Citicorp Fund Accounting Specialist Interview Questions and Answers

Q1. All about derivatives
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Q2. All About Journal entries
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Q1. Tell me about yourself
Ans. 
I am a detail-oriented accounting professional with 5 years of experience in financial analysis and reporting.
• Bachelor's degree in Accounting from XYZ University

• Proficient in using accounting software such as QuickBooks and SAP

• Experience in preparing financial statements and conducting audits

• Strong analytical skills and attention to detail

• Excellent communication and teamwork abilities
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Q1. Discussed job, typical behavioral
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Q1. 1. What is the impact of CA on NAV 2. How do dividend impact NAV 3. What is The journal entries for Dividend payable /receivable 4. What is the impact if trades are not booked in Accounting 5.
Ans. 
The impact of CA and dividends on NAV, journal entries for dividends, and consequences of unbooked trades in fund accounting.
• CA can impact NAV by affecting the valuation of assets and liabilities in the fund.

• Dividends can impact NAV by increasing or decreasing the fund's total value.

• Journal entries for Dividend payable: Debit Dividend Payable, Credit Cash; Dividend receivable: Debit Cash, Credit Dividend Income.

• Unbooke...read more
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Mostly asked about the basics of derivatives and corporate action adjustments in the books

Q1. What was the journal entry for prepaid rent which has paid at beginning of the month for the whole year and entry at the end of month ?? Which is entry affects the networth??
Ans. First entry being debit prepaid rent and credit to bank and second entry at the end of the month would be debit rent expense and credit to prepaid rent. Second entry would affect the networth
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Q2. Why RBI increase Repo rate to control inflation ?
Ans. 
RBI increases Repo rate to control inflation by reducing money supply and increasing cost of borrowing.
• Repo rate is the rate at which RBI lends money to commercial banks.

• When RBI increases Repo rate, it becomes expensive for banks to borrow money from RBI.

• Banks then increase their lending rates to customers, which reduces borrowing and spending.

• This reduces money supply in the economy, which helps in controlling inflat...read more
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Q3. What was difference between options and future?
Ans. 
Options give the right but not the obligation to buy or sell an asset at a predetermined price, while futures require the buyer or seller to fulfill the contract at a specific date and price.
• Options provide flexibility to the buyer as they can choose whether or not to exercise the option, while futures require the buyer or seller to fulfill the contract.

• Options have a premium that the buyer pays to the seller for the r...read more
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Q4. What impact do share price have on issue of dividend ? And what was the reason behind it?
Ans. 
The share price has an impact on the issue of dividends as it affects the dividend yield and the amount of cash paid out to shareholders.
• Share price affects the dividend yield, which is calculated by dividing the annual dividend per share by the share price.

• A higher share price reduces the dividend yield, making the stock less attractive to income-seeking investors.

• Share price also affects the amount of cash paid out a...read more
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Q5. What is the entry for share purchased today which will be credited into demat on T+2?
Ans. 
The entry for share purchased today credited into demat on T+2 is a debit to the cash account and a credit to the demat account.
• Debit cash account

• Credit demat account

• Occurs on T+2

• Reflects purchase of shares
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Q6. What is the technical term we use for the bond interest
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The technical term for bond interest is coupon rate.
• Coupon rate is the fixed annual interest rate paid on a bond.

• It is expressed as a percentage of the bond's face value.

• For example, a bond with a face value of $1000 and a coupon rate of 5% will pay $50 in interest annually.

• Coupon payments are usually made semi-annually or quarterly.
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Q1. What was the developments that you would like to make in yourself
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Q2. Describe yourself in three adjectives
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Q1. Why should we hire you?
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Q2. Why you chose Morgan Stanley?
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Q3. Why you were interested in this role?
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Q4. Why you chose this industry?
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Q5. If you were offered more pay would you go to the competitior?
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Q1. NAV Calculation, Reconciliation, difference between NAV & GAV, Corporate Action
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