Deloitte Engagement Financial Advisor Interview Questions, Process, and Tips

Regular follow-ups, clear communication, and timely reminders are key to managing accounts receivables.

• Set clear payment terms and communicate them to clients

• Send invoices promptly and follow up with reminders

• Establish a regular follow-up schedule for overdue payments

• Maintain accurate records of all transactions

• Consider offering incentives for early payment or penalties for late payment

Budget is a plan for future income and expenses, while forecast is a prediction of future financial performance.

• Budget is a financial plan that outlines expected income and expenses for a specific period of time, usually a year.

• Forecast is a prediction of future financial performance based on past performance and current trends.

• Budget is more rigid and inflexible, while forecast is more flexible and adaptable to change...read more