20+ Softenger Interview Questions and Answers

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.

• It is calculated by dividing the cost of the asset by its useful life.

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

• Examples of assets that can be depreciated include buildings, vehicles, machine...read more

The Project Management triangle consists of three components: scope, time, and cost.

• Scope refers to the goals and deliverables of the project.

• Time refers to the duration of the project and the deadlines for each deliverable.

• Cost refers to the budget allocated for the project.

• These three components are interdependent, and any change in one component will affect the other two.

• For example, if the scope of the project is increased, the time and cost will also increase.

• Similarly, ...read more

India has multiple ports located along its coastline.

• India has 13 major ports and around 200 minor ports.

• Some of the major ports in India include Mumbai Port, Chennai Port, Kolkata Port, and Jawaharlal Nehru Port Trust.

• These ports play a crucial role in facilitating international trade and commerce.

• They handle a wide range of cargo including containers, petroleum products, coal, iron ore, and more.

• The ports are managed by the respective port authorities and contribute signifi...read more

Accounting principles and concepts

• Accounting principles are the rules and guidelines that govern the preparation and presentation of financial statements.

• Accounting concepts are the basic assumptions and ideas that underlie the accounting process.

• Some important accounting principles include the principle of conservatism, the principle of materiality, and the principle of consistency.

• Accounting concepts such as the entity concept, the going concern concept, and the matching co...read more

I would leverage my experience in the ed-tech industry to optimize shipping processes and improve efficiency.

• Utilize technology to track shipments in real-time and provide updates to customers

• Implement data analytics to identify trends and optimize supply chain management

• Establish partnerships with educational institutions to streamline shipping processes

• Develop customized shipping solutions for educational materials and resources

General Ledger is a master record of all financial transactions of a company.

• It contains all the accounts and transactions of a company

• It is used to prepare financial statements

• It helps in tracking the financial health of a company

• It is also known as the book of final entry

• Examples of accounts in the general ledger include cash, accounts receivable, accounts payable, and inventory

Import and export refer to the movement of goods and services across international borders.

• Import is the process of bringing goods or services into a country from another country.

• Export is the process of sending goods or services from one country to another country.

• Import and export are important for international trade and economic growth.

• Examples of imported goods include electronics, clothing, and food products.

• Examples of exported goods include automobiles, machinery, and...read more

Fixed assets are long-term tangible assets that are used in the production of goods or services and have a useful life of more than one accounting period.

• Fixed assets are physical assets such as buildings, machinery, vehicles, and equipment.

• They are not intended for sale and are used for the company's operations.

• Fixed assets are recorded on the balance sheet and depreciated over their useful life.

• They are typically categorized into land, buildings, machinery, vehicles, and fu...read more

CMA CGM is a leading shipping and logistics company with a global presence.

• CMA CGM is one of the largest container shipping companies in the world.

• It was founded in 1978 by Jacques Saadé in Marseille, France.

• The company operates a fleet of over 500 vessels and serves more than 420 ports worldwide.

• CMA CGM offers a wide range of shipping and logistics services, including container transportation, logistics, and supply chain management.

A container is a standardized unit of software that packages up code and all its dependencies so the application runs quickly and reliably from one computing environment to another.

• Containers are lightweight and portable.

• They allow for easy deployment and scaling of applications.

• They isolate applications from the underlying infrastructure.

• Examples of container technologies include Docker and Kubernetes.

Accrual concept recognizes revenue and expenses when they are earned/incurred, regardless of when cash is received/paid. Accounting standards provide guidelines for financial reporting.

• Accrual concept is based on matching revenue and expenses in the same accounting period

• Revenue is recognized when it is earned, not when cash is received

• Expenses are recognized when they are incurred, not when cash is paid

• Accounting standards provide guidelines for financial reporting to ensure...read more

Depreciation journal entries are used to record the decrease in value of an asset over time.

• Depreciation is a non-cash expense that reduces the value of an asset over its useful life.

• The journal entry for depreciation includes a debit to Depreciation Expense and a credit to Accumulated Depreciation.

• Depreciation can be calculated using different methods such as straight-line, double-declining balance, or units of production.

• For example, if a company purchased a machine for $10...read more

A Bill of Lading is a legal document that serves as a receipt of goods shipped and a contract between the shipper and carrier.

• It includes details such as the type and quantity of goods being shipped, the names of the shipper and carrier, and the destination.

• It serves as proof of ownership of the goods and can be used to transfer ownership.

• It is commonly used in international trade and transportation.

• Examples of carriers that issue Bills of Lading include shipping companies, a...read more

Export import involves the buying and selling of goods and services between countries.

• Exporting is selling goods and services to other countries

• Importing is buying goods and services from other countries

• It involves international trade agreements and regulations

• Examples include exporting cars from Japan to the US, and importing electronics from China to Europe

Shipping refers to the process of transporting goods or products from one place to another, typically by sea, air, or land.

• Shipping can involve various modes of transportation such as ships, airplanes, trucks, and trains.

• It plays a crucial role in global trade and commerce, facilitating the movement of goods between countries.

• Shipping companies may specialize in specific types of cargo, such as container shipping, bulk shipping, or liquid bulk shipping.

• Key players in the ship...read more

I developed an interest in maritime law through my passion for sailing and fascination with international trade.

• Growing up near the coast sparked my curiosity about maritime activities

• Studying international business in college introduced me to the complexities of maritime law

• Interning at a maritime law firm provided hands-on experience in the field

• Attending seminars and workshops on maritime law further deepened my interest

• Reading case studies and following landmark maritime ...read more

Logistics refers to the process of planning, implementing, and controlling the movement of goods and services from the point of origin to the point of consumption.

• It involves transportation, warehousing, inventory management, and packaging.

• Logistics ensures that products are delivered to customers in a timely and cost-effective manner.

• It plays a crucial role in supply chain management and can impact a company's profitability.

• Examples of logistics companies include FedEx, UPS,...read more

Shipping is a dynamic industry that requires strategic planning, problem-solving skills, and strong leadership abilities.

• Shipping involves coordinating complex logistics to ensure timely delivery of goods.

• The industry is constantly evolving with advancements in technology and global trade agreements.

• Effective communication and negotiation skills are crucial in managing relationships with suppliers, carriers, and customers.