Viveja IT Services Private Limited Accounts Manager Interview Questions and Answers

Q1. Can you tell me about yourself?
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Q2. Are you comfortable working night shifts?
Ans. 
Yes, I am comfortable working night shifts as I have prior experience and can adapt to different schedules.
• I have previous experience working night shifts in my previous job.

• I am able to adapt to different schedules and have no issues with working during the night.

• I understand the importance of maintaining accuracy and focus during night shifts.

• I am willing to work night shifts if required to meet deadlines or client n
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Q1. Golden rule of accounting?
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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 statements
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Q2. What are the journal entries for purchases?
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Journal entries for purchases involve debiting the inventory account and crediting the accounts payable or cash account.
• Debit the inventory account to record the increase in inventory due to the purchase

• Credit the accounts payable account if the purchase was made on credit

• Credit the cash account if the purchase was made with cash

• Example: Debit Inventory $1,000, Credit Accounts Payable $1,000
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Q3. What is the process of bank reconciliation?
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Bank reconciliation is the process of comparing the balances in a company's accounting records to the balances on its bank statement.
• Gather bank statements and accounting records

• Compare deposits and withdrawals between the two

• Identify and investigate any discrepancies

• Adjust the accounting records to match the bank statement

• Prepare a bank reconciliation statement to document the process
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Q1. What are your salary expectations?
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Q1. About your self
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Q2. Process Explanation of previous experience
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Q1. Journal Entries
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Q2. P2P, Bank Reconciliation, RTR
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Q3. Previous Process Explanation
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I will explain the previous process I followed in my accounting role.
• I maintained accurate financial records by recording transactions in the general ledger.

• I prepared financial statements such as balance sheets and income statements.

• I reconciled bank statements and ensured all accounts were balanced.

• I communicated with clients and vendors to resolve any discrepancies or issues.

• I followed company policies and procedure
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Q1. Meaning of Rules of accounting
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Rules of accounting are guidelines and principles that govern the preparation of financial statements.
• Rules of accounting ensure consistency and accuracy in financial reporting

• They help in standardizing financial statements for comparability

• Examples include the matching principle, revenue recognition principle, and historical cost principle
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Q2. Accounting standard s
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Q1. What is accrual
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Accrual refers to the recognition of revenue 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 a service is performed, even if payment is not received yet
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Q2. What is golden rules
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Golden rules are basic principles of accounting that serve as the foundation for recording financial transactions.
• Golden rules include the principles of Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; and Debit expenses and losses, Credit income and gains.

• These rules help ensure accurate and consistent recording of financial transactions in accounting.

• For example, when a business receiv...read more
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Q3. Prepaid expenses journal entry
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Q1. Tell me about yourself
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Q2. Tell me about your Work experience
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General to overall

Q1. What are your salary expectations?
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Q1. What is dependency injection
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Dependency injection is a design pattern in which components are given their dependencies rather than creating them internally.
• Dependency injection helps in achieving loose coupling between classes.

• It allows for easier testing by providing a way to mock dependencies.

• There are three types of dependency injection - constructor injection, setter injection, and interface injection.
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Q1. Explain solid principles
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SOLID principles are a set of five design principles that help make software more maintainable, flexible, and scalable.
• Single Responsibility Principle (SRP) - a class should have only one reason to change

• Open/Closed Principle (OCP) - classes should be open for extension but closed for modification

• Liskov Substitution Principle (LSP) - objects of a superclass should be replaceable with objects of its subclasses without a...read more
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