PwC
20+ Afcons Infrastructure Interview Questions and Answers
Q1. What are the current Renewable Energy schemes that are now being imlemented in India ?
India is implementing various renewable energy schemes such as solar parks, wind power projects, and hydroelectric power projects.
Solar parks with a capacity of 40 GW are being set up across the country
Wind power projects with a capacity of 60 GW are being implemented
Hydroelectric power projects with a capacity of 60 GW are being developed
Kisan Urja Suraksha evam Utthaan Mahabhiyan (KUSUM) scheme for solar pumps and grid-connected solar power projects
Pradhan Mantri Kisan Urja...read more
Q2. How does SAP know which GRIR line items to clear?
SAP uses various criteria to clear GRIR line items.
SAP matches the invoice and purchase order information with the GRIR line item.
SAP considers the age of the GRIR line item and clears the oldest items first.
SAP can also use specific clearing rules set up by the user.
If there are multiple open items, SAP may use the FIFO (first in, first out) method to clear them.
SAP can also use the LIFO (last in, first out) method to clear items.
If there are still open items, SAP may requir...read more
Q3. What is tax jurisdiction in SAP?
Tax jurisdiction in SAP determines the tax laws and regulations applicable to a particular business transaction.
It is used to determine the tax codes and rates for a transaction
It is based on the location of the company code and the customer/vendor
It can be set up at various levels such as country, state, city, etc.
It is important for compliance with tax laws and regulations
Example: A company based in the US selling to a customer in Canada would have different tax jurisdictio...read more
Q4. Give some of the major observations of p2p along with financial impact
Major observations of p2p with financial impact
Increased efficiency in transactions due to direct peer-to-peer interactions
Reduced costs as intermediaries are eliminated from the process
Greater transparency and security in transactions
Potential for disintermediation in various industries
Challenges with regulation and legal frameworks
Examples: Bitcoin, Ethereum, Airbnb, Uber
Q5. What is clearing account?
A clearing account is a temporary account used to hold funds until they can be transferred to their final destination.
Clearing accounts are commonly used in banking and accounting.
They are used to hold funds until they can be transferred to their final destination.
Clearing accounts are often used in international transactions to ensure that funds are properly transferred between different currencies.
Examples of clearing accounts include suspense accounts, transit accounts, an...read more
Q6. 5 points to consider while drafting standard of operating procedures
5 key points to consider when drafting standard operating procedures
Clearly define the purpose and scope of the SOP
Ensure the SOP is written in a clear and concise manner
Include step-by-step instructions for each process
Specify roles and responsibilities of individuals involved
Regularly review and update the SOP to reflect any changes in processes
Q7. Reverse a string without using in built function
Reverse a string without using in built function
Iterate through the string from end to start and append each character to a new string
Alternatively, swap characters from start and end of the string until reaching the middle
Q8. Guesstimate: No. of vada pav stalls in Mumbai?
There are approximately 15,000 vada pav stalls in Mumbai.
Consider the population of Mumbai and the popularity of vada pav as a street food.
Estimate the number of stalls per area in the city.
Factor in the demand for vada pav during peak hours and locations like train stations.
Take into account the number of tourists and locals who consume vada pav regularly.
Q9. How will u audit revenue?
Revenue audit involves verifying financial records to ensure accuracy and compliance with accounting standards.
Reviewing sales invoices and receipts
Checking for proper revenue recognition
Comparing revenue to budget and prior periods
Analyzing revenue by product, customer, and region
Testing internal controls over revenue
Confirming revenue with customers and third parties
Investigating any unusual fluctuations or discrepancies
Q10. Software worked upon as an article trainee
During my article trainee period, I worked on various software applications including accounting software, tax software, and audit software.
Accounting software
Tax software
Audit software
Q11. Custom object that you worked on
Developed a custom object for tracking employee training and certifications.
Created custom fields to track training completion and expiration dates.
Implemented validation rules to ensure data accuracy.
Built custom reports and dashboards for management visibility.
Integrated with HRIS system for automated updates.
Provided training to end-users on new functionality.
Q12. FI entries for GR IR
FI entries for GR IR
FI entries refer to financial accounting entries
GR IR stands for Goods Receipt Invoice Receipt
FI entries for GR IR are the accounting entries related to the receipt of goods and the corresponding invoice
These entries are recorded in the general ledger accounts
Examples of FI entries for GR IR include debiting the inventory account and crediting the accounts payable account
Q13. Instances of challenging situations
Dealing with difficult clients and resolving conflicts in a professional manner.
Remaining calm and composed during heated discussions
Active listening to understand the client's concerns
Finding mutually beneficial solutions through negotiation
Seeking guidance from senior colleagues when necessary
Q14. What is machine learning
Machine learning is a branch of artificial intelligence that involves developing algorithms and models that enable computers to learn from and make predictions or decisions based on data.
Machine learning involves training algorithms to recognize patterns in data and make predictions or decisions without being explicitly programmed.
Common machine learning techniques include supervised learning, unsupervised learning, and reinforcement learning.
Examples of machine learning appl...read more
Q15. What is deel learning
Deep learning is a subset of machine learning that uses neural networks to learn from large amounts of data.
Utilizes neural networks to learn complex patterns in data
Requires large amounts of data for training
Used in various applications such as image and speech recognition
Examples include convolutional neural networks (CNNs) and recurrent neural networks (RNNs)
Q16. What is Contingent liability
Contingent liability is a potential liability that may occur in the future depending on the outcome of a specific event.
Contingent liabilities are not recorded on the balance sheet but disclosed in the notes to the financial statements.
They are dependent on a future event, such as a lawsuit outcome or a product warranty claim.
If the event occurs, the company will have to fulfill the obligation and recognize the liability.
Examples include pending lawsuits, guarantees on loans,...read more
Q17. what is polymorphism in java
Polymorphism in Java allows objects of different classes to be treated as objects of a common superclass.
Polymorphism is achieved through method overriding and method overloading.
Method overriding allows a subclass to provide a specific implementation of a method that is already provided by its superclass.
Method overloading allows multiple methods with the same name but different parameters to coexist in the same class.
Polymorphism helps in achieving flexibility and extensibi...read more
Q18. What is p value
The p value is a statistical measure that helps determine the significance of results in hypothesis testing.
The p value is the probability of obtaining results as extreme as the observed results, assuming the null hypothesis is true.
A p value of less than 0.05 is typically considered statistically significant, indicating that the null hypothesis can be rejected.
A p value greater than 0.05 suggests that the results are not statistically significant, and the null hypothesis can...read more
Q19. Undervaluation of liabilities
Undervaluation of liabilities refers to the situation where a company underestimates the amount of money it owes to creditors or other parties.
Undervaluation of liabilities can lead to financial instability and potential legal issues.
Common examples include underestimating the amount of debt owed or not properly accounting for future obligations like pension liabilities.
Companies may engage in undervaluation of liabilities to make their financial position appear stronger than...read more
Q20. inheretance in java
Inheritance in Java allows a class to inherit properties and behavior from another class.
Inheritance is achieved using the 'extends' keyword in Java.
Subclasses inherit fields and methods from their superclass.
Java does not support multiple inheritance, but a class can implement multiple interfaces.
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