Haribhakti & Co Senior Consultant Interview Questions and Answers

Test is on basic accounting concepts

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
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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...read more
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Q1. Journal entries related to deferred revenue, accrual
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Q2. Journal entries related to recording of expenses and incomes
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Assignment is accounting related

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
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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
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Q3. Depreciation accounting
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Q1. Salary discussion
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Q1. Only one round with us people
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Taxation and accountancy question
medium level not easy

Q1. Deferred tax 3 question
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Q2. Bad debts and provisions casestudy based questions
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Q3. Ind AS fixed assets depreciation
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Q4. Finalization of BOA
Ans. 
Finalization of BOA involves reviewing and confirming all terms and conditions before signing the agreement.
• Review all terms and conditions outlined in the BOA document

• Ensure all parties involved agree to the terms before finalizing

• Sign the agreement once all terms are confirmed and agreed upon
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Q1. It involved questions related to US taxation
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