ASA & Associates Senior Manager Interview Questions and Answers

Q1. Basics of Accounts
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Q1. Advanced Accoutnts
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Q1. Everything about your experience
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Q1. What is the accrual process, and can you provide an example?
Ans. 
Accrual process is a method of recognizing revenues and expenses when they are incurred, regardless of when cash is exchanged.
• Accrual process involves recording revenues and expenses in the period they are earned or incurred, regardless of when cash is received or paid.

• This method provides a more accurate representation of a company's financial position and performance.

• For example, if a company provides services in Dec...read more
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Q2. What is the prepaid process and how does it impact the profit and loss statement?
Ans. 
Prepaid process involves receiving payment for goods or services before they are delivered, impacting profit and loss statement by deferring revenue recognition.
• Prepaid process involves receiving payment in advance for goods or services.

• Revenue from prepaid items is recognized gradually over time as the goods or services are delivered.

• Prepaid expenses are recorded as assets on the balance sheet until they are used or e...read more
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Q1. Explain P2p PROCESS
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Q2. Identify fraud risks
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Adobe Iluustrator assignment of a 4 pager layout

Q1. How will you deal with multiple projects
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Q2. How to deal with work related issues
Ans. 
Address work related issues by communicating openly, seeking solutions collaboratively, and prioritizing tasks effectively.
• Communicate openly with colleagues and supervisors to address any issues that arise

• Seek solutions collaboratively by brainstorming with team members and seeking input from others

• Prioritize tasks effectively to ensure that important issues are addressed in a timely manner
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Q1. Salaries related enteries
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Q1. Journal entries related to deferred revenue, accrual
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Q2. Journal entries related to recording of expenses and incomes
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Q1. Introduction yourself to check ur communication
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Q1. Basic accounting concepts
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Q1. Asking about accounting concepts basic level and check ur communication also
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Q1. Finally interview with MD ,asking about introduction and technical questions like accounting entry and taxation and what are responsibility of previous company
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