Cipla CA fresher Interview Questions and Answers

Q1. Define what is a balance sheet?
Ans. 
A balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time.
• It shows the company's assets, liabilities, and shareholders' equity.

• Assets include cash, accounts receivable, inventory, and property.

• Liabilities include loans, accounts payable, and accrued expenses.

• Shareholders' equity represents the company's net worth.

• The balance sheet follows the formula...read more
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Q2. Describe the golden rules of Accounts?
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The golden rules of Accounts are basic principles that guide the recording of financial transactions.
• The first golden rule is the Personal Account rule, which states that debit the receiver and credit the giver.

• The second golden rule is the Real Account rule, which states that debit what comes in and credit what goes out.

• The third golden rule is the Nominal Account rule, which states that debit all expenses and losses
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Q3. Describe Types of Accounts ?
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Types of accounts include assets, liabilities, equity, revenue, and expenses.
• Assets: Resources owned by a company, such as cash, inventory, and property.

• Liabilities: Debts or obligations owed by a company, such as loans and accounts payable.

• Equity: Represents the owner's interest in the company's assets after deducting liabilities.

• Revenue: Income generated from the sale of goods or services.

• Expenses: Costs incurred in ...read more
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Q4. Theer Different types of accounts in accounting are Real account, Personal account and Nominal Account. Real account is then classified in two subcategories – Intangible real account, Tangible real account...read more
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Q1. Tell me about yourself.
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Q2. Why do you want to work for our company?
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Q3. Why are you looking for a change?
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Q4. What are your greatest strengths and weaknesses?
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Q1. Job role, understanding of role and past experience along with certifications and required skills.
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Q1. Face to face interaction on vertical knowledge with the accounts head.
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Q1. Profile and qualifications details
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Q1. Related to Core area
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Q1. Core area like costing, finance and excel
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Q1. Tell me about yourself?
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Q2. Why do you want to work for Viatris?
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Q1. Simple question like tell me about yourself
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Q2. What was your previous work profile
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I worked as a Senior Accountant at XYZ Corporation for 3 years.
• Managed financial statements and reports

• Prepared budgets and forecasts

• Supervised junior accountants

• Collaborated with other departments to ensure accuracy of financial data

• Implemented new accounting software

• Reduced expenses by 10% through cost-cutting measures
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Q1. How you will walk through a Company towards Ind AS adoption?
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Q2. What are the steps suggested in the Revenue recognition standard?
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The steps suggested in the Revenue recognition standard are identification, performance, and control.
• Identification of the contract with the customer

• Identification of the performance obligations in the contract

• Determination of the transaction price

• Allocation of the transaction price to the performance obligations

• Recognition of revenue when (or as) the entity satisfies a performance obligation

• Control of the goods or ser
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