interview

Question 1

code of ethics

Answer 1

*Professionalism – behaviour in work place, dress code, body language
*Professional competence – not doing task you don’t know how to do or asking for help when unsure for example if someone is sick and you have to cover but don’t know what ur doing
*Confidentiality – not leaking data, ie giving out phone numbers when doing reception phone, GDPR
*Integrity – honest in everything I do, doing things I said I would do, timesheets/ payments
*Objectivity – timesheets/ payments – not allowing bias or conflict of interest to interfere in professional judgement

Question 2

professionalism

Answer 2

behaviour in work place, dress code, body language

Question 3

Professional competence

Answer 3

not doing task you don’t know how to do or asking for help when unsure for example if someone is sick and you have to cover but don’t know what ur doing

Question 4

confidentiality

Answer 4

not leaking data, ie giving out phone numbers when doing reception phone, GDPR

Question 5

Integrity

Answer 5

honest in everything I do, doing things I said I would do, timesheets/ payments

Question 6

Objectivity

Answer 6

timesheets/ payments – not allowing bias or conflict of interest to interfere in professional judgement

Question 7

Capital income

Answer 7

this is income generated from one-off transactions, for example selling a vehicles

Question 8

Capital expenditure

Answer 8

this is a purchase of an asset that will used in the business for a long period For example purchase of out jet vak (paid in full upfront)

Question 9

Revenue Income

Answer 9

income generated from regular transactions made by the business for example payment on completion of a job

Question 10

Revenue expenditure

Answer 10

the cost of running the business for example gas and electric bills

Question 11

Personal effectiveness

Answer 11

: Examples given of task list making sure I meet the deadlines talked about key dates in the finance calendar.

Question 12

Interpersonal skills

Answer 12

– communication, active listening, positive attitude, teamwork

Question 13

Customer focus

Answer 13

understanding customer needs – example given of adding a query page for them to complete this helps me and them to understand and cover everything they need. 2nd example – suppliers. Don’t use jargon.

Question 14

Sales transaction

Answer 14

quotation → Agreement made → (if new get customer info/ credit details/ run credit check) → purchase order received → item delivered/ sent with Pod → send over invoice → credit note if required → send over a statement of customers account.
Sales – credit
customer account – debit

Question 15

Recording petty cash

Answer 15

– a petty cash voucher is received filled in and signed by the person requesting payment and a the person who has approved the payment → money is taken out the locked tin and given to the person → money taken out of petty cash will be posted to the credit side of petty cash book → and money put in is posted as a debit → at the end of month petty cash book is prepared and reconciled to ensure there are no discrepancies or missing cash. ( receipts must be kept for at least 6 years)

Question 16

Recording purchase transactions

Answer 16

– request a quotation → send a po → item received w pod → Invoice received → process invoice → debit purchases , credit supplier account → cost invoice to correct cost head → get approval → off hold → reconcile account → payment – remittance sent.

Question 17

Recording cash and bank transactions

Answer 17

– enter date, details (such as company name) → enter amount in the cash column if goods or service was paid immediately, with physical money → enter amount in bank column is money was received or sent from the bank → enter vat amount if the transaction is not for a credit receivables or credit payable , as the vat will have already been posted.
check opening balance matches on cashbook and bank statement → match of transactions on the bank statement with the ones already on the cashbook → post any missing payment onto the debit side of the cashbook → add any missing money received to the credit side of the cashbook → re reconciles cashbook