Gallagher & Mohan Interview Questions, Process, and Tips

Technical Questions from Accounting domain.

Q1. Introduce yourself?
Ans. 
Experienced Senior Accountant with a strong background in financial analysis and reporting.
• Over 8 years of experience in accounting and finance

• Expertise in financial analysis, budgeting, and forecasting

• Strong knowledge of GAAP and financial regulations

• Managed a team of accountants to ensure accurate financial reporting
Answered by AI
Add your answer
Q2. Provisions and Accrual Concept in Accounting ?
Ans. 
Provisions and accruals are accounting concepts used to recognize expenses and liabilities in the appropriate accounting period.
• Provisions are recognized liabilities based on estimates of future obligations, such as warranties or legal claims.

• Accruals are expenses incurred but not yet paid, such as salaries or utilities.

• Both provisions and accruals ensure that expenses are matched with revenues in the correct accountin...read more
Answered by AI
Add your answer
Q3. Contingent Liabilities and their Accounting treatment?
Ans. 
Contingent liabilities are potential liabilities that may arise in the future based on certain events. They are disclosed in the financial statements.
• Contingent liabilities are not recognized in the financial statements but are disclosed in the notes to the financial statements.

• They are potential obligations that depend on the outcome of future events, such as lawsuits, warranties, or guarantees.

• If the likelihood of th...read more
Answered by AI
Add your answer

Q1. Tell me about yourself?
Ans. 
Experienced Senior Accountant with a strong background in financial analysis and reporting.
• Over 8 years of experience in accounting and finance

• Proficient in financial analysis, budgeting, and forecasting

• Strong knowledge of GAAP and financial regulations

• Managed a team of accountants to ensure accurate and timely financial reporting

• Implemented cost-saving measures that resulted in significant savings for the company
Answered by AI
Add your answer
Q2. Purchases with discount entry ?
Ans. 
Purchases with discount entry involves recording the purchase of goods or services at a reduced price.
• Record the full purchase amount as a debit to the Purchases account

• Record the discount amount as a credit to the Discounts account

• Calculate the net amount by subtracting the discount from the full purchase amount

• Record the net amount as a credit to the Accounts Payable account
Answered by AI
Add your answer
Q3. Prepaid and Accrual concept with entries for a particular transaction given by interviewer
Add your answer
Q4. CV related questions
Add your answer
Q5. Expected salary & notice period
Add your answer
Q6. Are you ok with Shift timings ?
Ans. 
Yes, I am flexible with shift timings and can adjust as needed.
• I am open to working different shifts to accommodate business needs

• I have experience working in roles with varying shift schedules

• I understand the importance of meeting deadlines and can adjust my schedule accordingly
Answered by AI
Add your answer

Q1. Questions about few journal entries
Add your answer

How can it be possible that 6-7 people are required in an interview, with some individuals asking questions and then leaving, while others join in the middle of the interview, resulting in a continuous cycle of people asking questions, leaving, and re-joining? The entire interview process felt more like a circus than a structured interview.

Q1. What are the basic concepts of accounting?
Add your answer

First round was MCQ test.

Q1. Tell me about yourself
Ans. 
Experienced accountant with a strong attention to detail and a passion for numbers.
• Graduated with a degree in Accounting from XYZ University

• Worked as a junior accountant at ABC Company for 2 years

• Proficient in using accounting software such as QuickBooks and Excel

• Managed financial reports and budgets for multiple clients

• Strong analytical skills and ability to problem solve efficiently
Answered by AI
Add your answer
Q2. What is golden rules for accounting
Ans. 
The golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The golden rules include: 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 ensure accuracy and consistency in financial reporting.

• For example, when a company receives cash from a customer, the transaction would ...read more
Answered by AI
Add your answer
Q3. What is accrual accounting
Ans. 
Accrual accounting is a method of accounting that records revenues and expenses when they are earned or incurred, regardless of when cash is exchanged.
• Revenue is recorded when it is earned, not necessarily when cash is received

• Expenses are recorded when they are incurred, not necessarily when they are paid

• Accrual accounting provides a more accurate representation of a company's financial position and performance over t
Answered by AI
Add your answer

Q1. What is WACC and how is it used in Real Estate?
Ans. 
WACC stands for Weighted Average Cost of Capital and is used to determine the minimum return a company must earn on their investments to satisfy their shareholders and debt holders.
• WACC is calculated by taking the weighted average of the cost of equity and the cost of debt, with each component weighted by its respective proportion in the company's capital structure.

• In Real Estate, WACC is used to evaluate the feasibili...read more
Answered by AI
Add your answer
Q2. A word problem where you had to calculate IRR
Ans. 
Calculating IRR for a word problem
• Identify the initial investment and cash flows over time

• Use a financial calculator or Excel to calculate the IRR

• IRR is the discount rate that makes the net present value of all cash flows equal to zero
Answered by AI
Add your answer

I was given a set of assumptions on the basis of which I had to create a DCF model on real estate. It included topics like NNN lease, and I had to find the IRR of the project, the projected profit, Equity multiple and earnings.

Q1. How do you calculate Cash on cash returns?
Ans. 
Cash on cash returns are calculated by dividing the annual pre-tax cash flow by the initial investment.
• Calculate the annual pre-tax cash flow from the investment property.

• Divide the annual pre-tax cash flow by the initial investment amount.

• Express the result as a percentage to get the cash on cash return.

• Formula: Cash on Cash Return = (Annual Pre-tax Cash Flow / Initial Investment) * 100%
Answered by AI
Add your answer
Q2. Would you prefer a lower or a higher cap rate and why
Ans. 
I would prefer a lower cap rate as it indicates higher potential returns on investment.
• Lower cap rate implies higher potential returns on investment

• Higher cap rate may indicate higher risk or lower potential returns

• Investors typically prefer lower cap rates for safer investments

• Example: A cap rate of 5% may be preferred over a cap rate of 10%
Answered by AI
Add your answer

Q1. HR asked me to give an introduction
Add your answer

Q1. General questions related to my resume and job role.
Add your answer

Gave me 3 case studies related to organisational difficulties faced during a remote work.

Basic real estate related questions

Q1. What is cap rate
Ans. 
Cap rate, or capitalization rate, is a measure used to evaluate the potential return on investment for a real estate property.
• Cap rate is calculated by dividing the property's net operating income (NOI) by its current market value.

• It is expressed as a percentage and is used by investors to compare different investment opportunities.

• A higher cap rate indicates a higher potential return, but may also come with higher ris...read more
Answered by AI
Add your answer
Q2. What is unlevered & levered irr
Ans. 
Unlevered IRR is the internal rate of return without considering debt, while levered IRR includes the impact of debt.
• Unlevered IRR is the return on an investment without taking into account the effects of debt financing.

• Levered IRR is the return on an investment that includes the impact of debt financing.

• Unlevered IRR is used to evaluate the return on an investment solely based on its own merits, while levered IRR cons...read more
Answered by AI
Add your answer