Shanthala Power Industrial Engineer Trainee Interview Questions and Answers

For a Capital Intensive company, you should always expect question from Assets, Depreciation and impairment. So Prepare that area well.

Q1. It was more related to Financial Reporting. How and what needs to be presented.
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Q2. What is CWIP and how it is reported in the financial statement?
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CWIP stands for Capital Work in Progress. It is reported in the financial statement as a separate line item under Fixed Assets.
• CWIP represents the cost of assets that are under construction or in the process of being installed.

• It includes expenses such as labor, materials, and overheads.

• Once the asset is completed, it is transferred to the appropriate fixed asset category.

• CWIP is reported in the balance sheet as a sepa...read more
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Q3. What is MAT and its reporting in Financial statement?
Ans. 
MAT is Minimum Alternate Tax which is a tax levied on companies that have zero or low tax liabilities.
• MAT is applicable to companies that have claimed deductions and exemptions, resulting in zero or low tax liabilities.

• MAT rate is 18.5% of book profits.

• MAT credit can be carried forward for up to 15 years.

• MAT reporting is done in the financial statement under the head 'Provisions and Contingencies'.
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