TCS Process Associate Interview Questions, Process, and Tips

Q1. What is the difference between reserve and provision
Ans. 
Reserve is set aside for a specific purpose, while provision is set aside for a potential future expense.
• Reserve is a part of profits retained by a company for specific purposes, such as expansion or investment.

• Provision is an amount set aside to cover a potential future expense or liability, such as bad debts or legal claims.

• Reserve is not shown as an expense on the income statement, while provision is deducted as an ...read more
Answered by AI
Add your answer

Q1. What is the 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 transactions
Answered by AI
Add your answer

Q1. What do you mean by accrual
Ans. 
Accrual refers to the recognition of revenues and expenses when they are incurred, regardless of when cash is exchanged.
• Accrual accounting matches revenues with expenses in the same accounting period

• It provides a more accurate representation of a company's financial position

• Examples include recognizing revenue when services are provided, even if payment has not been received yet
Answered by AI
Add your answer

Q1. Tell me about yourself
Ans. 
I am a detail-oriented individual with strong analytical skills and a passion for process improvement.
• Graduated with a degree in Business Administration

• Completed internships in data analysis and process optimization

• Proficient in Microsoft Excel and data management tools

• Led a team project to streamline workflow processes and reduce errors by 20%
Answered by AI
Add your answer
Q2. Based on resume
Add your answer

Aptitude test involves reasoning, aptitude questions like time and distance, time and work, ratio and proportion.

Q1. Tell me about yourself and basic questions
Add your answer

Q1. Questions based on resume and some general knowledge questions
Add your answer

Q1. Questions based on resume and some general questions
Add your answer

Q1. What is KYC explain in detail
Ans. 
KYC stands for Know Your Customer, it is a process used by financial institutions to verify the identity of their clients.
• KYC is a regulatory requirement to prevent money laundering, terrorist financing, and other illegal activities.

• It involves collecting personal information such as name, address, date of birth, and identification documents.

• Financial institutions use KYC to assess the risk of doing business with a par...read more
Answered by AI
Add your answer
Q2. What is bank reconciliation
Ans. 
Bank reconciliation is the process of comparing a company's records with those of its bank to ensure they match.
• Bank reconciliation involves comparing the company's internal financial records with the bank statement to identify any discrepancies.

• It helps in ensuring that all transactions are recorded accurately and that the company's financial statements are reliable.

• Common reasons for discrepancies include outstanding...read more
Answered by AI
Add your answer