Synmac Consultants Associate Executive Interview Questions and Answers

Q1. IND AS transition
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Q2. How to handle complex accounting
Ans. 
Best practices for handling complex accounting situations involve thorough research, clear communication, and attention to detail.
• Thoroughly research accounting standards and regulations related to the situation

• Communicate with relevant stakeholders to gather necessary information and ensure understanding

• Document all steps taken and decisions made to maintain a clear audit trail

• Seek guidance from experts or consultants...read more
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Q3. Team work and management
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Q1. Questions around Spark Optimizations and then few sql and python medium level questions.
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Q1. In-Depth Project Discussion and scenario based questions in Spark
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Q1. How would you identify a Finance Lease? (5 pointers)
Ans. 
A finance lease is a type of lease where the lessee has substantially all the risks and rewards of ownership.
• The lease term is for the major part of the economic life of the asset

• The present value of the minimum lease payments is equal to or more than the fair value of the asset

• The asset is expected to be used by the lessee for the major part of its economic life

• The lease agreement includes an option to purchase the as...read more
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Q2. How would you recognise revenue of Bundled services?
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Recognizing revenue of bundled services involves allocating the total revenue to each service based on their standalone selling prices.
• Identify the standalone selling prices of each service included in the bundle.

• Allocate the total revenue based on the relative fair value of each service.

• Recognize revenue for each service as it is delivered or as the customer consumes the service.

• Ensure that the revenue recognition com...read more
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Q1. Question from ESG framework
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Maths accountancy excel test

Q1. Basic accounting questions
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Q2. Formula of cogs
Ans. 
COGS stands for Cost of Goods Sold, and the formula to calculate it is Opening Inventory + Purchases - Closing Inventory.
• COGS = Opening Inventory + Purchases - Closing Inventory

• Opening Inventory: The value of inventory at the beginning of the accounting period

• Purchases: The cost of inventory purchased during the accounting period

• Closing Inventory: The value of inventory at the end of the accounting period

• Example: Openi...read more
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Q3. Bank reconciliation
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Q4. Trial balance related
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Q5. Accounting entries
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Q1. How you got to know about us?
Ans. 
Through a job search website
• Browsing job search websites

• Saw job posting on LinkedIn

• Referred by a friend who saw the job posting
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Q2. Tell something interesting about you
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I have traveled to over 20 countries and can speak 4 languages fluently.
• I love exploring new cultures and trying different cuisines

• I have lived in Europe, Asia, and North America

• I am fluent in English, Spanish, French, and Mandarin

• Traveling has broadened my perspective and enriched my life experiences
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Q3. Apart from self intro say something interesting about you?
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Basics MCQ's on preferred technical skill

Q1. Technical questions based on your resume
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Q2. What is SQL Joins Python
Ans. 
SQL is a language used for managing and querying databases. Joins are used to combine data from multiple tables. Python is a versatile programming language.
• SQL is a language for managing databases, used to retrieve and manipulate data.

• Joins are used in SQL to combine data from multiple tables based on a related column.

• Python is a high-level programming language known for its simplicity and readability.
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Q3. Linux , html, CSS
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Q4. What is primary key, unique key
Ans. 
Primary key uniquely identifies each record in a database table, while unique key ensures each value in a column is unique.
• Primary key is a column or a set of columns that uniquely identifies each record in a table

• Primary key does not allow NULL values and must be unique for each record

• Unique key ensures that each value in a column or a set of columns is unique

• Unique key can allow NULL values, but each non-NULL value m
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Q5. What is inheritance, polymorphism
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Inheritance is a mechanism in OOP where a new class inherits properties and behaviors from an existing class. Polymorphism allows objects of different classes to be treated as objects of a common superclass.
• Inheritance allows for code reusability and promotes the concept of 'is-a' relationship.

• Polymorphism allows for flexibility in code design and enables dynamic method binding.

• Example of inheritance: class Dog extends...read more
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Q1. Journal entries related to deferred revenue, accrual
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Q2. Journal entries related to recording of expenses and incomes
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