Sathguru Management Consultants CA Article Assistant Interview Questions and Answers

I am a dedicated and hardworking individual with a passion for learning and growth.

• Graduate in Accounting from XYZ University

• Completed internship at ABC Firm

• Proficient in MS Excel and accounting software

• Strong analytical and problem-solving skills

I stay in a cozy apartment in the city center.

• I stay in a 2-bedroom apartment

• Located in the city center

• Close to public transportation

• Nearby grocery stores and restaurants

Verification of expenses involves reviewing supporting documents and ensuring accuracy and compliance.

• Reviewing receipts, invoices, and bills to ensure they are legitimate and accurate

• Checking for proper authorization and approval of expenses

• Comparing expenses to budgeted amounts or industry standards

• Ensuring expenses are recorded correctly in the accounting system

• Performing random spot checks to detect any potential f

Emphasis on matter paragraph highlights significant matters in financial statements while key audit matter focuses on significant audit matters.

• Emphasis on matter paragraph is included in the auditor's report while key audit matter is a separate section.

• Emphasis on matter paragraph highlights significant matters in the financial statements such as going concern, related party transactions, and significant accounting po...read more

Provision is a liability that is uncertain in timing or amount, while reserve is a portion of profits set aside for a specific purpose.

• Provision is an estimated expense that a company sets aside in its accounts to cover a potential future liability.

• Reserve is a portion of profits that a company sets aside for a specific purpose, such as to fund future expansion or to pay dividends.

• Provision is recognized as an expense ...read more

Contingent assets and liabilities are potential future events that may or may not occur.

• Contingent assets are potential assets that may arise from past events, but their existence is uncertain and depends on future events.

• Contingent liabilities are potential obligations that may arise from past events, but their existence is uncertain and depends on future events.

• Contingent assets and liabilities are disclosed in the f...read more

Capital gains are calculated by subtracting the cost of acquisition from the sale price of an asset.

• Determine the sale price of the asset

• Determine the cost of acquisition of the asset

• Subtract the cost of acquisition from the sale price to get the capital gain

• Apply any applicable exemptions or deductions to arrive at the taxable capital gain