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Faas

This document provides a list of 17 interview questions for a FAAS position, focusing on topics related to accounting standards like revenue recognition, lease accounting, derivatives, and compound financial instruments under IndAS 115, 116, and other relevant standards. The questions ask about terms used in accounting, steps in revenue recognition, exemptions for lessees under IndAS 116, agent relationships under IndAS 115, rating one's knowledge of IndAS, achievements beyond passing the CA exam, accumulated depreciation, contract identification, lease accounting by lessors, and amendments to disclosure requirements.

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Abhishek Gupta
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992 views1 page

Faas

This document provides a list of 17 interview questions for a FAAS position, focusing on topics related to accounting standards like revenue recognition, lease accounting, derivatives, and compound financial instruments under IndAS 115, 116, and other relevant standards. The questions ask about terms used in accounting, steps in revenue recognition, exemptions for lessees under IndAS 116, agent relationships under IndAS 115, rating one's knowledge of IndAS, achievements beyond passing the CA exam, accumulated depreciation, contract identification, lease accounting by lessors, and amendments to disclosure requirements.

Uploaded by

Abhishek Gupta
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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FAAS Interview questions for preparation

1. Tell me about yourself


2. Reason for switching
3. Present organization roles and responsibilities
4. HOW you will manage late working hours?
5. Explain the following terms:
DTA
DTL
Subsidiary
Joint Venture
Associate
6. Five steps of Revenue Recognition
7. What are the exemptions Provided to Lessee as per Indas 116
8. Explain Agent principle relationship as per Indas 115
9. Rate yourself in Indas and the reason of rating.
10. Biggest achievement in you life other than passing CA exam.
11. What is accumulated Depreciation.
12. How do we know there is a contract in Indas 115 ?
13. How to recognize derivatives and embedded derivatives?
14. Lease Accounting in the books of Lessor as per Indas 116
15. Treatment of Compound financial instrument.
16. When PO is considered as satisfied in Indas 115?
17. Schedule III amendment- Disclosure of lease liability in balance sheet.

By Sweta Agrawal

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