20+ Accounts Manager Interview Questions and Answers for Freshers

I managed to fill the form for my banking examination by carefully reading the instructions and double-checking my answers.

• I read the instructions thoroughly before starting to fill the form.

• I made sure to understand the format and structure of the form.

• I double-checked all my answers before submitting the form.

• I sought help from the bank staff if I had any doubts or questions.

• I kept a copy of the filled form for my reference.

GSTR 3B and 1 require detailed information for claiming RCM credit and receiving GST invoice and goods.

• GSTR 3B and 1 require detailed information on reverse charge mechanism (RCM) credit to be claimed.

• Both GSTR 3B and 1 require the receipt of GST invoice and goods for claiming credit.

• Claiming RCM credit involves reporting purchases from unregistered dealers in GSTR 3B and 1.

• Ensure accurate reporting of RCM transactions to claim credit correctly.

• Timely reconciliation of invoic...read more

Trade payables are shown as a liability on the balance sheet. Interest liability may accrue for delays in payment.

• Trade payables are recorded as a current liability on the balance sheet, representing amounts owed to suppliers for goods or services purchased on credit.

• Interest liability for delays in payment may arise if there are specific terms in the supplier contracts or agreements.

• The interest liability would be recorded as an additional expense on the income statement.

• For...read more

Profit and Loss account is a financial statement that shows a company's revenues, expenses, and net income or loss over a specific period.

• It is also known as an income statement.

• It shows the company's financial performance over a specific period.

• The revenue section includes sales, fees, and other income.

• The expense section includes cost of goods sold, salaries, rent, and other expenses.

• The net income or loss is calculated by subtracting expenses from revenue.

• It helps in deter...read more

A balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time.

• It provides a snapshot of a company's financial position

• Assets are listed first, followed by liabilities and equity

• The equation Assets = Liabilities + Equity must always balance

• It helps investors and creditors evaluate a company's financial health

• Examples of assets include cash, inventory, and property

• Examples of liabilities include loans, accounts payab...read more

APIs are sets of rules and protocols that allow different software applications to communicate with each other.

• APIs are used to define the methods for accessing and interacting with a software application or platform.

• They enable developers to access certain features or data from a service without needing to understand its internal workings.

• APIs can be used to integrate different systems, automate processes, and enhance functionality of applications.

• Examples of APIs include Go...read more

I have experience in analyzing and trading stocks, bonds, and derivatives.

• Analyzed market trends and made investment recommendations for clients

• Managed portfolios of high net worth individuals and institutional investors

• Traded equities, fixed income securities, and options on behalf of clients

• Developed and maintained relationships with clients and financial institutions

• Stayed up-to-date on market news and regulatory changes

Swiggy is a popular food delivery platform in India.

• Swiggy was founded in 2014 in Bangalore, India.

• It offers a wide range of restaurants and cuisines for users to choose from.

• Swiggy has a strong delivery network and quick delivery times.

• The platform also offers features like live tracking of orders and multiple payment options.

• Swiggy has expanded to several cities across India and has become a household name for food delivery.

A bank is a financial institution that accepts deposits from the public and creates credit.

• Banks provide various financial services such as loans, credit cards, and savings accounts.

• They also facilitate transactions such as wire transfers and issuing of checks.

• Banks earn profits by charging interest on loans and fees for their services.

• Examples of banks include JPMorgan Chase, Bank of America, and Wells Fargo.

Cash in hand refers to the physical currency or liquid assets readily available for immediate use.

• Represents actual cash available for transactions.

• Includes physical currency like notes and coins.

• Can also refer to funds in checking accounts that are easily accessible.

• Example: A business may have $5,000 cash in hand for daily operations.

I manage day to day customers by providing excellent customer service, addressing their needs promptly, and building strong relationships.

• Provide excellent customer service by being responsive and helpful

• Address customer needs promptly to ensure satisfaction

• Build strong relationships with customers to foster loyalty and repeat business

Making a transaction with a bank involves several steps, including account verification, transaction initiation, and confirmation.

• Identify the type of transaction: deposit, withdrawal, transfer.

• Gather necessary information: account numbers, amounts, and recipient details.

• Use online banking, mobile apps, or visit a bank branch to initiate the transaction.

• Confirm the transaction details before submission to avoid errors.

• Receive a confirmation receipt or notification for your re...read more

A balance sheet is a financial statement that summarizes a company's assets, liabilities, and equity at a specific point in time.

• Identify assets: List all current and non-current assets, e.g., cash, inventory, property.

• Identify liabilities: List all current and long-term liabilities, e.g., accounts payable, loans.

• Calculate equity: Equity = Assets - Liabilities, representing the owner's stake in the company.

• Ensure balance: The equation Assets = Liabilities + Equity must hold t...read more

A trial balance is a financial statement that lists all account balances to ensure total debits equal total credits.

• Purpose: To verify the accuracy of bookkeeping and ensure that debits equal credits.

• Structure: Consists of two columns - one for debits and one for credits.

• Example: If cash account shows $10,000 debit and accounts payable shows $10,000 credit, they balance.

• Frequency: Typically prepared at the end of an accounting period, such as monthly or annually.

• Errors: Helps...read more

Scrum is an agile framework for managing and completing complex projects.

• Scrum involves a team working together to achieve a common goal

• It emphasizes on iterative and incremental progress

• It involves daily stand-up meetings, sprint planning, sprint review, and retrospective meetings

• It uses product backlog, sprint backlog, and burndown charts to track progress

• It promotes transparency, inspection, and adaptation

This pen is not just a writing tool, but a stylish accessory that will make you stand out in any professional setting.

• This pen features a sleek design that exudes professionalism.

• The smooth ink flow ensures a flawless writing experience.

• Its durable construction guarantees long-lasting use.

• Perfect for signing important documents or taking notes in meetings.

• Comes in a variety of colors to suit your personal style.

A CASB book is a collection of financial records and transactions for managing accounts effectively.

• CASB stands for 'Client Account Statement Book', used for tracking client transactions.

• It helps in maintaining transparency between clients and account managers.

• Example: A CASB book may include details of deposits, withdrawals, and fees.

• It is essential for auditing and financial reporting purposes.

I do eat non-veg, as I enjoy a variety of flavors and nutritional benefits it offers in my diet.

• I enjoy chicken dishes, especially grilled chicken with herbs.

• Seafood is a favorite; I love shrimp and fish tacos.

• I appreciate the protein content in non-veg options, which supports my active lifestyle.

• Trying different cuisines, like Indian butter chicken or Italian seafood pasta, is always exciting.

Basic rules of Accounts include maintaining accurate records, following GAAP, and ensuring proper documentation.

• Maintain accurate records of all financial transactions

• Follow Generally Accepted Accounting Principles (GAAP)

• Ensure proper documentation for all transactions

• Separate personal and business finances

• Perform regular audits to ensure accuracy

• Maintain confidentiality of financial information

• Record transactions in a timely manner

• Reconcile accounts regularly