Finance Controllership Domain -
- Frequently Asked Technical Interview Questions

Average CTC: 8 to 13 LPA (approx.)

Technical Questions :

• What is window dressing?
• How do you evaluate a project?- NPV/ IRR
• How do companies inflate sales?
• Ind As 102 (share-based payment): how you will record the share-based payment in books, and what other implications of shared-based payment would be possible ..?
• Ind As 19(Employee Benefit)
• Ind AS 40: Definition of Investment Property
• Ind AS 16: What is the Deemed cost exemption as per Ind AS 16?
• IND AS 16: What is the concept of Component accounting as per Ind AS 16? Why Component Accounting is used?
• Ind As 2: How Inventory is valued as per Ind AS 2?
• Ind AS 115: What is the 5-step model of recognizing Revenue as per Ind AS 115?
• Ind AS 115: What is the treatment of volume-based discount as per Ind AS 115?
• Ind AS 115: What are the conditions of recognizing revenue over Point in time and Satisfied over time?
• Ind AS 109: What will be the treatment of Dividends when equity is valued under FVTOCI as per Ind AS 109
• Ind As 109: How Equity/Financial Asset is valued under Ind As 109?
• A major difference between Ind AS 115 vs AS 9. (Just mention 2/3 points).
• A major difference between Ind AS 116 vs Ind AS 17. (Just mention 2/3 points).
• Ind AS 12: What is Deferred Tax Asset/Deferred Tax Liability, Journal entries for the same as per Ind as 12?
• What is the difference between fair value and revaluation?
• Whether mobilization advance is a financial asset?
• How to measure investment property in SFS and CFS?
• What is the substantial period under Ind As for capitalizing borrowing cost w.r.t qualifying assets?
• Which is your favorite Ind AS, explain that and why it is your favorite.
• Can LLP be a subsidiary under Ind AS?
• How to control has been defined under Ind As 103. Explain by giving examples.
• Deferred tax liability is current or noncurrent in nature..?
• What is the difference between a finance lease and an operating lease under Ind AS 116?
• What is a currency swap, or interest rate swap?
• What is Going Concerned?
• What is the first step of taking a loan?
• What is the journal entry for 1. import of services and goods 2. for TDS and TCS - at the time of recognizing it in books and at payment 3. Prepaid expense and outstanding expense
• How to make any reconciliation statement?
• What is deferred revenue?
• What are the changes introduced in Ind AS, tell any 5 major changes of 5 important Ind AS.
• How to consolidate a subsidiary while preparing a consolidated financial statement?
• Tell me about 5 step model of revenue recognition under Ind AS 115.
• What does the Inventory Turnover Ratio shows?
• What is ROE?
• What is the net worth of the company?
• What is the operating cycle or cash conversion cycle?
• What is the difference between EBIT and EBIDTA? Can EBIT be greater than EBIDTA?
• What are NIFTY and SENSEX?
• What are EPS and Diluted EPS?
• Explain valuation and techniques.
• What is financial risk management?
• What are SLR, CRR, REPO, Reverse Repo, and rates?
• Difference between broad money and narrow money.
• Explain dividend models.
• What is a sin tax?
• What is STT?
• What is deferred tax liability and asset?
• Explain cash equivalents.
• Difference between Depreciation, Depletion, and Amortization.
• What has accumulated depreciation?
• Explain the Effective tax rate.
• What are free cash flows?
• Profitability and valuation ratios.
• Difference between solvency and liquidity.
• Difference between an operating lease and a financial lease.
• What is asset acquisition?
• Explain the leverage ratio and solvency ratio.
• Difference between current ratio and quick ratio.
• What is working capital and what is net working capital?
• Components of cash flow Statement.
• What is goodwill?
• How to calculate goodwill?
• What is contingent liability?
• What is NPA?
• What are REITs?
• What is the book value of a business?
• What is financial modeling?
• What is the difference between private equity and venture capital?
• Which is cheaper debt or equity?
• How RTGS is different from NEFT?
• What is the difference between accounts payable and accounts receivable?
• What are accruals?
• What are prepaid expenses?
• What is principles of accounting?
• What are the accounting concepts?
• What is deferred revenue?
• What is impairment of an asset? How is it treated in accounting?
• What accounting policies are used for segment reporting?
• Difference between Budgeting and Forecasting.
• Conventions of accounting.
• Difference between operating Lease and Finance Lease.

• What is Window Dressing?
• How do you evaluate a project? – NPV or IRR
• How do Companies Inflate sales?
• Ind AS 102 (Share-Based Payment): how you will record the share-based payment in books, what other
• implications of share-based payment would be possible?
• Ind AS 40(Investment Property): Definition of Investment Property?
• What is deemed cost exemption as per Ind AS 16?
• What is the concept of component accounting as per Ind AS 16? Why is it used?
• How Inventory is valued as per Ind AS 2?
• What is the 5-step model of recognizing revenue as per Ind AS 115?
• What is a treatment of volume-based discount as per Ind AS 115?
• What are the conditions of recognizing revenue over point in time and satisfied over time?
• How Equity/Financial Asset is valued under Ind AS 109?
• Major differences between Ind AS 116 and Ind AS 17? (Very Important)
• What are Deferred Tax Assets and Deferred Tax Liabilities? (Very Important)
• How would you perform a comparative analysis of the Income and expenditure?
• Impact of recent GST amendment regarding ITC in Cash Flow and Working Capital of Companies? (Suggested by Mentors)
• Measures one would take to identify revenue leakages and curtail it if any?
• Explain two differences between IFRS and US GAAP accounting principles.