Accounting and Finance Executive Interview Questions and Answers

Explanation of journal entries for borrowing costs as per IAS 16.

• Borrowing costs include interest on bank loans, overdrafts, and other short-term and long-term borrowings.

• Borrowing costs that are directly attributable to the acquisition, construction, or production of a qualifying asset are capitalized.

• The capitalized borrowing costs are added to the cost of the asset and depreciated over the useful life of the asset.

• The journal entry for capitalized borrowing costs includes ...read more

I have extensive experience in accounting and finance, including managing budgets, preparing financial statements, and analyzing financial data.

• Managed budgets for multiple departments

• Prepared monthly financial statements for executive team

• Analyzed financial data to identify cost-saving opportunities

• Implemented new accounting software to streamline processes

• Collaborated with auditors during annual audits