In my interview with HP, I was mainly questioned on Ind AS 116 – Leases. The discussion covered both conceptual understanding and practical accounting treatment. I was asked about: Types of leases (finance lease and operating lease / right-of-use model under Ind AS 116) Key accounting terms such as lease liability, right-of-use (ROU) asset, lease term, discount rate, and variable lease payments Initial recognition and subsequent measurement of lease liability and ROU asset Journal entries in different scenarios (at commencement date, depreciation of ROU asset, interest on lease liability, lease payments) Handling discrepancies, such as mismatches in lease schedules, incorrect discount rates, or changes in lease terms, and how to identify and rectify them General problem-based questions on practical lease accounting situations Overall, the interview focused on testing clarity of concepts, logical approach to accounting entries, and the ability to handle real-life lease accounting issues.