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Haribhakti & Co Audit Associate Interview Questions and Answers

Updated 23 Aug 2024

Haribhakti & Co Audit Associate Interview Experiences

1 interview found

Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Walk-in and was interviewed in Jul 2024. There was 1 interview round.

Round 1 - One-on-one 

(5 Questions)

  • Q1. Tell me about yourself?
  • Ans. 

    I am a detail-oriented and analytical individual with a strong background in accounting and auditing.

    • Graduated with a degree in Accounting

    • Completed internships at accounting firms

    • Strong understanding of auditing principles

    • Proficient in financial analysis and reporting

  • Answered by AI
  • Q2. Ind As related questions and entire CV based questions
  • Q3. WHAT IS MATERIALITY?
  • Ans. 

    Materiality is the concept of determining the significance or importance of an item or event in relation to the financial statements.

    • Materiality helps auditors decide what information to focus on during an audit

    • It is based on the size, nature, and circumstances of an item or event

    • Materiality is subjective and can vary depending on the context

    • Examples include large dollar amounts, significant errors, and key transaction

  • Answered by AI
  • Q4. HOW TO CALCULATE MATERIALITY?
  • Ans. 

    Materiality is calculated based on factors like size, nature, and risk of the financial statements.

    • Determine the base amount for materiality (e.g. total assets, total revenue)

    • Apply a percentage to the base amount to calculate materiality threshold (e.g. 5% of total assets)

    • Consider qualitative factors like the nature of the entity, industry regulations, and potential impact on users of the financial statements

    • Adjust mat...

  • Answered by AI
  • Q5. HOW TO DO AUDIT OF COMPANY?
  • Ans. 

    Audit of a company involves examining financial records, internal controls, and compliance with regulations.

    • Understand the company's business operations and industry standards

    • Review financial statements and supporting documents

    • Assess internal controls and identify any weaknesses

    • Test transactions for accuracy and completeness

    • Ensure compliance with laws and regulations

    • Prepare audit reports with findings and recommendatio

  • Answered by AI

Interview Preparation Tips

Topics to prepare for Haribhakti & Co Audit Associate interview:
  • IND AS
  • STANDARDS ON AUDITING
Interview preparation tips for other job seekers - Revise your CV and be prepared for deep questions from your work profile

Interview questions from similar companies

I applied via Naukri.com and was interviewed in Mar 2021. There were 5 interview rounds.

Interview Questionnaire 

1 Question

  • Q1. There were three rounds. First was HR, then Ops and lastly Salary discussion. Ops round was basically technical round where you will be interviewed on your technical knowledge.

Interview Preparation Tips

Interview preparation tips for other job seekers - Prepare well on your technical knowledge.

I applied via Naukri.com and was interviewed in Dec 2021. There were 3 interview rounds.

Round 1 - Assignment 

Test is on basic accounting concepts

Round 2 - Technical 

(1 Question)

  • Q1. We will have a second round with their senior employee, in this round they will check our knowledge and understanding of core accounting concepts
Round 3 - One-on-one 

(1 Question)

  • Q1. This is one of my toughest interview round i had in my career, I felt very happy, the way they they did interview, in this round they will check your core accounting knowledge at expert level and few behav...

Interview Preparation Tips

Topics to prepare for AccSource KPO Senior Associate interview:
  • General Accounting
Interview preparation tips for other job seekers - Be strong on Basic accounting concepts,
It took 1 month for me for whole interview process, so be patient, it will depend upon their availability
Interview experience
5
Excellent
Difficulty level
-
Process Duration
-
Result
-
Round 1 - Technical 

(1 Question)

  • Q1. Salaries related enteries
Interview experience
1
Bad
Difficulty level
-
Process Duration
-
Result
-
Round 1 - Aptitude Test 

Easy. It was related to finance and other professional areas.

Interview Preparation Tips

Interview preparation tips for other job seekers - They call you for a position but then change it when you reach there and offer salary which is too low and try to portray themselves as some prestigious company that you should be dying to work in
Interview experience
4
Good
Difficulty level
Moderate
Process Duration
2-4 weeks
Result
Selected Selected

I applied via Naukri.com and was interviewed in May 2024. There were 2 interview rounds.

Round 1 - HR 

(6 Questions)

  • Q1. Tell me about yourself
  • Q2. Why this role attracts you
  • Q3. What are your hobbies
  • Q4. What are your goals
  • Q5. What is your educational background
  • Ans. 

    I have a Bachelor's degree in Accounting and Finance from XYZ University.

    • Bachelor's degree in Accounting and Finance

    • Graduated from XYZ University

    • Completed relevant coursework in auditing

  • Answered by AI
  • Q6. What was your previous role
  • Ans. 

    I was a Financial Analyst at a Fortune 500 company

    • Prepared financial reports and analysis for management

    • Assisted in budgeting and forecasting processes

    • Conducted variance analysis to identify trends and areas for improvement

  • Answered by AI
Round 2 - Technical 

(6 Questions)

  • Q1. What is Auditing
  • Ans. 

    Auditing is the process of examining and evaluating financial information to ensure accuracy and compliance with regulations.

    • Auditing involves reviewing financial statements, transactions, and internal controls.

    • Auditors assess the risk of material misstatement in financial reporting.

    • They gather evidence to support their findings and issue an opinion on the financial statements.

    • Auditing helps stakeholders make informed ...

  • Answered by AI
  • Q2. What is the formula of VLOOKUP
  • Ans. 

    VLOOKUP is a function in Excel used to search for a value in a table and return a corresponding value.

    • VLOOKUP stands for 'Vertical Lookup'

    • The formula syntax is =VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])

    • Example: =VLOOKUP(A2, B2:D10, 3, FALSE) - this will search for the value in cell A2 in the range B2:D10 and return the value in the 3rd column

    • The range_lookup parameter can be either TRUE (approxi

  • Answered by AI
  • Q3. Name the three accounting standards
  • Ans. 

    The three accounting standards are GAAP, IFRS, and GASB.

    • GAAP (Generally Accepted Accounting Principles) is used in the United States

    • IFRS (International Financial Reporting Standards) is used globally in many countries

    • GASB (Governmental Accounting Standards Board) is used for government entities

  • Answered by AI
  • Q4. What is inventory management
  • Ans. 

    Inventory management involves overseeing the flow of goods from manufacturers to warehouses to retailers, ensuring optimal levels are maintained.

    • Inventory management involves tracking and controlling the flow of goods from suppliers to warehouses to customers.

    • It includes forecasting demand, setting reorder points, and managing stock levels to prevent stockouts or overstocking.

    • Efficient inventory management can help red...

  • Answered by AI
  • Q5. What is store ledger
  • Ans. 

    Store ledger is a record of all transactions related to inventory in a store.

    • Store ledger tracks the movement of goods in and out of the store.

    • It helps in maintaining accurate inventory levels and preventing stockouts.

    • The ledger includes details such as item description, quantity, date of transaction, and cost.

    • Regularly updating the store ledger is essential for effective inventory management.

    • Example: A store ledger ma...

  • Answered by AI
  • Q6. Do you have any questions for us

Interview Preparation Tips

Interview preparation tips for other job seekers - Be courageous, don't be afraid of anything and make sure be prepared.
Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Approached by Company and was interviewed before Sep 2023. There was 1 interview round.

Round 1 - Technical 

(2 Questions)

  • Q1. Journal entries related to deferred revenue, accrual
  • Q2. Journal entries related to recording of expenses and incomes

Interview Preparation Tips

Interview preparation tips for other job seekers - Need good communication skills
Interview experience
4
Good
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Referral and was interviewed before Nov 2023. There were 3 interview rounds.

Round 1 - Assignment 

Assignment is accounting related

Round 2 - Technical 

(3 Questions)

  • Q1. Concept of deffered accounting
  • Ans. 

    Deferred accounting refers to recognizing revenue or expenses at a later date than when they are actually incurred.

    • Deferred accounting is used to match revenue and expenses with the period in which they are actually earned or incurred.

    • Common examples include prepaid expenses and unearned revenue.

    • Deferred tax liabilities and assets are also examples of deferred accounting.

    • It helps in accurately reflecting the financial

  • Answered by AI
  • Q2. Journal entries for amortization
  • Ans. 

    Journal entries for amortization involve recording the gradual reduction in value of intangible assets over time.

    • Amortization is the process of allocating the cost of intangible assets over their useful life.

    • Debit the Amortization Expense account and credit the Accumulated Amortization account.

    • Journal entry example: Debit Amortization Expense $1,000, Credit Accumulated Amortization $1,000.

    • Amortization does not apply to

  • Answered by AI
  • Q3. Depreciation accounting
Round 3 - HR 

(1 Question)

  • Q1. Salary discussion

Interview Preparation Tips

Topics to prepare for Escalon Business Services Senior Associate interview:
  • Accounting
Interview preparation tips for other job seekers - Please prepare for basic accounts concepts

I applied via Naukri.com and was interviewed in Feb 2021. There was 1 interview round.

Interview Questionnaire 

1 Question

  • Q1. Accouting concepts Accural Accouting, Depreciation, B/Sheet, P&Loss
Interview experience
3
Average
Difficulty level
Moderate
Process Duration
4-6 weeks
Result
Selected Selected

I applied via Referral and was interviewed before Feb 2023. There was 1 interview round.

Round 1 - HR 

(1 Question)

  • Q1. Introduce yourself

Interview Preparation Tips

Interview preparation tips for other job seekers - Speak confidently

Haribhakti & Co Interview FAQs

How many rounds are there in Haribhakti & Co Audit Associate interview?
Haribhakti & Co interview process usually has 1 rounds. The most common rounds in the Haribhakti & Co interview process are One-on-one Round.
What are the top questions asked in Haribhakti & Co Audit Associate interview?

Some of the top questions asked at the Haribhakti & Co Audit Associate interview -

  1. HOW TO DO AUDIT OF COMPA...read more
  2. HOW TO CALCULATE MATERIALI...read more
  3. WHAT IS MATERIALI...read more

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Haribhakti & Co Audit Associate Interview Process

based on 1 interview

Interview experience

5
  
Excellent
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Haribhakti & Co Audit Associate Salary
based on 5 salaries
₹6.5 L/yr - ₹9.5 L/yr
18% more than the average Audit Associate Salary in India
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Haribhakti & Co Audit Associate Reviews and Ratings

based on 4 reviews

1.7/5

Rating in categories

3.0

Skill development

3.0

Work-life balance

1.0

Salary

1.6

Job security

1.6

Company culture

1.0

Promotions

1.4

Work satisfaction

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