I will go to an interview this Friday. They require the bookkeeper to have experience with inter company accounts and understand how to balance with journal entries for each entity.
I understand 2 units under one entity can have transactions with each other, they can sell inventory or service to each other. And when doing the consolidated financial statement, we have to eliminate the effect of the intercompany transactions so we won't overstate the sales or profit.
Is that right? Can I add something to make my answer more impressive if they ask this question?
And also, the interviewer is a training school, a registered training organisation, do you have any suggestions on my interview preparation for this kind of entity?
Really thank you for reading this email,
Your response will be appreciated,