Grant Thornton Bharat Consultant Interview Questions, Process, and Tips

India as a cash economy

Accounts questions were asked

Q1. Tell me about yourself
Ans. 
Experienced consultant with a background in business strategy and project management.
• Over 5 years of experience in consulting roles

• Specialize in developing and implementing business strategies

• Skilled in project management and client relationship management

• Previously worked with Fortune 500 companies on strategic initiatives
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Q2. Questions on every term, education internship written in resume
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Q3. Three interviews were conducted, 2 were HR questions +technical and third was interviewed by Partner
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Q1. How would you consider stretched payables in net debt analysis?
Ans. 
Stretched payables should be included in net debt analysis as they represent a liability that impacts the company's financial health.
• Stretched payables are essentially trade payables that have been extended beyond the usual payment terms agreed upon with suppliers.

• Including stretched payables in net debt analysis provides a more accurate picture of the company's financial obligations.

• Failure to account for stretched pa...read more
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Lean Six Sigma case study

Q1. Tell us about any of your project.
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Q2. Scenario based questions
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Q3. Scenario based questions on hypothesis tests
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Q4. Scenario based questions on data gr&r
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Q5. Scenario based questions on control charts
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Q1. 1. Introduce Yourself 2. CV related questions 3. ISD (GST) 4. GTA (GST) 5. Recent amendments, E-Invoice, Lottery
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Q2. How you keep yourself updated with changes.
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Q1. Tell me about Yourself
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Q2. What are financial statement
Ans. 
Financial statements are reports that show the financial performance and position of a company.
• Financial statements include the balance sheet, income statement, and cash flow statement.

• They provide information on a company's revenue, expenses, assets, liabilities, and equity.

• Investors and creditors use financial statements to evaluate a company's financial health and make decisions.

• Examples of financial statements incl...read more
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Q3. Schedule 3 of companies act
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Schedule 3 of Companies Act is a list of disclosures that companies must make in their financial statements.
• Schedule 3 outlines the minimum disclosures required for companies to comply with the Companies Act.

• It includes information on fixed assets, investments, inventory, debtors, creditors, and more.

• Companies must ensure that their financial statements include all the necessary disclosures as per Schedule 3.

• Failure to...read more
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Q4. Golden rule of accounting
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The golden rule of accounting is to maintain a balance between assets, liabilities, and equity.
• Assets = Liabilities + Equity

• This equation must always be balanced in order to ensure accurate financial statements

• Any changes to one side of the equation must be reflected on the other side

• For example, if a company takes out a loan (liability), their assets will increase by the amount of the loan, but their equity will decre
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Q5. GST Journal entry with credit purchase
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GST journal entry for credit purchase
• Debit the purchase account

• Credit the GST input account

• Credit the supplier account
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Q6. What is internal audit
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Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.
• Internal audit evaluates the effectiveness of an organization's risk management, control, and governance processes

• It provides recommendations for improvement and helps the organization achieve its objectives

• Examples of internal audit activities include financial audits, operationa
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Q7. Who are the person who can do Internal audit
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Internal audit can be done by individuals who possess relevant skills and knowledge.
• Individuals with accounting or finance background

• Certified Internal Auditors (CIAs)

• Individuals with experience in risk management and compliance

• Professionals with knowledge of industry-specific regulations and standards

• Individuals with strong analytical and communication skills

• Examples: Accountants, Auditors, Risk Managers, Compliance O
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Q8. Salary Expectation, what would you prefer
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Q1. Self Introduction and walk through resume
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Q1. Basic accounting and reconciliation
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