ABB Interview Questions, Process, and Tips

Handled a volume of business worth $10 million in the last fiscal year.

• Managed a portfolio of clients worth $10 million in sales

• Successfully closed deals totaling $10 million in revenue

• Handled a high volume of transactions resulting in $10 million in business

The go to market strategy is a plan outlining how a company will reach its target customers and achieve competitive advantage.

• Identify target market segments

• Develop a unique value proposition

• Choose distribution channels

• Set pricing and promotional strategies

• Implement sales and marketing tactics

• An example could be using online advertising to target a specific demographic

Golden rules of accounting are basic principles that guide the process of recording financial transactions.

• Debit what comes in, credit what goes out

• Debit the receiver, credit the giver

• Debit expenses and losses, credit income and gains

Mitigating risk involves identifying potential risks, assessing their impact, and implementing strategies to minimize or eliminate them.

• Identify potential risks by conducting risk assessments and analyzing past incidents

• Assess the impact of each risk on the project or team

• Develop risk mitigation strategies such as contingency plans, risk transfer, or risk avoidance

• Monitor and review risks regularly to ensure effectiven

Address resistance by understanding stakeholder concerns, building trust, and finding common ground.

• Listen actively to their concerns and try to understand their perspective.

• Communicate openly and transparently to build trust and credibility.

• Find common ground and work towards a mutually beneficial solution.

• Involve them in the decision-making process to increase buy-in and ownership.

• Seek feedback and address any issues...read more

Implemented automated financial reporting system to streamline processes

• Developed a new financial reporting template that reduced manual data entry by 50%

• Utilized advanced Excel functions to automate data analysis and reporting

• Implemented a new budgeting software that improved accuracy and efficiency in forecasting

Prepaid expenses are recorded as assets on the balance sheet until they are used up or expire.

• Prepaid expenses are initially recorded as assets on the balance sheet

• As the prepaid expenses are used up or expire, they are then recognized as expenses on the income statement

• The adjusting entry to recognize the expense involves debiting an expense account and crediting the prepaid expense account

• Examples of prepaid expenses...read more

Foreign currency revaluation in SAP involves adjusting the value of foreign currency balances to reflect current exchange rates.

• Foreign currency revaluation is typically done at month-end or year-end to ensure financial statements accurately reflect the current exchange rates.

• In SAP, the process involves running the foreign currency revaluation program (transaction code FAGL_FC_VAL) to revalue open items in foreign cur...read more