10+ CAFU Interview Questions and Answers

The organization used descriptive and inferential statistics to analyze and build models.

• Descriptive statistics were used to summarize and describe the data, such as mean, median, and standard deviation.

• Inferential statistics were used to make predictions and draw conclusions about the population based on the sample data, such as hypothesis testing and regression analysis.

• The organization may have also used time series analysis, clustering, and classification models.

• Examples ...read more

Expenses paid in next month but shown in current month provision explained.

• Expenses are recorded in the month they are incurred, not when they are paid

• Provision is made for expenses that are expected to be incurred but not yet paid

• If an expense is paid in the next month, it will still be recorded in the current month's provision

• This is done to ensure accurate financial reporting and forecasting

I am very familiar with Python, SQL, and ML models.

• I have extensive experience using Python for data analysis and machine learning tasks.

• I am proficient in writing SQL queries to extract data from databases.

• I have worked with a variety of ML models, including regression, classification, and clustering.

• I am familiar with popular ML libraries such as scikit-learn, TensorFlow, and Keras.

• I have experience with data preprocessing, feature engineering, and model evaluation.

• I am con...read more

The rules of accounts for daily entries include the principles of double-entry bookkeeping, accrual accounting, and the matching principle.

• Double-entry bookkeeping: Every transaction should have equal debits and credits to maintain the balance.

• Accrual accounting: Revenue and expenses should be recorded when earned or incurred, regardless of when the cash is received or paid.

• Matching principle: Expenses should be matched with the revenue they generate in the same accounting pe...read more

I would communicate with the person and provide updates on the progress of the work.

• Acknowledge the person's emails and provide an estimated timeline for completion.

• Regularly update the person on the progress of the work.

• If there are any delays or issues, communicate them to the person and provide a new estimated timeline.

• Ensure that the person feels heard and valued throughout the process.

Outliers can significantly impact analysis. It's important to identify and handle them appropriately.

• Visualize the data to identify outliers

• Consider the source of the outliers and whether they are valid data points

• Remove outliers if they are invalid or use robust statistical methods that are less sensitive to outliers

• Document any handling of outliers in the analysis report

Provision entry is passed in month end to account for expenses incurred but not yet paid.

• To ensure accurate financial statements

• To avoid understating expenses

• To comply with accounting standards

• To facilitate budgeting and forecasting

ML classification models use various metrics to evaluate performance.

• Common metrics include accuracy, precision, recall, F1 score, and AUC-ROC.

• Accuracy measures the proportion of correct predictions.

• Precision measures the proportion of true positives among all positive predictions.

• Recall measures the proportion of true positives among all actual positives.

• F1 score is the harmonic mean of precision and recall.

• AUC-ROC measures the area under the receiver operating characteristi...read more

Internal Audit is a process of evaluating and improving an organization's operations, risk management, and internal controls.

• Internal Audit is an independent and objective assurance activity that helps organizations achieve their objectives.

• It involves evaluating the effectiveness of an organization's risk management, control, and governance processes.

• Internal auditors provide recommendations for improving operations, reducing risks, and enhancing internal controls.

• They asses...read more

I'm sorry, I need more information about which show you are referring to.

BRS stands for Bank Reconciliation Statement.

• BRS is a financial statement that compares the bank's records with the company's records of cash transactions.

• It helps identify any discrepancies or errors in the bank account or cash book.

• The statement includes details of deposits, withdrawals, bank charges, and outstanding checks.

• By reconciling the two sets of records, BRS ensures the accuracy of the company's financial transactions.

• Example: If the company's cash book shows a bal...read more

V-look up is a function in Excel used to search for a specific value in a table and return a corresponding value.

• Select the cell where you want the result to appear

• Go to the 'Formulas' tab and click on 'Lookup & Reference'

• Select 'VLOOKUP' from the dropdown menu

• Enter the value you want to search for in the 'Lookup_value' field

• Select the table range in the 'Table_array' field

• Enter the column number of the value you want to return in the 'Col_index_num' field

• Choose whether you w...read more

Vendor management is the process of managing relationships with suppliers and vendors.

• Identifying and selecting vendors

• Negotiating contracts and pricing

• Monitoring vendor performance

• Managing vendor relationships

• Ensuring compliance with contracts and agreements