Mittal Infocom Interview Questions and Answers

Reconciling 3b involves comparing financial records to ensure accuracy and consistency.

• Review all transactions related to 3b in the financial statements

• Check for any discrepancies or errors in the records

• Ensure that all entries are properly classified and accounted for

• Compare the 3b balance to supporting documentation or previous periods for consistency

Returns reconciliation involves comparing sales records with returned items to ensure accuracy.

• Compare sales records with return records to identify discrepancies

• Investigate reasons for returns and ensure proper documentation

• Adjust inventory and financial records accordingly

• Communicate with customers and vendors to resolve any issues

• Use accounting software to streamline the reconciliation process

I am a dedicated and experienced Executive Accountant with a strong background in financial management and analysis.

• I have over 8 years of experience in accounting and finance

• I have a proven track record of successfully managing budgets and financial reporting

• I am skilled in financial analysis, forecasting, and strategic planning

• I have a Bachelor's degree in Accounting and a CPA certification

• I am proficient in using ac

Leases refer to agreements where one party allows another party to use an asset in exchange for periodic payments.

• Leases involve a lessor (owner of the asset) and a lessee (user of the asset).

• There are two main types of leases: operating leases and finance leases.

• Operating leases are typically short-term and do not transfer ownership of the asset.

• Finance leases are long-term and transfer most of the risks and rewards o...read more

Financial lease is a long-term lease where the lessee has ownership benefits, while operating lease is a short-term lease where the lessor retains ownership.

• Financial lease is a type of lease where the lessee has the benefits and risks of ownership, typically for the majority of the asset's useful life.

• Operating lease is a type of lease where the lessor retains ownership of the asset and the lessee uses it for a shorte...read more

GST R9 is a form used for filing annual returns under the Goods and Services Tax (GST) system.

• GST R9 is a document that needs to be filed by registered taxpayers on an annual basis.

• It contains details of the taxpayer's income, expenses, and tax liability for the entire financial year.

• The form includes information about input tax credit claimed, output tax liability, and any tax paid during the year.

• Taxpayers need to re...read more

GST R3B is a form used for filing monthly returns under the Goods and Services Tax (GST) system.

• GST R3B is a monthly return form that needs to be filed by registered taxpayers under the GST system.

• It includes details of outward supplies, inward supplies, and tax liability for the month.

• The form also requires information on input tax credit availed and tax paid.

• GST R3B helps in reconciling the tax liability and input ta...read more

ITR 1 is a form used by individuals to file their income tax returns in India.

• ITR 1 is also known as Sahaj form.

• It is applicable for individuals having income from salary, one house property, and other sources.

• It cannot be used by individuals who have income from business or profession.

• The form requires details of income, deductions, and taxes paid by the individual.

• It is filed annually to report the income earned and ...read more