Coal India Accountant Interview Questions and Answers

Q1. Invoice processing
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Q2. GSTR 3B RETURN Process
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Q3. Two way invoice matching
Ans. 
Two way invoice matching is a process where the invoice is matched with the purchase order and the receiving report.
• Two way invoice matching involves comparing the invoice with the purchase order to ensure the prices and quantities match.

• It also involves comparing the invoice with the receiving report to confirm that the goods or services were received.

• Any discrepancies found during the matching process need to be reso...read more
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Q4. TDS section and rate of deduction
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TDS stands for Tax Deducted at Source. It is a tax deduction made by the payer while making payments.
• TDS is deducted as per the rates specified by the Income Tax Department.

• Different sections of the Income Tax Act specify different rates for TDS deduction.

• For example, TDS on salary income is deducted under section 192 at the applicable slab rates.

• TDS on interest income is deducted under section 194A at the rate of 10%.
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Q1. Salary discussion
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Q1. Golden rules of accounting
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Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• There are three golden rules of accounting: Debit what comes in, Credit what goes out, Debit the receiver, Credit the giver, Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified.

• For example, when a company receives cash from a...read more
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Q1. Golden rules of accounting
Ans. 
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• There are three golden rules of accounting: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a com...read more
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Q1. Golden rules of account
Ans. 
The golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The three golden rules are: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules ensure that the accounting equation (Assets = Liabilities + Equity) remains balanced.

• For example, when a company receives cash from a custo...read more
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Q1. DM water parameter . Cold startup Coal analysis.
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Q1. About your career and structured questions
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Q1. Can you provide an overview of your total work experience and describe your most recent job profile?
Ans. 
I have 8 years of experience in retail management, with my most recent job as a Store Manager at a large department store.
• Managed a team of 20+ employees and oversaw daily operations

• Responsible for inventory management, sales targets, and customer service

• Implemented new strategies to increase sales and improve customer satisfaction

• Collaborated with vendors and conducted regular performance reviews

• Trained new employees ...read more
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Q2. What information can you provide regarding take-home salary?
Ans. 
Take-home salary is the amount an employee receives after deductions such as taxes and benefits.
• Take-home salary is the net amount received by an employee after deductions for taxes, insurance, retirement contributions, etc.

• It is the actual amount that an employee takes home and can use for personal expenses.

• Take-home salary can vary based on factors such as tax rates, benefits packages, and deductions.

• Employees should...read more
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Q1. What is your experience with purchasing processes and SAP?
Ans. 
I have 5 years of experience managing purchasing processes and using SAP for inventory management.
• Managed purchasing processes for a retail company, including vendor selection, negotiation, and order placement

• Utilized SAP software for inventory management, tracking stock levels, and generating purchase orders

• Trained team members on how to use SAP for purchasing and inventory tasks
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Q2. How you handle inventory & project
Ans. 
I handle inventory by conducting regular audits, implementing efficient tracking systems, and forecasting demand. For projects, I use project management tools, set clear goals, and communicate effectively with team members.
• Conduct regular audits to track inventory levels and identify any discrepancies

• Implement efficient tracking systems such as barcode scanning or RFID technology

• Forecast demand based on historical data...read more
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The aptitude test is conducted.

In a discussion on a specific topic, there is a group of five people present for the group discussion.

Q1. What is a transformer?
Ans. 
A transformer is an electrical device that transfers electrical energy between circuits through electromagnetic induction.
• Transforms voltage levels: Increases (step-up) or decreases (step-down) voltage.

• Used in power distribution: Essential for transmitting electricity over long distances.

• Consists of primary and secondary coils: Energy is transferred through magnetic fields.

• Example: A step-down transformer reduces 220V
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