Grant Thornton Bharat Trainee Interview Questions and Answers

Aptitude test duration 1 and half an hour

Q1. Why do you choose your career in accounting
Ans. 
I chose a career in accounting because of my strong analytical skills and passion for numbers.
• I have always been good with numbers and enjoy working with financial data

• I am detail-oriented and organized, which are important skills in accounting

• I believe accounting offers a stable and rewarding career path with opportunities for growth and advancement
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Q2. Why should we hire you
Ans. 
I am a dedicated and hardworking individual with a strong desire to learn and grow in this field.
• I have a strong work ethic and am willing to put in the effort to succeed

• I am eager to learn new skills and take on new challenges

• I am a team player and work well with others, contributing positively to the team dynamic
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Q1. What is brs and reasons
Ans. 
BRS stands for Bank Reconciliation Statement, which is a statement prepared to reconcile the balance as per the bank statement with the balance as per the company's books.
• BRS helps in identifying discrepancies between the bank statement and the company's records.

• It ensures that all transactions are accurately recorded and accounted for.

• Common reasons for differences in BRS include outstanding checks, deposits in transi...read more
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Q2. What is accruals
Ans. 
Accruals are expenses incurred but not yet paid or revenues earned but not yet received.
• Accruals are used to match expenses and revenues to the period in which they are incurred or earned.

• They are recorded as adjusting entries in the financial statements.

• Examples include accrued salaries, accrued interest, and accrued taxes.

• Accruals help provide a more accurate representation of a company's financial position.

• Accrual a
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Q3. Journal entries
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Q4. What do you know about bdo
Ans. 
BDO is a global accounting and advisory firm providing services in audit, tax, and consulting.
• BDO is one of the largest accounting firms in the world.

• They offer services in audit, tax, and advisory.

• BDO has offices in over 160 countries.

• The firm serves clients in various industries such as healthcare, technology, and financial services.
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Q5. Vlookup in excel
Ans. 
VLOOKUP is a function in Excel used to search for a value in a table and return a corresponding value from another column.
• VLOOKUP stands for 'Vertical Lookup'

• Syntax: =VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])

• Example: =VLOOKUP(A2, B2:D10, 3, FALSE) - searches for the value in cell A2 in the range B2:D10 and returns the value in the 3rd column

• The last parameter [range_lookup] can be TRUE (approxim
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Q6. Golden rules of accounting
Ans. 
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The three golden rules of accounting are: 1. Debit the receiver, Credit the giver 2. Debit what comes in, Credit what goes out 3. 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 cas...read more
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Q1. What is your salary Expectations?
Ans. 
I am looking for a competitive salary that reflects my skills and experience.
• Research industry standards for apprentice trainee salaries

• Consider cost of living in the area

• Factor in any additional benefits or perks offered by the company
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Q2. Would you know which role you are applying for in this company?
Ans. 
Yes, I am applying for the role of Apprenticeship Trainee in this company.
• I am aware that I am applying for the role of Apprenticeship Trainee.

• I have researched the responsibilities and requirements of the role.

• I am confident in my ability to excel in this position.
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Q1. IGAAP VS IND AS differences
Ans. 
IGAAP and IND AS are accounting standards used in India, with IND AS being converged with IFRS.
• IGAAP stands for Indian Generally Accepted Accounting Principles, while IND AS stands for Indian Accounting Standards.

• IGAAP is based on rules, while IND AS is based on principles.

• IND AS is converged with International Financial Reporting Standards (IFRS), while IGAAP is not fully converged.

• IND AS focuses on fair value account...read more
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Q1. Nav calculation, about resume, traning experience, meaning of hedge funds, Fund structure, basic accounting, reconciliation
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Q2. Found better results on goggle
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Objective type question paper consisting of questions from accounting, taxation & logical reasoning and mathematics followed by test on MS excel.

Q1. What are your salary expectations?
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Q2. What is your family background?
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Q3. Basic Test of your Technical Background
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Q4. Knowledge about hedge funds.
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Q5. Knowledge about company itself
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Q1. Why are you looking for a change?
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Q2. Tell me about yourself.
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