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Use it to verify the accuracy of the balance sheet by comparing the numbers present in General Ledger to the other forms of documentation
An index of all possible financial accounts in a company's General Ledger
Donation of property or money to a non-profit to be used for specific purposes
Management, maintenance, and monitoring of motorized and non-motorized assets
Is the cut-off of financial activities of an organization to generate financial reports for stakeholders
If people or entities cannot repay debts to creditors, they can seek relief for some or all of their debt through this legal process
Closing of a small business's General Ledger to transfer temporary-account balances to retained earnings to reduce the balances to zero
The hiring managers felt that through the technical questions that they asked during the panel interviews, they were able to tell which candidates had better scores, and differentiated with those who did not score as well. They are highly satisfied with the quality of candidates shortlisted with the Adaface screening.
Human Resources Manager
These are just a small sample from our library of 10,000+ questions. The actual questions on this test will be non-googleable.
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Evaluate candidates on account codes, balance sheet reconciliation, chart of accounts, credit & debit, endowment, and fiscal closing skills with Adaface Accounting assessment testing platform powered with an intelligent chatbot.
Petty Cash is a small amount of money utilized to pay small expenses
It is a number that is used in IFIS to identify the function associated with a balance or transaction
Are activities that function as a non-profit business
Cash investment pool geared towards maximizing returns on short-term cash balances
Set of procedures, standards, and principles
Is the process of matching the balances in an organization's/individuals accounting records for a cash account to the corresponding information on their bank statement.
Bookkeeping is a practice of maintaining and recording all financial transactions in a business
Process of planning the expenses for a given duration of time
Is the act of ensuring a business maximizes its potential production and activities output
Refers to the process of managing and collecting cash flow
Refers to an accounting procedure that occurs at the end of each month or a fixed time by the company
Refers to the amount owed to the business by its customers
Refers to a company's book value
It's a broader measure of the worth of an asset
Use it to evaluate budgets, projects, businesses, and finance-related transactions
The official or formal records of the financial activities of an entity
Assets purchased for long-term use and are not cashed in immediately
Set of unique standards, accounting systems, and processes supporting the federal government
The body of accounting that deals with valuing accounting for changes in the inventoried assets
Its the process of storing, using, ordering, and selling a company's inventory
When two separate entities combine forces to become a joint new organization
The way with which non-profit organizations record, plan, and report their finances
Something that is created any time money is owed by a firm for products or services rendered
A business process of payment for paying employees
The annual pension expense disclosure and calculation of a pension plan's liabilities and assets in a company's financial statement
Known as the act of keeping track of all the activities of a company, individual, or an organization
Is a generally accepted accounting principle (GAAP) that identifies the specific conditions in which revenue is recognized and it determines how to account for it
An individual who owns the business by themselves
Use it to classify balances and financial activities within the General Ledger
Accounting lets you keep a track of how much money your business has earned and how much money it has paid out. This helps you remember how much your current profit or loss is, compared to the previous quarters.
In short, accounting allows you to know exactly what your business has been up to when it comes to business finances. It helps keep you organized so you can legally and accurately fill out your tax returns.
If you have shareholders in your small business, it becomes really important to show rather than tell. Accounting helps one do just that.
Shareholders will hold you accountable for the success of your business. Just by looking at the accounting records, they can observe your business’s growth and success.
Accounting also helps you hold your employees accountable. Helps you stay up-to-date on things like performing trial balances and reconciling bank statements. That way, any fraudulent activity can be caught before it takes too much of a toll on your business.
Business owners usually dread small business tax filings, especially because they have no idea where to begin. This is where the importance of accounting in business comes in.
Step one of filing your tax return requires the gathering of financial records. Without such records (e.g., financial statements), it'll be difficult to be able to enter the correct numbers onto your returns.
If you get audited by IRS, what happens? You need to show them that you’ve done your share of due diligence and have all the necessary accounting information to back up your returns.
All your purchase and expenditure decisions can be made after going through your accounting records to identify whether it is feasible to make that purchase/ expense or not.
Accounting can help guide the decisions you make so you avoid common business mistakes, like:
Conduct a risk analysis especially for small businesses before you make a change in your business. This way, you can determine whether taking that risk could benefit or damage your business.
With accounting, you have the numbers showing your business’s expenses and revenue before the change. After you make the change, it can be used to compare the numbers. This way, you know whether your strategy helped or hurt your business.
Any investor or lender requires information about your business's financials before they make a decision to invest in your business or lend you money. This means that they would want to have a look at your business’s accounting books.
Ideally, you must show investors and lenders your business’s financial statements. This helps them obtain information about your profitability.
Without organized accounting books, your profitability claims, financial statements, and financial forecasts won’t be accurate or have any backing.
Accounting online assessment test is designed and validated by industry experts to help tech recruiters and hiring managers to assess the Accounting skills of the candidate. Top companies are using our Accounting online skills test to reduce candidate screening time by 85%.
The Accounting test screens candidates for the following skills:
The insights generated from this assessment can be used by recruiters and hiring managers to identify the best candidates for the role. Anti-cheating features enable you to be comfortable with conducting assessments online. The Accounting online assessment test is ideal for helping recruiters identify which candidates have the necessary accounting skills to do well on the job.
The Accounting Online assessment test is designed to test for basic accounting fundamentals and hands-on advanced accounting skills in using functions and more:
Basic Accounting Skills: These questions are designed to evaluate a candidate's knowledge and expertise of fundamental concepts in Accounting - like Understanding Accrual basis accounting, Cash basis accounting, Accounts payable, Accounts receivable, etc.
Advanced Accounting skills: These questions are designed to assess a candidate's accounting skills in topics like Joint Stack Companies, Bonus Share & Right Share, Debentures, Company Final Accounts, Ratio Analysis, Departmental Accounts, Branch Account, Consignment Account, etc.
The actual score distributon will vary based on your candidate pipeline quality, but you should typically expect ~20% of the candidates to do well on Adaface assessments.
The score distribution for our assessments follow the normal curve. This is a good sign- standardized tests like SAT and GRE follow the normal distribution (bell curve).
Status quo assessments typically have the exact opposite of the bell curve (too many candidates getting close to 0, too many candidates getting close to 100 and too few candidates in the middle). This is typically because they focus on theoretical questions or trick questions, which are very binary in nature- either you know the trick/ theory or you don’t.
🕒 Allotted Time: approx 45 mins
🧪 Test Options:
🕒 Allotted Time: approx 60 mins
🕒 Allotted Time: approx 75 mins
🕒 Allotted Time: approx 30 mins
Adaface conversational assessments are reflective of on-the-job skills and see an 86% completion rate as compared to ~50% for traditional assessment platforms.
Theoretical questions/ puzzles
Feels like a test
Questions for on-the-job skills
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes analyzing, reporting, and summarizing these transactions to regulators, agencies, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's financial position, operations, and cash flows.
The test is designed to enable recruiters and hiring managers to quickly identify which candidates should be invited to an interview.
This test will assess candidates on their fundamentals and depth of Accounting knowledge with questions on:
The questions are designed to test for on-the-job Accounting skills as opposed to just theoretical concepts.
Depending on the role and industry, an Accounting expert might require these skills:
Every role is different and requires a custom assessment to identify top candidates efficiently. Adaface subject matter experts understand your job description/ role requirements and pick the most relevant questions from our library of 10000+ questions to create a technical assessment that helps you find the qualified candidates in your candidate pipeline quickly. All custom assessments are set up based on the job description, role requirements, must-have skills, experience level and salary range within a maximum of 48 hours and you will get an email notification once it goes live.
Check out a sample assessment here (no credit card required).
Yes, absolutely. Custom assessments are set up based on your job description, and will include questions on all must-have skills you specify.
We believe that status quo tech assessment platforms are not a fair way for companies to evaluate engineers because they focus on trick questions/ puzzles/ niche algorithms. We started Adaface to help companies find great engineers by assessing on-the-job skills required for a role. Read more about why we started Adaface.
Here's what's different with Adaface:
We have the following anti-cheating features in place:
Read more the proctoring features.
The primary thing to keep in mind is that an assessment is an elimination tool, not a selection tool. As in an assessment is optimizing to help you eliminate candidates who are not technically qualified for the role, it is not optimized to help you find the best candidate for the role. So the ideal way to use an assessment is to decide a threshold score (typically 60%, we help you benchmark) and invite all candidates who score above the threshold for the next rounds of interview.
Each Adaface assessment is customized to your job description/ ideal candidate persona (our subject matter experts will pick the right questions for your assessment from our library of 10000+ questions). This assessment can be customized for any experience level.
Yes, it makes it much easier for you to compare candidates. Options for MCQ questions and the order of questions are randomized. We have anti-cheating/ proctoring features in place. In our enterprise plan, we also have the option to create multiple versions of the same assessment with questions of similar difficulty levels.
No. Unfortunately, we do not support practice tests at the moment. However, you can use our sample questions for practice.
You can check out our pricing plans.
The platform is completely self-serve, so here's one way to proceed:
Here is a quick guide on how to request a custom assessment on Adaface.
The screening signals that technical recruiters typically use: fluffed-up resumes, Github profiles, StackOverflow activity, educational qualifications and previous employers are noisy.
What it is, types and benefits, reservations against them, the rise of candidate friendly assessments and AI tools, and the best practices for implementing pre-employment testing in your company.
Most engineers today frown at the idea of completing a coding test, and over 50% straight out refuse to do status quo assessments (based on our research with 100+ companies in SEA).
With Adaface, we were able to optimise our initial screening process by upwards of 75%, freeing up precious time for both hiring managers and our talent acquisition team alike!
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