Mercurius Advisory Services Assistant Accounts Manager Interview Questions and Answers

Basic questions related to English grammer, Quantitative Aptitude & reasoning were asked.

Questions were asked to test the proficiency in Data Structure, Core OOPs principles and any programming language.

Q1. What is inheritance, describe polymorphism, Tell me some Java 8 features, how stack works, differentiate between stack and queue considering their working, describe enhanced for loop in java, differentiate...read more
Ans. 
Inheritance is a mechanism in which a new class inherits properties and behaviors from an existing class. Polymorphism allows objects of different classes to be treated as objects of a common superclass.
• Java 8 features include lambda expressions, functional interfaces, streams, and default methods.

• Stack is a data structure that follows the Last In First Out (LIFO) principle, while a queue follows the First In First Out...read more
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Q1. What is Accounts Payable?
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Accounts Payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.
• Accounts Payable is a liability on the company's balance sheet.

• It represents the short-term debt that a company owes to its creditors.

• Examples of Accounts Payable include invoices from suppliers for inventory purchases or services rendered.

• Accounts Payable is typically paid within a specified per
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Q2. Explain TDS sec 194j and its limit?
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TDS sec 194j is a section of the Income Tax Act that deals with TDS on fees for professional or technical services.
• TDS sec 194j requires deduction of tax at source at the rate of 10% on fees for professional or technical services.

• The limit for TDS under sec 194j is Rs. 30,000 for a single payment or Rs. 1,00,000 in aggregate during the financial year.

• If the payment is made to an individual or HUF, the TDS rate is 10%. ...read more
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Q1. Difference between GSTR-2A and GSTR-2B?
Ans. 
GSTR-2A is auto-populated with data from suppliers, while GSTR-2B is a static statement generated by the taxpayer.
• GSTR-2A is generated by the GST system based on the data uploaded by suppliers.

• GSTR-2B is a static statement generated by the taxpayer after considering amendments, credit notes, etc.

• Taxpayers can make changes to GSTR-2B before filing, but not to GSTR-2A.

• GSTR-2A helps in reconciliation of input tax credit, ...read more
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Q1. IGAAP Caro indas audit report
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Q1. Ctc discussion and leave othe policy
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Q1. Final discussion and offer
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Excellent Communication Skills, Interpersonal Skills, Leadership Skills, Team Player, Confident, Self-motivated, Dynamic, Disciplined
and Positive thinker.

Q1. Good Knowledge Computer Skills
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Q2. Good Knowledge MS Office, Word, PowerPoint, Excel sheet
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Q3. Good Knowledge Documention Pdf copy and Excel sheet data maintained, Good Knowledge Contract NDA, Addendum Deed of Adherence PO manual created
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Q4. Good Knowledge oracle by PO and PR created
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Q5. Good Knowledge legal compliance and Audit supporting the team lead.
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Q1. IND AS 115 and IND AS 116
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Q1. About yourself basic introduction
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Q2. Number of attempts
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The question is asking about the number of attempts made for a particular task or goal.
• Provide the total number of attempts made

• Explain any factors that influenced the number of attempts

• Discuss the outcome of the attempts
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Q3. Past firm for CA internship
Ans. 
I interned at a mid-sized accounting firm in my final year of CA internship.
• Interned at a mid-sized accounting firm

• Gained experience in auditing, taxation, and financial reporting

• Worked closely with senior partners and clients

• Completed various projects and tasks to enhance my skills
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Q1. Accounting Standards
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Q2. Auditing Standards
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Q3. CARO new vs old
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CARO new vs old refers to the changes in the Companies (Auditor's Report) Order over time.
• CARO 2020 introduced new reporting requirements for auditors, such as reporting on internal financial controls and default in repayment of loans.

• CARO 2020 increased the threshold for applicability to companies with turnover exceeding Rs. 50 crore, compared to Rs. 20 crore in CARO 2016.

• CARO 2020 also requires reporting on the adequ...read more
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