General Accounting - Cross Functional Training

All are part of General Accounting taxonomy except for:

• Lease accounting

• Allocation

• Procurement

• Equity Accounting

Which is not a Balance sheet Reconciliation accounts in scope for General Accounting

• Other assets

• Other Liabilities

• Equity Clearing

• Accrued Liabilities

These are the journal entries performed by GA team Except:

• Payroll Entries

• Equity Clearing Entries

• Dividends

• Profit Center Reclass

An accountant does the post close check when he does the following except:

• Post-close meeting

• RCA discussion

• BSAR Attestation

• Reconciling item monitoring/update

On the Interaction Model, they are the Go-To, facilitating operational resolution and connecting stakeholders.

• SME

• Stakeholders

• External Partners

• OKC

What kind of lease only handled by General Accounting?

• Finance Lease

• Operating Lease

• Both leases above

• Neither of the two

A short-term lease which is often cancellable is known as

• Finance Lease

• Net Lease

• Operating Lease

• Leverage Lease

Which lease characteristic that the ownership retain by the lessor during and after the lease term?

• Operating Lease

• Finance Lease

• Neither of the two

• Both of the two

Which two parties involved in the arrangement of a Lease?

• Lesee & Lessor

• Lesor & Lessee

• Lesor & Leasee

• Lessee & Lessor

A lease which is generally not cancellable and covers full economic life of the asset is known as

• Sale and leaseback

• Operating Lease

• Finance Lease

• Economic Lease