Mindsarray Network Executive Accountant Interview Questions and Answers

Q1. How to cover miscellaneous expenses
Ans. 
Miscellaneous expenses can be covered by creating a separate budget category, tracking expenses closely, and adjusting spending as needed.
• Create a separate budget category specifically for miscellaneous expenses

• Track all miscellaneous expenses closely to ensure they do not exceed the allocated budget

• Regularly review and adjust spending in the miscellaneous expenses category as needed

• Consider setting aside a small amoun...read more
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Q2. What is audit or gst
Ans. 
Audit is a systematic examination of financial records to verify their accuracy. GST is a value-added tax levied on most goods and services sold for domestic consumption.
• Audit involves reviewing financial statements, transactions, and internal controls to ensure accuracy and compliance with regulations.

• GST (Goods and Services Tax) is a consumption tax levied on the supply of goods and services in a country.

• Audit is con...read more
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Q1. What do you understand about Revenue Accounting
Ans. 
Revenue accounting involves recording and tracking all income earned by a company from its core business activities.
• Revenue accounting focuses on recognizing and recording revenue from sales, services, and other sources.

• It involves ensuring revenue is properly classified, measured, and reported in financial statements.

• Revenue recognition principles such as matching revenue with expenses and the realization principle ar...read more
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Q2. Any changes or improvements done by you in the last organisation
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It was basic 10th grade quantitative questions

Case study depending on the situation of current market condition

Q1. About yourself and your achievements
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Q1. About accounting knowledge
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Accounting related questions, financial statements and p and l Ifrs

Q1. With the team lead mostly accounting related questions
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Q2. Intangible assets, effect of changes in forex ,asset accounting revenue accounting
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