Cognizant Financial Associate Interview Questions and Answers

Q1. What is depreciation and amortization
Ans. 
Depreciation is the allocation of the cost of tangible assets over their useful life, while amortization is the allocation of the cost of intangible assets over their useful life.
• Depreciation is used for tangible assets like buildings, machinery, vehicles, etc.

• Amortization is used for intangible assets like patents, copyrights, trademarks, etc.

• Both depreciation and amortization help in spreading out the cost of an asse...read more
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Q2. What is balance sheet
Ans. 
Balance sheet is a financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.
• It provides a snapshot of a company's financial position.

• Assets are what the company owns, liabilities are what it owes, and shareholders' equity is the difference between the two.

• The balance sheet equation is: Assets = Liabilities + Shareholders' Equity.

• It helps investors and analysts...read more
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Q1. How to post Deferred revenue entry
Ans. 
Deferred revenue entry is posted by debiting the deferred revenue account and crediting the revenue account.
• Identify the amount of revenue that has been deferred

• Debit the deferred revenue account for the identified amount

• Credit the revenue account for the same amount

• Ensure that the deferred revenue account balance is reduced as revenue is recognized

• Update the financial statements accordingly
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Q2. No clarity on the questions their asking, vague questions mostly
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Q1. No clarity on questions they were asking, vague questions
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Q2. Experience on past role and experience
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Q1. Related to Financial model which I prepared.
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Q1. IND AS 116 and about company
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Q1. Are you ready to relocate
Ans. 
Yes, I am open to relocating for the right opportunity.
• I am willing to relocate for the right job opportunity that aligns with my career goals.

• I have experience moving for previous job positions and am comfortable with the process.

• I am excited about the possibility of exploring a new city and culture through relocation.
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Q2. Your expectations
Ans. 
I expect challenging work, opportunities for growth, supportive team, and fair compensation.
• Challenging work that allows me to utilize my skills and knowledge

• Opportunities for professional growth and advancement within the company

• A supportive team environment where collaboration and communication are valued

• Fair compensation and benefits for the work I am doing
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It was an online aptitude test

Q1. Golden rules of accounting
Ans. 
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• There are three golden rules of accounting: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains.

• These rules help ensure that the accounting equation (Assets = Liabilities + Equity) remains balanced.

• For example, when a company receives ...read more
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Q2. Difference between capital and revenue expenditure
Ans. 
Capital expenditure is for long-term assets, while revenue expenditure is for day-to-day expenses.
• Capital expenditure is for acquiring or improving long-term assets, such as buildings or equipment.

• Revenue expenditure is for day-to-day expenses like salaries, rent, and utilities.

• Capital expenditure is usually non-recurring and adds value to the business over time.

• Revenue expenditure is recurring and is necessary to keep...read more
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Q1. What do you know about Atos
Ans. 
Atos is a global leader in digital transformation, providing IT services and consulting.
• Atos is a multinational IT services corporation based in France

• It offers services in areas such as cybersecurity, big data, and cloud computing

• Atos has a strong presence in various industries including healthcare, finance, and manufacturing
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Marks : 13/20
Total number of questions : 20
Number of answered questions : 20
Number of unanswered questions : 0