Finance and Accounting Interview Questions

 How do we calculate income tax?

 Do you think operating profit can be more than the gross profit?

 Can you describe how Private Banking works?

 Can you differentiate between current assets & fixed assets?

 What is the difference between revenue and profit?

 Do you invest in stock markets?

 For a big MNC, What documents are covered in the Financial Statement?

 Have you heard about investment banking?

 How do you record sundry allowances in accounts?

 How many different accounting standards are there?

 In which language was accountancy first established?

 Suppose you have a balance sheet of an SME company, how will you decide whether
to finance the company or not?

 Tell me something about double entry book keeping.

 Tell us about accounts and taxation.

 What are the different types of taxes?

 What is capital budgeting?

 What is the difference between book value and market value?

 What is finance?

 What is ICWA, balance sheet?

 What is Fixed Cost, Variable Cost and Break Even point?

 What is Income tax?

 What is Indirect tax?

 What is India's Foreign Exchange Reserve?

 What is Investment Banking?

 What is liquidity?

 What is Marginal Costing?

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 What is market capitalization?

 What is PE ratio?

 What is the difference between Options and Futures?

 Who invented Double Entry Book Keeping?

 What is the internal rate of return formulae

 What is the Net Present Value formula?

 What is the relation between income statement and balance sheet?

 What is the role of an auditor?

 What is turnover?

 What is value of firm?

 What is working capital account?

 Which accounting standard do we follow?

 Why is P&L account not known as profit and loss account?

 Why profit is shown on liability side of the balance sheet?

 How do you do breakeven analysis?

 How will you determine the discount rate?

 What is the full form of GAAP?

 What is direct tax?

 What is excise duty?

 What is the concept of Comparative Cost Advantage?

 Does dividend reduce profits?

 Does depreciation reduce profit?

 What is Current Ratio?

 What is the Ideal Current Ratio?

 What is Capital and Revenue Expenditure?

 Where does Goodwill appear in a Balance Sheet? Why?

 Can depreciation be on fixed assets only?

 As depreciation is to fixed assets, what is the same analogous to debtors?

 What is the fundamental accounting equation?

 What is statutory audit?

 Can you name some of the accounting firms?

 What is the difference between finance and accounts?

 What is the difference between shares and debentures?

 What do you mean by a private limited company?

 What do you mean by a listed company?

 What is 'Capital Reserve'?

 Explain the process of dissolution of a partnership firm?

 Why are some accounting systems called double accounting systems?

 What is a journal?

 What is the purpose of maintaining a subsidiary journal.

 What do you understand by Imprest amount in a petty cash book?

 What is a petty cash book?

 What is a bank reconciliation statement?

 What is weighted average cost of capital?

 What are the various methods of capital budgeting?

 What is the difference between a horizontal and vertical merger?

 What is the difference between an amalgamation and merger?

 Tell me something about nonperforming assets.

 What according to you is minority interest?

 What do you understand by Cost plus Contract?

 What do you think is the Escalation clause in contract costing?

 What according to you are the advantages of introducing a costing system in an
industrial organization?

 What is idle time and could you also explain its causes?

 Please comment on this "Limitations of financial accounting have made the

management realize the importance of cost accounting."

 What according to you is sunk cost?

 Could you differentiate between integral and non integral system of accounting?

 Essentially what is the difference between allocation and apportionment of

overheads?

 How would you treat scrap and defective items in cost accounts?

 What according to you is reconciliation of cost and financial accounts and why is it
necessary?

 What do you mean by issue of shares at premium? Also how else can you issue
shares?

 What are future maintainable profits?

 Could you discuss ABC analysis for material control?

 How is ‘bonus payable to employees’ treated in cost accounts?

 Could you tell me the difference between time keeping and time booking?

 Tell me about a situation when companies cannot issue shares on discount? What
exactly are the conditions for issue of shares at a discount?

 What according to you is the meaning of minimum subscription?

 What do you mean by rebate on bills discounted? Furthermore, how would you treat it
in the books of the bank?
 Comment on "Evolution of cost accounting is the outcome of deficiencies in the
financial accounting system."

 What according to you are the advantages of "Integrated Accounts"?

 "A company is an artificial person created by law with a perpetual succession and
common seal." Comment on the statement.