Assistant Chartered Accountant Interview Questions and Answers

To work in chartered accountant, one must complete the necessary education and training, gain practical experience, and obtain the required certifications.

• Complete a bachelor's degree in accounting or a related field

• Enroll in a chartered accountant training program or pursue a professional qualification like ACCA, CPA, or CA

• Gain practical experience through internships or entry-level positions in accounting firms

• Pass the chartered accountant exams and obtain the necessary cer...read more

LGD (Loss Given Default) is the amount of money a lender loses when a borrower defaults on a loan.

• LGD is expressed as a percentage of the total exposure at default (EAD).

• It represents the portion of the loan that is not recovered after a borrower defaults.

• LGD can vary depending on the type of loan, collateral, and economic conditions.

• For example, if a borrower defaults on a $100,000 loan and the LGD is 50%, the lender would lose $50,000.

• LGD is an important factor in assessing...read more

IRR and NPV are financial metrics used to evaluate the profitability of an investment. IRR is the rate of return that makes the net present value of all cash flows equal to zero, while NPV is the difference between the present value of cash inflows and outflows.

• IRR is the rate at which the net present value of cash flows is zero.

• NPV is the difference between the present value of cash inflows and outflows.

• IRR helps in determining the potential return of an investment.

• NPV helps...read more

Deferred tax assets are future tax benefits that arise from overpayment or overprovision of taxes in current or previous periods.

• Deferred tax assets are recorded on the balance sheet when a company has paid more taxes than it owes, or has made provisions for taxes that are higher than the actual tax liability.

• They represent potential tax savings that can be realized in the future when the company's taxable income is higher than its accounting income.

• Examples of deferred tax a...read more