Navkar Consultancy Services Senior Accountant Interview Questions and Answers for Experienced

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Q1. 1. Introduce your Self 2. Golden Rules of Accounts (3 Golden Rules)
Ans. 
I am a Senior Accountant with expertise in financial reporting and analysis.
• The three golden rules of accounts are: a) Debit the receiver, credit the giver b) Debit what comes in, credit what goes out c) Debit all expenses and losses, credit all incomes and gains

• These rules are the foundation of double-entry bookkeeping and ensure accuracy in financial transactions.

• For example, if a company purchases inventory on credi...read more
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Q1. 1. Introduce yourself 2. Tell me about the process of your previous organization? 3. Do you have any Excel knowledge?
Ans. 
I am a Senior Accountant with experience in managing financial processes and proficient in Excel.
• Managed financial processes including budgeting, forecasting, and reporting

• Ensured compliance with accounting standards and regulations

• Collaborated with cross-functional teams to streamline processes and improve efficiency

• Proficient in Excel for data analysis and reporting

• Developed and implemented internal controls to mitig...read more
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Knowledgeble aptitute test

Q1. What is current account
Ans. 
The current account is a component of a country's balance of payments that records the transactions of goods, services, income, and current transfers.
• It includes exports and imports of goods and services

• It also includes income from investments and transfers such as foreign aid

• The current account balance can be positive (surplus) or negative (deficit)

• A surplus indicates that a country is exporting more than it is import...read more
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Q2. What is preliminary expenses
Ans. 
Preliminary expenses are the costs incurred before a company starts its operations.
• Preliminary expenses are one-time costs that are necessary to set up a business.

• These expenses include legal fees, registration fees, market research costs, etc.

• Preliminary expenses are considered as intangible assets and are amortized over a period of time.

• They are recorded on the balance sheet under the 'Intangible Assets' section.

• Exam...read more
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Q3. Difference between revenue and capital expenditure
Ans. 
Revenue is income generated from the core operations of a business, while capital expenditure is the investment in long-term assets.
• Revenue is the money earned by a company through its primary activities, such as sales of goods or services.

• Capital expenditure refers to the funds spent on acquiring or improving long-term assets, such as property, equipment, or technology.

• Revenue is typically recurring and contributes to...read more
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Q1. *Introduce yourself *Purpose of working in the Company *Educational Background *Family Background *Goals and Ambition
Ans. 
Experienced professional with a strong educational background and clear career ambitions, eager to contribute to the company's success.
• I have over 5 years of experience in project management, leading teams to successfully deliver complex projects on time.

• I hold a Master's degree in Business Administration from XYZ University, where I specialized in strategic management.

• My family has always emphasized the importance of ...read more
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