ABB Executive Accountant Interview Questions and Answers for Experienced

Deferred revenue is income received by a company in advance of earning it, resulting in a liability on the balance sheet.

• Deferred revenue represents a liability for the company until the goods or services are delivered.

• It is common in subscription-based businesses where customers pay upfront for services to be rendered over time.

• Once the revenue is earned, it is recognized on the income statement.

• Examples include magaz...read more

P2P cycle stands for Procure-to-Pay cycle, which is the process of obtaining and paying for goods and services.

• P2P cycle starts with the requisition of goods or services by a department within a company.

• The purchase order is then created and sent to the vendor for approval.

• Upon receiving the goods or services, the invoice is generated and matched with the purchase order and receipt.

• Finally, payment is made to the vendo...read more

PO non-PO invoice difference refers to the distinction between purchase order and non-purchase order invoices.

• PO invoices are based on a purchase order issued by the buyer to the seller, while non-PO invoices are not linked to a specific purchase order.

• PO invoices are typically pre-approved and have a set budget, while non-PO invoices may require additional approval processes.

• PO invoices help track and manage expenses ...read more