Ascent HR Technologies Private Limited Executive Accountant Interview Questions and Answers

Q1. What is deferred revenue?
Ans. 
Deferred revenue is income received by a company in advance of earning it, resulting in a liability on the balance sheet.
• Deferred revenue represents a liability for the company until the goods or services are delivered to the customer.

• It is common in subscription-based businesses where customers pay upfront for services that will be provided over time.

• Once the revenue is earned, it is recognized on the income statement...read more
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Q2. Dif b/w prepaid and postpaid exp ?
Ans. 
Prepaid expenses are paid in advance while postpaid expenses are paid after the service is received.
• Prepaid expenses are recorded as assets on the balance sheet until they are used up.

• Postpaid expenses are recorded as expenses on the income statement when they are incurred.

• Examples of prepaid expenses include insurance premiums and rent payments in advance.

• Examples of postpaid expenses include utility bills and salarie
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Written test of Accounts

Q1. Basic knowledge of accounting.
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Easy , about basis of accounts

Q1. Questions about Accounting
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Q1. Nothing much, only salary discussion
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Q1. MS Excel Journal Entry Gst calculations Account payable/receivable related questions Knowledge must needed for first round and written test.
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Q1. Gst calculation Exel knowledge journal entries knowlege foreign accounting basic knowledge
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Written test of mcq and accounts questions

Accountanting questions mostly asked

Q1. What do you know about gst
Ans. 
GST stands for Goods and Services Tax, a value-added tax levied on most goods and services sold for domestic consumption.
• GST is a consumption tax that is collected at each stage of the supply chain.

• It replaced multiple indirect taxes in India and aims to simplify the tax structure.

• GST has different rates for different goods and services, such as 5%, 12%, 18%, and 28%.

• Input tax credit can be claimed on GST paid on input...read more
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Q2. Lots of journal entries
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