Accord Superspeciality Hospital Interview Questions and Answers

Ind AS 16 is a standard for accounting treatment of property, plant and equipment. Depreciation is recognized based on useful life and residual value.

• Ind AS 16 provides guidelines for recognition, measurement, and disclosure of property, plant, and equipment in financial statements.

• Depreciation is recognized based on the useful life and residual value of the asset.

• The useful life and residual value of an asset are determined based on factors such as the expected usage, wear a...read more

Audit provides a unique opportunity to understand and improve business processes.

• Audit allows me to gain a deep understanding of how a business operates

• I enjoy identifying areas for improvement and providing recommendations

• Audit provides exposure to different industries and business models

• I find the work challenging and rewarding

• Examples: identifying control weaknesses, improving efficiency, reducing risk

TOE analysis is used to identify the reason for the change in balance sheet and P&L items.

• TOE stands for Time, Ownership, and Extent

• Time refers to the period in which the change occurred

• Ownership refers to who is responsible for the change

• Extent refers to the magnitude of the change

• TOE analysis helps in identifying the reason for the change in balance sheet and P&L items

• For example, a decrease in accounts receivable could be due to a decrease in sales (time), better collectio...read more

A walkthrough of balance sheet items involves reviewing and verifying the accuracy of each asset, liability, and equity account.

• Start with cash and cash equivalents, verifying bank balances and reconciling any discrepancies

• Review accounts receivable and payable, ensuring proper aging and allowance for doubtful accounts

• Examine inventory and fixed assets, checking for proper valuation and depreciation

• Verify the accuracy of long-term debt and equity accounts

• Ensure that all accou...read more

Current CTC is confidential, expected CTC is based on industry standards and my experience.

• Current CTC is confidential information as per company policy

• Expected CTC is based on industry standards and my experience in the role

• I am open to discussing compensation based on the responsibilities and expectations of the position

The differences between CARO 2016 and CARO 2020, materiality concept, 5 steps of Ind AS 115, Ind AS 116, and IFC testing.

• CARO 2016 focused on reporting requirements for companies, while CARO 2020 introduced additional reporting requirements related to fraud and internal controls.

• Materiality concept in accounting refers to the significance of an item or event in financial statements. It helps determine what information is important for users of financial statements.

• Ind AS 115 ...read more

Payroll testing involves verifying accuracy of payroll calculations, deductions, and compliance with regulations.

• Review payroll policies and procedures

• Test payroll calculations for accuracy

• Verify deductions such as taxes, benefits, and garnishments

• Ensure compliance with labor laws and regulations

• Sample test cases include testing overtime calculations, verifying employee classifications, and checking for accuracy in bonus payments

The lap length for 8mm dia steel is typically calculated based on the type of structure and the design requirements.

• Lap length is the amount of overlap required between two steel bars in a reinforced concrete structure.

• It ensures the transfer of load between the bars and prevents the formation of cracks.

• The lap length for 8mm dia steel can vary depending on factors such as the grade of steel, concrete cover, and design codes.

• For example, as per IS 456:2000 (Indian Standard), ...read more