IBM Senior Process Analyst Interview Questions and Answers

Accruals refer to expenses that have been incurred but not yet paid for.

• Accruals are used to match expenses with revenues in the same accounting period.

• They are recorded as liabilities on the balance sheet until they are paid.

• Examples include accrued salaries, interest, and taxes.

• Accruals help provide a more accurate representation of a company's financial position.

Provisions are funds set aside for future expenses or losses.

• Provisions are typically made to cover potential future liabilities or expenses.

• They are recorded as a liability on the balance sheet until they are utilized.

• Examples of provisions include warranty provisions, bad debt provisions, and restructuring provisions.

Prepayment is a payment made before the actual due date of an invoice or bill.

• Prepayment helps in ensuring timely payment and can sometimes lead to discounts.

• It is common in industries like real estate, where tenants may prepay rent for a few months.

• Prepayment can also refer to paying for goods or services in advance before receiving them.

I have over 8 years of experience in process analysis, focusing on optimizing workflows and enhancing operational efficiency.

• Led a project that reduced processing time by 30% through workflow automation.

• Conducted root cause analysis to identify bottlenecks in the supply chain, resulting in a 15% cost reduction.

• Collaborated with cross-functional teams to implement process improvements, enhancing customer satisfaction sc...read more