Hero Corporate Services Assistant Manager Interview Questions and Answers

Q1. Audit procedure of payroll expenses
Ans. 
Audit procedure of payroll expenses involves reviewing payroll records, verifying accuracy, checking for compliance with laws and regulations.
• Review payroll records for accuracy and completeness

• Verify payroll expenses against approved budgets and contracts

• Check for compliance with labor laws and regulations

• Confirm that payroll taxes are calculated correctly

• Compare payroll expenses to previous periods for consistency

• Per...read more
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Q2. Audit procedure of revenue
Ans. 
Audit procedure of revenue involves verifying the accuracy and completeness of revenue transactions.
• Reviewing sales contracts and agreements

• Testing the accuracy of revenue recognition

• Confirming revenue with customers

• Analyzing revenue trends and anomalies

• Checking for proper documentation and authorization

• Performing cutoff tests to ensure revenue is recorded in the correct period
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Q1. Audit procedure payroll
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Q1. Ind As 115 - Multiple performance obligation
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Q2. Ind AS 116 - Recognition criteria
Ans. 
Ind AS 116 sets out the principles for the recognition of leases by lessees and lessors.
• Leases are recognized as assets and liabilities on the balance sheet

• The lease term is the non-cancellable period for which the lessee has the right to use the underlying asset

• The lease payments are apportioned between interest expense and reduction of the lease liability

• Initial direct costs incurred by the lessee are added to the am...read more
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Q1. No comments it depends on the domain that you will be wory for
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Q2. I cannot comment as it depends on the domain
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Subject related questions

Based on General topic

Q1. Question based on resume and general questions
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Q2. How efficient in tally
Ans. 
I am highly efficient in using Tally for accounting purposes.
• Proficient in data entry and reconciliation in Tally software

• Able to generate financial reports and analyze data accurately

• Experience in setting up and customizing Tally accounts for specific business needs
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Q3. Questions related to company
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Q1. Are you willing to relocate?
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Q2. What is your area of interest?
Ans. 
My area of interest is in strategic planning and project management.
• I have a strong passion for developing and implementing strategic plans to achieve organizational goals.

• I excel in project management, ensuring tasks are completed on time and within budget.

• I enjoy analyzing data and making informed decisions to drive business success.
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Q1. Revenue recognition as per Ind AS 115
Ans. 
Ind AS 115 outlines the principles for recognizing revenue from contracts with customers.
• Revenue is recognized when control of goods or services is transferred to the customer

• Revenue is recognized at an amount that reflects the consideration the entity expects to receive in exchange for those goods or services

• Revenue recognition may be over time or at a point in time, depending on the terms of the contract

• Ind AS 115 re...read more
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Q2. Assertions of financial statements
Ans. 
Assertions of financial statements ensure accuracy and reliability of financial information.
• Assertions include completeness, accuracy, valuation, rights and obligations, and presentation and disclosure.

• Completeness ensures all transactions and balances are recorded.

• Accuracy ensures transactions are recorded at the correct amounts.

• Valuation ensures assets and liabilities are recorded at their appropriate values.

• Rights a...read more
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Q1. Why you choose CA?
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Q2. Are you willing to relocate?
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Group discussion on some random topic

Q1. Salary expectation details
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Q1. Basic details of payroll nd PF understanding
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Q2. Self introduction
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About technical and department related