Common interview questions

1. Tell me about yourself?

This question is commonly asked by most interviewers. It is a simple question; however, as the first
one, it gains you more confidence and helps you create the first impression for the interviewers.
1. Answer structure:
Make a brief of your personal information: name, hometown, age and family status.
Education: state your main diplomas and certificates in relation to the job.
Experience: state 3 examples of your experience as you think the most suitable for the job.
Point out your strengths and weaknesses: This will help the employer assess you more clearly whether you
are suitable to the position. Also, describe 3 7 strengths on education, experiences, skills and abilities.

2.

Why are you leaving your last job?

Answer tips

Applying for a more challenging position.

Having a chance to work in a larger and more robust organization.
Opportunity to work in a more technologically advanced environment
Salary increase.
Applying for a more senior position.
Termination of contract (date).
Change of profession or area of expertise.
Further education.
Travel.

Give the best reason, do not mention too many.

Do not talk bad your last company, your boss or your colleague.
Do not emphasize the past; focus on the reasons and the answers towards your future. Clearly point
out your targets and career orientation.
If the company downsizes or stops doing business in certain field, give the reason and number
convincingly.

3. What experience do you have in this field?

List your relevant experiences and responsibilities of each of your work in the past.Then present 1 3
achievements and difficulties in each job. Synthesize what you learn from these experiences.

4. What are your greatest weakness?

a. Turn your strength into weakness.
I am a perfectionist, so I do not like to handle my work to others because they often get the work done
not as fast and qualified as I do.
This answer is only appropriate if you are a good employee, not a manager.

5. What is Tally accounting?

Tally is a financial accounting software package designed by tally solution mainly for
small scale business.
6. What is Bank Reconciliation?
Bank reconciliation statement statement which reconciles the bank balance as per the cash
book withbalance as per the pass book or bank statement by showing all causes of difference
between the two

7. What are the MIS reports and do you prepare it?

MIS is management information system. In addition, MIS report is reporting information of
reports like efficiency of wing or a department of a company.

8. What are the difference between Accounting & Auditing?

Accounting means recording of day today transaction whereas auditing means rechecking of
that transaction it is properly recorded or not

9. What is Service tax & Excise? How it will be charged?

Service Tax is a Indirect Tax which is levied on Service. The Service receiver will pay to the
service provider.
Excise Duty is also a form of Indirect Tax but this is imposed on Goods or manufacturing
Items.

10.Why accounting standards are necessary?

Accounting standards are necessary to promote high quality financial reporting. The
fundamental role of accounting is to communicate economic information
about businesses and other organization to various stakeholders including government,
investors, shareholders, suppliers, lenders, customers, and the public. These stakeholders
use such information to take decisions and to assess the stewardship of people appointed to
manage such organizations. If this information were not of a high quality standard, then the
stakeholders would be unable to take effective decisions that will benefit them. For example,
if a financial report were manipulated to show higher profits, investors would hold on to their
shares with the belief that the company is doing well.

11.What is diffirance of income tax act & company act depreciation?

In income tax act method of depriciation allowed in written down value method, while
company act allows both written down value method and straight line method of
depreciation

12.What are bills recivables?

Bills Receivable , in merchant accounts, are all promissory notes, bills of exchange, bonds,
and other evidences or securities which a merchant or trader holds, and which are payable to
him.

13.How to prepare finalization of accounts?

First, of all post all the journals in the ledger and then post in the trial balance and from that
prepare trading account and manufacturing account (if necessary) and profit and loss
account. And then prepare profit and loss adjustment account and with the help of the trial
balance prepare balance sheet and also show the profit under reserves after deducting the
previous year losses and show contingencies (if any) in the notes to accounts

14.How Payroll works?

While calculating salary, we should consider the following
1. upload attendance
2. LOP of employees
3.Increment
4.Deductions like TDS,PT,PF,ESI,etc