Bharat Financial Inclusion Executive Accountant Interview Questions and Answers

Basi accounting questions solved

Q1. HR Discuss about old company and experience knowledge
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Q1. Which rules of accounts for using in daily entries?
Ans. 
The rules of accounts for daily entries include the principles of double-entry bookkeeping, accrual accounting, and the matching principle.
• Double-entry bookkeeping: Every transaction should have equal debits and credits to maintain the balance.

• Accrual accounting: Revenue and expenses should be recorded when earned or incurred, regardless of when the cash is received or paid.

• Matching principle: Expenses should be matche...read more
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Q2. Whya are you pass provision entry in month end?
Ans. 
Provision entry is passed in month end to account for expenses incurred but not yet paid.
• To ensure accurate financial statements

• To avoid understating expenses

• To comply with accounting standards

• To facilitate budgeting and forecasting
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Q3. Because, Current month expenses paid in next month then expenses showing in current month in provision.
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Expenses paid in next month but shown in current month provision explained.
• Expenses are recorded in the month they are incurred, not when they are paid

• Provision is made for expenses that are expected to be incurred but not yet paid

• If an expense is paid in the next month, it will still be recorded in the current month's provision

• This is done to ensure accurate financial reporting and forecasting
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Q1. Why are you leaving previous job?
Ans. 
Seeking new challenges and growth opportunities.
• Looking for a more challenging role to enhance my skills and knowledge.

• Seeking career advancement and professional growth.

• Wanting to work in a more dynamic and innovative environment.

• Desire to contribute to a company with a stronger mission alignment.

• Relocating to a different city or country.

• Company downsizing or restructuring.

• Personal reasons or family commitments.
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