Sundaram Business Services Interview Questions, Process, and Tips for Experienced

1.Depreciation entry
2.trail balance correction
3.mail draft

Q1. General information
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Q2. About experience
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Q1. Book profit calculation
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Q2. Salary entry after certain deduction
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Salary entry after certain deduction
• Calculate the gross salary before deductions

• Deduct taxes, insurance, and any other applicable deductions

• Net salary is the final amount received by the employee
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Q1. Tell me about yourself
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Q1. Procedure for Incorporation of a company
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Incorporation of a company involves several steps such as choosing a business name, filing necessary documents, obtaining necessary licenses, etc.
• Choose a unique business name that complies with the naming guidelines of the jurisdiction.

• Prepare and file the necessary documents such as Articles of Incorporation with the relevant government authority.

• Obtain any required licenses or permits for the specific type of busine...read more
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Basic MCQ regarding accounts and costing with email writing test all done in paper

Q1. Tell me about yourself ?
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Q1. Tell me about yourself
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Q2. Do you know about GST
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GST stands for Goods and Services Tax, a value-added tax levied on most goods and services sold for domestic consumption.
• GST is a consumption tax that is imposed on the supply of goods and services in India.

• It replaced multiple indirect taxes like VAT, service tax, etc.

• GST has multiple slabs - 5%, 12%, 18%, and 28% - based on the type of goods or services.

• Input tax credit can be claimed under GST for taxes paid on inpu...read more
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Q3. What is capital gains
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Capital gains are profits that result from the sale of an asset, such as stocks, bonds, or real estate, and are subject to capital gains tax.
• Capital gains are the difference between the purchase price and the selling price of an asset.

• They can be short-term (held for one year or less) or long-term (held for more than one year).

• Capital gains are subject to capital gains tax, which varies depending on the holding period ...read more
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Q4. How do you treat depreciation
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Depreciation is the allocation of the cost of an asset over its useful life.
• Depreciation is a non-cash expense that reduces the value of an asset over time.

• It is used to reflect the wear and tear, obsolescence, or decrease in value of an asset.

• Common methods of depreciation include straight-line, double declining balance, and units of production.

• Depreciation expense is recorded on the income statement and accumulated d...read more
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General accounting and cost accounting questions were asked, Small or minor sums or problems were given

Q1. Tell me about yourself
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I am a highly motivated and experienced Senior Analyst with a strong background in data analysis and problem-solving.
• Over 5 years of experience in analyzing complex data sets

• Proficient in using statistical software such as SPSS and SAS

• Strong communication skills, able to present findings to stakeholders

• Proven track record of improving business processes through data-driven insights
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Q2. Why did you choose SBS
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I chose SBS for its reputation in the industry and opportunities for growth.
• Reputation in the industry for providing high-quality analysis and insights

• Opportunities for career growth and development

• Strong company culture and values aligned with my own

• Impressive track record of success and client satisfaction
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Q1. What do you mean by AR and AP ?
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AR stands for Accounts Receivable and AP stands for Accounts Payable.
• AR refers to money owed to a company by its customers for goods or services provided on credit.

• AP refers to money owed by a company to its suppliers for goods or services purchased on credit.

• AR is an asset on the balance sheet, while AP is a liability.

• Examples: AR - outstanding invoices from customers, AP - unpaid bills to suppliers.
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Q2. What is statment of accounts ?
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Statement of accounts is a summary of all financial transactions between a customer and a business over a specific period of time.
• It is a document that shows all transactions, including payments and charges, made by a customer with a business.

• It helps in tracking the financial status of a customer's account with a business.

• Statement of accounts is usually sent periodically, such as monthly or quarterly, to keep custome...read more
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Q3. How to book GST ?
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GST can be booked by recording the input and output taxes in the accounting system.
• Record input GST paid on purchases as an expense

• Record output GST collected on sales as revenue

• Ensure accurate classification of GST amounts for different tax rates

• Regularly reconcile GST amounts with tax returns

• Use accounting software to automate GST calculations and reporting
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