The Institute Of Chartered Accountants Accounts & Audit Assistant Interview Questions, Process, and Tips

Assignment Details are as Follows

-Sales Audit Tally with Documents Automation (Dropbox Official) & On-site by CA Suyash Sir for Past Credit Note Balancing on Investments

Q1. Tell me about yourself
Add your answer
Q2. What is Concurrent Sales Audit?
Ans. 
Concurrent Sales Audit is a process of auditing sales transactions in real-time to ensure accuracy and prevent fraud.
• Concurrent Sales Audit involves monitoring sales transactions as they occur to detect any discrepancies or irregularities.

• It helps in identifying potential errors, fraud, or theft in sales transactions before they escalate.

• This process can involve using software systems to track sales data in real-time a...read more
Answered by AI
Add your answer
Q3. What is a Cost Sheet?
Ans. 
A cost sheet is a document that shows the detailed breakdown of all costs incurred in the production of a product or service.
• Includes direct costs (e.g. raw materials, labor) and indirect costs (e.g. overhead)

• Helps in determining the total cost per unit of production

• Used for cost control and decision-making

• Example: A manufacturing company preparing a cost sheet to analyze the cost of producing a new product
Answered by AI
Add your answer
Q4. Three Golden Rules of Accounting?
Ans. 
The three golden rules of accounting are: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains.
• Debit the receiver, Credit the giver: When an asset or expense increases, it is debited. When a liability, equity, or revenue increases, it is credited.

• Debit what comes in, Credit what goes out: Debit the account that receives something and credit ...read more
Answered by AI
Add your answer
Q5. What do you Know about GST, Tally & Levy Accounting Standards?
Ans. 
GST is Goods and Services Tax, Tally is an accounting software, and Levy Accounting Standards refer to specific regulations for accounting practices.
• GST is a value-added tax levied on most goods and services sold for domestic consumption.

• Tally is a popular accounting software used for recording financial transactions and generating reports.

• Levy Accounting Standards are specific guidelines and regulations that companies...read more
Answered by AI
Add your answer
Q6. What would you like to ask about your further hiring process in the Concurrent Sales Audit Experience?
Add your answer