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

English test, Accounting Test, Excel test- overall around 1 hour test

Q1. What is accrual, what is provision for depreciation, what is Bad debts, Journal entries,
Ans. 
Accrual is recognizing revenue and expenses when they are incurred, provision for depreciation is setting aside funds for asset depreciation, bad debts are uncollectible debts, journal entries record financial transactions.
• Accrual is the accounting method of recognizing revenue and expenses when they are incurred, regardless of when cash is exchanged.

• Provision for depreciation is the allocation of funds to account for ...read more
Answered by AI
Add your answer
Q2. Billed revenue, unbilled revenue
Add your answer
Q3. Salary entry, what is revenue, revenue recog principles
Add your answer

Q1. Deferred revenue expenditure, p2p process, o2c process, depreciation and amortization
Add your answer

There were 3 tests at the start. One is regarding English communication. Second is regarding logical reasoning and third is accounting related

Q1. Journal entry for deferred revenue and for unbilled revenue
Ans. 
Journal entries for deferred revenue and unbilled revenue
• Deferred revenue journal entry: Debit Cash/Accounts Receivable, Credit Deferred Revenue

• Unbilled revenue journal entry: Debit Unbilled Revenue, Credit Revenue

• Example: Deferred revenue journal entry - Debit Accounts Receivable $1,000, Credit Deferred Revenue $1,000

• Example: Unbilled revenue journal entry - Debit Unbilled Revenue $500, Credit Revenue $500
Answered by AI
Add your answer
Q2. Difference between realised and unrealised forex gain/ loss
Ans. 
Realised forex gain/loss is when the exchange rate changes and the transaction is completed, while unrealised forex gain/loss is when the exchange rate changes but the transaction is not completed.
• Realised forex gain/loss is recorded when an actual transaction occurs and the exchange rate has changed since the initial transaction.

• Unrealised forex gain/loss is recorded when the exchange rate changes but the transaction ...read more
Answered by AI
Add your answer
Q3. Consolidation entries
Add your answer

There were 2 case studies about which we are supposed to write an email.

Q1. Cases to solve on excel
Add your answer

Q1. What adjustments we do in consolidation
Ans. 
Adjustments in consolidation involve eliminating intercompany transactions, adjusting for differences in accounting policies, and recognizing goodwill.
• Eliminating intercompany transactions to avoid double counting

• Adjusting for differences in accounting policies to ensure consistency

• Recognizing goodwill to account for the premium paid in acquisitions
Answered by AI
Add your answer
Q2. Revenue recognition
Add your answer

Online test was simple and easy

Q1. Fixed assets and depreciation accounting
Add your answer
Q2. Deferred revenue and entries to be posted in books
Ans. 
Deferred revenue is revenue received in advance but not yet earned. Entries include debit to cash or accounts receivable and credit to deferred revenue.
• Deferred revenue represents money received for goods or services that have not yet been provided.

• Entries for deferred revenue typically involve debiting cash or accounts receivable and crediting deferred revenue.

• As the revenue is earned, the deferred revenue is reduced ...read more
Answered by AI
Add your answer

Q1. -----Please do not waste your time---- At last they will ask you provide original documents which is illegal in India, and also they will take money from your salary if you leave before 2 years Try somew...read more
Add your answer