IB Group Branch Accountant Interview Questions and Answers

Q1. About You are slef
Add your answer
Q2. Accounts Types and Accounts defination
Ans. 
Accounts types refer to the classification of accounts based on their nature and purpose. Accounts definition is the explanation of what an account represents in financial transactions.
• Accounts Types: Assets, Liabilities, Equity, Revenue, Expenses

• Accounts Definition: An account is a record of financial transactions related to a particular item or category

• Examples: Cash (Asset), Accounts Payable (Liability), Retained Ea
Answered by AI
Add your answer

Apptitude was about basic accounting questions and tax related

Q1. It was about company and accounting questions
Add your answer

Q1. Define meaning of finance
Ans. 
Finance refers to the management of money and investments.
• Finance involves the allocation, acquisition, and utilization of funds.

• It includes activities such as budgeting, financial planning, and investment analysis.

• Finance helps individuals and organizations make informed decisions about money.

• Examples of finance include managing personal savings, analyzing company financial statements, and evaluating investment opport
Answered by AI
View 1 more answer
Q2. What dose working capital means
Ans. 
Working capital refers to the funds available for a company's day-to-day operations and is calculated by subtracting current liabilities from current assets.
• Working capital is a measure of a company's liquidity and ability to meet short-term obligations.

• It represents the difference between a company's current assets (such as cash, inventory, accounts receivable) and its current liabilities (such as accounts payable, sh...read more
Answered by AI
View 1 more answer
Q3. Explain a cash flow statement
Ans. 
A cash flow statement is a financial statement that shows the inflows and outflows of cash in a company over a specific period of time.
• It provides information about the cash generated from operating activities, investing activities, and financing activities.

• Operating activities include cash received from sales, payment to suppliers, and payment to employees.

• Investing activities include cash used for purchasing or selli...read more
Answered by AI
View 1 more answer
Q4. What is an fare value
Ans. 
Fair value is the estimated price at which an asset or liability would be exchanged between knowledgeable and willing parties in an arm's length transaction.
• Fair value is used in accounting to determine the value of assets and liabilities on a company's balance sheet.

• It is based on market prices or other objective measures of value.

• Fair value is important for financial reporting and decision-making.

• Examples of assets t...read more
Answered by AI
Add your answer
Q5. Fair value refers to the estimate of the potential market price of an asset, goods or services. The fair value of an asset is the amount at which you can buy or sell the asset in a current transaction betw...read more
Add your answer
Q6. What do you mean by Secondary market
Ans. 
Secondary market refers to the buying and selling of securities that have already been issued.
• It is also known as aftermarket

• Investors buy and sell securities among themselves without the involvement of the issuing company

• Examples include stock exchanges, bond markets, and futures markets
Answered by AI
View 1 more answer
Q7. Secondary market is were people trade securities that have been offered to the public in the primary market before hand and are listed on the stock exchange. The secondary market is also known as the after...read more
Add your answer
Q8. Explain about deferred Tax liability
Ans. 
Deferred tax liability is a tax obligation that a company will have to pay in the future due to temporary differences between accounting and tax rules.
• It arises when there is a difference between the tax base of an asset or liability and its carrying amount in the financial statements

• It is calculated by multiplying the temporary difference by the applicable tax rate

• It is a non-current liability that is expected to be s...read more
Answered by AI
Add your answer
Q9. Deferred Tax liability is the amount the company hasn't paid yet to the tax department but is expecting to pay it in future. It happens when company tax expenses are lesser than the amount they reflect in ...read more
Add your answer

Q1. Self introduction
Add your answer

Q1. Golden rules in accounts
Ans. 
Golden rules in accounts are basic principles that guide the recording of financial transactions.
• The three golden rules in accounts are: Debit what comes in, Credit what goes out, Debit the receiver, Credit the giver, Debit expenses and losses, Credit income and gains.

• For example, when cash is received, it is debited because it is an inflow of cash. When cash is paid out, it is credited because it is an outflow of cash...read more
Answered by AI
Add your answer
Q2. Balnce sheet and petty cash lefgers
Add your answer