10+ Gharda Chemicals Limited Interview Questions and Answers

Accrual and cash entries impact the balance sheet differently.

• Accrual entry records revenue or expenses that have been earned or incurred but not yet received or paid.

• Cash entry records the actual inflow or outflow of cash.

• Accrual entry affects the income statement and balance sheet, while cash entry only affects the balance sheet.

• Accrual entry increases or decreases both revenue and expenses on the income statement, which in turn affects the net income.

• Accrual entry also inc...read more

The 3 Golden Rules of Accounting are: 1. Personal Account - Debit the receiver, Credit the giver 2. Real Account - Debit what comes in, Credit what goes out 3. Nominal Account - Debit all expenses and losses, Credit all incomes and gains

• Personal Account: Debit - Receiver, Credit - Giver (e.g. Cash A/c Dr To Ram A/c)

• Real Account: Debit - What comes in, Credit - What goes out (e.g. Bank A/c Dr To Sales A/c)

• Nominal Account: Debit - Expenses/Losses, Credit - Incomes/Gains (e.g. R...read more

A master-feeder structure is a common investment structure in private equity funds. Blockers and feeders are two types of entities within this structure.

• A master-feeder structure is used to pool capital from different types of investors into a single investment vehicle.

• The master fund is the main investment vehicle that holds the assets and makes the investments.

• Feeder funds are separate entities that pool capital from specific types of investors, such as individuals or insti...read more

Accrual concept in accounting refers to recognizing revenues and expenses when they are incurred, regardless of when cash is exchanged.

• Accrual concept ensures that financial statements accurately reflect the financial position of a company.

• It involves recording revenues when they are earned and expenses when they are incurred, regardless of when cash is received or paid.

• For example, if a company provides services to a client in December but does not receive payment until Janu...read more

The footnotes section of an investment report provides information on the levels of investment.

• The footnotes section typically includes details on the types and amounts of investments made.

• It may provide information on the allocation of funds across different asset classes or sectors.

• Footnotes can also disclose any significant changes in investment strategies or portfolio composition.

• Examples of footnotes could include details on investments in specific companies, industries,...read more

The golden rule of journal entries is to debit the receiver and credit the giver.

• Debit the receiver account

• Credit the giver account

• Maintain the accounting equation (Assets = Liabilities + Equity)

The day to day activities of a fund accountant involve maintaining financial records, reconciling transactions, preparing financial statements, and providing support to investors and auditors.

• Maintaining accurate financial records for the private equity fund

• Reconciling transactions and ensuring accuracy of investment data

• Preparing financial statements, including balance sheets, income statements, and cash flow statements

• Calculating and distributing investor capital calls and ...read more

PPM and LPA are legal documents used in private equity funds.

• PPM stands for Private Placement Memorandum, which is a legal document that provides detailed information about a private equity fund to potential investors.

• LPA stands for Limited Partnership Agreement, which is a legal document that outlines the terms and conditions of the partnership between the general partner and limited partners in a private equity fund.

• PPM focuses on providing information about the fund's inve...read more

Management fee is calculated as a percentage of assets under management.

• Management fee is typically calculated as a percentage of the total assets under management.

• The percentage can vary depending on the agreement between the fund manager and the client.

• For example, if the management fee is 2% and the total assets under management are $1 million, the fee would be $20,000.

The role of a Senior Quality Assurance Engineer 2 involves ensuring high-quality software products and processes, and the expected CTC depends on the company and location.

• Ensuring high-quality software products through testing and quality assurance processes

• Identifying and documenting software defects and working with development teams to resolve them

• Creating and executing test plans, test cases, and test scripts

• Collaborating with cross-functional teams to ensure product qual...read more