Infosys BPM Process Accountant Specialist Interview Questions and Answers

Q1. There are three branches of accounting
Ans. 
The three branches of accounting are financial accounting, management accounting, and cost accounting.
• Financial accounting focuses on reporting financial information to external stakeholders.

• Management accounting involves providing financial information to internal management for decision-making.

• Cost accounting deals with analyzing and controlling costs within a company.

• Each branch serves a different purpose and audien
Answered by AI
Add your answer
Q2. Types of accounting golden rules
Ans. 
The accounting golden rules are basic principles that guide the process of recording financial transactions.
• There are three types of accounting golden rules: Personal Account, Real Account, and Nominal Account.

• Personal Account: Debit the receiver, credit the giver. Example: When cash is received from a customer, cash account is debited.

• Real Account: Debit what comes in, credit what goes out. Example: Purchase of machin...read more
Answered by AI
Add your answer
Q3. What is the balance sheet
Ans. 
The balance sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time.
• It lists a company's assets, liabilities, and shareholders' equity.

• Assets are what the company owns, such as cash, inventory, and property.

• Liabilities are what the company owes, such as loans and accounts payable.

• Shareholders' equity represents the company's net worth, calculated as assets m...read more
Answered by AI
Add your answer
Q4. Trail Balance Definition
Ans. 
A trial balance is a list of all the general ledger accounts contained in the ledger of a business.
• It is used to ensure that the total debits equal the total credits in the accounting records.

• It is prepared at the end of an accounting period before the financial statements are prepared.

• Errors in recording or posting transactions can be identified by preparing a trial balance.

• Example: If the total debits and credits do ...read more
Answered by AI
Add your answer
Q5. What is the Working capital
Ans. 
Working capital is the difference between a company's current assets and current liabilities.
• Working capital is a measure of a company's operational efficiency and short-term financial health.

• It represents the amount of liquid assets available to a company to fund its day-to-day operations.

• Formula: Working Capital = Current Assets - Current Liabilities

• Positive working capital indicates that a company has enough assets ...read more
Answered by AI
Add your answer
Q6. Defin depreciation and it types
Ans. 
Depreciation is the allocation of the cost of an asset over its useful life.
• Depreciation is a non-cash expense that reduces the value of an asset over time.

• Types of depreciation include straight-line, double declining balance, units of production, and sum-of-the-years-digits.

• Straight-line depreciation evenly spreads the cost of an asset over its useful life.

• Double declining balance front-loads depreciation expenses.

• Uni...read more
Answered by AI
Add your answer

Q1. Self introduction
Add your answer
Q2. About the role and responsibilities
Add your answer

Q1. How you see yourself in next 5 years
Ans. I am seeing myself to grow professionally and academically in next 5 years.
Answered Anonymously
Add your answer

Q1. What are 3 types of Accounts
Ans. 
Types of accounts include assets, liabilities, and equity.
• Assets: resources owned by the company, such as cash, inventory, and equipment

• Liabilities: debts or obligations owed by the company, such as loans and accounts payable

• Equity: the owner's stake in the company, calculated as assets minus liabilities
Answered by AI
Add your answer
Q2. Personal Account Nominal Account Real Account
Add your answer

Discuss affects of AI on future of Accounting procedures.

Good communication skills development

Coding and de coding test

Q1. Personal details about you
Add your answer
Q2. Where do you see yourself in 5 years
Add your answer

Q1. Asking about job profile
Add your answer
Q2. Portfolio questions about
Add your answer

Q1. Tell me about yourself
Add your answer
Q2. This question is usually the first question in an interview, and it is a way to break the ice. You should answer this question by giving a brief overview of your education, work experience, and skills. You...read more
Add your answer

Accounting questions for aptitude test

Q1. What is working capital
Ans. 
Working capital is the difference between a company's current assets and current liabilities.
• Working capital is a measure of a company's operational efficiency and short-term financial health.

• It shows how much liquid assets a company has available to meet its short-term obligations.

• Formula: Working Capital = Current Assets - Current Liabilities

• Examples of current assets: cash, accounts receivable, inventory

• Examples of ...read more
Answered by AI
Add your answer
Q2. What is a accounting process
Ans. 
Accounting process refers to the series of steps taken to record, analyze, and report financial transactions of a business.
• The accounting process starts with identifying and recording financial transactions.

• Transactions are then classified into different accounts based on their nature (e.g. assets, liabilities, equity, revenue, expenses).

• The recorded transactions are then summarized and analyzed to prepare financial st...read more
Answered by AI
Add your answer
Q3. All accounting questions
Add your answer
Q4. State the three main types of accounting
Ans. 
The three main types of accounting are financial accounting, management accounting, and tax accounting.
• Financial accounting focuses on recording and reporting financial transactions of a business.

• Management accounting involves providing information to help with internal decision-making and planning.

• Tax accounting deals with tax-related matters, such as preparing tax returns and ensuring compliance with tax laws.
Answered by AI
Add your answer
Q5. Golden rules of accounting
Ans. 
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The three golden rules of accounting are: 1. Debit the receiver, credit the giver 2. Debit what comes in, credit what goes out 3. Debit expenses and losses, credit income and gains

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a...read more
Answered by AI
Add your answer

Logical reasoning and grammer

Q1. Describe yourelf
Ans. 
Experienced Executive Accountant with a strong background in financial analysis and reporting.
• Over 8 years of experience in accounting and finance

• Expertise in budgeting, forecasting, and financial modeling

• Proven track record of improving financial processes and efficiency

• Strong analytical skills and attention to detail

• Excellent communication and leadership abilities
Answered by AI
Add your answer