HR interview questions June 04 2015 03.

00PM At Mouzam and

Company

HR interview questions and answers for senior executives

1. Assuming that you are selected, what will be your strategy for next 60
days?
If I am selected for this position, Ill use my initial 60 days in understanding
my role carefully in terms of the contribution to the business and increasing
the overall profitability. Ill sit with my line manager and other juniors to
understand what has already been done and what its impact has been. From
there on, Ill formulate my strategy to growth in close conjunction with
managers and see that it is properly implemented.
2. How would you improve upon our product/ company?
Since Id be coming from an altogether new environment, I am bound to
possess a new perspective towards everything here including the company,
product, customers, environment, strategy etc. This will enable me to
constructively question things which anyone else here might not do. This will
help in improving the things and making the product & company better.
Having worked closely with product development team I understand how the
research for product development is carried out and how is customer
requirement analysed; Id be able to provide a value addition there too.
3. Dont you think, you are overqualified for this position?
You might feel that I possess more degrees than you require for this position.
But, I believe that I grow everyday when I talk to my staff, customers and
superiors. So, basically the learning process continues through out the life I
dont think I am over qualified.
4. I see, theres some gap in your work history. Why?

Yes, I was feeling exhausted after years of non-stop work. So, I decided to take a
break and spend some time with my family on a rejuvenating vacation. I am
happy to have returned fully recharged.
5. Can you tell us something about your previous boss?
All my bosses possessed some skills worth learning. I have always tried to learn
something new from them including my previous boss.
6. Is there anything that you do not like about your last or current job?
I was quite enthusiastic while joining my last job. Towards the end, the number
of challenges and opportunity to grow further started diminishing. A challenge
loving and growth oriented person like me doesnt enjoy this.
7. Have there been instances, when your decision was challenged by your
colleague or manager?
Yes, there have been many such instances. I like people who challenge my
decisions rather than following me blindly. This keeps me ensured that I am
surrounded by thinking brains rather than just a set of dumb followers.
When someone challenges your decisions, you are bound to rethink over it and
the chances of reaching the best option are brighter.
8. If you are allowed to change one thing about your last job, what would
it be?
I have been working at a senior level since last many years. These roles have
always needed me to make real time decisions. Sometimes the facts, figures
and other information in real time cases are not complete & still we have to
make a decision. In such cases, there exists a probability of making inaccurate
decisions.

9. How long can you commit to work with us?

I like new challenges and a chance to grow. As long I keeping getting these, I
dont think Ill need to switch over. Id like to believe that this relationship lasts
for many years. However, I havent set a time limit as such.

10. You seem to be drawing a good salary. Will you be OK in taking a

salary cut?
I believe that at one point of time in career salary becomes secondary and self
actualisation become more important. While taking up any new job, it will be
my priority to ensure that the work culture, chances to contribute and grow are
sufficient along with the money I am paid. I also believe that any good company
who cares about its employees ensures that they are paid well.

11. What is your expected salary?

I believe that an ideal salary for any position recognizes the ability, rewards the
performance and provides the employee an opportunity to indulge in his
hobbies and passions. I am sure that this company also takes care of these.
12. Would you like to ask us anything?
I would like to know about the career growth I can expect being with this
company. I am quite an ambitious person and this information will be helpful.

13. What according to you is sales promotion?

We can say that sales promotion is a cost effective technique by which an

organization can achieve its sales volume or the marketing objectives by
providing value added product and not just an ordinary product to the end
user or even the intermediaries. It is short term by nature and is suitable
enough for generating sales within a short span of time. Sales promotion
techniques are being increasingly used by retailing organizations some of which
include advertising, providing discounts and allowances or a 'buy one get one
free offer' etc.
14. What is advertising?

Advertising is a paid form of non-personal communication and promotion of

ideas, goods or services by a company which sponsors it. It is a part of the

promotion mix and is one of the most widely used forms of communication. On
account of its wider reach to the masses and greater influential power to
influence the masses, advertisements have been and are gaining immense
popularity as a suitable medium of expression of information about any
company's products and services. Celebrity endorsements, user testimonials
etc. are some of the commonly used tactics to advertise a company's products
and thereby increase sales volume rapidly.

15. What are the different types of product advertising?

a. Pioneer advertising: This is used in the starting phase of a product life
cycle .Eg. TATA Docomo which initially advertised as to why a person should
pay for the unused minutes, when talks may last for seconds.
b. Competitive advertisements: In the growth phase of the product life cycle, an
organisation may have different product lines , so to highlight the differences
between them, competitive advertisements are used.
c. Comparative advertisements: When the sales volume of a product starts to
decline, or competition is high,comparative advertisements are used. Pepsi and
Coca-cola used this type of advertising at one point of time.
16. What are the objectives of advertising?

There are many objectives of advertising. They are:

a. To create awareness about the product among the consumers.
b.To generate new or greater interest levels in a product of which the individual
may not have shown an interest before.

c. To inform more about the product to others.

d.To stimulate purchase habits among the buyers of the product.
e.To reinforce the product in the consumers' mind so that he gets reminded
about purchasing the product which he would otherwise not have purchased.
17. How do organisations deal with bad publicity?

Publicity may turn out to be positive or negative. Negative publicity can be dealt
with in the following ways:
a.Giving the correct information and clarifying any doubts if required through
press release, media interviews, advertising, websites etc.
b.Active involvement of the company's top management or spokesperson in
giving public statement or comment in the various media.
c.Redesigning a good publicity message to eliminate the ill effects of bad
publicity.
18. Explain Financial Accounting. What are its characteristic features?
Financial Accounting is the process in which business transactions are
recorded systematically in the various books of accounts maintained by the
organization in order to prepare financial statements. These financial
statements are basically of two types: First is Profitability Statement or Profit
and Loss Account and second is Balance Sheet.
Following are the characteristics features of Financial Accounting:
1) Monetary Transactions: In financial accounting only transactions in
monetary terms are considered. Transactions not expressed in monetary terms
do not find any place in financial accounting, howsoever important they may be
from business point of view.
2) Historical Nature: Financial accounting considers only those transactions
which are of historical nature i.e the transaction which have already taken
place. No futuristic transactions find any place in financial accounting,

howsoever important they may be from business point of view.

3) Legal Requirement: Financial accounting is a legal requirement. It is
necessary to maintain the financial accounting and prepare financial
statements there from. It is also obligatory to get these financial statements
audited.
19. Compare Financial Accounting and Cost Accounting.
1) Financial Accounting protects the interests of the outsiders dealing with the
organization e.g shareholders, creditors etc. Whereas reports of Cost
Accounting is used for the internal purpose by the management to enable the
same in discharging various functions in a proper manner.
2) Maintenance of Financial Accounting records and preparation of financial
statements is a legal requirement whereas Cost Accounting is not a legal
requirement.
3) Financial Accounting is concerned about the calculation of profits and state
of affairs of the organization as whole whereas Cost accounting deals in cost
ascertainment and calculation of profitability of the individual products,
departments etc.
4) Financial Accounting considers only transactions of historical financial
nature whereas Cost Accounting considers not only historical data but also
future events.
5) Financial Accounting reports are prepared in the standard formats in
accordance with GAAP whereas Cost accounting information is reported in
whatever form management wants
20. What are the various systems of Accounting? Explain them.
There are two systems of Accounting:
1) Cash System of Accounting: This system records only cash receipts and
payments. This system assumes that there are no credit transactions. In this
system of accounting, expenses are considered only when they are paid and
incomes are considered when they are actually received. This system is used by
the organizations which are established for non profit purpose. But this system
is considered to be defective in nature as it does not show the actual profits
earned and the current state of affairs of the organization.

2) Mercantile or Accrual System of Accounting: In this system, expenses and

incomes are considered during that period to which they pertain. This system
of accounting is considered to be ideal but it may result into unrealized profits
which might reflect in the books of the accounts on which the organization
have to pay taxes too. All the company forms of organization are legally required
to follow Mercantile or Accrual System of Accounting.
21. What are the important things to be remembered while preparing a
bank reconciliation statement?
While preparing a bank reconciliation statement following important points
need to be remembered:
* Bank Reconciliation Statement is prepared either by starting with the Bank
pass book balance or Cash book balance.
* If the balance of the Cash book is taken as a starting point then Cash book
balance is to be adjusted in accordance with the entries passed in the Bank
pass book and vice versa. For example: If the balance is taken as per the Cash
book then the following items will be added:
* Cheques issued but not presented for payment;
* Amount credited in Passbook but not in Cash book;
* Deposits made in the bank directly;
* Wrong credits given by bank;
* Interest credited in the Passbook.
22. What is cost accountancy? What are the objects of Cost Accountancy?
Cost accountancy is the application of costing and cost accounting principles,
methods and techniques to the science, art and practice of cost control and the
ascertainment of profitability as well as the presentation of information for the
purpose of managerial decision making.
23. What is capitalization? What is its importance?
Capitalization is a term which has different meanings in both financial and
accounting context. Capitalization in accounting means the cost to buy an
asset which is included in the price of the asset whereas in financial terms it is
the cost which is required to buy an asset which includes price of a particular
asset and it also include the retained earnings of a company with stock debt
and long term debt. There are two kinds of capitalization which are called as
Over-capitalization and another is called as Under-capitalization. Capitalization

is very import aspect in determining the value of the company in the market
which is based on the economic structure of the company. This aspect depends
on the previous records and economics of the company. This also shows a
particular behaviour of the companies structure and allows them to create a
plan to do the marketing.
24. What Are Your Strong Points?
Identifying your five strengths and matching them to the job is an important
step in preparing for your interview. Read through the description and identify
the key factors needed to do the job. Be sure to read between the lines. For
example:
Will interact with accounting, engineering and manufacturing
departments.
What will it take to perform this task? What kind of person is this company
looking for?

25. Why Should We Hire You?

"Because I'm a good fit for the position. I have what it takes to solve problems
and do the job." This is the best answer so far. Expand on this, and you've got
it.

26. Why are you interested in this job?

Is the candidate interested in your job or any job? Have they researched the
company and understood whats been mentioned throughout the interview?