10+ Neolync Interview Questions and Answers

Ageing analysis is done by categorizing bills payables by their due dates and calculating the number of days past due.

• Sort bills payables by due date

• Categorize bills payables by age (e.g. 0-30 days past due, 31-60 days past due, etc.)

• Calculate the total amount of bills payables in each age category

• Analyze the trend of bills payables aging over time

• Prepare a report to show the ageing analysis results

Steps to review a financial budget

• Check if the budget aligns with the company's goals and objectives

• Analyze the historical financial data to identify trends and patterns

• Evaluate the assumptions and estimates used in the budget

• Ensure that the budget is realistic and achievable

• Identify potential risks and opportunities

• Review the budget with relevant stakeholders and incorporate feedback

• Monitor actual performance against the budget and make necessary adjustments

Depreciation is calculated by dividing the cost of an asset by its useful life, taking into account salvage value and depreciation method.

• Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.

• Common methods of calculating depreciation include straight-line, double declining balance, and units of production.

• To calculate straight-line depreciation, subtract the salvage value from the cost of the asset and divide by the useful life.

• For exam...read more

Reconciling ledgers involves comparing and adjusting account balances to ensure accuracy.

• Compare account balances in different ledgers

• Identify discrepancies and investigate the causes

• Adjust account balances to correct errors

• Ensure accuracy and completeness of financial records

• Document all reconciliations for audit purposes

Deferred tax liability is a balance sheet item representing taxes that will be paid in the future due to temporary differences in accounting and tax rules.

• Deferred tax liability arises when a company's taxable income is greater than its accounting income, resulting in taxes being paid in the future.

• It is calculated by multiplying the temporary difference between taxable income and accounting income by the tax rate.

• Example: If a company has a temporary difference of $10,000 an...read more

A budget is a financial plan that outlines expected income and expenses over a specific period of time.

• A budget helps individuals and organizations to manage their finances effectively.

• It involves estimating income and expenses for a specific period of time, usually a year.

• Budgets can be used for personal finances, business operations, and government spending.

• Examples of budget categories include housing, transportation, food, entertainment, and savings.

• Budgets can be adjuste...read more

TDS stands for Tax Deducted at Source. It is a tax collection mechanism in India.

• TDS is a system where tax is deducted at the source of income.

• It is applicable to various types of income such as salary, interest, rent, etc.

• The person or entity making the payment is responsible for deducting the tax and depositing it with the government.

• The rate of TDS varies depending on the type of income and the amount being paid.

• TDS certificates are issued to the person whose tax has been ...read more

A swap is a financial agreement between two parties to exchange cash flows or other financial instruments.

• A swap involves two parties exchanging cash flows or other financial instruments based on a predetermined set of terms.

• Common types of swaps include interest rate swaps, currency swaps, and commodity swaps.

• The dividend growth model is a method used to value a company's stock based on the expected future dividends it will pay to shareholders.

• The formula for the dividend gr...read more

Golden rules of accounting are basic principles that guide the process of recording financial transactions.

• There are three golden rules of accounting: Debit what comes in, Credit what goes out, Debit the receiver, Credit the giver, Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a company receives cash from a customer, the cash account is de...read more