HCLTech Financial Analyst Interview Questions, Process, and Tips

Budgeting involves creating a financial plan for a specific period, while forecasting predicts future financial outcomes.

• Budgeting is a detailed plan that outlines expected income and expenses for a specific period, usually a year.

• Forecasting is an estimate of future financial outcomes based on historical data and trends.

• Budgeting focuses on setting financial targets and allocating resources accordingly.

• Forecasting hel...read more

Revenue recognition concepts refer to the principles and guidelines used to determine when and how revenue should be recognized in financial statements.

• Revenue should be recognized when it is earned and realized or realizable

• Revenue recognition should be based on the substance of the transaction, not just the form

• Revenue should be recognized at the fair value of the consideration received or receivable

• Revenue recogniti...read more

Short term refers to a brief period of time, while long term refers to a more extended period.

• Short term goals are achievable within a few weeks or months, while long term goals may take years to accomplish.

• Short term decisions focus on immediate results, while long term decisions consider future consequences.

• Short term investments have a lower risk but also a lower return, while long term investments have a higher ris...read more