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IBS Software Services Finance Executive Interview Questions, Process, and Tips

Updated 14 Jun 2024

Top IBS Software Services Finance Executive Interview Questions and Answers

View all 9 questions

IBS Software Services Finance Executive Interview Experiences

3 interviews found

I applied via Approached by Company and was interviewed in Aug 2023. There were 2 interview rounds.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Keep your resume crisp and to the point. A recruiter looks at your resume for an average of 6 seconds, make sure to leave the best impression.
View all tips
Round 2 - One-on-one 

(9 Questions)

  • Q1. Heads of income
  • Q2. Tds on professional payment
  • Ans. 

    TDS on professional payments is a tax deducted at source on payments made to professionals for their services.

    • TDS rate on professional payments is usually 10%.

    • It is applicable when the payment exceeds a certain threshold amount.

    • The person making the payment is responsible for deducting TDS and depositing it with the government.

    • Failure to deduct TDS can lead to penalties and legal consequences.

  • Answered by AI
  • Q3. Tds on purchase of land from an individual for ₹10000000
  • Ans. 

    TDS on purchase of land from an individual for ₹10000000 is applicable.

    • TDS rate on purchase of land from an individual is 1% if the value exceeds ₹50 lakhs.

    • In this case, TDS amount would be ₹100000 (1% of ₹10000000).

    • The buyer is required to deduct TDS at the time of making payment to the seller.

    • TDS should be deposited with the government and TDS certificate should be issued to the seller.

  • Answered by AI
  • Q4. Due dates of filing gst return
  • Ans. 

    GST returns are typically due on the 20th of the following month.

    • GST returns are usually due on the 20th of the month following the tax period.

    • For example, the GST return for the month of January would typically be due on February 20th.

    • Late filing of GST returns can result in penalties and interest charges.

  • Answered by AI
  • Q5. Due date of filing income tax return for companies
  • Ans. 

    Companies must file their income tax return by the 15th day of the 3rd month after the end of their fiscal year.

    • Companies must file their income tax return by the 15th day of the 3rd month after the end of their fiscal year.

    • For example, if a company's fiscal year ends on December 31st, the income tax return would be due on March 15th.

    • Extensions may be available in certain circumstances, but the initial due date is typi...

  • Answered by AI
  • Q6. Accrued income and accrued expense under which head it is shown under balance sheet
  • Ans. 

    Accrued income is shown under the asset side of the balance sheet, while accrued expenses are shown under the liability side.

    • Accrued income is recorded as a current asset on the balance sheet, representing revenue that has been earned but not yet received.

    • Accrued expenses are recorded as a current liability on the balance sheet, representing expenses that have been incurred but not yet paid.

    • Accrued income increases the...

  • Answered by AI
  • Q7. Mat and its application
  • Ans. 

    MAT stands for Market Access Tool, used in finance for analyzing market trends and making investment decisions.

    • MAT is a software tool that helps finance professionals analyze market data and trends.

    • It can be used to track stock prices, monitor market volatility, and make informed investment decisions.

    • MAT may also include features for risk management and portfolio optimization.

    • Examples of MAT tools include Bloomberg Ter

  • Answered by AI
  • Q8. What is going concern concept and matching concept
  • Ans. 

    Going concern concept is the assumption that a company will continue to operate in the foreseeable future, while matching concept is the principle of matching expenses with revenues in the same accounting period.

    • Going concern concept assumes that a company will continue to operate for the foreseeable future without the need to liquidate assets or be forced out of business.

    • Matching concept states that expenses should be...

  • Answered by AI
  • Q9. What is prepain income and prepaid expenses
  • Ans. 

    Prepaid income is income received in advance, while prepaid expenses are expenses paid in advance.

    • Prepaid income is income received before it is earned, such as subscription fees paid in advance.

    • Prepaid expenses are expenses paid for in advance, like insurance premiums or rent.

    • Both prepaid income and prepaid expenses are recorded as assets on the balance sheet until they are earned or used.

  • Answered by AI
Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
No response

I was interviewed in Aug 2023.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Don’t add your photo or details such as gender, age, and address in your resume. These details do not add any value.
View all tips
Round 2 - One-on-one 

(1 Question)

  • Q1. 1.Accouting concepts 2.Ficticious assets 3.BRS 4.GST 5.TDS RATES 6.GST TDS DUE DATES 7.INCOME TAX DUE DATE
Round 3 - One-on-one 

(2 Questions)

  • Q1. Fictitious assets
  • Q2. Accounting principles

Interview Preparation Tips

Interview preparation tips for other job seekers - Go through basics to advanced level in theoretical accounting and practical accounting and also law and compliance

Finance Executive Interview Questions Asked at Other Companies

Q1. Certains Rules to follow - 1. Remove your footwear outside of the ... read more
Q2. Whats is the late date for filing and payment of TDS?
Q3. What is PV of Cash Inflow when outflow is Assets, Materials, Land ... read more
Q4. If an unknown amount received in our bank accounts. how will we t ... read more
asked in Wuerth
Q5. what's P2P what's invoice processing, Ap/AR related questions The ... read more
Interview experience
4
Good
Difficulty level
-
Process Duration
-
Result
-
Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Properly align and format text in your resume. A recruiter will have to spend more time reading poorly aligned text, leading to high chances of rejection.
View all tips
Round 2 - Technical 

(2 Questions)

  • Q1. About Basics of accounting
  • Q2. What is BRS and Income tax due dates
  • Ans. 

    BRS stands for Bank Reconciliation Statement. Income tax due dates vary by country and type of taxpayer.

    • BRS is a statement prepared to reconcile the balance as per company's books with the balance as per bank statement.

    • Income tax due dates differ by country and type of taxpayer, usually falling on specific dates throughout the year.

    • For example, in the US, individual income tax returns are due by April 15th each year.

    • In...

  • Answered by AI

Interview Preparation Tips

Interview preparation tips for other job seekers - Go through basics to advanced level in theoretical accounting and practical accounting and also law and compliance

Interview questions from similar companies

Interview experience
4
Good
Difficulty level
-
Process Duration
-
Result
-
Round 1 - HR 

(1 Question)

  • Q1. Current profile
Round 2 - Technical 

(1 Question)

  • Q1. What are the capital expenditures in accounting?
Interview experience
4
Good
Difficulty level
-
Process Duration
-
Result
-
Round 1 - HR 

(1 Question)

  • Q1. Current profile
Round 2 - Technical 

(1 Question)

  • Q1. What are the capital expenditures in accounting?
Interview experience
4
Good
Difficulty level
-
Process Duration
-
Result
-
Round 1 - One-on-one 

(1 Question)

  • Q1. Current profile in detail
Interview experience
4
Good
Difficulty level
Moderate
Process Duration
Less than 2 weeks
Result
Selected Selected

I applied via Referral and was interviewed in Jan 2023. There were 4 interview rounds.

Round 1 - Resume Shortlist 
Pro Tip by AmbitionBox:
Keep your resume crisp and to the point. A recruiter looks at your resume for an average of 6 seconds, make sure to leave the best impression.
View all tips
Round 2 - One-on-one 

(1 Question)

  • Q1. Personal round on basis of previous experience
Round 3 - HR 

(1 Question)

  • Q1. Salary discussion and negotiation
Round 4 - One-on-one 

(1 Question)

  • Q1. Manager round about skills and knowledge

Interview Preparation Tips

Interview preparation tips for other job seekers - Till now Good place to work and just there is Long notice period. I have recently joined wfh so cant express much .
Interview experience
5
Excellent
Difficulty level
Moderate
Process Duration
4-6 weeks
Result
Selected Selected

I was interviewed before Dec 2023.

Round 1 - One-on-one 

(2 Questions)

  • Q1. Why you want to join KPIT?
  • Ans. 

    I want to join KPIT because of its reputation for innovation and growth opportunities in the field of Accounts & Finance.

    • KPIT is known for its cutting-edge technology solutions in the automotive industry.

    • I am impressed by KPIT's commitment to sustainability and corporate social responsibility.

    • I believe KPIT's global presence will provide me with valuable international exposure.

    • I am excited about the opportunity to ...

  • Answered by AI
  • Q2. Will you planning for long term?
  • Ans. 

    Yes, I believe in planning for the long term to ensure stability and growth.

    • I always set long term financial goals and create a strategic plan to achieve them.

    • I regularly review and adjust my financial strategies to stay on track towards long term objectives.

    • Examples of long term planning include investing in retirement funds, creating savings plans, and budgeting for major expenses.

    • I believe in the importance of forec...

  • Answered by AI

Interview Preparation Tips

Interview preparation tips for other job seekers - Be prepared and practical.

IBS Software Services Interview FAQs

How many rounds are there in IBS Software Services Finance Executive interview?
IBS Software Services interview process usually has 2-3 rounds. The most common rounds in the IBS Software Services interview process are Resume Shortlist, One-on-one Round and Technical.
How to prepare for IBS Software Services Finance Executive interview?
Go through your CV in detail and study all the technologies mentioned in your CV. Prepare at least two technologies or languages in depth if you are appearing for a technical interview at IBS Software Services. The most common topics and skills that interviewers at IBS Software Services expect are Accounting, Balance Sheet, Finance, Banking and Bill Processing.
What are the top questions asked in IBS Software Services Finance Executive interview?

Some of the top questions asked at the IBS Software Services Finance Executive interview -

  1. Accrued income and accrued expense under which head it is shown under balance s...read more
  2. What is prepain income and prepaid expen...read more
  3. What is going concern concept and matching conc...read more

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IBS Software Services Finance Executive Interview Process

based on 2 interviews

1 Interview rounds

  • Resume Shortlist Round
View more

Finance Executive Interview Questions from Similar Companies

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IBS Software Services Finance Executive Salary
based on 16 salaries
₹3.4 L/yr - ₹6.3 L/yr
41% more than the average Finance Executive Salary in India
View more details

IBS Software Services Finance Executive Reviews and Ratings

based on 3 reviews

4.8/5

Rating in categories

4.8

Skill development

4.5

Work-life balance

4.3

Salary

4.7

Job security

4.5

Company culture

4.5

Promotions

4.7

Work satisfaction

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