Presto Infosolutions Finance Executive Interview Questions and Answers

Q1. Budgeting, costing, cash flow
Add your answer
Q2. Latest amendments in GST and Income tax , Ind As , capital budgeting
Ans. 
Recent amendments in GST, Income tax, Ind AS, and capital budgeting.
• GST: Introduction of e-invoicing and QR code, extension of due dates for filing returns.

• Income tax: Introduction of new tax regime, changes in TDS rates.

• Ind AS: Amendments related to lease accounting and revenue recognition.

• Capital budgeting: Emphasis on digitalization and automation, increased focus on risk management.
Answered by AI
Add your answer

Q1. Question related to AR invoice booking
Add your answer
Q2. Question on Budget and Forecasting
Add your answer

Q1. Journal Entries
Add your answer

Q1. Regarding previous work and experiance
Add your answer
Q2. Career objectives
Add your answer
Q3. Accounting entries regarding debtors and creditors
Add your answer

Good knowledge of basic accounting rules & IFRS.

Q1. 1. Tell me something about your self? 2. Share how your work day starts ? 3. Share whats the day to day activity you do in your work profile? 4. Few technical questions related to role? 5. Share some exper...read more
Add your answer

Q1. 1. Tell me about your self, experience, job profile etc? 2. How your current experience align with current role offered? 3. Achievements?
Add your answer

Q1. Tell me about yourself
Add your answer
Q2. Your work experience
Add your answer

Q1. Budgeting, costing, cash flow
Add your answer
Q2. Latest amendments in GST and Income tax , Ind As , capital budgeting
Ans. 
Recent amendments in GST, Income tax, Ind AS, and capital budgeting.
• GST: Introduction of e-invoicing and QR code, extension of due dates for filing returns.

• Income tax: Introduction of new tax regime, changes in TDS rates.

• Ind AS: Amendments related to lease accounting and revenue recognition.

• Capital budgeting: Emphasis on digitalization and automation, increased focus on risk management.
Answered by AI
Add your answer

Accounting questions related to derrral concept and around cash flows and working capital

Q1. Difference between provision and accrual
Ans. 
Provision is an estimated liability while accrual is a recognized expense.
• Provision is an estimated liability that is recognized when there is uncertainty about the amount or timing of a future expense.

• Accrual is a recognized expense that is recorded when it is incurred, regardless of when the payment is made.

• Provisions are made for potential future expenses, such as legal claims or warranty obligations.

• Accruals are ma...read more
Answered by AI
View 1 more answer
Q2. What is a lease(IFRS 16)
Ans. 
A lease is a contract between a lessor and a lessee, where the lessee pays the lessor for the use of an asset.
• IFRS 16 is a new accounting standard that requires companies to recognize most leases on their balance sheets

• Leases can be classified as finance leases or operating leases

• Finance leases are treated like asset purchases and the lessee records the leased asset as an asset and the lease obligation as a liability

• Op...read more
Answered by AI
Add your answer
Q3. Difference between deferred revenue and unearned income
Ans. 
Deferred revenue and unearned income are terms used interchangeably to describe the same concept.
• Deferred revenue and unearned income refer to revenue received in advance for goods or services that have not yet been delivered or provided.

• Both terms represent a liability on the company's balance sheet until the revenue is recognized.

• Deferred revenue is commonly used in the software industry, where customers pay upfront ...read more
Answered by AI
View 2 more answers

Q1. Questions around deferred revenue
Add your answer
Q2. How to forecast revenue of a new product?
Ans. 
Forecasting revenue of a new product requires market research, analysis of competition, and estimation of demand.
• Conduct market research to identify potential customers and their needs

• Analyze competition to understand their pricing, marketing, and sales strategies

• Estimate demand based on market size, target audience, and pricing

• Consider external factors such as economic conditions and industry trends

• Use financial model...read more
Answered by AI
Add your answer