Citicorp Assistant Vice President Operations Interview Questions and Answers for Experienced

Other approaches to the same job could include automation, outsourcing, or reorganizing the team.

• Automation: Implementing technology to streamline processes and reduce manual labor.

• Outsourcing: Hiring a third-party company to handle certain tasks or responsibilities.

• Reorganizing the team: Restructuring roles and responsibilities to optimize efficiency and productivity.

• Example: Automating inventory management to reduce ...read more

Unbilled revenue refers to revenue that has been earned but not yet invoiced to the customer.

• Unbilled revenue is a liability on the balance sheet until it is invoiced.

• It represents the amount of revenue that the company has recognized but has not yet received payment for.

• Once the revenue is invoiced, it becomes accounts receivable and is considered an asset.

• Examples of unbilled revenue include services provided but not...read more

Deferred revenue is a liability that arises when a company receives payment for goods or services that it has not yet delivered or earned.

• Deferred revenue is also known as unearned revenue or advance payments.

• It is recorded as a liability on the balance sheet until the goods or services are delivered or earned.

• Once the goods or services are provided, the deferred revenue is recognized as revenue on the income statement...read more

Derivatives related expenses and incomes are shown in the statement of operations as gains or losses.

• Derivatives are financial instruments that derive their value from an underlying asset.

• Expenses related to derivatives include transaction costs, margin requirements, and hedging costs.

• Incomes related to derivatives include gains or losses from changes in the value of the underlying asset.

• These gains or losses are shown...read more