@abhishek4sonu said: Hi Guys, let me share my interview experience with all of u. It was for AO - FInance. Please comment, how it was.
ME -I asked, May i come in sir?
M1 - Aaiye.
When I entered, he said please have your seat. I said hank you and had my seat.
M1 - Abhishek, you are from Bihar?
Me - Yes sir.
M1 - From where have you done B. Com.?
Me - Patna University.
M1 - You have done MBA from mumbai university. Which institute?
Me - Name of my college
M1 - You are working with (Name of my co. ), what do you exactly do?
Me - Sir, before talking about my work profile, I would like to tell about the company which I m working for. It is a financial management consultancy which offers product & services like business planning, product costing, strategic implementation partner etc. I work as an associate consultant. I am working under project manager/engagement manager.
M1 - But what you exactly do in that role?
Me - Since all the projects are different, let me explain it with an example. For an assignment of project finance, everything starts with understanding of business model, then revenue recognition area and revenue forecasting, later on we understand the cost structure of the company and finally everything is drilled down to forecasted profit & loss a/c, balance sheet and cash flow. On the basis of forecasted financials, I prepare detailed project report which is sent to banks or financial institution for granting finance.
M1 - Do you have any further role in that?
Me - yes sir, Sometimes, I have to call banks or financial institutions and fix a meeting with client & my engagement manager.
M1 - Do you take part in discussion?
Me - Yes sir. since i work day to day on the project, i know each and every detail about the project. So if they discuss in detail, I take part in discussion and share the details with all of them.
M1 - Why do you want to come into insurance?
Me - I always had aim to get into public sector. When i completed graduation, I was not 21. So, i went for higher education which is MBA. I ended up working as an associate consultant. Insurance is an industry which is still completely virgin. It has only 5 % penetration. Growth in insurance sector is more than 10% which is amazing. It has everything to attract anyone in the industry.
M1 - Why NICL/NIACL?
Me - Nicl/Niacl is offering the job of corporate finance, correct me if I m wrong. It suits my education qualification as well as work experience. It is very good career prospect as I think.
M1 - You will get finance job only if you are posted at head office. If you are posted in regional branch, you will not get the kind of job you are doing. Analysis & finance job are available at head quarters only. Accounting is all about doing day to day work only.
Me - I have no problem with that. I am comfortable in working anywhere. Infact in my present profile also, sometimes i just have to follow the instruction. No finance or analysis is required in that case.
M1 - What will you prefer, bank or insurance?
Me - I would always prefer this job compare to bank-po because it suits with my educational qualification and experience.
Now M2 comes into picture....
M2 - You are from Bihar but your preference are Delhi, up and jharkhand, why?
Me - It is written in the form that i have to give preference other than my home state. so, i have given 3 other preference. I assumed that bihar is by default my first preference.
M2 - But why these preference?
Me - Sir, it is because all the three state share the same culture, food habit and language which bihar has. So, I would be more comfortable at those places.
M2 - Do you want to come back to bihar, if posted?
Me - Yes sir, any time.
M2 - What do you think the reason of underdevelopment of bihar even though it is very resourceful?
Me - There are no. of reasons, but if i have to point out one reason then that is lack of political willingness. I am not blaming any single party or person, but none of the political party is dedicated for development. They are busy in filling their own pocket. They are not sharing the fruit of resources with common people in the form of development. Every where there is corruption.
M2 - But why do people vote them?
Me - They don't have option sir. All politicians are same. And there is one more major reason that is illiteracy. Illiteracy rate is very high and those people can be easily influenced.
M2 - What do you think, are people of bihar ready to back to their home?
Me - Yes sir, but there is lack of opportunity here. They will not get a job in bihar even if they come back. So, they have only one option left that is to migrate in the search of job either to Punjab, Maharashtra or any other state.
M1 - Do you think, people of bihar are billing to contribute for the development?
Me - Yes sir. But willingness is not everything. They must be able. Those who are financially stable can contribute for the development but all others who are busy in earning their two time bread can not even think about contributing for the development of the state.
Now M3 comes into picture.....
M3 - You have mentioned one word, revenue recognition. It has some reference with IFRS. Do you know IFRS?
Me - Yes sir, IFRS i.e, International financial reporting standard is an international standard of reporting. It brings uniformity in the reporting system of all the countries. At present, different countries are following different system of reporting. India has its own accounting standard where as USA has its own. A company working in both the countries will have to report its financial status according to both the standard which is duplication of work. So, IFRS is very much required.
M3 - There is a name of US accounting standard.....G......???
Me - Yes sir...US GAAP - Generally accepted accounting principles.
M3 - Do you remember the three principals related to revenue recognition is IFRS?
Me - Sorry sir, I don't remember. Then he explained.
M3 - What is general insurance?
Me - Indian government categorize insurance into two categories 1. Life insurance and 2. Non life insurance. Non life insurance is popularly called general insurance. Again, non life insurance is categorized into 3 categories which are property insurance, liability insurance and re insurance. NICL and NIACl deals into two categories of general insurance which are property insurance and liability insurance.
Then M1 asked M3 are we done?? M3 said, sir 1 more question. M1 said, okay go ahead.
M3 - What do you know about NICL?
Me - I explained. (Starting from 1906 till 2day)
M1 - Okay abhishek, we r done. All the best.
Me - Thank you sir. And I went out.
Please let me know, how it was. Thanks in advance.
mene ynh abhishek ne asa kabh kaha ki .....generlaist wale bande inferior hain ....cmon yr this is ur intepretaion to that conversation 
