Consero Global Solutions Interview Questions, Process, and Tips

It's all about reasoning and aptitude

Q1. Adjustment entries in accounting
Ans. 
Adjustment entries are made to correct errors or omissions in accounting records.
• Adjustment entries are made at the end of an accounting period

• They are used to ensure that financial statements accurately reflect the company's financial position

• Examples of adjustment entries include depreciation, accruals, and prepayments

• Adjustment entries can be made manually or through accounting software
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Q2. Bank Reconciliation Statement
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Q1. About yourself and family
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Q2. Willing to relocate and
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Q1. 2) Revenue recognition 3) Business combination 4) unbilled revenue
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Q1. 1) Deffered revenue 2) Accrued expenses 3) salary journal entry
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Reasoning,English vocabulary,excel test

Q1. What is accrual,what is deffered revenue
Ans. 
Accrual is recognizing revenue and expenses when they are incurred, not when cash is exchanged. Deferred revenue is when payment is received before revenue is earned.
• Accrual accounting matches revenue and expenses to the time period they are incurred, not when cash is exchanged

• Deferred revenue is when a company receives payment for goods or services before they are actually delivered or earned

• Accrual accounting provide...read more
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Q1. How to find cogs,what is unbilled revenue
Ans. 
COGS can be found by subtracting ending inventory from beginning inventory and adding purchases. Unbilled revenue is revenue that has been earned but not yet billed to the customer.
• COGS = Beginning Inventory + Purchases - Ending Inventory

• Unbilled revenue is revenue recognized in the income statement but not yet invoiced to the customer

• Unbilled revenue is a liability on the balance sheet until it is invoiced
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Q2. What is un earned revenue
Ans. 
Unearned revenue is money received by a company for goods or services that have not yet been provided.
• Unearned revenue is a liability on the company's balance sheet until the goods or services are delivered.

• It represents an obligation to provide goods or services in the future.

• Common examples include prepaid rent, magazine subscriptions, and advance payments for services.

• As the goods or services are provided, the unear...read more
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Q1. Tell us about your strength and weakness
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Q1. Question on AP, Reconciliation, Prepaid Income and Expense
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Aptitude test was mcq based.

Q1. Questions from Accrual concept
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Q1. Accrued revenue Deferred revenue Sales entry
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