Bizpole Interview Questions and Answers

Q1. Explain P2P Process in Accounts
Ans. 
P2P process in accounts refers to the procure-to-pay process, which involves purchasing goods or services and paying for them.
• P2P process starts with the requisition of goods or services needed by a company.

• Once approved, a purchase order is created and sent to the supplier.

• Goods or services are received and an invoice is generated by the supplier.

• The invoice is matched with the purchase order and goods receipt, and th...read more
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Q2. Deferred Revene and Expenditure
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Q3. Entries for Sales and Receivables
Ans. 
Entries for Sales and Receivables involve recording sales transactions and tracking amounts owed by customers.
• Record sales revenue when goods or services are delivered to customers

• Track accounts receivable to monitor amounts owed by customers

• Reconcile sales and receivables to ensure accuracy of financial records
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Q4. Whats is the Payroll Entries you pass at the endof the month
Ans. 
Payroll entries include recording salaries, wages, taxes, and benefits for employees.
• Recording gross wages for employees

• Deducting taxes such as income tax and social security

• Adding employer contributions to benefits like healthcare or retirement plans

• Accruing vacation or sick leave balances

• Adjusting for any bonuses or commissions earned
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Q5. What is the entry for purchase from Vendor before receipt of bill from them
Ans. 
The entry for purchase from Vendor before receipt of bill is a debit to Inventory and a credit to Accounts Payable.
• Debit Inventory account for the cost of the purchase

• Credit Accounts Payable to show the amount owed to the vendor

• Once the bill is received, adjust the entry accordingly
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Q1. Why Carrer switch
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Q1. Walk me through a DCF
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Q2. What is FCFF and FCFE?
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Q3. Why do we use mid-period convention?
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Q4. How is terminal value calculated?
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Q5. Why do we use DLOM and DLOC? How do we determine them?
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Q6. When do we use DCF? How do you select comparable companies when using Market Approach?
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Q1. What sort of valuation engagements have you worked on?
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Q2. Why do we normalize and/or adjust EBITDA?
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Q3. What is CCF? When do we use CCF over DCF?
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Q4. Why do we use DLOM and DLOC? How do we determine them?
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Q5. What are the factors you would consider while valuing small businesses?
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Q1. Tell me about yourself?
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Q2. Why Withum and where did you hear about the firm?
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Q3. Why are you planning to switch?
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Q4. What are your expectations with the role?
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Q1. How do we test for completeness of asset
Ans. 
Completeness of assets can be tested by reconciling physical assets with recorded assets, conducting inventory counts, and reviewing documentation.
• Reconcile physical assets with recorded assets to ensure all assets are accounted for

• Conduct regular inventory counts to verify the presence of all assets

• Review documentation such as purchase orders, invoices, and receipts to confirm the acquisition of assets

• Perform random s
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Q1. Personal questions
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Q1. Tell me about yourself Caro 20 amendment Schedule 3 amendment
Ans. 
I am a dedicated and experienced consultant with a strong background in project management and problem-solving skills.
• Briefly mention your professional background and experience

• Highlight key skills and strengths relevant to consulting

• Mention any specific achievements or projects that showcase your abilities

• Discuss your passion for helping clients achieve their goals
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Q1. Intro Few question
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Q1. General experience questions & basics of the field
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Q2. Question related to field work
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Question solving questions

Q1. Taxation direct and indirect, accounts
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Based on practicle case scenario

It was based on taxation accounts and real life experience.