Senior Accounts Executive

Senior Accounts Executive Interview Questions and Answers for Freshers

Updated 14 Jan 2025

Q1. What is GST due date, Do you have Experience in TDS, have you filled GSTR9 & GSTR9C individually etc.

Ans.

GST due date is 20th of the following month, TDS experience is required, GSTR9 & GSTR9C are annual returns.

GST due date is 20th of the following month for filing returns and payment.
Experience in TDS (Tax Deducted at Source) is necessary for the role.
GSTR9 is the annual return to be filed by regular taxpayers, while GSTR9C is the reconciliation statement to be filed by taxpayers with turnover above a certain limit.
Knowledge of GST compliance and deadlines is crucial for the S...read more

Q2. Rs. 100000 paid for subcontractor tell me jv entry Tell me your self

Ans.

The journal entry for Rs. 100000 paid to subcontractor involves debiting subcontractor expense and crediting cash/bank account.

Debit subcontractor expense account by Rs. 100000
Credit cash/bank account by Rs. 100000
Journal entry: Subcontractor Expense Dr 100000, Cash/Bank Cr 100000

Q3. What is Profit and Loss Statement?

Ans.

A Profit and Loss Statement is a financial report that summarizes a company's revenues, expenses, and profits over a specific period of time.

It shows the company's total revenue, total expenses, and net income or loss for a specific period, typically a month, quarter, or year.
Revenue includes sales, interest income, and other sources of income, while expenses include costs of goods sold, operating expenses, and taxes.
The net income is calculated by subtracting total expenses ...read more

Q4. Finantial Ratios, Any idea of SAP, IND AS 115

Ans.

Financial ratios are used to analyze a company's financial performance. SAP is an enterprise resource planning software. IND AS 115 is a new revenue recognition standard.

Financial ratios help assess a company's profitability, liquidity, efficiency, and solvency.
SAP is a widely used ERP software that integrates various business functions.
IND AS 115 is a new accounting standard that changes how revenue is recognized.
Understanding financial ratios can help in making informed bus...read more

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Q5. How about excel knowledge

Ans.

Proficient in Excel with advanced knowledge of formulas, functions, and data analysis.

Advanced knowledge of Excel formulas and functions
Experience with data analysis and reporting
Ability to create complex spreadsheets and financial models
Familiarity with pivot tables and VLOOKUP
Proficient in using Excel for budgeting and forecasting

Q6. What are Journal Entries

Ans.

Journal entries are accounting records that show the financial transactions of a business.

Journal entries are used to record the financial effects of business transactions.
They consist of debits and credits to different accounts in the general ledger.
Each journal entry must have an equal debit and credit amount to maintain the accounting equation (Assets = Liabilities + Equity).
For example, a journal entry to record a sale would include a debit to accounts receivable and a cr...read more

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Q7. What is cr and dr

Ans.

CR and DR stand for credit and debit, respectively, in accounting. They are used to record financial transactions in double-entry bookkeeping.

CR (credit) is used to record an increase in assets, liabilities, or equity accounts.
DR (debit) is used to record a decrease in assets, liabilities, or equity accounts.
CR is typically on the right side of the accounting equation, while DR is on the left side.
For example, when a company receives cash from a customer, the cash account is ...read more