Citicorp Phone Banking Officer Interview Questions and Answers

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

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