International Outsourcing Finance & Accounts Interview Questions and Answers

Q1. Tell about college life
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Q2. Tell me about yourself
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Q3. What is final account
Ans. 
Final account is a financial statement that summarizes a company's financial performance for a specific period.
• Final accounts include the trading account, profit and loss account, and balance sheet.

• The trading account shows the gross profit or loss of the business.

• The profit and loss account shows the net profit or loss of the business.

• The balance sheet shows the financial position of the business at a specific point i...read more
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Q4. What journal entry
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The journal entry for recording a purchase of equipment on credit
• Debit the Equipment account for the cost of the equipment

• Credit the Accounts Payable account for the amount owed

• Include the date of the transaction and a brief description

• Ensure the entry follows the double-entry accounting system
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Q5. What is bad debt
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Bad debt is an amount owed by a debtor that is unlikely to be paid, resulting in a loss for the creditor.
• Bad debt occurs when a customer fails to pay their outstanding balance.

• It is typically written off as a loss on the creditor's financial statements.

• Bad debt can result from customers declaring bankruptcy, going out of business, or simply refusing to pay.

• It is important for companies to properly account for bad debt ...read more
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Q6. What is TDS
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TDS stands for Tax Deducted at Source. It is a tax deduction made at the time of payment to the recipient.
• TDS is deducted by the payer and deposited with the government on behalf of the payee.

• It is applicable on various types of payments like salary, interest, commission, rent, etc.

• The rate of TDS varies based on the nature of payment and the tax laws.

• TDS certificates are issued to the payee as proof of tax deduction.

• T...read more
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Q1. Self introduction
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Q2. What is finance
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Finance is the management of money and other assets, including investments, budgeting, and financial planning.
• Finance involves managing money and assets to achieve financial goals.

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

• Finance helps individuals and organizations make informed financial decisions.

• Examples of finance include managing a company's cash flow, investing in stocks and bond
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Q1. What do you know about ICICI sales
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ICICI sales refers to the sales activities and strategies of ICICI Bank, one of the largest private sector banks in India.
• ICICI Bank offers a wide range of financial products and services to individual and corporate customers.

• The bank utilizes various channels such as branches, online platforms, and mobile apps to drive sales.

• ICICI Bank often runs promotional campaigns and offers discounts to attract new customers and ...read more
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Q2. What do you know about your local area
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Q1. Working experience communication skills
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Q2. Finance accounts marketing before question interview
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Q3. Digital experience
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Q1. Marketing finance information technology human rescoures
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Q2. Questions answers good company
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Q1. Tell me about P2P process
Ans. 
P2P process refers to procure-to-pay process which involves all steps from purchasing goods/services to making payment.
• P2P process starts with requisitioning of goods/services by a department.

• Next step involves obtaining quotes, selecting a vendor, and creating a purchase order.

• Goods/services are received, invoices are matched with purchase orders, and payments are made.

• P2P process helps in streamlining procurement and...read more
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Q1. Tell me about the company Tell me what you have learnt in the academic
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Q1. Golden rules of accounting
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The golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The golden rule of accounting is that for every debit entry, there must be an equal credit entry.

• There are three types of accounts: personal, real, and nominal.

• Personal accounts deal with individuals or organizations, real accounts deal with assets and liabilities, and nominal accounts deal with income and exp...read more
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Q1. What is TDS under income tax
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TDS stands for Tax Deducted at Source, a system where tax is deducted by the payer at the time of making payment.
• TDS is deducted by the payer at the time of making certain payments like salary, rent, commission, etc.

• The deducted amount is then deposited with the government on behalf of the payee.

• TDS rates vary based on the type of payment and the payee's status.

• TDS ensures a regular inflow of taxes to the government an...read more
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