Infosys BPM
20+ Cyfuture Interview Questions and Answers
Q1. What is prepaid expenses. Where it is shown in balance sheet?
Prepaid expenses are advance payments made for goods or services that will be received in the future.
Prepaid expenses are considered assets on the balance sheet.
They represent expenses that have been paid for in advance but have not yet been used or consumed.
Prepaid expenses are typically shown under the current assets section of the balance sheet.
Examples of prepaid expenses include prepaid rent, prepaid insurance premiums, and prepaid subscriptions.
As the prepaid expenses a...read more
Q2. What is depreciation? And its types?
Depreciation is the decrease in value of an asset over time due to wear and tear, obsolescence or other factors.
Depreciation is a non-cash expense that reduces the value of an asset on the balance sheet.
There are three types of depreciation: straight-line, accelerated, and units of production.
Straight-line depreciation is when the asset loses an equal amount of value each year.
Accelerated depreciation is when the asset loses more value in the early years of its life.
Units of ...read more
Q3. What is the outstanding expenses journal entries, reconciliations, procure to pay process.
Outstanding expenses journal entries, reconciliations, procure to pay process involve recording expenses, ensuring accuracy, and managing payments.
Outstanding expenses journal entries involve recording expenses that have been incurred but not yet paid.
Reconciliations involve comparing financial records to ensure accuracy and identify discrepancies.
Procure to pay process involves managing the entire process from purchasing goods or services to making payments.
Example: Recordin...read more
Q4. What will happen if you missed to reverse accruals?
Missing to reverse accruals can lead to inaccurate financial statements and misrepresentation of financial performance.
Inaccurate financial statements may be issued
Financial performance may be misrepresented
Can lead to incorrect decision making based on inaccurate financial data
Q5. According to you, how important a proper documentation is?
Proper documentation is crucial for maintaining accuracy, compliance, and communication in any professional setting.
Proper documentation ensures accuracy in record-keeping and decision-making.
It helps in maintaining compliance with regulations and standards.
Good documentation facilitates effective communication among team members and stakeholders.
It serves as a reference point for future actions and audits.
Examples: medical records, financial reports, project documentation.
Q6. What are the different formulas you are aware about excel? (Sum, sumif, Vlookup, If, Count)
Various Excel formulas like Sum, Sumif, Vlookup, If, Count are commonly used in data analysis and manipulation.
Sum: Adds up all the numbers in a range of cells.
Sumif: Adds up numbers in a range based on a given condition.
Vlookup: Searches for a value in the first column of a table and returns a value in the same row from another column.
If: Returns one value if a condition is true and another value if it's false.
Count: Counts the number of cells that contain numbers in a range...read more
Q7. If customer is angry at you , what you'll do?
I would remain calm, listen to the customer's concerns, apologize for any inconvenience, and work towards finding a solution to address their issue.
Remain calm and composed
Listen actively to the customer's concerns
Apologize for any inconvenience caused
Empathize with the customer's situation
Work towards finding a solution to address the customer's issue
Offer compensation or alternative solutions if necessary
Q8. What do you know about Sql
SQL is a programming language used to manage and manipulate relational databases.
SQL stands for Structured Query Language
It is used to create, modify, and query databases
Common commands include SELECT, INSERT, UPDATE, and DELETE
Examples of database management systems that use SQL include MySQL, Oracle, and Microsoft SQL Server
Q9. What is the general accounting concepts
General accounting concepts are fundamental principles and guidelines used in the preparation and presentation of financial statements.
Accrual basis accounting vs. cash basis accounting
Matching principle
Conservatism principle
Materiality principle
Consistency principle
Revenue recognition principle
Expense recognition principle
Q10. how many programming languages you know and basics
I am proficient in Java, Python, and SQL with a strong understanding of programming basics.
Proficient in Java, Python, and SQL
Strong understanding of programming basics
Familiar with HTML, CSS, and JavaScript
Q11. What is Accruals? What is the entry for accruals?
Accruals are expenses incurred but not yet paid or revenues earned but not yet received.
Accruals are used to match expenses and revenues to the period in which they are incurred or earned.
The entry for accruals involves debiting an expense account and crediting a liability account.
Examples of accruals include accrued salaries, accrued interest, and accrued taxes.
Q12. What is prepaid? What is the entry for prepaid?
Prepaid refers to an expense that has been paid for in advance but has not yet been incurred.
Prepaid expenses are considered assets on a company's balance sheet until they are used or expire.
The entry for prepaid expenses involves debiting an asset account (prepaid expense) and crediting a liability or expense account.
Example: If a company pays for a one-year insurance policy in advance, the entry would involve debiting Prepaid Insurance and crediting Cash.
Q13. CLR what is asp.net,ado.net,html,css, javascript
ASP.NET is a web development framework, ADO.NET is a data access technology, HTML is a markup language, CSS is a styling language, and JavaScript is a scripting language.
ASP.NET is a framework for building web applications using C# or VB.NET
ADO.NET is used for accessing and manipulating data from databases in .NET applications
HTML is used for structuring content on web pages
CSS is used for styling the appearance of web pages
JavaScript is used for adding interactivity to web p...read more
Q14. What is computer networking?
Computer networking is the practice of connecting devices together to share resources and communicate with each other.
Computer networking involves the use of hardware and software to connect devices together, such as computers, printers, and servers.
Networking protocols, such as TCP/IP, are used to facilitate communication between devices.
Examples of computer networks include local area networks (LANs), wide area networks (WANs), and the internet.
Networking can also involve s...read more
Q15. Golden Rule of accounting Sale Purchase
Golden Rule of accounting states that sales increase assets and liabilities, while purchases decrease assets and liabilities.
Sales increase assets and liabilities
Purchases decrease assets and liabilities
This rule helps in understanding the impact of sales and purchases on financial statements
Q16. What are accounts rules
Account rules are guidelines and regulations that govern the management and use of financial accounts.
Account rules dictate how financial transactions are recorded and reported
They ensure compliance with legal and regulatory requirements
Examples of account rules include the requirement to maintain accurate records and the prohibition of fraudulent activities
Q17. Describe any 5 queries of sql
SQL queries are used to retrieve and manipulate data from databases. Here are 5 common queries.
SELECT: retrieves data from one or more tables
UPDATE: modifies existing data in a table
DELETE: removes data from a table
INSERT INTO: adds new data to a table
JOIN: combines data from two or more tables based on a related column
Q18. What is PTP cycle.
PTP cycle refers to the Procure-to-Pay cycle, which is the process of obtaining goods or services from a supplier to making payment for them.
PTP cycle involves requisitioning, purchasing, receiving, and paying for goods or services.
It starts with the need for a product or service, followed by creating a purchase order, receiving the goods, and finally making payment.
Efficient PTP cycle helps in managing costs, reducing errors, and improving supplier relationships.
Q19. Types of depreciation?
Types of depreciation include straight-line, double declining balance, units of production, and sum-of-the-years' digits.
Straight-line depreciation: Equal amount of depreciation is charged each year.
Double declining balance depreciation: Accelerated method where depreciation expense is higher in the early years.
Units of production depreciation: Depreciation is based on the actual usage of the asset.
Sum-of-the-years' digits depreciation: Depreciation expense decreases each yea...read more
Q20. Types of Accruals?
Accruals are adjustments made to financial statements to reflect expenses incurred but not yet paid.
Accrued expenses: expenses that have been incurred but not yet paid, such as salaries or utilities
Accrued revenues: revenues that have been earned but not yet received, such as interest income
Accrued liabilities: obligations that have been incurred but not yet paid, such as taxes or interest payable
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