Consero Global Solutions Accounting Specialist Interview Questions, Process, and Tips

Basic calculations and grammer

Q1. Depreciation and amortisation
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Q2. Operating costs
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Operating costs are the expenses associated with running a business on a day-to-day basis.
• Operating costs include rent, utilities, salaries, and supplies.

• These costs are necessary for the business to function and generate revenue.

• Monitoring and controlling operating costs is important for profitability and sustainability.

• Examples of operating costs: employee wages, office rent, insurance premiums, marketing expenses.
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Excel formulas with questions

Q1. Accrual concept
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Q2. Bad debt entry entry and effect
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There will be 3-4 test on accounting, grammar, reasoning, basic calculation and excel test

Q1. What is prepaid expenses
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Prepaid expenses are expenses that have been paid in advance but have not yet been incurred.
• Prepaid expenses are considered assets on the balance sheet until they are used up or expire.

• Common examples of prepaid expenses include prepaid rent, insurance premiums, and subscriptions.

• Prepaid expenses are initially recorded as assets and then gradually expensed over time as they are used or consumed.
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Q2. What is accrued expenses
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Accrued expenses are expenses that have been incurred but not yet paid for.
• Accrued expenses are recorded as liabilities on the balance sheet

• They represent expenses that have been recognized but not yet paid

• Examples include accrued salaries, interest, and taxes
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Q3. Journal entry of sale of fixed assets in case of profit on sale
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Journal entry for sale of fixed assets with profit involves debiting cash and accumulated depreciation, crediting fixed asset and gain on sale of asset accounts.
• Debit cash account for the amount received from the sale

• Debit accumulated depreciation account to remove the accumulated depreciation on the asset

• Credit fixed asset account to remove the cost of the asset from the books

• Credit gain on sale of asset account for t
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Q4. Golden rule of accounting
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The golden rule of accounting states that debit what comes in and credit what goes out.
• Debit what comes in and credit what goes out

• Assets = Liabilities + Equity

• Revenue = Expenses + Net Income
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Q1. Basic family details
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Q2. What is my expected salary
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Round 1 - Assesment test consists of
Aptitude
Communication
Excel
Email drafting
Accounting
And one-on-one technical.

Q1. Technical Round - Concepts and journal entries Accrual expenses Deferred revenue Prepaid expenses BRS Month end closing process AP and AR process and JD related topics.
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Q2. Round 3 - HR Round CV presentation
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