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GRIR account is Goods Receipt/Invoice Receipt account used in SAP for tracking goods received but not yet invoiced or vice versa.
GRIR account is used to track discrepancies between goods receipt and invoice receipt in SAP.
It helps in ensuring accurate inventory valuation and financial reporting.
To process in SAP, match the goods receipt with the invoice receipt and clear the GRIR account accordingly.
If goods are receiv...
The T Code used in SAP for asset addition is AS01.
T Code AS01 is used for creating a new asset in SAP
It is important to input all necessary information accurately while using T Code AS01
AS01 allows for the addition of various types of assets such as tangible and intangible assets
Fixed assets in manufacturing industries typically include machinery, equipment, buildings, and land.
Fixed assets in manufacturing industries are long-term assets that are used in the production process.
Examples of fixed assets in manufacturing industries include machinery, equipment, buildings, and land.
These assets are not intended for sale and are essential for the company's operations.
Fixed assets are recorded on t...
194Q and 194I are sections under TDS which deal with tax deduction at source on payments made to contractors and rent respectively.
194Q deals with TDS on payment made to resident contractors and professionals for goods and services exceeding Rs. 50 lakhs in a financial year.
194I deals with TDS on payment of rent exceeding Rs. 2,40,000 per annum.
TDS under section 194Q is deducted at the rate of 1% for individuals and HU...
Debtors Ratio is calculated by dividing the total debtors by the total sales and multiplying by 365.
Calculate total debtors (accounts receivable)
Calculate total sales
Divide total debtors by total sales
Multiply the result by 365 to get the Debtors Ratio
Current ratio is a financial metric used to evaluate a company's ability to pay off its short-term liabilities with its short-term assets.
Current ratio is calculated by dividing current assets by current liabilities.
A current ratio of 1 or higher is generally considered healthy.
Cash and cash equivalents include physical currency, bank accounts, and short-term investments that are easily convertible to cash.
Examples of ...
Factors considered when calculating Raw materials variance
Actual quantity of raw materials used
Standard quantity of raw materials allowed for production
Actual cost of raw materials used
Standard cost of raw materials allowed for production
Efficiency of production process
Price fluctuations in raw materials
The part in my control in the process includes setting goals, assigning tasks, monitoring progress, and making adjustments as needed.
Setting goals for the team and individual team members
Assigning tasks based on skills and workload
Monitoring progress through regular check-ins and reports
Making adjustments to the process or team structure as needed
The useful life of a laptop is typically around 3-5 years, while software can vary depending on updates and compatibility.
Laptops generally have a useful life of 3-5 years before needing to be replaced due to hardware degradation or outdated technology.
Software can have a longer useful life if regularly updated and maintained, but may become obsolete due to compatibility issues with newer systems.
Factors such as usage ...
Bank reconciliation shows differences due to timing discrepancies or errors. Adjustments are made to correct these discrepancies.
Differences in bank reconciliation can be due to timing discrepancies, such as outstanding checks or deposits.
Errors in recording transactions can also lead to differences in bank reconciliation.
Adjustments are made by identifying the source of the difference and making the necessary correcti...
Depreciation is not charged on impaired assets because impairment already reflects the reduction in value.
Impairment is a permanent decrease in the value of an asset, while depreciation is the allocation of an asset's cost over its useful life.
Charging depreciation on impaired assets would result in double counting the reduction in value.
Impairment is recognized when the carrying amount of an asset exceeds its recovera...
Related party as per Ind AS refers to entities or individuals that are related to the reporting entity through control, joint control, or significant influence.
Related parties include subsidiaries, associates, joint ventures, key management personnel, and close family members of key management personnel.
Transactions with related parties must be disclosed in the financial statements to ensure transparency and prevent co...
I applied via Referral and was interviewed in Nov 2022. There were 2 interview rounds.
I applied via Naukri.com and was interviewed in Apr 2022. There was 1 interview round.
JSW GBS - Global Business Solutions interview questions for popular designations
I applied via Referral and was interviewed before May 2022. There were 3 interview rounds.
I am a motivated individual with a background in finance and a passion for hobbies like painting. I believe in the golden rule and have experience in preparing balance sheets.
I have a degree in finance and have worked as a financial analyst for 2 years.
In my free time, I enjoy painting and have even sold some of my artwork at local galleries.
The golden rule I live by is to treat others the way I want to be treated.
A ba...
I applied via Naukri.com and was interviewed in Oct 2019. There was 1 interview round.
I applied via Referral and was interviewed before May 2020. There were 4 interview rounds.
Accruals are expenses incurred but not yet paid or recorded in the books.
Accrued salaries and wages
Accrued interest
Accrued taxes
Accrued rent
Accrued utilities
Accrued warranty expenses
I applied via Monster and was interviewed in Aug 2020. There were 4 interview rounds.
I have handled multiple transformation projects in my previous roles.
Led a team to implement a new CRM system resulting in a 30% increase in sales
Managed the transition to a paperless office resulting in a 50% reduction in printing costs
Implemented a new project management tool resulting in a 20% increase in project completion rate
Streamlined the hiring process by implementing an applicant tracking system resulting in
Project stabilization methodology refers to the process of ensuring that a project is completed successfully and is sustainable in the long run.
It involves identifying and addressing any issues or risks that may arise during the project lifecycle.
It includes implementing measures to ensure that the project meets its objectives and delivers the expected benefits.
Examples of project stabilization methodologies include ri...
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