Indus Towers Assistant Manager Finance & Accounts Interview Questions and Answers

Q1. Accounting mcq online
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Q2. Excel solving online
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Q1. Dso calculation
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Q2. Current experience
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Q1. What will be the indas 115
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Ind AS 115 is a new revenue recognition standard that replaces the existing revenue recognition guidance in Ind AS 18 and Ind AS 11.
• Ind AS 115 establishes a comprehensive framework for recognizing revenue from contracts with customers.

• It requires entities to identify performance obligations in a contract, determine the transaction price, allocate the transaction price to the performance obligations, and recognize reven...read more
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Q2. What is accounting standard says
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Accounting standards are rules and guidelines set by accounting bodies to ensure consistency and transparency in financial reporting.
• Accounting standards provide a framework for how financial transactions should be recorded, reported, and disclosed.

• They help ensure that financial statements are prepared in a consistent and comparable manner.

• Examples of accounting standards include GAAP (Generally Accepted Accounting Pr...read more
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Q1. How the project analysed
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Projects are analyzed through financial statements, budgeting, forecasting, and variance analysis.
• Financial statements are analyzed to assess the financial health of the project.

• Budgeting involves creating a financial plan for the project and comparing actual expenses to the budgeted amounts.

• Forecasting helps predict future financial performance based on historical data and market trends.

• Variance analysis involves comp...read more
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Q1. How will you see in next 5 years
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Q2. How confident in work
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Q1. Budgeting, costing, cash flow
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Q2. Latest amendments in GST and Income tax , Ind As , capital budgeting
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Recent amendments in GST, Income tax, Ind AS, and capital budgeting.
• GST: Introduction of e-invoicing and QR code, extension of due dates for filing returns.

• Income tax: Introduction of new tax regime, changes in TDS rates.

• Ind AS: Amendments related to lease accounting and revenue recognition.

• Capital budgeting: Emphasis on digitalization and automation, increased focus on risk management.
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Q1. Asked me about SAP some discussed about my current work profile.
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Good knowledge of basic accounting rules & IFRS.

Q1. 1. Tell me something about your self? 2. Share how your work day starts ? 3. Share whats the day to day activity you do in your work profile? 4. Few technical questions related to role? 5. Share some exper...read more
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Q1. 1. Tell me about your self, experience, job profile etc? 2. How your current experience align with current role offered? 3. Achievements?
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Q1. Basic questions
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Q2. Experience and othwrs
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Accounting questions related to derrral concept and around cash flows and working capital

Q1. Difference between provision and accrual
Ans. 
Provision is an estimated liability while accrual is a recognized expense.
• Provision is an estimated liability that is recognized when there is uncertainty about the amount or timing of a future expense.

• Accrual is a recognized expense that is recorded when it is incurred, regardless of when the payment is made.

• Provisions are made for potential future expenses, such as legal claims or warranty obligations.

• Accruals are ma...read more
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Q2. What is a lease(IFRS 16)
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A lease is a contract between a lessor and a lessee, where the lessee pays the lessor for the use of an asset.
• IFRS 16 is a new accounting standard that requires companies to recognize most leases on their balance sheets

• Leases can be classified as finance leases or operating leases

• Finance leases are treated like asset purchases and the lessee records the leased asset as an asset and the lease obligation as a liability

• Op...read more
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Q3. Difference between deferred revenue and unearned income
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Deferred revenue and unearned income are terms used interchangeably to describe the same concept.
• Deferred revenue and unearned income refer to revenue received in advance for goods or services that have not yet been delivered or provided.

• Both terms represent a liability on the company's balance sheet until the revenue is recognized.

• Deferred revenue is commonly used in the software industry, where customers pay upfront ...read more
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Q1. Questions around deferred revenue
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Q2. How to forecast revenue of a new product?
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Forecasting revenue of a new product requires market research, analysis of competition, and estimation of demand.
• Conduct market research to identify potential customers and their needs

• Analyze competition to understand their pricing, marketing, and sales strategies

• Estimate demand based on market size, target audience, and pricing

• Consider external factors such as economic conditions and industry trends

• Use financial model...read more
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