Gallagher & Mohan Financial Interview Questions and Answers

Accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions.

• Three rules in accounting are the accounting equation, double-entry accounting, and the matching principle.

• The accounting equation states that assets must equal liabilities plus equity.

• Double-entry accounting requires that every transaction have equal debits and ...read more

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I am looking for a long-term career opportunity with growth potential.

• I am seeking a stable and long-term position with opportunities for advancement.

• I am committed to contributing to the company's success and growing with the organization.

• I am looking for a role where I can continue to develop my skills and expertise over time.

The golden rules of accounts are basic principles that guide the recording of financial transactions.

• The golden rules include the principles of debit and credit.

• Debit the receiver, credit the giver.

• Debit what comes in, credit what goes out.

• Debit expenses and losses, credit income and gains.

• Debit assets and expenses, credit liabilities, equity, and income.

• Examples: Debiting cash when receiving payment, crediting account

Wipro is a leading global IT services company known for its innovative solutions and strong financial performance.

• Wipro has a strong track record of financial stability and growth

• Wipro is known for its innovative solutions in the IT services industry

• Wipro has a global presence and a diverse range of clients

• Wipro offers opportunities for career growth and development

Comparable company analysis involves comparing financial ratios and metrics of similar companies to evaluate performance.

• Comparable company analysis is a valuation method used to determine the value of a company by comparing it to similar companies in the same industry.

• It involves analyzing financial ratios such as price-to-earnings (P/E) ratio and beta to assess the relative valuation and risk of the company.

• Beta meas...read more

Accrued income and expenses are recognized but not yet received or paid, while deferred assets and liabilities are recognized but not yet earned or incurred.

• Accrued income and expenses are recognized in the financial statements but not yet received or paid.

• Deferred assets and liabilities are recognized in the financial statements but not yet earned or incurred.

• Journal entries for accrued income and expenses involve deb...read more

I have experience working as a financial analyst in the past.

• I have worked as a financial analyst for XYZ Company for 3 years.

• During my time at XYZ Company, I was responsible for financial planning, budgeting, and forecasting.

• I conducted financial analysis to identify trends, risks, and opportunities for improvement.

• I prepared financial reports and presentations for senior management.

• I also collaborated with cross-func...read more

Short term refers to a brief period of time, while long term refers to a more extended period.

• Short term goals are achievable within a few weeks or months, while long term goals may take years to accomplish.

• Short term decisions focus on immediate results, while long term decisions consider future consequences.

• Short term investments have a lower risk but also a lower return, while long term investments have a higher ris...read more