ONE BCG Finance Intern Interview Questions and Answers

Group discussions
Topic based GD
Case study GD
Debate style GD
Problem solving GD

Q1. Is AI a threat to human job
Ans. 
AI poses a potential threat to certain jobs but also creates new opportunities for human workers.
• AI can automate repetitive tasks, leading to job displacement in certain industries

• However, AI also creates new job opportunities in fields such as data analysis, AI development, and machine learning

• Human workers can focus on tasks that require creativity, critical thinking, and emotional intelligence, areas where AI curren...read more
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Q2. Can 5G revolution technology
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Yes, 5G technology has the potential to revolutionize various industries with its high speed, low latency, and massive connectivity.
• 5G technology enables faster data speeds, lower latency, and increased network capacity.

• It can support the Internet of Things (IoT) devices, autonomous vehicles, smart cities, and virtual reality applications.

• 5G can improve efficiency in industries like healthcare, manufacturing, and trans...read more
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Q3. How important is data privacy in today world
Ans. 
Data privacy is crucial in today's world to protect personal information from misuse and unauthorized access.
• Data privacy helps prevent identity theft and fraud

• It ensures confidentiality of sensitive information such as financial records and medical history

• Regulations like GDPR and CCPA require organizations to protect consumer data

• Data breaches can have severe consequences for individuals and businesses

• Maintaining dat...read more
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Q4. Blockchain - just hype or the future
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Q5. Blockchain- just hype or the future
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Q1. Tell me about yourself Why do you want this job
Ans. 
Experienced finance professional with a strong track record in budgeting, forecasting, and financial analysis. Passionate about driving business growth through strategic financial management.
• I have over 8 years of experience in finance, including roles in budgeting, forecasting, and financial analysis.

• I am skilled in financial modeling and have a proven track record of improving financial performance.

• I am passionate ab...read more
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Q2. I am deepanshu Gupta and I have Fraser I have skills in football and I enjoy working on
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Aptitudes test assess a person logical reasoning problem solving and analysis skills they are commonly used in job recruitment collages and admissions

Online assessment (Technical, English, Reasoning)

Q1. Difference between Balance sheet and trial balance
Ans. 
Balance sheet shows assets, liabilities, and equity at a specific point in time. Trial balance lists all ledger accounts with their balances.
• Balance sheet is a snapshot of a company's financial position at a specific point in time.

• Trial balance is a list of all ledger accounts with their balances to ensure debits equal credits.

• Balance sheet includes assets, liabilities, and equity sections.

• Trial balance is used to prep...read more
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Q2. Standard costing formula
Ans. 
Standard costing formula calculates the expected cost of a product based on predetermined standards.
• Standard costing formula includes direct materials, direct labor, and overhead costs.

• It helps in comparing actual costs with standard costs to identify variances.

• Formula: Standard Cost = Standard Quantity of Inputs x Standard Price of Inputs
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Q3. Journal entries for Prepaid Accruals Depreciation with accumulated depreciation concept Provision for Bad debts DTA and DTL
Ans. 
Explanation of journal entries for Prepaid, Accruals, Depreciation, Provision for Bad debts, DTA, and DTL.
• Prepaid expenses are initially recorded as assets and then expensed over time as they are used up.

• Accruals are expenses incurred but not yet paid or revenue earned but not yet received.

• Depreciation is the allocation of the cost of a fixed asset over its useful life, with accumulated depreciation representing the to...read more
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Q4. Case study on Ind AS 115
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Q5. Preparation of balance sheet and computation of various ratios
Ans. 
Preparation of balance sheet involves listing assets, liabilities, and equity. Ratios are computed using financial data from the balance sheet.
• List all assets, liabilities, and equity on the balance sheet

• Calculate various financial ratios such as current ratio, debt to equity ratio, and return on equity

• Use formulae like Current Ratio = Current Assets / Current Liabilities

• Interpret the ratios to analyze the financial he
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Q6. Accounting principles
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Q1. What is DTA and DTL
Ans. 
DTA stands for Deferred Tax Asset and DTL stands for Deferred Tax Liability.
• DTA is an asset recorded on a company's balance sheet that may be used to reduce taxable income in the future.

• DTL is a liability recorded on a company's balance sheet that represents taxes that have been accrued but not yet paid.

• DTA arises when a company has overpaid taxes or has tax deductions that exceed its taxable income.

• DTL arises when a c...read more
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Q2. Accounting entry for accumulated depreciation
Ans. 
Accumulated depreciation is a contra asset account that represents the total depreciation expense taken on an asset since it was acquired.
• Accumulated depreciation is recorded on the balance sheet as a reduction from the gross amount of fixed assets to arrive at the net book value.

• The accounting entry for accumulated depreciation involves debiting the depreciation expense account and crediting the accumulated depreciati...read more
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Q3. Few resume based questions
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Q4. Standard costing formula
Ans. 
Standard costing formula calculates the expected cost of a product based on predetermined standards.
• Standard costing formula = Standard cost of direct materials + Standard cost of direct labor + Standard manufacturing overhead cost

• Standard cost of direct materials = Standard quantity of materials x Standard price per unit

• Standard cost of direct labor = Standard hours of labor x Standard rate per hour

• Standard manufactur...read more
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Q5. Difference between budgeting and forecasting
Ans. 
Budgeting involves setting financial goals and allocating resources, while forecasting predicts future financial outcomes based on past data and trends.
• Budgeting is a plan for how to allocate resources and achieve financial goals

• Forecasting predicts future financial outcomes based on past data and trends

• Budgeting is typically done on an annual basis, while forecasting can be done on a shorter or longer term basis

• Budget...read more
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Q6. Meaning of variance analysis
Ans. 
Variance analysis is a technique used to identify and analyze the difference between planned financial outcomes and actual results.
• Variance analysis helps in understanding the reasons for deviations from budgeted or expected figures.

• It involves comparing actual financial performance with budgeted or standard performance.

• Common types of variances include price variance, quantity variance, and mix variance.

• Variance analy...read more
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Q1. Account payable?
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Q2. Difference between Profit & Revenue
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Q1. What is the capital market?
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Q1. What is contingent liabilities
Ans. 
Contingent liabilities are potential liabilities that may arise in the future depending on the outcome of certain events.
• Contingent liabilities are not recorded on the balance sheet but disclosed in the footnotes.

• They are dependent on a future event occurring or not occurring.

• Examples include lawsuits, warranties, and guarantees.

• If the contingent liability is probable and the amount can be estimated, it should be recor
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Q2. What is provision
Ans. 
Provision is an amount set aside in financial statements to cover anticipated future expenses or losses.
• Provision is a liability that is recognized on the balance sheet.

• It is used to account for potential future expenses or losses that are uncertain but likely to occur.

• Examples of provisions include bad debt provisions, warranty provisions, and restructuring provisions.
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It represents a person's level of competency to perform a certain type of task. Aptitude tests are often used to assess academic potential or career suitability and may be used to assess either mental or physical talent in a variety Domains

Q1. Asking many questions like introduction
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Q2. What is your Qualification
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Q3. Related to our qualification background
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Q4. Our skills and knowledge cheking
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Involve working through a business problem or scenario with the interviewer to reach a logical conclusion.

Q1. Management fee how is calculated
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Q2. Private equity and real estate funds
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