Janaswamy Associates Interview Questions and Answers

Good, based on accounting and taxation

Q1. Indian basic taxation
Add your answer

Q1. Various types of valuations
Ans. 
Valuations can be of various types depending on the purpose and method used.
• Asset-based valuation

• Market-based valuation

• Income-based valuation

• Liquidation valuation

• Replacement cost valuation
Answered by AI
Add your answer
Q2. Equity vs enterprise value
Ans. 
Equity represents ownership in a company, while enterprise value represents the total value of a company.
• Equity is the residual interest in the assets of a company after liabilities are paid off

• Enterprise value is the sum of equity, debt, minority interest, and preferred stock minus cash and cash equivalents

• Equity is used to calculate metrics such as return on equity and price-to-book ratio

• Enterprise value is used to c...read more
Answered by AI
Add your answer
Q3. Comparable company analysis vs comparable transaction analysis
Ans. 
Comparable company analysis compares multiples of similar public companies while comparable transaction analysis compares multiples of similar M&A deals.
• Comparable company analysis is based on multiples of similar public companies

• Comparable transaction analysis is based on multiples of similar M&A deals

• Comparable company analysis is more commonly used

• Comparable transaction analysis is more accurate but harder to find d...read more
Answered by AI
Add your answer

Q1. P2P process and risk at each step.
Ans. 
P2P process involves requisition, approval, purchase order, goods receipt, invoice receipt, and payment.
• Requisition: Request for goods or services

• Approval: Authorization of the requisition by appropriate personnel

• Purchase Order: Formal document to the supplier specifying the details of the purchase

• Goods Receipt: Verification of goods received matching the purchase order

• Invoice Receipt: Receipt of invoice from the suppl...read more
Answered by AI
Add your answer
Q2. Major observations or risk identified in your internal audit experience.
Ans. 
Key risks identified in internal audit experience
• Lack of segregation of duties leading to potential fraud

• Inadequate controls over financial reporting

• Insufficient IT security measures

• Non-compliance with regulations and policies

• Weaknesses in inventory management
Answered by AI
Add your answer
Q3. How to identified ghost employees?
Ans. 
Ghost employees can be identified by cross-referencing payroll records with HR records and conducting regular audits.
• Cross-reference payroll records with HR records to identify discrepancies

• Conduct regular audits of employee information and payroll to detect any anomalies

• Implement strong internal controls and segregation of duties to prevent ghost employees

• Use biometric verification or time-tracking systems to ensure e...read more
Answered by AI
Add your answer
Q4. What procedure can you perform from PO dump?
Add your answer

Q1. Some personal questions.
Add your answer

Q1. Describe each step of P2P Process with risk at each step.
Ans. 
P2P Process involves requisition, approval, purchase order, goods receipt, invoice verification, and payment.
• Requisition: Risk of incorrect or unauthorized requests leading to unnecessary purchases.

• Approval: Risk of delays or errors in approval process causing delays in procurement.

• Purchase Order: Risk of incorrect details or unauthorized purchases being made.

• Goods Receipt: Risk of receiving damaged or incorrect goods,...read more
Answered by AI
Add your answer
Q2. What is ghost employee and how can we identify ghost employee?
Ans. 
A ghost employee is a fictitious employee created by someone to embezzle funds from a company.
• Ghost employees may have fake identities and bank accounts.

• They may receive paychecks without actually working for the company.

• To identify ghost employees, cross-check employee records with HR and payroll data.

• Look for discrepancies in employee attendance, performance, and salary payments.

• Conduct regular audits and reviews of ...read more
Answered by AI
Add your answer
Q3. What checks can you perform from PO dump?
Ans. 
Perform various checks on purchase order data dump
• Verify accuracy of vendor information

• Check for duplicate PO numbers

• Ensure correct pricing and quantities

• Validate delivery dates

• Confirm approval signatures
Answered by AI
Add your answer

Q1. Are you ok with travelling and late sitting?
Add your answer
Q2. We need you to join from next Monday.
Add your answer