Grant Thornton GST Consultant Interview Questions and Answers

Q1. Provide SOP for Account Payables.
Ans. 
SOP for Account Payables involves verifying invoices, obtaining approvals, processing payments, and reconciling accounts.
• Verify invoices against purchase orders and receipts

• Obtain necessary approvals for payment

• Process payments accurately and timely

• Reconcile accounts to ensure accuracy

• Maintain proper documentation for audit purposes
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Q2. What is turnover discount?
Ans. 
Turnover discount is a reduction in price offered to customers who purchase a large quantity of goods or services.
• Turnover discount is commonly used in retail and wholesale industries to incentivize bulk purchases.

• The discount amount typically increases with the quantity purchased.

• For example, a supplier may offer a 10% turnover discount for customers who buy 100 units of a product.

• Turnover discount helps businesses in...read more
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Q1. What do know about fixed income securities
Ans. 
Fixed income securities are investments that pay a fixed interest or dividend income, such as bonds and certificates of deposit.
• Fixed income securities are debt instruments issued by governments, corporations, or other entities to raise capital.

• Investors receive regular interest payments until the maturity date, when the principal amount is repaid.

• Examples include Treasury bonds, corporate bonds, municipal bonds, and p...read more
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Q2. What is clean price and Dirty price
Ans. 
Clean price is the price of a bond excluding accrued interest, while dirty price includes accrued interest.
• Clean price is the price of a bond without the accrued interest, while dirty price includes the accrued interest.

• Clean price is also known as flat price, while dirty price is also known as full price.

• Clean price is used to calculate the yield of a bond, while dirty price is the actual price paid by the buyer.
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Q1. What do know about bonds matching process
Ans. 
Bonds matching process involves pairing bond issuers with investors based on their preferences and requirements.
• Bonds matching process helps bond issuers find suitable investors for their bonds

• Investors specify their preferences such as bond type, duration, yield, etc.

• The matching process uses algorithms to match bond issuers with investors based on their criteria

• This process helps streamline the bond issuance and inve
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Q2. Why do we hire you
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Q1. I had 4 rounds of interview
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Q2. General Accounting Standards
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Q1. They had asked in depth technical questions
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Q1. This was technical plus general round
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Q1. This was a friendly interview stage
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Q1. Tell me about yourself
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Q1. What are types of derivatives
Ans. 
Types of derivatives include options, futures, forwards, and swaps.
• Options: Contracts that give the holder the right, but not the obligation, to buy or sell an asset at a specified price before or on a specified date.

• Futures: Contracts that obligate the buyer to purchase an asset or the seller to sell an asset at a predetermined future date and price.

• Forwards: Similar to futures, but customized contracts traded over-th...read more
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Q2. What are types of insurance
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Types of insurance include health, life, auto, home, and disability insurance.
• Health insurance covers medical expenses

• Life insurance provides financial protection to beneficiaries in case of death

• Auto insurance covers damages and liabilities related to vehicles

• Home insurance protects against damages to the home and belongings

• Disability insurance provides income replacement in case of disability
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Excelant good to get such type intriv

Q1. Good and findly talk
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Q1. About company and work details which
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Q1. Tell me about yourself
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Q2. Why you want to work at BCG
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Q1. What is cash flow statement, budgeting, forecasting Examples of cash flow statements
Ans. 
Cash flow statement shows the inflow and outflow of cash, budgeting is planning for future expenses, forecasting is predicting financial outcomes.
• Cash flow statement shows the sources and uses of cash in a business

• Budgeting involves setting financial goals and creating a plan to achieve them

• Forecasting involves predicting future financial outcomes based on historical data

• Examples of cash flow statements include operati...read more
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Q1. Salary expectations
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Domain based test was conducted

Q1. Domain based test were conducted
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Q2. Domain based questions were asked
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