GVPR Engineers Accounts & Finance Manager Interview Questions and Answers

Accounts un-related topics discussed to show their knowledge in export. Which i not required for me were i was engaged

Nothing to say worst

Q1. Salary expected
Ans. 
Negotiable based on the responsibilities and benefits offered by the company.
• Salary expectations are flexible and dependent on the specific responsibilities and benefits provided by the company.

• Open to discussing salary range during the interview process.

• Seeking a competitive salary that aligns with industry standards and my level of experience.

• Looking for a compensation package that includes benefits such as healthcar...read more
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Q2. Transfer to other state
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Q1. What's is the difference between finance and accounts
Ans. 
Finance deals with managing money and investments while accounts deal with recording financial transactions.
• Finance involves analyzing financial data, creating financial plans, and making investment decisions.

• Accounts involve recording financial transactions, preparing financial statements, and maintaining financial records.

• Finance is more strategic and forward-looking while accounts are more focused on historical data...read more
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Q2. How do you control the debtors outstanding for longer period
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Controlling debtors outstanding involves setting credit policies, monitoring payment schedules, and following up on overdue accounts.
• Establish clear credit policies and payment terms

• Monitor payment schedules and follow up on overdue accounts

• Offer incentives for early payments and penalties for late payments

• Maintain good relationships with customers to encourage timely payments

• Consider outsourcing debt collection to a t
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Q3. How do you value inventory
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Inventory is valued using the cost method, which involves determining the cost of each item and multiplying it by the number of items in stock.
• Cost method involves determining the cost of each item

• Multiply the cost by the number of items in stock

• Other methods include LIFO, FIFO, and weighted average

• Valuation should be done consistently and accurately
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Q1. What is your learning from present assignment
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Q1. 1. Journal entry of sales 2. Recent amendments in taxation
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Journal entry of sales and recent amendments in taxation
• Journal entry of sales involves debiting the cash or accounts receivable account and crediting the sales account

• Recent amendments in taxation include changes in tax rates, tax laws, and tax policies

• For example, the recent amendment in the US tax law is the Tax Cuts and Jobs Act of 2017
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Q2. 3.Basic journal entries 4. Cost audit requirements
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