50+ Snapwork Technologies Interview Questions and Answers

Assess the situation, try to find the missing data, and if not possible, inform the client and senior management.

• Check if the missing data can be retrieved from any other source or system

• If not, assess the impact of missing data on the project and client's requirements

• If the impact is significant, inform the client and senior management immediately

• If the impact is minimal, complete the project with available data and inform the client about the missing data

• Document the incide...read more

P2P process involves procurement of goods/services from a supplier and payment to the supplier.

• P2P stands for Procure-to-Pay process

• It involves identifying the need for goods/services, selecting a supplier, creating a purchase order, receiving the goods/services, and making payment to the supplier

• The audit of P2P process involves reviewing the controls in place to ensure accuracy and completeness of transactions, verifying the existence of proper documentation, and testing th...read more

It is not possible to calculate the number of white cars sold in Mumbai every year without the help of internet.

• Without internet, it is impossible to access the necessary data and statistics.

• The number of white cars sold in Mumbai can vary greatly from year to year.

• Data on car sales is typically collected and analyzed using online platforms and databases.

• Without internet, it is difficult to gather information from car dealerships, manufacturers, and government agencies.

• Estima...read more

Cash Flow Statement is a financial statement that shows the inflow and outflow of cash in a business over a period of time.

• It is prepared to provide information about the cash generated and used by a business.

• It is divided into three sections: operating activities, investing activities, and financing activities.

• Operating activities include cash inflows and outflows from day-to-day business operations.

• Investing activities include cash inflows and outflows from buying or sellin...read more

To identify irregularities in inventory, conduct regular physical counts, compare counts to recorded quantities, analyze discrepancies, and investigate root causes.

• Perform regular physical counts of inventory

• Compare the physical counts to the recorded quantities in the inventory system

• Analyze any discrepancies between the physical counts and recorded quantities

• Investigate the root causes of the irregularities

• Implement control measures to prevent future irregularities

• Utilize i...read more

Internal audit compliance section is responsible for ensuring that the organization is following all the relevant laws and regulations.

• It is a department within an organization that ensures compliance with laws and regulations

• It conducts audits to identify areas of non-compliance and recommends corrective actions

• It also ensures that internal policies and procedures are being followed

• Examples include compliance with financial regulations, data protection laws, and workplace sa...read more

Creating patterns using Python involves using loops and conditional statements to generate desired sequences of characters.

• Use loops like for and while to iterate through characters or rows

• Use conditional statements like if-else to control the pattern generation

• Combine different patterns to create complex designs

• Utilize string manipulation functions to modify and format the patterns

It is not possible to accurately determine the number of Reynolds pens sold in Gurgaon every year without specific sales data.

• The sales data of Reynolds pens in Gurgaon is not publicly available.

• The number of Reynolds pens sold can vary each year due to factors such as market demand and competition.

• To determine the exact number, one would need access to sales records or conduct a market research study.

• Without specific data, it is only possible to make an estimate or provide a...read more

Accounts refer to financial records of an organization. Time value of money is the concept that money available today is worth more than the same amount in the future.

• Accounts are financial records that track the financial activities of an organization, including assets, liabilities, income, and expenses.

• Time value of money is the idea that a dollar today is worth more than a dollar in the future due to its potential earning capacity.

• This concept is important in finance and i...read more

Financial modelling is the process of creating a mathematical representation of a financial situation or decision.

• It involves using various financial tools and techniques to analyze and forecast financial performance.

• It helps in making informed decisions about investments, budgeting, and financial planning.

• Examples include creating a cash flow statement, calculating return on investment, and building a financial model for a new business venture.

FAS157 has three levels: Level 1 - quoted prices in active markets, Level 2 - observable inputs, Level 3 - unobservable inputs.

• Level 1: Quoted prices in active markets

• Level 2: Observable inputs

• Level 3: Unobservable inputs

ITC stands for Input Tax Credit in GST.

• ITC is the credit that a business can claim for the taxes paid on inputs used in the production of goods or services.

• It helps to avoid the cascading effect of taxes and reduces the overall tax burden.

• ITC can be claimed on goods and services used for business purposes, except for a few specified items.

• For example, if a manufacturer buys raw materials worth Rs. 10,000 and pays Rs. 1,800 as GST, they can claim ITC of Rs. 1,800 and reduce th...read more

Joins are used in databases to combine rows from two or more tables based on a related column between them.

• Joins are used to retrieve data from multiple tables based on a related column.

• Common types of joins include INNER JOIN, LEFT JOIN, RIGHT JOIN, and FULL JOIN.

• INNER JOIN returns rows when there is at least one match in both tables.

• LEFT JOIN returns all rows from the left table and the matched rows from the right table.

• RIGHT JOIN returns all rows from the right table and t...read more

Yes, I have knowledge about MS Excel.

• Proficient in creating and formatting spreadsheets

• Skilled in using formulas and functions

• Experienced in data analysis and visualization

• Familiar with pivot tables and charts

Risk assessment steps for onboarding new applications involve identifying potential threats, evaluating vulnerabilities, and implementing controls.

• Identify potential threats such as data breaches, malware attacks, and unauthorized access.

• Evaluate vulnerabilities in the application's design, code, and infrastructure.

• Implement controls such as encryption, access controls, and regular security audits.

• Conduct regular risk assessments to identify new threats and vulnerabilities.

• Tr...read more

ServiceNow is a cloud-based platform that provides IT service management, IT operations management, and IT business management solutions.

• ServiceNow offers a range of products and services for IT professionals to streamline and automate their workflows.

• It helps organizations manage their IT infrastructure, services, and operations more efficiently.

• ServiceNow's platform includes modules for IT service management, IT operations management, and IT business management.

• It allows fo...read more

GST and VAT are consumption taxes while consolidation concept refers to combining financial statements of multiple entities.

• GST (Goods and Services Tax) is a consumption tax levied on the supply of goods and services in India.

• VAT (Value Added Tax) is a consumption tax levied on the value added to goods and services at each stage of production and distribution.

• Consolidation concept refers to the process of combining the financial statements of multiple entities into a single s...read more

A circular linked list is a linked list where the last node points to the first node, forming a loop.

• Each node has a pointer to the next node and the last node points to the first node.

• Traversal can start from any node and continue until the starting node is reached again.

• Used in applications where data needs to be accessed in a circular manner, such as a playlist in music apps.

Cryptography encryption involves various types of encryption algorithms to secure data.

• Symmetric encryption uses a single key for both encryption and decryption (e.g. AES)

• Asymmetric encryption uses a pair of keys, public and private, for encryption and decryption (e.g. RSA)

• Hash functions generate fixed-size output from input data (e.g. SHA-256)

• Stream ciphers encrypt data bit by bit (e.g. RC4)

• Block ciphers encrypt data in fixed-size blocks (e.g. DES)

CIA triad is a model designed to guide policies for information security within an organization.

• CIA stands for Confidentiality, Integrity, and Availability

• Confidentiality ensures that information is only accessible to those who are authorized to view it

• Integrity ensures that information is accurate and trustworthy

• Availability ensures that information is accessible when needed

• Example: Encrypting sensitive data to maintain confidentiality

I have experience with implementing new processes and systems in real time by carefully planning, communicating with stakeholders, and monitoring progress.

• Develop a detailed implementation plan outlining tasks, timelines, and responsibilities

• Communicate effectively with team members and stakeholders to ensure everyone is on the same page

• Monitor progress regularly and make adjustments as needed to stay on track

• Provide training and support to team members to ensure successful i...read more

A woman sold eggs to three customers, each buying half of the remaining eggs and a half of an egg. How many eggs did she bring?

• The first customer bought half of the eggs and a half of an egg, leaving the woman with half of the original amount minus half an egg.

• The second customer bought half of the remaining eggs and a half of an egg, leaving the woman with a quarter of the original amount minus one egg.

• The third customer bought one egg, leaving the woman with no eggs in stoc...read more

PEP stands for Politically Exposed Person. They are individuals who hold a prominent public position or have close associations with such individuals.

• PEPs are considered high-risk customers due to their potential involvement in corruption, money laundering, and other financial crimes.

• Examples of PEPs include government officials, heads of state, and senior executives of state-owned enterprises.

• Other threats in the KYC process include individuals or entities involved in terror...read more

Profit and loss account, financial statement, and cash flow statement are all important financial documents used to track a company's financial performance.

• Profit and loss account shows a company's revenues, expenses, and net income or loss over a specific period of time.

• Financial statements provide a comprehensive overview of a company's financial health, including its assets, liabilities, and equity.

• Cash flow statement shows the inflow and outflow of cash in a company over ...read more

AML is Anti-Money Laundering, a set of laws, regulations, and procedures to prevent illegal activities like money laundering and terrorism financing.

• AML is a regulatory framework that financial institutions must follow to prevent money laundering and terrorist financing.

• It involves identifying and verifying the identity of customers, monitoring transactions, and reporting suspicious activities.

• CDD (Customer Due Diligence) is the process of verifying the identity of a customer...read more

The cash flow statement has three main elements: operating activities, investing activities, and financing activities.

• Operating activities: cash inflows and outflows from the company's core business operations, such as sales and expenses.

• Investing activities: cash inflows and outflows from investments, such as buying or selling property, plant, and equipment.

• Financing activities: cash inflows and outflows from financing, such as issuing or repaying debt, or paying dividends t...read more

I can provide technical expertise to optimize plant operations and support business goals.

• Implementing new technologies to improve efficiency and reduce costs

• Troubleshooting technical issues to minimize downtime

• Training plant staff on new equipment and processes

• Collaborating with cross-functional teams to drive continuous improvement

• Analyzing data to identify areas for optimization and growth

Bank Reconciliation Statement is a document that compares the bank statement with the company's records.

• It helps to identify any discrepancies between the two records.

• It ensures that all transactions are recorded accurately.

• It helps to detect any fraudulent activities.

• It is prepared at regular intervals, usually monthly.

• Example: If a company issues a check but it has not yet cleared the bank, it will be reflected in the company's records but not in the bank statement.

• Example:...read more

Quality and financial measures for govt-private collaboration in education institutions.

• Establish clear guidelines and standards for infrastructure, faculty, curriculum, and student outcomes.

• Ensure transparency in financial transactions and accountability for the use of public funds.

• Conduct regular audits and evaluations to monitor the quality of education and financial performance.

• Encourage competition among private players to improve quality and affordability.

• Provide financ...read more

Analysis of life insurance, general insurance, and fire and damage insurance with inputs on mode of delivery and role of brokers/agents.

• Life insurance provides financial protection to the family of the insured in case of death.

• General insurance covers non-life assets like health, travel, motor, etc.

• Fire and damage insurance covers loss or damage to property due to fire, natural calamities, etc.

• Online mode of delivery is not very feasible in India due to low internet penetrati...read more

Accounting is the process of recording, classifying, and summarizing financial transactions to provide information that is useful in making business decisions.

• Accounting involves keeping track of financial transactions such as sales, purchases, and payments

• It includes classifying these transactions into categories such as assets, liabilities, and equity

• The information is then summarized in financial statements such as balance sheets and income statements

• Examples of accounting...read more

Cloud computing involves storing and accessing data and programs over the internet instead of on a computer's hard drive.

• Cloud computing allows users to access data and applications from any device with an internet connection.

• It provides scalability, flexibility, and cost-efficiency for businesses.

• Examples of cloud services include Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform.

Change Management involves controlling changes to IT systems, while Access Control Management focuses on managing user access to these systems.

• Change Management is the process of managing changes to IT systems in a controlled and systematic manner.

• Access Control Management involves managing user access to IT systems, ensuring only authorized users have access to specific resources.

• Change Management includes steps like planning, testing, implementing, and documenting changes t...read more

CSS can be added in HTML using inline, internal, and external methods.

• Inline CSS: Use the style attribute within an HTML element.

• Internal CSS: Use the <style> tag within the <head> section of the HTML document.

• External CSS: Link an external CSS file using the <link> tag within the <head> section.

Yes, Indian Tax system is complex and diverse with various taxes like income tax, GST, customs duty, etc.

• Indian tax system is governed by the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC)

• Income tax is levied on the income earned by individuals and businesses

• Goods and Services Tax (GST) is a value-added tax levied on the supply of goods and services

• Customs duty is levied on goods imported into India

• There are also other taxes li...read more

Internal Audit is a systematic and independent evaluation of an organization's operations to ensure effectiveness, efficiency, and compliance.

• Planning: Define scope, objectives, and methodology of the audit.

• Fieldwork: Collect and analyze data, identify risks and controls.

• Reporting: Communicate findings, recommendations, and action plans.

• Follow-up: Monitor implementation of recommendations and track progress.

• Examples: Performing financial audits, operational audits, compliance...read more

There are two types of sorting - ascending and descending. There are various types of searching like linear search, binary search, etc.

• Sorting: Ascending, Descending

• Searching: Linear search, Binary search, Hashing, etc.

Revenue recognition in service industries depends on the type of service provided and the terms of the contract.

• Recognize revenue when the service is completed and the customer is billed

• Recognize revenue over time if the service is ongoing and the customer is billed periodically

• Recognize revenue when the service is delivered if payment is received in advance

• Recognize revenue based on percentage of completion if the service is long-term and complex

• Consider any warranties or gu...read more

A common control business combination occurs when two or more businesses are under the control of the same parent company.

• In a common control business combination, the parent company has the ability to direct the operating and financial policies of the businesses.

• This type of combination typically involves businesses that are owned by the same group of shareholders or have the same management team.

• Common control business combinations are not considered to be acquisitions beca...read more

SaaS stands for Software as a Service, a cloud-based software delivery model where applications are hosted by a third-party provider and accessed over the internet.

• SaaS allows users to access software applications via the internet without the need for installation or maintenance.

• Users typically pay a subscription fee to use SaaS applications, which are centrally hosted and managed by the provider.

• Examples of SaaS include Salesforce, Microsoft Office 365, and Google Workspace.

Effective Interest Rate (EIR) for a loan can be calculated using a formula that considers the loan amount, interest rate, and repayment schedule.

• Calculate the present value of all cash flows associated with the loan, including both principal and interest payments

• Determine the interest rate that equates the present value of cash flows to the loan amount

• The formula for EIR calculation is complex and typically requires the use of financial calculators or software

• EIR calculation ...read more

SQL query to convert case to upper, Union and Union all, Decorators, Generators

• Use the UPPER() function in SQL to convert case to upper

• UNION combines the result sets of two or more SELECT statements

• UNION ALL also combines the result sets of two or more SELECT statements, including duplicates

• Decorators in Python are used to modify or extend the behavior of functions or methods

• Generators in Python are functions that return an iterator object

Transfer pricing refers to the setting of prices for goods and services sold between related entities within a multinational company.

• Transfer pricing is used to determine the value of transactions between different parts of a company, often located in different countries.

• It is important for tax purposes to ensure that these transactions are conducted at arm's length, meaning they are priced as if the entities were unrelated.

• Transfer pricing can impact the allocation of profit...read more

Assets in balance sheet represent resources owned by a company that have economic value.

• Assets are items of value owned by a company, such as cash, inventory, equipment, and investments.

• They are listed on the balance sheet and categorized as current assets (e.g. cash, accounts receivable) or non-current assets (e.g. property, plant, equipment).

• Assets are typically listed in order of liquidity, with the most liquid assets (e.g. cash) listed first.

• The total assets of a company ...read more

An audit trail is a chronological record of all activities related to a specific operation or event.

• It provides a detailed history of changes made to data, including who made the changes and when.

• Audit trails are commonly used in financial audits to track transactions and ensure accuracy.

• They help in detecting errors, fraud, or unauthorized activities by providing a trail of evidence.

• Audit trails are essential for maintaining data integrity and accountability.

• Examples include...read more

Cash flow is the movement of money in and out of a business, showing how much cash is generated or spent over a specific period of time.

• Cash flow is crucial for assessing a company's financial health and liquidity.

• Positive cash flow means more money is coming in than going out, while negative cash flow indicates the opposite.

• Examples of cash flow include revenue from sales, operating expenses, investments, and financing activities.

SQL query to retrieve all employees from a table

• Use SELECT statement to retrieve data

• Specify the columns to be selected

• Specify the table name where the data is stored

Compliance ensures adherence to laws, regulations, and company policies to mitigate risks and maintain ethical standards.

• Ensures legal and regulatory requirements are met

• Mitigates risks of fines, penalties, and reputational damage

• Maintains ethical standards and corporate governance

• Promotes trust and transparency with stakeholders

DBMS stands for Database Management System, which is a software that manages databases. SQL is a language used to interact with databases.

• DBMS is a software that allows users to create, retrieve, update, and manage databases.

• SQL (Structured Query Language) is a language used to communicate with and manipulate databases.

• Examples of popular DBMS include MySQL, Oracle, and SQL Server.

• Examples of SQL commands include SELECT, INSERT, UPDATE, and DELETE.

Fundamentals of auditing involve understanding the principles, procedures, and standards used in examining financial records.

• Auditing involves examining financial records to ensure accuracy and compliance with laws and regulations

• Key principles of auditing include independence, integrity, objectivity, and confidentiality

• Auditors must follow specific procedures and standards set by regulatory bodies like the PCAOB or AICPA

• Examples of auditing procedures include testing transac...read more

SQL query to find duplicates in a table

• Use GROUP BY and HAVING clause to identify duplicates

• Select the columns you want to check for duplicates

• Use COUNT() function to count the occurrences of each group

Types of auditing include financial, operational, compliance, and forensic auditing.

• Financial auditing involves examining financial statements to ensure accuracy and compliance with regulations.

• Operational auditing focuses on evaluating the efficiency and effectiveness of internal processes.

• Compliance auditing ensures that an organization is following laws and regulations.

• Forensic auditing involves investigating financial discrepancies and potential fraud.