L&T Heavy Civil Infrastructure Mechanical Foreman Interview Questions and Answers

Reconciliation accounts are maintained to ensure accuracy and consistency in financial records.

• Helps in identifying discrepancies between different accounts

• Ensures accuracy and consistency in financial statements

• Facilitates easy tracking of transactions and balances

• Aids in detecting errors or fraud in accounting records

Company code level is maintained for global settings applicable to all clients, while client level is maintained for specific settings unique to each client.

• Company code level settings include currency, chart of accounts, and fiscal year variants.

• Client level settings include customer master data, vendor master data, and sales organization data.

Blueprint phases include planning, designing, and implementation. Tables are used to organize data in a structured format.

• Blueprint phases: planning, designing, implementation

• Tables: organize data in structured format

• Examples: creating a blueprint for a new building, using tables in a database to store information

Bank reconciliation involves comparing the bank statement with the company's records to ensure they match, while validations involve verifying the accuracy and completeness of financial transactions.

• Bank reconciliation ensures that the company's records match the bank statement by comparing deposits, withdrawals, and other transactions.

• Validations involve verifying the accuracy and completeness of financial transaction...read more