ZS Business Associate Interview Questions and Answers for Freshers

Articleship experience is essential for gaining practical knowledge and skills in the field of consulting.

• Articleship provides hands-on experience in real-world scenarios.

• It helps in understanding the practical application of theoretical knowledge.

• Working under experienced professionals enhances skills and knowledge.

• Articleship is a crucial step towards becoming a successful consultant.

Ind AS's are Indian Accounting Standards converged with IFRS.

• Ind AS's are applicable to certain classes of companies in India.

• They aim to bring transparency and comparability in financial reporting.

• Ind AS's have been adapted from IFRS with certain modifications.

• They cover various aspects of accounting such as revenue recognition, leases, financial instruments, etc.

To check if each FA is located severely, follow the FAR procedures.

• Refer to FAR Part 45 for definitions and identification of FAs

• Check the records of each FA to determine its location

• Ensure that the location of each FA is compliant with applicable regulations

• If any FA is found to be located severely, take appropriate corrective action

GST has replaced multiple indirect taxes with a single tax. Recent changes include simplified return filing and reduced rates for certain items.

• GST has replaced multiple indirect taxes like VAT, excise duty, service tax, etc.

• It has simplified the tax structure and reduced the cascading effect of taxes.

• Recent changes include the introduction of simplified return filing through GST Sahaj and GST Sugam.

• GST rates have been...read more