B S R & Co Llp Interview Questions, Process, and Tips

English, maths, logical reasoning, dara interpretation

Pros and cons of internet

Q1. Introduce yourself
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Q2. Willing to travel
Ans. 
Yes, I am willing to travel for the role of Audit Assistant.
• I am open to traveling to different client locations for audits.

• I understand that travel may be required to perform the job effectively.

• I am flexible and adaptable to different travel schedules and locations.

• I have previous experience traveling for work purposes.

• I am willing to make necessary arrangements and accommodations for travel.
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Q1. Difference between ammortization and depreciation
Ans. 
Amortization is the gradual reduction of an intangible asset's value, while depreciation is the gradual reduction of a tangible asset's value.
• Amortization applies to intangible assets like patents, copyrights, and trademarks.

• Depreciation applies to tangible assets like buildings, vehicles, and machinery.

• Amortization is typically calculated using the straight-line method.

• Depreciation can be calculated using various meth...read more
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Q2. What is Bank reconciliation
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Bank reconciliation is the process of comparing and matching the balances in a company's accounting records with the balances shown on the bank statement.
• Bank reconciliation ensures that the company's records accurately reflect the transactions and balances in its bank accounts.

• It involves comparing the company's cash account balance, including deposits and withdrawals, with the bank statement.

• Any discrepancies between...read more
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Q3. Accounting principles
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Q1. What are Golden rules of accounting?
Ans. 
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The three golden rules of accounting are: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a compa...read more
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Q2. What are financial statements?
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Financial statements are formal records of the financial activities and position of a business, organization, or individual.
• Financial statements include the balance sheet, income statement, and cash flow statement.

• They provide information on the financial performance, financial position, and cash flows of an entity.

• Balance sheet shows assets, liabilities, and equity at a specific point in time.

• Income statement shows re...read more
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Q1. General discussion.
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Q1. What is depreciation?
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Depreciation is the allocation of the cost of a tangible asset over its useful life.
• Depreciation is a non-cash expense that reduces the value of an asset over time.

• It reflects the wear and tear, obsolescence, or decrease in value of the asset.

• Common methods of calculating depreciation include straight-line, double declining balance, and units of production.

• Example: A company purchases a delivery truck for $50,000 with ...read more
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Q2. Does land depreciate?
Ans. 
Land does not depreciate in value over time.
• Land is considered to have an indefinite useful life and therefore does not depreciate.

• Unlike buildings or machinery, land does not wear out or become obsolete.

• The value of land can fluctuate based on factors such as location, demand, and zoning regulations.
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Q3. Tell me about yourself.
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Q4. Golden rule of accounting.
Ans. 
The golden rule of accounting states that debit what comes in and credit what goes out.
• Debit what comes in and credit what goes out

• Assets = Liabilities + Equity

• Revenue increases equity, expenses decrease equity
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Q5. Question on cash flow statement.
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Q6. What do you understand by audit?
Ans. 
Audit is a systematic examination of financial records, statements, or operations to ensure accuracy and compliance with laws and regulations.
• Audit involves reviewing financial records, statements, or operations of an organization.

• The purpose of an audit is to ensure accuracy, reliability, and compliance with laws and regulations.

• Auditors use various techniques such as sampling, testing, and analysis to gather evidence...read more
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They give you the topic and give you 2min to think on it

Q1. Journal entries
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Q2. Basic accounting questions
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Q1. Tell me about yourself
Ans. 
I am a detail-oriented professional with a strong background in auditing and data analysis.
• I have a Bachelor's degree in Accounting and Finance

• I have experience working as an Audit Intern at XYZ Company

• I am proficient in using data analysis tools such as Excel and Tableau

• I have strong analytical skills and attention to detail
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Q2. Can you travel long
Ans. 
Yes, I am able to travel long distances for work if required.
• I have experience traveling for work in my previous roles

• I am comfortable with long flights or drives

• I am willing to travel for audits as needed
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