Corient Business Solutions Senior Accountant Interview Questions and Answers for Experienced

Q1. Audit what is? in us
Ans. 
Audit is a systematic examination of financial records, transactions, and processes to ensure accuracy and compliance.
• Audit is a process of reviewing and verifying financial information to ensure accuracy and compliance with regulations.

• It involves examining financial statements, transactions, and internal controls.

• Audits can be conducted by internal or external auditors.

• The goal of an audit is to provide assurance to ...read more
Answered by AI
Add your answer
Q2. Risk in audit explain
Ans. 
Risk in audit refers to the possibility of errors or fraud going undetected, leading to inaccurate financial statements.
• Risk in audit can arise from errors in financial reporting, misstatements in financial statements, or fraudulent activities.

• Auditors must assess and address risks by conducting thorough risk assessments, implementing internal controls, and performing detailed audit procedures.

• Examples of risks in audi...read more
Answered by AI
Add your answer

Q1. Regarding Experience
Add your answer

Q1. They gave one case study and i answered thru mail
Add your answer

Q1. Regarding Salary and Job stability
Add your answer

Q1. Introduction,whole details about account, difference between payable and receivable in short all details about finance and accounting
Add your answer

Q1. Account payable
Add your answer

Knowledgeble aptitute test

Q1. What is current account
Ans. 
The current account is a component of a country's balance of payments that records the transactions of goods, services, income, and current transfers.
• It includes exports and imports of goods and services

• It also includes income from investments and transfers such as foreign aid

• The current account balance can be positive (surplus) or negative (deficit)

• A surplus indicates that a country is exporting more than it is import...read more
Answered by AI
Add your answer
Q2. What is preliminary expenses
Ans. 
Preliminary expenses are the costs incurred before a company starts its operations.
• Preliminary expenses are one-time costs that are necessary to set up a business.

• These expenses include legal fees, registration fees, market research costs, etc.

• Preliminary expenses are considered as intangible assets and are amortized over a period of time.

• They are recorded on the balance sheet under the 'Intangible Assets' section.

• Exam...read more
Answered by AI
Add your answer
Q3. Difference between revenue and capital expenditure
Ans. 
Revenue is income generated from the core operations of a business, while capital expenditure is the investment in long-term assets.
• Revenue is the money earned by a company through its primary activities, such as sales of goods or services.

• Capital expenditure refers to the funds spent on acquiring or improving long-term assets, such as property, equipment, or technology.

• Revenue is typically recurring and contributes to...read more
Answered by AI
Add your answer

Q1. What is P2P cycle
Ans. 
P2P cycle stands for Procure-to-Pay cycle, which is the process of obtaining and paying for goods and services.
• P2P cycle involves requisitioning, purchasing, receiving, and paying for goods or services.

• It starts with a purchase requisition, followed by purchase order creation, goods receipt, invoice verification, and ends with payment to the vendor.

• The cycle ensures that goods or services are ordered, received, and pai...read more
Answered by AI
Add your answer