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I applied via Referral and was interviewed in Mar 2024. There were 3 interview rounds.
The current accounting policy in my company is the FIFO (First In, First Out) method.
FIFO method is used to value inventory by assuming that the first items purchased are the first items sold.
This method is commonly used in industries where products have a limited shelf life, such as food and beverage.
FIFO helps in ensuring that older inventory is sold first, reducing the risk of obsolescence.
It also provides a more ac...
26 AS is a consolidated tax statement that provides details of tax deducted at source, advance tax paid, and self-assessment tax paid.
26 AS is issued by the Income Tax Department to taxpayers.
It helps in verifying if the taxes deducted by the deductor have been deposited with the government.
Reconciliation of 26 AS is important to ensure accurate filing of income tax returns.
It also helps in identifying any discrepancie...
Advance tax working involves estimating and paying taxes in advance to avoid penalties.
Advance tax is paid in installments throughout the year based on estimated income.
It helps taxpayers avoid penalties for underpayment at the end of the year.
To ensure correctness, accurate income projections and tax calculations are essential.
Regular monitoring of income and tax liabilities is necessary to make adjustments if needed.
Challenges in finalizing the balance sheet include reconciling accounts, identifying errors, and ensuring accuracy.
Reconciling accounts to ensure all transactions are accurately recorded
Identifying and correcting errors in the financial statements
Ensuring accuracy in the balance sheet by verifying all figures and calculations
Dealing with complex transactions or unusual accounting entries
Coordinating with different depa
There are three types of GST in India - CGST, SGST, and IGST. There are multiple types of GST returns depending on the nature of the taxpayer.
Types of GST in India: CGST (Central Goods and Services Tax), SGST (State Goods and Services Tax), IGST (Integrated Goods and Services Tax)
Types of GST returns: GSTR-1 (Outward supplies), GSTR-3B (Summary return), GSTR-9 (Annual return)
Different types of GST returns for different...
OCI stands for Other Comprehensive Income. CAS-4 stands for Cost Accounting Standard 4.
OCI refers to items that are not included in net income but are instead shown in the equity section of the balance sheet.
CAS-4 is a standard that deals with the cost of production for captive consumption.
OCI can include items such as unrealized gains or losses on investments, foreign currency translation adjustments, and pension adju...
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I applied via Naukri.com and was interviewed before Jun 2021. There was 1 interview round.
I applied via Naukri.com and was interviewed before Sep 2021. There were 2 interview rounds.
I applied via Recruitment Consulltant and was interviewed before Apr 2022. There were 3 interview rounds.
I applied via Walk-in and was interviewed before Sep 2022. There were 3 interview rounds.
Act promptly and accurately on vendor details change requests to ensure accurate accounts payable processing.
Verify the authenticity of the request and the vendor details provided
Update the vendor details in the system accurately and promptly
Communicate the changes to relevant departments such as accounts payable and procurement
Ensure proper documentation of the change request and any approvals obtained
Monitor future t...
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 maintain the balance in the accounting equation: Assets = Liabilities + Equity.
For example, when a company receives cash f...
Validating invoices involves checking for accuracy and authenticity.
Verify that the invoice matches the purchase order and delivery receipt
Check for correct pricing, quantities, and calculations
Ensure that the invoice includes all necessary information such as vendor details and payment terms
Confirm that the invoice is approved by the appropriate personnel
Perform a three-way match between the purchase order, invoice, a...
I applied via Campus Placement and was interviewed before Jul 2021. There were 4 interview rounds.
Aptitude test on CS subjects like C programming, DBMS, CN, and OS.
There were 2 input-output based questions of easy to moderate level
Every candidate was given an individual topic and was asked to speak on it
I applied via Company Website and was interviewed before Dec 2020. There were 4 interview rounds.
I applied via Referral and was interviewed before Jan 2021. There was 1 interview round.
I applied via Campus Placement and was interviewed before Feb 2021. There were 3 interview rounds.
Aptitude round consists Logical reasoning, General Aptitude, Grammar related questions etc. All are moderate level questions.
OOPs is a programming paradigm that uses objects to represent real-world entities. Java is an OOPs language.
OOPs stands for Object-Oriented Programming System
Java is a class-based OOPs language
Encapsulation, Inheritance, Polymorphism, and Abstraction are the four pillars of OOPs
Objects have state and behavior
Java supports interfaces, which allow for multiple inheritance
Example: A car can be represented as an object wit...
Java solves machine dependency by using bytecode and virtual machine.
Java code is compiled into bytecode which is platform-independent
The bytecode is executed by the Java Virtual Machine (JVM) which is platform-specific
JVM translates bytecode into machine code for the specific platform
This allows Java code to run on any platform with a JVM installed
Example: A Java program compiled on Windows can run on Linux or Mac as
I applied via Company Website and was interviewed before Jul 2021. There were 3 interview rounds.
Aptitude, reasoning, English, cloud sections
2 questions in which , one has to complete within an 50 minutes
Some of the top questions asked at the Deepak Impex Assistant Manager F interview -
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Interview experience
TCS
Accenture
Wipro
Cognizant