ASA & Associates Interview Questions, Process, and Tips

I have 5 years of experience in the retail industry, specifically in managing inventory and customer service.

• Managed inventory levels to ensure products were always in stock

• Implemented customer service training programs for staff

• Analyzed sales data to make informed decisions on product selection and pricing

Different ind AS are accounting standards used in India to prepare financial statements.

• Ind AS 115 - Revenue from Contracts with Customers governs how revenue should be recognized in financial statements.

• Ind AS 116 - Leases specifies how leases should be accounted for in financial statements.

• Ind AS 109 - Financial Instruments provides guidelines on how financial instruments should be measured and presented in financial

Audit procedures are used to gather evidence and assess the accuracy of financial statements.

• Performing analytical procedures to identify unusual trends or fluctuations

• Conducting tests of details to verify specific account balances or transactions

• Reviewing internal controls to assess their effectiveness in preventing and detecting errors or fraud

• Confirming balances with third parties to validate the accuracy of financi

I have experience in managing a team, handling customer inquiries, and implementing new strategies.

• Managed a team of 10 customer service representatives

• Handled customer inquiries via phone, email, and in-person

• Implemented new strategies to improve customer satisfaction and retention

• Collaborated with other departments to streamline processes and increase efficiency

I am motivated to join this company because of its strong reputation in the industry, opportunities for growth and development, and alignment with my career goals.

• Strong reputation in the industry

• Opportunities for growth and development

• Alignment with my career goals

The golden rules of accounting are basic principles that guide the process of recording financial transactions.

• Debit what comes in, credit what goes out

• Debit the receiver, credit the giver

• Debit expenses and losses, credit income and gains

• Debit assets, credit liabilities and equity

Audit risks include inherent risk, control risk, and detection risk.

• Inherent risk: Risk of material misstatement in the absence of internal controls.

• Control risk: Risk that internal controls fail to prevent or detect material misstatements.

• Detection risk: Risk that audit procedures fail to detect material misstatements.

• Examples: Inherent risk may be high in industries prone to fraud, control risk may be high in compani...read more

I am a dedicated and hardworking individual with a passion for accounting and a strong desire to learn and grow in the field.

• Graduated with a degree in Accounting

• Completed internships at accounting firms

• Strong analytical and problem-solving skills

• Currently pursuing CPA certification