SCA Health India Accounts Receivable Associate Interview Questions and Answers

Q1. What is diversification
Ans. 
Diversification is a risk management strategy that involves spreading investments across different assets to reduce overall risk.
• Diversification helps to minimize the impact of any one investment performing poorly

• It can be achieved by investing in a mix of stocks, bonds, real estate, and other assets

• The goal is to create a portfolio that is not overly reliant on the performance of a single asset or market

• Investors ofte...read more
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Q1. Technical questions and situational questions
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Q1. About joining and salary
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Q1. What have you done (Education as i was fresher then)
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Q2. Basic questions including financial markets.
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Q1. Banking, ratios, financial markets
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Q1. Tell me about yourself
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Q1. Tell me how can you build your Portfolio and points which needs to be considered while building your portfolio
Ans. 
Building a portfolio involves diversifying investments to manage risk and achieve financial goals.
• Determine investment goals and risk tolerance

• Allocate assets across different asset classes (stocks, bonds, real estate, etc.)

• Regularly review and rebalance the portfolio

• Consider factors like time horizon, liquidity needs, and tax implications

• Monitor market trends and economic conditions
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Q2. What is the keypoints for budget
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Key points for budget include setting financial goals, tracking expenses, creating a realistic plan, and adjusting as needed.
• Setting financial goals to determine the purpose of the budget

• Tracking expenses to understand where money is being spent

• Creating a realistic plan based on income and expenses

• Adjusting the budget as needed to account for changes in income or expenses
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Q1. Tell me about yourself
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Q2. Tell me about your Work experience
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General to overall

Q1. What are your salary expectations?
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Q1. Can you tell me about yourself?
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Q2. Are you comfortable working night shifts?
Ans. 
Yes, I am comfortable working night shifts as I have prior experience and can adapt to different schedules.
• I have previous experience working night shifts in my previous job.

• I am able to adapt to different schedules and have no issues with working during the night.

• I understand the importance of maintaining accuracy and focus during night shifts.

• I am willing to work night shifts if required to meet deadlines or client n
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Q1. Golden rule of accounting?
Ans. 
The golden rule of accounting states that debit what comes in and credit what goes out.
• Debit what comes in and credit what goes out

• Assets = Liabilities + Equity

• Helps maintain the balance in financial statements
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Q2. What are the journal entries for purchases?
Ans. 
Journal entries for purchases involve debiting the inventory account and crediting the accounts payable or cash account.
• Debit the inventory account to record the increase in inventory due to the purchase

• Credit the accounts payable account if the purchase was made on credit

• Credit the cash account if the purchase was made with cash

• Example: Debit Inventory $1,000, Credit Accounts Payable $1,000
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Q3. What is the process of bank reconciliation?
Ans. 
Bank reconciliation is the process of comparing the balances in a company's accounting records to the balances on its bank statement.
• Gather bank statements and accounting records

• Compare deposits and withdrawals between the two

• Identify and investigate any discrepancies

• Adjust the accounting records to match the bank statement

• Prepare a bank reconciliation statement to document the process
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Q1. What are your salary expectations?
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Q1. About your self
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Q2. Process Explanation of previous experience
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Q1. Journal Entries
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Q2. P2P, Bank Reconciliation, RTR
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Q3. Previous Process Explanation
Ans. 
I will explain the previous process I followed in my accounting role.
• I maintained accurate financial records by recording transactions in the general ledger.

• I prepared financial statements such as balance sheets and income statements.

• I reconciled bank statements and ensured all accounts were balanced.

• I communicated with clients and vendors to resolve any discrepancies or issues.

• I followed company policies and procedure
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Q1. Meaning of Rules of accounting
Ans. 
Rules of accounting are guidelines and principles that govern the preparation of financial statements.
• Rules of accounting ensure consistency and accuracy in financial reporting

• They help in standardizing financial statements for comparability

• Examples include the matching principle, revenue recognition principle, and historical cost principle
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Q2. Accounting standard s
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