BA Continuum Assistant Manager Finance Interview Questions, Process, and Tips

Q1. What is the Accrued Expenses
Ans. 
Accrued expenses are expenses that have been incurred but not yet paid or recorded.
• Accrued expenses are recognized as liabilities on the balance sheet.

• They represent expenses that have been incurred in one accounting period but will be paid in a future period.

• Examples of accrued expenses include salaries payable, interest payable, and utilities payable.

• Accrued expenses are typically recorded through adjusting entries a
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Q2. What is Accrued Liability
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Accrued liability refers to an expense that has been incurred but not yet paid or recorded.
• Accrued liability is a financial obligation that a company has incurred but has not yet paid.

• It is recorded as a liability on the company's balance sheet.

• Examples of accrued liabilities include salaries payable, interest payable, and taxes payable.

• Accrued liabilities are typically recognized through accrual accounting, matching e...read more
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Q3. What is Golden Rule of accounting
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The Golden Rule of accounting states that debit the receiver and credit the giver.
• The Golden Rule is a fundamental principle in accounting.

• It helps in maintaining the balance in the accounting equation.

• According to the rule, for every transaction, there must be a debit entry and a corresponding credit entry.

• Debit refers to the left side of an account, while credit refers to the right side.

• The rule ensures that the acco...read more
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Q1. Revenue Standard ASC 606 Discussion
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Q2. Case basis discussion on step 4 of ASC606
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According

Q1. What you know about ind as
Ans. 
Ind AS stands for Indian Accounting Standards which are converged with International Financial Reporting Standards (IFRS).
• Ind AS are a set of accounting standards notified by the Ministry of Corporate Affairs (MCA) in India.

• They are based on IFRS and are mandatory for certain companies to follow.

• Ind AS aim to bring transparency, comparability, and consistency in financial reporting.

• They cover various aspects of account...read more
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Q2. TDS compliances and 194c
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