Interview Questions

Internal control, as defined in accounting and auditing, is a process for assuring achievement of an organization's objectives in operational effectiveness and efficiency, reliable financial reporting, and compliance with laws, regulations and policies. A broad concept, internal control involves everything that controls risks to an organization.

Internal control is all of the policies and procedures management uses to achieve the following goals.

• Safeguard University assets - well designed internal controls protect assets from accidental loss or loss from fraud.

• Ensure the reliability and integrity of financial information - Internal controls ensure that management has accurate, timely and complete information, including accounting records, in order to plan, monitor and report business operations.

• Ensure compliance - Internal controls help to ensure the University is in compliance with the many federal, state and local laws and regulations affecting the operations of our business.

• Promote efficient and effective operations - Internal controls provide an environment in which managers and staff can maximize the efficiency and effectiveness of their operations.

• Accomplishment of goals and objectives - Internal controls system provide a mechanism for management to monitor the achievement of operational goals and objectives.

Hence, Internal controls are concerned with safeguarding assets.

1. Processing Payroll to generate Paycheck and Pay Stubs

2. Generating Tax reports and vouchers using which Taxes are deposited to Govt (Employee Tax).

3. Processing reports that are handed over to Accounting Dept.

4. Ensuring that the Deductions, Benefits, Acruals, Taxes and Salaries are accurate (

5. Posting the Journals to Finance

6. Processing Govt Reports and submitted to Govt

7. Entering interims (may also be done by HR in some Companies)

7. Year End Process to generate W2s

Capital Adequacy Ratio (CAR) is also known as Capital to Risk (Weighted) Assets Ratio (CRAR), is the ratio of a bank's capital to its risk.

1. The capital adequacy ratio (CAR) is a measure of a bank's capital.

2. It is used to protect depositors and promote the stability and efficiency of financial systems around the world.

3. National regulators track a bank's CAR to ensure that it can absorb a reasonable amount of loss and complies with statutory Capital requirements.

Polymorphism is also achieved in C++ using virtual functions. If a function with same name exists in base as well as parent class, then the pointer to the base class would call the functions associated only with the base class. However, if the function is made virtual and the base pointer is initialized with the address of the derived class, then the function in the child class would be called.

You're just as choosy about finding the right job as the interviewer is about hiring the right candidate. Don't whine or show that the search is upsetting you. If you've already fielded an offer or two,you might say

        " I have had an offer.But the situatioin was not right for me. I'm especially glad that I didn't accept, because I now have a shot at landing this position."

It's important to tell the truth, however, because the interviewer's next logical questions may be the following:

who made you an offer? For what type of position? At what salary?

If you've already lied, you're in hot water now! some interviewers will consider any admission of lying in these circumstances your "voluntary" offer to end the interview!

Many interviewers know a great deal about their competitors and which positions they're trying to fill. If you did the smart thing and told the truth, feel free to name the company.

It's important to stress that the position you turned down was very similar to the one you're applying for now. After all, if the job you are currently interviewing for is perfect for you-as you've undoubtedly already told the interviewer three or four times - why would be at all interested in something very different at the other company? 

There will always be a default constructor in every class