Alight Solutions Interview Questions, Process, and Tips

The test consists of 20 questions, 1 hour. There were 10 analytical graph questions. Other 10 were related to accounting concepts.

Q1. What is deferred revenue?
Ans. 
Deferred revenue is the income received in advance for goods or services that are yet to be delivered or rendered.
• Deferred revenue is a liability on the balance sheet.

• It is recognized as revenue only when the goods or services are delivered or rendered.

• Examples include subscription fees, advance payments for software licenses, and gift cards.

• Deferred revenue is also known as unearned revenue or advance payments.
Answered by AI
Add your answer
Q2. What is working capital?
Ans. 
Working capital is the difference between current assets and current liabilities.
• Working capital is the amount of money a company has available to fund its day-to-day operations.

• It is calculated by subtracting current liabilities from current assets.

• A positive working capital indicates that a company has enough funds to meet its short-term obligations.

• Examples of current assets include cash, accounts receivable, and in...read more
Answered by AI
Add your answer
Q3. What is the difference between budgeting and forecasting?
Ans. 
Budgeting is a plan for future expenses while forecasting is an estimate of future financial outcomes.
• Budgeting involves creating a financial plan for a specific period of time, usually a year, and allocating resources accordingly.

• Forecasting involves estimating future financial outcomes based on past performance and current trends.

• Budgeting is more rigid and inflexible while forecasting is more flexible and adaptable.

• ...read more
Answered by AI
Add your answer
Q4. How often budgeting and forecasting are done?
Ans. 
Budgeting and forecasting are typically done annually, but may be done more frequently in certain industries or circumstances.
• Budgeting and forecasting are important tools for financial planning and decision-making.

• Most companies will do an annual budget and forecast, but may also do quarterly or monthly updates.

• Industries with rapidly changing market conditions, such as technology or fashion, may require more frequent...read more
Answered by AI
Add your answer
Q5. What is accrual accounting?
Ans. 
Accrual accounting is a method of accounting where revenues and expenses are recognized when they are earned or incurred, regardless of when the cash is received or paid.
• Revenue and expenses are recorded when they are earned or incurred, not when the cash is received or paid

• This method provides a more accurate picture of a company's financial health

• Accrual accounting is required by GAAP (Generally Accepted Accounting P...read more
Answered by AI
Add your answer
Q6. If actual revenue is less than forecasted revenue, what can be the reasons?
Ans. 
Actual revenue can be less than forecasted revenue due to various reasons.
• Decrease in demand for the product or service

• Increased competition

• Changes in market conditions

• Inaccurate forecasting

• Economic downturn

• Poor sales and marketing strategies

• Production issues

• Pricing strategy

• External factors such as natural disasters or pandemics
Answered by AI
Add your answer
Q7. A re-class entry for revenue wrong posted to some other GL.
Ans. 
Re-class entry for revenue posted to wrong GL
• Identify the correct GL account for the revenue

• Reverse the entry from the wrong GL account

• Post the entry to the correct GL account

• Ensure that the financial statements are adjusted accordingly
Answered by AI
Add your answer

Q1. Brief about your current profile.
Ans. 
I am currently working as a Financial Analyst at XYZ Corporation.
• Responsible for analyzing financial data and creating reports for management

• Assisting in budgeting and forecasting processes

• Conducting financial modeling and scenario analysis

• Collaborating with cross-functional teams to support business decisions

• Preparing presentations for senior leadership

• Monitoring and analyzing industry trends and competitor performanc
Answered by AI
Add your answer
Q2. What is revenue recognition principle?
Ans. 
Revenue recognition principle is an accounting principle that determines when revenue is recognized in financial statements.
• Revenue is recognized when it is earned, regardless of when payment is received

• Revenue must be measurable and collectible to be recognized

• The principle is important for accurate financial reporting and to prevent fraudulent practices

• Examples include recognizing revenue from completed projects or s
Answered by AI
Add your answer
Q3. If an insurance company received the premium for complete year in January (say ₹24000), what should be the revenue recognised at February end?
Ans. 
Revenue recognised at February end would be ₹2000.
• Revenue should be recognised on a monthly basis, so ₹2000 for February

• This is calculated by dividing the annual premium by 12

• This is an example of accrual accounting
Answered by AI
View 2 more answers
Q4. If an electricity meter is installed in office and we don't receive the bill for March month? What will be the treatment at March end?
Ans. 
If electricity meter is installed in office and we don't receive the bill for March month, the treatment at March end will be...
• Check if the meter reading has been taken for March

• Contact the electricity provider to inquire about the bill

• Estimate the bill based on previous months' usage

• Accrue the estimated bill as an expense in the financial statements

• Adjust the expense in the following month when the actual bill is rec
Answered by AI
Add your answer
Q5. If we pay vendors in 30 days and receive from customers in 60 days, what should be the working capital in the business?
Ans. 
Working capital should be positive and equal to 30 days of sales
• Working capital is the difference between current assets and current liabilities

• In this case, we need to calculate the average number of days of payables and receivables

• Assuming sales are made evenly throughout the year, working capital should be positive and equal to 30 days of sales

• Working capital can be improved by reducing the number of days of payable...read more
Answered by AI
Add your answer
Q6. What is the difference between budgeting and forecasting?
Ans. 
Budgeting is a plan for future expenses while forecasting is an estimate of future financial outcomes.
• Budgeting involves creating a financial plan for a specific period of time, usually a year, and allocating resources accordingly.

• Forecasting involves predicting future financial outcomes based on past performance and current trends.

• Budgeting is more focused on controlling expenses and ensuring that spending stays withi...read more
Answered by AI
Add your answer
Q7. If actual revenue is less than forecasted revenue, what can be the reasons?
Ans. 
Actual revenue can be less than forecasted revenue due to various reasons.
• Decrease in demand for the product or service

• Increased competition

• Pricing strategy

• Economic conditions

• Marketing and advertising efforts

• Supply chain disruptions

• Production issues

• Changes in customer behavior

• Seasonal fluctuations

• Errors in forecasting
Answered by AI
Add your answer
Q8. What is accrual accounting?
Ans. 
Accrual accounting is a method of accounting where revenues and expenses are recorded when they are earned or incurred, regardless of when the cash is received or paid.
• Revenue and expenses are recognized when they are earned or incurred, not when the cash is received or paid

• This method provides a more accurate picture of a company's financial health

• Accrual accounting is required by GAAP for publicly traded companies

• Exa...read more
Answered by AI
View 1 more answer
Q9. What happens when a vendor's invoice is not received/posted in correct period?
Ans. 
Unposted vendor invoices can cause inaccurate financial statements and misrepresentation of financial performance.
• Unposted vendor invoices can lead to incorrect accounts payable balances.

• If the invoice is not posted in the correct period, it can lead to misrepresentation of financial performance for that period.

• Delayed posting of vendor invoices can also lead to late payment fees and damage vendor relationships.

• It is i...read more
Answered by AI
Add your answer
Q10. What can be the reasons for vendor's invoice not getting posted in correct period?
Ans. 
Vendor's invoice may not get posted in correct period due to various reasons.
• Incorrect date entered on the invoice

• Delay in receiving the invoice from the vendor

• System error or glitch

• Incorrect posting date selected during posting

• Invoice not approved by the authorized personnel

• Vendor's account not set up correctly in the system

• Mismatch in the purchase order and invoice details
Answered by AI
Add your answer
Q11. If vendor PO is not passed, where does it go?
Ans. 
If vendor PO is not passed, it goes through a review process and may require additional approval.
• Vendor PO may not be passed due to various reasons such as incorrect pricing, quantity, or product

• The PO will go through a review process to identify the issue and determine the appropriate action

• Additional approval may be required before the PO can be passed and processed
Answered by AI
Add your answer
Q12. Current CTC and Notice period
Ans. 
I currently earn X amount and have a Y notice period.
• My current CTC is X amount per annum/month.

• My notice period is Y days/weeks/months.

• I am willing to negotiate on both if required.

• Examples: My current CTC is 10 lakhs per annum and my notice period is 2 months.

• Examples: My current CTC is $80,000 per annum and my notice period is 4 weeks.
Answered by AI
Add your answer

Q1. Brief about your overall experience.
Ans. 
I have over 5 years of experience in financial analysis and have worked with various industries.
• Experience in financial modeling and forecasting

• Expertise in financial statement analysis and reporting

• Proficient in using financial software and tools

• Worked with industries such as healthcare, technology, and retail

• Collaborated with cross-functional teams to provide financial insights and recommendations
Answered by AI
Add your answer
Q2. In which field you want to grow?
Ans. 
I want to grow in the field of investment banking.
• I have a strong interest in financial markets and analyzing investment opportunities.

• I want to develop my skills in financial modeling, valuation, and deal-making.

• I am open to working in different sectors and industries to gain diverse experience.

• I am also interested in pursuing advanced certifications such as CFA or CAIA.

• Ultimately, I want to become a successful invest...read more
Answered by AI
Add your answer
Q3. Why do you want to change from your current company?
Ans. 
Looking for better growth opportunities and a more challenging role.
• Current company lacks opportunities for career advancement

• Seeking a more dynamic and stimulating work environment

• Interested in exploring new industries and expanding skill set
Answered by AI
Add your answer
Q4. Describe your current responsibilities in your role in detail.
Ans. 
I am responsible for analyzing financial data, creating reports, and providing recommendations to management.
• Analyze financial data to identify trends and patterns

• Create financial reports and presentations for management

• Provide recommendations to improve financial performance

• Collaborate with other departments to gather data and insights

• Stay up-to-date with industry trends and regulations
Answered by AI
Add your answer
Q5. What all reports do you prepare in your current role?
Ans. 
I prepare financial reports such as balance sheets, income statements, and cash flow statements.
• Balance sheets

• Income statements

• Cash flow statements
Answered by AI
Add your answer
Q6. If there is a variance in actual expense and budgeted expense, what can be the reasons.
Ans. 
Variance in actual and budgeted expenses can be due to various reasons.
• Inaccurate budgeting

• Unexpected events or emergencies

• Changes in market conditions

• Inefficient cost management

• Errors in recording or reporting expenses

• Delayed or unanticipated expenses

• Inflation or currency fluctuations

• Changes in business strategy or priorities
Answered by AI
Add your answer
Q7. Questions about treng analysis.
Add your answer
Q8. Current CTC, Expected CTC and Notice period
Add your answer

Q1. Can you please tell us about yourself?
Ans. 
Experienced Senior Associate with a background in finance and project management.
• Over 5 years of experience in finance and project management roles

• Skilled in financial analysis, budgeting, and forecasting

• Strong communication and leadership skills

• Managed cross-functional teams to successfully complete projects on time and within budget

• Proficient in Microsoft Excel, PowerPoint, and project management tools
Answered by AI
Add your answer
Q2. What were your key performance indicators (KPIs)?
Ans. 
My key performance indicators included client satisfaction, project completion rate, and revenue growth.
• Client satisfaction surveys

• Project completion rate

• Revenue growth compared to targets
Answered by AI
Add your answer

Q1. Why did you leave companies in very less time.
Add your answer
Q2. Our manager will not accept your cv as you left jobs in less than 3 yrs.
Add your answer

Reasoning, quantitative aptitude test, ms office advanced level questions asked

Q1. Self introduction
Add your answer