Capgemini Operations Manager Interview Questions and Answers

Finance related questions

Commercial lending about the floorplan history showing your analytically thinking skills and solving problem skills

Q1. Accounts related questions
Add your answer
Q2. Revenue recognition standard
Ans. 
Revenue recognition standard refers to the accounting principle that outlines when and how revenue should be recognized in financial statements.
• Revenue should be recognized when it is earned and realized or realizable

• The amount of revenue recognized should be based on the fair value of the goods or services provided

• Revenue recognition can be complex and may require judgment calls based on specific circumstances

• The new ...read more
Answered by AI
Add your answer

Q1. What is accrual and it's entry
Ans. 
Accrual is an accounting method where revenue or expenses are recognized when earned or incurred, regardless of when payment is received or made.
• Accrual accounting is the opposite of cash accounting

• Accruals are recorded as adjusting entries in the general ledger

• Examples of accruals include interest expense, salaries payable, and accounts receivable

• The entry for an accrual involves debiting an expense account and credit
Answered by AI
Add your answer
Q2. What is contingency liability
Ans. 
Contingency liability is a potential liability that may occur in the future based on certain events or circumstances.
• It is a liability that is not certain but may occur in the future

• It is based on certain events or circumstances

• Examples include lawsuits, warranties, and environmental cleanup costs
Answered by AI
Add your answer