XL India Business Services Senior Finance Associate Interview Questions, Process, and Tips

Q1. Explain IND AS of PPE? Explain Prov for DD?
Ans. 
IND AS of PPE refers to the accounting standards for Property, Plant and Equipment in India. Provision for DD refers to the provision made for Due Diligence.
• IND AS of PPE lays down the guidelines for recognition, measurement, depreciation, and disclosure of PPE in financial statements.

• It requires entities to recognize PPE at cost, which includes all expenditures incurred to bring the asset to its working condition.

• Prov...read more
Answered by AI
Add your answer
Q2. What do you mean by Goodwill.
Add your answer

Q1. What are options
Add your answer

1 hour and topics accounting

Q1. Questions on regulatory reporting
Add your answer

Q1. Where do you see your self in 5 years
Add your answer

Q1. Why do you want this role
Add your answer

Q1. What is lease accounting
Ans. 
Lease accounting refers to the accounting treatment of lease agreements by lessees and lessors.
• Lease accounting involves recognizing lease assets and liabilities on the balance sheet.

• There are two main types of leases: operating leases and finance leases.

• Under operating leases, lease payments are expensed over the lease term.

• Under finance leases, the lessee recognizes both an asset and a liability on the balance sheet.

• ...read more
Answered by AI
Add your answer
Q2. What is prepayment
Ans. 
Prepayment is the payment of a debt before it is due.
• Prepayment is the act of paying off a loan or debt before the scheduled due date.

• It can help save on interest costs by reducing the overall amount owed.

• Common examples include making extra mortgage payments or paying off a car loan early.
Answered by AI
Add your answer
Q3. IFRS for lease accounting
Ans. 
IFRS 16 is the new lease accounting standard that requires lessees to recognize most leases on their balance sheets.
• IFRS 16 eliminates the distinction between operating and finance leases for lessees, requiring them to recognize all leases on their balance sheets as liabilities with corresponding assets.

• Lessees must calculate the present value of lease payments and recognize a right-of-use asset and lease liability on ...read more
Answered by AI
Add your answer
Q4. Case study on deferral and prepaid concept
Add your answer

Q1. Discussion on package
Add your answer

Q1. Tell me about yourself and previous company details
Add your answer

Q1. Questions related to knowledge in US mortgage and communication skillls
Add your answer
Q2. What is Forward mortgage
Ans. 
A forward mortgage is a type of mortgage where the borrower receives the entire loan amount upfront and makes regular payments towards the loan over time.
• Borrower receives the full loan amount at the beginning of the loan term

• Regular payments are made towards the loan, typically including both principal and interest

• Interest rates for forward mortgages can be fixed or adjustable

• Common type of mortgage for purchasing a h
Answered by AI
Add your answer
Q3. WhatI reverse mortgage
Ans. 
A reverse mortgage is a type of loan for homeowners age 62 and older that allows them to convert part of the equity in their homes into cash.
• Reverse mortgage borrowers do not have to repay the loan until they sell the home, move out, or pass away.

• The loan amount is based on the value of the home, the borrower's age, and current interest rates.

• Interest on a reverse mortgage is not tax-deductible until the loan is paid o...read more
Answered by AI
Add your answer