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Budgeting is the process of creating a plan to manage income and expenses over a specific period of time.
Involves estimating income and expenses
Setting financial goals
Monitoring actual performance against the budget
Adjusting the budget as needed
Common types include operating budgets, capital budgets, and cash budgets
Forecasting is the process of making predictions about future trends based on past and present data.
Forecasting involves analyzing historical data to identify patterns and trends
Different methods such as qualitative and quantitative analysis can be used for forecasting
Common techniques include time series analysis, regression analysis, and econometric modeling
Forecasting helps businesses make informed decisions and pla...
Revenue recognition is the process of recording revenue in a company's financial statements when it is earned.
Revenue is recognized when it is realized or realizable and earned, regardless of when cash is received.
It is important to match revenues with expenses in the period they are incurred to accurately reflect the financial performance of a company.
Different industries may have specific guidelines for revenue recog...
Assets are recognized in the balance sheet to reflect the company's resources and their value, while depreciation is recorded to allocate the cost of assets over their useful life.
Assets are recognized in the balance sheet to show the company's resources and their value.
Depreciation is recorded to allocate the cost of assets over their useful life.
Recognizing assets and depreciating them helps in accurately reflecting ...
Budgeting and forecasting are financial planning tools used to estimate future revenues and expenses.
Budgeting involves creating a detailed plan for future income and expenses based on historical data and current trends
Forecasting involves predicting future financial outcomes based on past data and market analysis
Budgeting helps in setting financial goals and allocating resources effectively
Forecasting helps in making ...
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It was mixed with general accounting; aptitude; excel & English.
Journal entry of prepaid expenses involves debiting Prepaid Expenses account and crediting Cash or Bank account.
Prepaid expenses are expenses paid in advance but not yet incurred.
Journal entry for prepaid expenses involves debiting Prepaid Expenses account and crediting Cash or Bank account.
Example: If a company pays $1,200 for insurance coverage for the next 12 months, the journal entry would be: Debit Prepaid Insuran
Accenture interview questions for designations
Get interview-ready with Top Accenture Interview Questions
I applied via Naukri.com
I am a financial analyst with expertise in financial modeling, data analysis, and risk assessment.
I have a strong background in finance and accounting
I am skilled in using financial software and tools such as Excel, Bloomberg, and SAP
I have experience in conducting financial research and analyzing market trends
I am detail-oriented and have excellent analytical skills
I have successfully developed financial models to sup...
Mock tests and I interested in aptitude test and my intelligent
I applied via Naukri.com and was interviewed in Oct 2023. There were 2 interview rounds.
Accrual concept is a fundamental accounting principle where revenues and expenses are recognized when they are incurred, regardless of when cash is exchanged.
Revenue is recognized when it is earned, not necessarily when cash is received.
Expenses are recognized when they are incurred, not necessarily when they are paid.
Accrual accounting provides a more accurate representation of a company's financial position and perfo...
I overcome challenges in my work life by staying calm, analyzing the situation, seeking advice from colleagues, and developing a strategic plan.
Stay calm and composed when faced with challenges
Analyze the situation to understand the root cause of the problem
Seek advice from colleagues or mentors for different perspectives
Develop a strategic plan to address the challenge effectively
I have faced various work challenges in my role as a Financial Analyst, including complex financial models, market volatility, and tight deadlines.
Creating and analyzing complex financial models to support decision-making
Navigating through market volatility and adapting strategies accordingly
Meeting tight deadlines for financial reporting and analysis
Handling unexpected financial issues and providing solutions
Communica...
Seeking new challenges, growth opportunities, and a better cultural fit.
Looking for new challenges and opportunities for growth
Seeking a better cultural fit with the company
Interested in expanding my skill set and knowledge in a different environment
HR team will send you Assignment test (including reasoning,Excel test,mail writting )After Manager rounds finished.
I applied via Walk-in and was interviewed in Jul 2024. There was 1 interview round.
I applied via Campus Placement and was interviewed in Dec 2023. There were 2 interview rounds.
ERP stands for Enterprise Resource Planning, a software system that integrates various business functions to streamline processes and improve efficiency.
ERP systems help organizations manage and automate processes such as accounting, human resources, inventory management, and customer relationship management.
They provide a centralized database that allows different departments to access and share information in real-ti...
I applied via Referral and was interviewed in May 2024. There were 2 interview rounds.
English maths grammer
The duration of Accenture Financial Analyst interview process can vary, but typically it takes about less than 2 weeks to complete.
based on 46 interviews
3 Interview rounds
based on 467 reviews
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