Interview Questions and Answers

Revaluation of assets is done to reflect their current market value and ensure accurate financial reporting.

• To reflect the true value of assets on the balance sheet

• To comply with accounting standards and regulations

• To provide stakeholders with accurate financial information

• To make informed decisions regarding asset management and investment

• To prevent overvaluation or undervaluation of assets

• Example: Revaluing real estate properties to reflect current market prices

Deferred tax is a balance sheet item that represents the tax consequences of temporary differences between accounting income and taxable income.

• Deferred tax is a liability or asset that arises from temporary differences between accounting income and taxable income.

• It is recorded on the balance sheet and represents taxes that will be paid or saved in the future.

• Example: If a company uses accelerated depreciation for tax purposes but straight-line depreciation for accounting pu...read more

Revaluation of assets is the process of adjusting the value of assets on a company's balance sheet to reflect their current market value.

• Revaluation is typically done for assets such as property, plant, and equipment.

• The purpose is to ensure that the assets are carried at a more accurate value on the balance sheet.

• Revaluation can result in an increase or decrease in the value of assets, which impacts the company's financial statements.

• It is important for companies to regularl...read more

IND AS leases require detailed explanation of impact on financial statements.

• IND AS leases refer to the Indian Accounting Standards related to lease accounting

• Elaborate explanation is needed to understand how leases affect financial statements

• Impact explanation involves analyzing lease liabilities, lease assets, and lease expenses

• Examples include recognizing lease liabilities and assets on balance sheet, and determining lease expenses in income statement

The channel refers to the marketing platform or medium used to reach target audiences.

• Channels can include social media, email marketing, advertising, events, and partnerships.

• Each channel has its own unique audience and reach.

• Effective channel selection is crucial for reaching marketing goals.

• Analyzing channel performance helps in optimizing marketing strategies.