BDO India LLP Interview Questions, Process, and Tips

Q1. Why bdo and audit
Ans. 
BDO is a reputable firm known for its quality audit services, providing a great learning opportunity for aspiring audit professionals.
• BDO is a well-established firm with a strong reputation in the audit industry

• Working at BDO will provide valuable experience and exposure to a variety of clients and industries

• Opportunity to work with experienced professionals and learn best practices in auditing

• Enhance skills in financi...read more
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Q1. Prepare AS and SA
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Q2. Basicmathsquestion
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Q3. Work hours relates
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Q1. Tell me about yourself Why BDO Why not big 4 firm Why you choosen statutory audit
Ans. 
I am a dedicated and ambitious individual with a strong interest in finance and auditing. I chose BDO because of its reputation for providing excellent training and opportunities for growth. While the big 4 firms are prestigious, I believe BDO offers a more supportive and inclusive work environment. I chose statutory audit because I enjoy analyzing financial statements and ensuring compliance with regulations.
• Dedicated...read more
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Q1. Difference in CARO 2016 and CARO 2020 Risk associated in sales Internal control Procedure to check sales As related questions SAs related questions
Ans. 
CARO 2020 has additional reporting requirements and emphasis on internal control and risk management compared to CARO 2016.
• CARO 2020 has added reporting requirements such as reporting on fraud, default in repayment of loans, and utilization of Corporate Social Responsibility funds.

• CARO 2020 emphasizes on internal control and risk management, requiring auditors to report on adequacy and effectiveness of internal financi...read more
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Internal Audit, Case scenario, Problem solving, Risk Identification, SOP, Controls

Q1. Tell me something about yourself, brief family background,
Ans. 
I come from a close-knit family with a diverse background.
• I have two siblings, an older brother and a younger sister.

• My parents are both professionals, my father is a doctor and my mother is a lawyer.

• We have a strong bond and often spend quality time together, such as going on family vacations or celebrating special occasions.

• Growing up, my family instilled in me the values of hard work, integrity, and compassion.

• My fa...read more
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Q2. Latest Joining date and Why this organization?
Ans. 
My latest joining date is 1st July 2022. I chose this organization because of its strong reputation, growth opportunities, and alignment with my career goals.
• Latest joining date: 1st July 2022

• Chose this organization due to its strong reputation

• Opportunities for growth and development

• Alignment with my career goals
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Q1. Tell me about yourself
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Q1. What is the Human Resource Management strategies applied and successful in your tenure.
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Q1. Where do you see yourself in 5years
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Basic question on accounting and fundamental of accounting

Q1. Fundamental accounting question are asked at least be hiring mangaer
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Q2. Nothing special is asked by team
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Q1. What is AR and the Journal entries related to it
Ans. 
AR stands for Accounts Receivable. Journal entries related to it are transactions that record the amount owed to a company by its customers.
• AR is a type of asset account that represents money owed to a company by its customers

• Journal entries related to AR include recording sales on credit, receiving payments from customers, and writing off bad debts

• Example: Recording a sale on credit would involve debiting AR and credi...read more
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Q2. Company ABC Ltd was provided services worth 1,00,000 and 10% TDS deducted, what should be the Journal entry
Ans. 
Journal entry for services worth 1,00,000 with 10% TDS deducted
• Debit the TDS account with 10,000

• Credit the vendor account with 90,000

• Credit the TDS payable account with 10,000
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Q3. If it becomes Insolvent what should be the entry.
Ans. 
If a company becomes insolvent, the entry should be recorded as a loss in the financial statements.
• Insolvency occurs when a company is unable to pay its debts and liabilities.

• The entry to record insolvency typically involves recognizing a loss on the balance sheet.

• The specific accounts affected will depend on the nature of the insolvency and the company's accounting policies.

• For example, if a company becomes insolvent ...read more
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Q4. In case the Bad debt is recovered what should be the entry
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If bad debt is recovered, the entry should be a reversal of the original bad debt write-off entry.
• Create a journal entry to reverse the original bad debt write-off entry

• Debit the bad debt recovery account for the amount recovered

• Credit the accounts receivable account for the same amount

• If any interest or fees were charged on the bad debt, those should be credited to the income account

• If the bad debt was previously writ...read more
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