Accounts Head

Accounts Head Interview Questions and Answers

Updated 12 Mar 2025
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Q1. Bank reconciliation how to handle Finance outstanding how to simplify Stock Audit experience How to revenue increase GST related Provision entry how to make Salary advance how to monitor Month end work related...

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Q2. Are you well versed with Consolidation of annuàl accounts

Ans.

Yes, I am well versed with the consolidation of annual accounts.

  • I have extensive experience in consolidating annual accounts for multiple companies.

  • I am familiar with the accounting principles and standards related to consolidation.

  • I have successfully completed consolidation projects in my previous roles.

  • I am proficient in using consolidation software and tools.

  • I have a strong understanding of intercompany transactions and eliminations.

  • I can prepare consolidated financial sta...read more

Q3. over controls on cash & funds management.

Ans.

Effective controls on cash & funds management are crucial for financial stability.

  • Establish clear policies and procedures for cash handling and disbursement.

  • Segregate duties to prevent fraud and errors.

  • Implement regular audits and reconciliations.

  • Use technology to automate processes and enhance transparency.

  • Train staff on proper cash handling and fraud prevention techniques.

  • Monitor cash flow and maintain adequate reserves.

  • Establish relationships with reputable financial insti...read more

Q4. Current TDS rate, IFRS, NEW RBI GUIDELINES FOR NBFC

Ans.

The current TDS rate is 10%, IFRS is a set of accounting standards, and new RBI guidelines for NBFC focus on capital adequacy and risk management.

  • The current TDS rate is 10% for most payments made to residents.

  • IFRS stands for International Financial Reporting Standards and is a set of accounting standards used globally.

  • The new RBI guidelines for NBFC focus on capital adequacy and risk management, including requirements for maintaining a minimum capital ratio and implementing ...read more

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Q5. How can you convert volt into watt?

Ans.

Volt can be converted into watt by multiplying the voltage by the current.

  • To convert volt into watt, you need to know the current flowing through the circuit.

  • The formula to convert volt into watt is: Watt = Volt x Ampere.

  • For example, if the voltage is 12V and the current is 2A, the power consumption in watts would be 24W.

Q6. What device is used to measure volt?

Ans.

A voltmeter is used to measure voltage.

  • A voltmeter is a device used to measure the electrical potential difference between two points in an electrical circuit.

  • It is typically connected in parallel to the circuit being measured.

  • Voltmeters can be analog or digital, with digital voltmeters providing a numerical readout of the voltage.

  • Examples of voltmeter brands include Fluke, Agilent, and Tektronix.

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Q7. Profit and loss Report to Management

Ans.

A Profit and Loss Report summarizes a company's revenues and expenses, guiding management in financial decision-making.

  • Provides a clear overview of revenue streams, e.g., product sales, service income.

  • Highlights expenses, such as operational costs, salaries, and marketing expenses.

  • Calculates net profit or loss, indicating financial health, e.g., a net profit of $50,000.

  • Compares current performance with previous periods to identify trends.

  • Assists in budgeting and forecasting f...read more

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