CIEL HR Operations Interview Questions and Answers

An account is a record of financial transactions of a person or organization.

• Accounts are used to track income, expenses, assets, and liabilities.

• They are important for financial planning and budgeting.

• Examples of accounts include checking accounts, savings accounts, and credit card accounts.

• Accounting software is often used to manage accounts.

• Accounts can be used to generate financial statements such as balance sheets

Depreciation is the decrease in value of an asset over time due to wear and tear, obsolescence, or other factors.

• Depreciation is a non-cash expense that reduces the value of an asset on the balance sheet.

• There are various methods of calculating depreciation, such as straight-line, declining balance, and sum-of-the-years-digits.

• Depreciation is important for businesses to accurately reflect the value of their assets and ...read more

Back office refers to the administrative and support functions of a business that are not customer-facing.

• It includes tasks such as data entry, record keeping, and accounting.

• Back office operations are essential for the smooth functioning of a business.

• Examples of back office functions include HR, IT, and finance.

• Back office staff work behind the scenes to support the front office staff who interact with customers.

• Effi...read more

An account is a record of financial transactions of a person or organization.

• Accounts are used to track income, expenses, and assets.

• They can be maintained manually or using software.

• Examples include bank accounts, credit card accounts, and investment accounts.