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Tom and Jim Chartered Accountants Practical Trainee Interview Questions and Answers
Tom and Jim Chartered Accountants Practical Trainee Interview Experiences
1 interview found
Anonymous
Selected
I was interviewed in Feb 2023.
(3 Questions)
- Q1. Explain About auditing
- Ans.
Auditing is the process of examining and verifying financial records to ensure accuracy and compliance with laws and regulations.
Auditing involves reviewing financial statements, records, and transactions
It is done to ensure accuracy, completeness, and compliance with laws and regulations
Auditors may also provide recommendations for improving financial processes and controls
Examples of audits include financial statemen
- Q2. ITC intelligibility under GST
- Ans.
ITC intelligibility under GST refers to the clarity and understanding of Input Tax Credit rules and regulations.
ITC can be claimed only on goods and services used for business purposes
ITC cannot be claimed on personal or exempted goods and services
ITC can be claimed only if the supplier has paid the tax to the government
ITC can be claimed only if the recipient has received the goods or services
ITC can be claimed only i...
- Q3. Blocked credit in GST
- Ans.
Blocked credit in GST refers to the situation where input tax credit cannot be utilized for payment of output tax liability.
Blocked credit includes taxes paid on goods or services used for personal consumption, goods lost, stolen or destroyed, and motor vehicles
Blocked credit can also occur when the supplier has not paid the tax to the government
Blocked credit can be claimed as a refund or carried forward to the next t...
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Selected
I was interviewed in Jul 2024.
(5 Questions)
- Q1. Service management related questions
- Q2. Incident management
- Q3. Problem management
- Q4. Change management
- Q5. Service request
Interview Preparation Tips
Anisruba Anisruba
I applied via Company Website and was interviewed in Sep 2023. There were 3 interview rounds.
(2 Questions)
- Q1. Tell me about yourself?
- Q2. Previous company experience and why do you quit the job?
(2 Questions)
- Q1. What are lease clauses?
- Ans.
Lease clauses are specific terms and conditions outlined in a lease agreement that dictate the rights and responsibilities of both the landlord and tenant.
Lease clauses can cover various aspects such as rent amount, lease duration, maintenance responsibilities, and restrictions on use of the property.
Examples of common lease clauses include security deposit requirements, pet policies, subletting rules, and renewal opti...
- Q2. What is lease option?
- Ans.
Lease option is a real estate agreement that allows a tenant to purchase the property at a later date.
Lease option gives the tenant the right, but not the obligation, to buy the property.
The terms of the purchase, including price and timeline, are typically agreed upon upfront.
During the lease period, the tenant pays rent as well as an additional fee for the option to purchase.
If the tenant decides not to exercise the ...
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Selected
I applied via Naukri.com and was interviewed in Oct 2023. There were 2 interview rounds.
(2 Questions)
- Q1. Why do you want to switch
- Q2. What are your salary expectations
Selected
I applied via Approached by Company and was interviewed before Dec 2023. There was 1 interview round.
(2 Questions)
- Q1. Do not remember - it was 20 years back
- Q2. Do not remember
Interview Preparation Tips
(2 Questions)
- Q1. What is PDM Link
- Ans.
PDM Link is a product data management software used to manage product development processes.
PDM Link helps in managing product data, including CAD files, BOMs, and engineering change orders.
It enables collaboration among teams and streamlines product development processes.
PDM Link also provides version control and ensures data integrity.
Examples of PDM Link software include Windchill PDM Link and Creo PDM Link.
- Q2. What is PLM technology
- Ans.
PLM technology stands for Product Lifecycle Management technology.
PLM technology is a software-based solution that helps manage the entire lifecycle of a product from ideation to disposal.
It helps in managing product data, processes, and people involved in the product development cycle.
PLM technology enables collaboration among different teams and departments involved in product development.
It helps in reducing time-to...
I applied via Recruitment Consulltant and was interviewed in Aug 2022. There were 2 interview rounds.
Deed registration, quarey generat, kmc Searching.
Interview Preparation Tips
- Legal law
I applied via LinkedIn
Interview Questionnaire
1 Question
- Q1. How will you manage to hire 500 resources for a new business transition
Interview Preparation Tips
Keep your introduction short and crisp covering your professional journey.
Listen to the questions first and then answer.
Maintain your composure and speak with clarity , do not speak too fast.
Always support your answers whereever especially when talking about achievements with logical data.
If in doubt clarify the question, no harm in asking rather than giving vague answer.
Ask questions to the interviewer about organization culture , hierarchy, team structure, three key things abou the role expectation which are pivotal for delivery.
I applied via Recruitment Consultant and was interviewed before Dec 2019. There was 1 interview round.
Interview Questionnaire
2 Questions
- Q1. How would you increase the revenue for the Practice
- Ans.
To increase revenue for the Practice, I would focus on expanding the client base, improving service offerings, and implementing effective marketing strategies.
Identify target market segments and develop targeted marketing campaigns
Enhance the practice's online presence through search engine optimization (SEO) and social media marketing
Offer additional services or packages to existing clients to increase their spending
C...
- Q2. Have you been responsible for the P&L of your practice; if yes, how would you achieve sustainable growth
Interview Preparation Tips
I applied via Walk-in and was interviewed before Apr 2022. There were 2 interview rounds.
(4 Questions)
- Q1. What is 3 golden rules of accounting
- Ans.
The 3 golden rules of accounting are: 1. Debit the receiver, credit the giver. 2. Debit what comes in, credit what goes out. 3. Debit expenses and losses, credit income and gains.
Rule 1: Debit the receiver, credit the giver. This means that when an asset is received, it is debited, and when a liability is given, it is credited.
Rule 2: Debit what comes in, credit what goes out. This means that when there is an inflow of...
- Q2. What is BRS and it uses
- Ans.
BRS stands for Business Requirement Specification. It is a document that outlines the requirements for a project or product.
BRS is used to clearly define the scope and objectives of a project or product
It helps to ensure that all stakeholders have a common understanding of the requirements
BRS can be used as a reference throughout the project to ensure that it stays on track
Examples of information included in a BRS are ...
- Q3. What is depreciation and it's types
- Ans.
Depreciation is the decrease in value of an asset over time due to wear and tear, obsolescence or other factors.
Depreciation is a non-cash expense that reduces the value of an asset on the balance sheet
There are three types of depreciation: straight-line, accelerated, and units of production
Straight-line depreciation is when the asset loses an equal amount of value each year
Accelerated depreciation is when the asset lo...
- Q4. What is Goods requisition
- Ans.
Goods requisition is the process of requesting and obtaining necessary items or materials for a particular purpose.
It involves identifying the required goods or materials
It involves submitting a request for the goods or materials
It involves obtaining the goods or materials once the request is approved
Examples include requisition of office supplies, equipment, or raw materials for production
Interview Preparation Tips
- Fundamentals
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