Be happy that it did not happen otherwise. This is the best way, to sell.


■If you want to buy, look for 52 week low, look for the peer companies, their price and compare it with the company you want to buy.


Look for the prospectus, future plans and the profit the company ought to make in the next year. Take the perception or a change and buy.



■You cannot take profit in the buys. Losses do occur as long as you are at decent surplus for which you have no reason to be unhappy.
Accounting Interview questions


 
Tips on Interview gives many advices to Accounting Professionals, the following are the sample questions Accounting Professionals need to prepare before attending for Interview.

 
Questing asked in Interview for Accounting professionals
 
1.What was the size of the company you were working for?

 
2.What was your Title in the company?

 
3.What type of environment suits you best and explain the reason?

 
4.What is your educational Back Ground?

 
5.How large was the accounting Group?

 
6.What product or service did your company provide or Produce?

 
7.Tell me a situation where you made Mistake in Accounting?

 
Accounting Professionals are asked many other questions based on Job Clarification. Accounting professional based on the role or position of job applied they are asked questions covering topics on Accounts Payable , Payroll, Accounts Receivable or Billing , Bank Account Reconciliation, Questing on Cost, Audit, Financial Analysis and Tax.
 
Below Mentioned or some of the sample interview questions for accounting professionals.

  
Do you prepare journal Entries?

 
How is the posting done manually or computerized?

 
What is the total dollar volume of your company Invoices?

 
How many invoices do you match, batch or code per week and per month?

 
What is your responsibility with the companies’ expense account?

 
How do you handle Discrepancies?

 
Interview Questions on Payroll

 
How is payroll produced? Do they produce in house or outside service?

 
How many people are working in the payroll department and where does your position fall in terms of hierarchy?

 
How many employees did you produce Payroll?

 
How do your company pay employees? salary or Hourly?

 
Did you deal with Union or nonunion Payroll?

 
Do you have exposure to payroll Taxes?

 
How does the payroll information get to the financial statements?

 

 

 Interview Questions on Accounts Receivable/ Billing

 
How complex was the billing process?

 
How many accounts do you work on per week/ month and what is the cash volume?

 
How frequently did your company bill your clients?

 
Explain collection Process of your company?

 
Do you have experience working with lock Box?

 
Do you revive Aging Reports?

 
Interview questions asked on Bank Account Reconciliation

 

 How many accounts did you have to reconcile monthly?

 
Were they single or multi currency?

 
How many cheques per average reconciliation?

 
What types of accounts were they?

 

 

Interview Questions on Staff Accountants

 

Are you responsible for the general ledger account reconciliation work?

 
How much General ledger analysis do you do? Are there multiple ledgers?

 
Do you do the bank reconciliation work?

 
How much review of journal entries do you perform? According to your opinion What is the most effective way of identifying errors?

 
What was the timing of the month end close? What is your role in the month end close?

 
How much involvement did you have in the preparation of monthly financial statements?

 
Do you supervise or train any of your company employees?

 
Tell me about your budgeting experience – what is the total amount of the budget for which you have responsibility?

 
What is your role with the outside auditors?

 
Tell me about your tax experience.

 
Tell me about some of the special projects to which you have been assigned.

 
Interview Questions on Audit

 
How long have you been involved in auditing?

 
hich type: internal/ external/ EDP/ government/ public/ private/ financial/ operational SOX?

 
Have you led a team in Audit?

 
Explain to me a typical audit you would perform.

 
What type of training did you receive?

 
How long was the average audit that you performed?

 
How much money have you saved a company with your findings?

 
What types of operational improvements were implemented as a result of the audit recommendations?

 

Interview Questions on COST

 

 What is your cost background? Do you handle standard, job or labour costing or all three?

 
Which specific cost systems can you work with?

 
What type of variance analysis do you perform?

 
What inventory analysis do you perform?

 
What is your responsibility as it relates to the financial statements?

 
How does your department work with activity based costing?

 
What percentage of the budget are you responsible in your company for and what is the volume?

 

Financial Analysis

 
Please explain the type of analysis you perform in your company?

 
What is your role with the corporate budget? What is the total volume on that budget?

 
What type of work do you do with the profit and loss and/or balance sheet?

 
How much short or long term planning have you done?

 
What supervisory role do you play, in your company? Explain if any?

 
When your auditors come to your office how do you assist the auditors?

 
Explain any Financial Modeling? Have you developed any type of financial Modeling?

 
In what way did you utilize the accounting package and what type of ad hoc reporting did you perform?

 
What types of special projects did you handle in your company?

 
What is your role or interaction with executive management?

 
Interview Questions on Tax

 

 Explain your Experience on Taxing for corporate, partnership, personal, expatriate, property, sales, payroll, estate, trust, etc

 
What Tax software do you Know?

 
Have you any exposure to bankruptcy Filing?

 
What certifications do you have to practice in the tax field?

 
Have you been involved in any type of management or tax training?

 


 

 

 

 

 
Top 10 Job Interview Questions
We've compiled a list of the top 10 job interview questions, before attending for an interview many interview questions are to be expected and prepared before you attend for interview Study this list of top 10 job interview questions and plan your answers ahead of time so you'll be ready to deliver them with confidence.
Top Interview question 1:-

Can you tell us why are you choosing this company ? and why do you want to work for us?

Top Interview question 2:-

can you explain a situation where you didn't meet your goals or objectives ?

Top Interview question 3:-

Explain a situation where you faced conflict or difficult communication problems ?
Top Interview question 4:-

If you current manager has to tell about your strengths and weeknesses what would be your strengths and weeknesses?

Top Interview question 5:-

Where do you see yourself in 1/3/ 5 years time?

Top Interview question 6:-

Can you justify yourself Why should we give you this job?

Top Interview question 7:-

Tell us a situation you have faced with a huge challenge or worked to an unreasonable deadline?

Top Interview question 8:-

Do you prefer working your own or in a team?

Top Interview question 9:-

If you were to start working with our company what is the first thing you would change?

Top Interview question 10:-

Have you ever had a conflict with a boss / colleague /professor or with your family members? How was it resolved?
Question 1 : Tell me about yourself.

TRAPS: Beware, about 80% of all interviews begin with this “innocent” question. Many candidates, unprepared for the question, skewer themselves by rambling, recapping their life story, delving into ancient work history or personal matters.

BEST ANSWER: Start with the present and tell why you are well qualified for the position. Remember that the key to all successful interviewing is to match your qualifications to what the interviewer is looking for. In other words you must sell what the buyer is buying. This is the single most important strategy in job hunting.

So, before you answer this or any question it's imperative that you try to uncover your interviewer's greatest need, want, problem or goal.

To do so, make you take these two steps:

1. Do all the homework you can before the interview to uncover this person's wants and needs (not the generalized needs of the industry or company)

2. As early as you can in the interview, ask for a more complete description of what the position entails. You might say: “I have a number of accomplishments I'd like to tell you about, but I want to make the best use of our time together and talk directly to your needs. To help me do, that, could you tell me more about the most important priorities of this position? All I know is what I (heard from the recruiter, read in the classified ad, etc.)”

Then, ALWAYS follow-up with a second and possibly, third question, to draw out his needs even more. Surprisingly, it's usually this second or third question that unearths what the interviewer is most looking for.

You might ask simply, "And in addition to that?..." or, "Is there anything else you see as essential to success in this position?:

This process will not feel easy or natural at first, because it is easier simply to answer questions, but only if you uncover the employer's wants and needs will your answers make the most sense. Practice asking these key questions before giving your answers, the process will feel more natural and you will be light years ahead of the other job candidates you're competing with.

After uncovering what the employer is looking for, describe why the needs of this job bear striking parallels to tasks you've succeeded at before. Be sure to illustrate with specific examples of your responsibilities and especially your achievements, all of which are geared to present yourself as a perfect match for the needs he has just described.


How to Answer Interview Questions
Everyone is nervous on interviews. If you simply allow yourself to feel nervous, you'll do much better. Remember also that it's difficult for the interviewer as well.

In general, be upbeat and positive. Never be negative.

Rehearse your answers and time them. Never talk for more than 2 minutes straight.

Don't try to memorize answers word for word. Use the answers shown here as a guide only, and don't be afraid to include your own thoughts and words. To help you remember key concepts, jot down and review a few key words for each answer. Rehearse your answers frequently, and they will come to you naturally in interviews.

2. Behavioral Interview Questions
Behavioral interview questions will be more pointed, more probing and more specific than traditional interview questions:

1. Give an example of an occasion when you used logic to solve a problem.

2. Give an example of a goal you reached and tell me how you achieved it.

3. Describe a decision you made that was unpopular and how you handled implementing it.

4. Have you gone above and beyond the call of duty? If so, how?

5. What do you do when your schedule is interrupted? Give an example of how you handle it.

6. Have you had to convince a team to work on a project they weren't thrilled about? How did you do it?

7. Have you handled a difficult situation with a co-worker? How?

8. Tell me about how you worked effectively under pressure.

Follow-up questions will also be detailed. You may be asked what you did, what you said, how you reacted or how you felt.