Corporate Practice bd
Mastering Interview Tips and strategies (Part-03)
21. What do you mean Going concern?
The going concern concept is defined as the assumption that the enterprise will continue in operational existence in the foreseeable future. This means that the income statement and balance sheet assume no intention or necessity to liquidate
22.can you say Ratio analysis-like
|
SL NO. |
Criteria of Ratio |
Meaning |
|
01 |
Quick ratio or Acid test ratio |
(current assets – inventory) / current liabilities |
|
02 |
Return on Investment (ROI) |
Operating Profit /capital employed) *100 |
|
03 |
Inventory Turnover Ratio |
= Cost of Goods Sold / Average Inventory |
|
04 |
Total Debt ratio |
Total liabilities / Total assets |
|
05 |
Price-earnings ratio |
Share price / Earnings per share |
|
06 |
Earnings per share ratio |
Net earnings / Total shares outstanding |
23.Can you say some IAS?
IAS = 1 < Presentation of Financial Statements
IAS = 02 <Inventories
IAS = 16 <Property Plan & Equipment (PPE)
IAS = 7 < Statement of Cash flows
IAS = 37 <Provisions, Contingent liabilities, Contingent assets,
24.As per Bangladesh standard on Audits(BSA) say like-
|
SL NO. |
Criteria of BSA |
Meaning |
|
01 |
BSA -210 |
Terms of Audit Engagements |
|
02 |
BSA -230 |
Audit Documentation |
|
03 |
BSA -240 |
The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements |
|
04 |
BSA -300 |
Planning an Audit of Financial Statements |
|
05 |
BSA -320 |
Audit Materiality |
|
06 |
BSA -500 |
Audit Evidence |
|
07 |
BSA -540 |
Auditing of Accounting Estimates |
|
08 |
BSA -560 |
Subsequent Events |
|
09 |
BSA -570 |
Going Concern |
25.Mention some Accounting Software?
The best accounting software is:
|
SL NO. |
Criteria of software |
Name of Accounting software |
|
01 |
Accounting Software |
Fresh Books |
|
02 |
Accounting Software |
NetSuite ERP |
|
03 |
Accounting Software |
Quick book |
|
04 |
Accounting Software |
Xero |
|
05 |
Accounting Software |
Zoho Books |
|
06 |
Accounting Software |
CloudBook |
|
07 |
Accounting Software |
Sage 50cloud |
|
08 |
Accounting Software |
Tally ERP-9 |
26. can you say Mushake-like
|
SL NO. |
Criteria of Mushake |
Purposes |
|
01 |
Mushak-2.1 |
Registration form for VAT & Turnover Tax |
|
02 |
Mushak-2.3 |
Online VAT Registration |
|
03 |
Mushak-4.1 |
Return Advance VAT |
|
04 |
Mushak-4.3 |
Input-output Coefficient Declaration. |
|
05 |
Mushak-6.1 |
Purchase Register |
|
06 |
Mushak-6.2 |
Sales Register |
|
07 |
Mushak-6.2.1 |
Purchase & sales register |
|
08 |
Mushak-6.3 |
Vat challan Book (Three Page |
|
09 |
Mushak-6.9 |
Turnover Tax |
|
10 |
Mushak-6.10 |
Purchase & Sales Challan Under more than Two Lac Sales |
|
11 |
Mushak-9.1 |
Vat return (Must submit within 15 days for previous month |
|
12 |
Mushak-9.2 |
Turnover Tax return Form |
|
13 |
Mushak-18.6 |
Vat current Account Balance Adjustment |
27.Can you say some Abbreviation?
|
SL NO. |
Description |
Abbreviation |
|
01 |
C & F |
Clearing and forwarding. |
|
02 |
CIF |
Cost insurance and freight |
|
03 |
DAT |
Deleveraged at terminal. |
|
04 |
IP |
Import permit. |
|
05 |
F.T. T |
Foreign Telegraphic transfer. |
|
06 |
H.S Code |
Harmonized System code. |
|
07 |
PI |
Preformat invoice. |
|
08 |
B/E |
Bill of entry. |
|
09 |
EDF |
Exporter development fund. |
|
10 |
OBU |
Obshore banking unit. |
|
11 |
ERQ |
Exporter Retention Quota. |
|
12 |
NOC |
No objection certificate. |
|
13 |
FDD |
Foreign Demand Draft. |
|
14 |
SWIFT |
The society for worldwide interbank financial telecommunication. |
|
15 |
PAD |
Payment Against Documents |
|
16 |
PRC |
Proceed Realization certificate |
28.Can you say current Interest rate-like
|
SL NO. |
Criteria of Loan |
Rate of Interest |
|
01 |
IBP |
13.50% to 14% |
|
02 |
LTR+RTR+LIM+CChypo |
13.50% to 14% |
|
03 |
OBU |
8.9023% |
|
04 |
EDF(BB-3.50%+Br-4%) |
7.50% |
|
05 |
BAIM |
15.50% |
|
06 |
Penalty Interest |
2% Extra |
29.Can you name some common errors in accounting?
Ans.
01.Error of omission
02.Error of commission
03. Error of original entry
04. Error of accounting principle
05. Compensating error
06. Error of entry reversal
07. Error of duplication
30.Yarn Production Process Flow Chart:
(Step-01): Room (Bale RC+W.C) (Mixing unit)
(Step-02): Carding (Card Sliver Produce Unit)
(Step-03): Drawing (Drawn sliver)
(Step-04): Auto core/BD Rotor (Yarn Produce Unit)
(Finally): Packaging Unit for goods dispatches
31.Calculation Rotor+ Spinning Spindle:
ARML
Auto core + R-40 Machine (7*360 dram) = 2520 dram
Bd Rotor Machine (3*320 dram) = 960 dram
Total number of dram (ARML) = 3480 dram
ARSML
Bd Machin (5*320) = 1600 dram
Total dram(ARML+ARSML) (3480+1600) = 5080 dram/spindle
32.Exchange Rate (BDT) Apply for Per Unit of 1 Dollar by (SIBL):
|
Transaction Criteria |
Rate Apply By Bank |
Remarks |
|
IBP Purchase |
Usance Export Bill Buying Rate |
Export Bill Discounted/Purchase |
|
Final settlement Bill |
OD Sight Export Bill Rate |
Export Bill Realized |
|
Remittance in cash |
TT Clean Spot Buying Rate |
Remittance to be Bought |
|
RTGS Settlement |
116.80 |
In Occurrences |
|
Transfer in cash |
Spot Buying OD Transfer Rate |
In casements in USD |
|
Credit Card/Prepaid Card Bill |
Selling / Buying rate |
Cash note, Credit Card/Prepaid Card/Student File/Wages earners |
|
SOFR |
At sight days wise Rate |
In Occurrences |
|
Foreign Currency Selling |
TT & OD/B.C Rate |
Foreign Currency Selling |
|
|
|
|