IDBI Intech Limited Interview Questions, Process, and Tips

Q1. How to recognise revenue as per Indas 115
Ans. 
Revenue recognition as per IndAS 115
• Identify the contract with the customer

• Identify the performance obligations in the contract

• Determine the transaction price

• Allocate the transaction price to the performance obligations

• Recognize revenue when (or as) the entity satisfies a performance obligation
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Q2. Journal entry of lease accounting in the books of lessee
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The journal entry for lease accounting in the books of lessee involves recording the lease liability and right-of-use asset.
• Debit the right-of-use asset account for the present value of the lease payments

• Credit the lease liability account for the same amount

• Recognize interest expense on the lease liability

• Recognize amortization expense on the right-of-use asset

• Adjust for any lease payments made

• Example: Debit Right-of-U...read more
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Q3. Difference between service and manufacturing industry
Ans. 
Service industry provides intangible products while manufacturing industry produces tangible products.
• Service industry focuses on providing services rather than physical products

• Manufacturing industry involves the production of tangible goods

• Service industry is labor-intensive while manufacturing industry is capital-intensive

• Service industry has a higher degree of customer interaction compared to manufacturing industry

• ...read more
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Q4. Statutory dues payment and return due date-GST, TDS, PF, PT, ESIC
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Q5. JE of Provision for doubtful debt and there treatment in financials
Ans. 
Provision for doubtful debt is an estimation of the amount of bad debt that a company is likely to incur.
• Provision for doubtful debt is a contra account to accounts receivable.

• It is created by recording an adjusting entry at the end of each accounting period.

• The amount of the provision is based on historical data and management's judgment.

• It reduces the net value of accounts receivable on the balance sheet.

• If the actua...read more
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Q6. How to audit purchase or expenses voucher
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To audit purchase or expenses voucher, follow these steps:
• Verify the authenticity of the voucher

• Check if the voucher is properly authorized and approved

• Ensure that the voucher is supported by relevant documents

• Verify the accuracy of the voucher amount

• Check if the voucher is recorded in the correct account

• Perform a test check of a sample of vouchers

• Document the audit findings and report to management
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Q7. Explain about Indas 115
Ans. 
Ind AS 115 is a new revenue recognition standard that replaces the existing Ind AS 18 and Ind AS 11.
• Ind AS 115 provides a single, comprehensive revenue recognition model for all contracts with customers.

• It requires companies to recognize revenue based on the transfer of control of goods or services to customers.

• The standard also requires companies to disclose more information about their revenue streams and contract ba...read more
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HR takes the round, predefined questions.

Q1. This round is taken by technical expert.
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Q1. This is taken by subject matter expert.
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Basic asp.net C#, OOPS, SQL questions were asked, some of them were from HTML /Css. (MCQ ques on Google form)

Q1. Concepts of opps, SQL joints and some queries, basic classes in C#
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Q2. What is oops,explain polymorphism,
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Q3. Explain inheritance
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Q1. Can you provide a self-introduction?
Ans. 
I am a dedicated and experienced phone banking officer with a strong background in customer service and financial transactions.
• I have over 5 years of experience in the banking industry

• Skilled in handling customer inquiries and resolving issues efficiently

• Proficient in processing financial transactions accurately and securely
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Q2. What should we know about the company?
Ans. 
Our company is a leading financial institution with a strong focus on customer service and innovation.
• Founded in 2005, we have a proven track record of providing top-notch banking services to our customers.

• We prioritize customer satisfaction and strive to exceed their expectations in every interaction.

• Our company values teamwork, integrity, and continuous improvement to deliver the best possible service.

• We offer a wide...read more
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