L&T Construction Finance & Accounts Officer Interview Questions and Answers

Finance deals with managing money and investments while accounts deal with recording financial transactions.

• Finance involves analyzing financial data, creating financial plans, and making investment decisions.

• Accounts involve recording financial transactions, preparing financial statements, and maintaining financial records.

• Finance is more strategic and forward-looking while accounts are more focused on historical data...read more

Controlling debtors outstanding involves setting credit policies, monitoring payment schedules, and following up on overdue accounts.

• Establish clear credit policies and payment terms

• Monitor payment schedules and follow up on overdue accounts

• Offer incentives for early payments and penalties for late payments

• Maintain good relationships with customers to encourage timely payments

• Consider outsourcing debt collection to a t

Inventory is valued using the cost method, which involves determining the cost of each item and multiplying it by the number of items in stock.

• Cost method involves determining the cost of each item

• Multiply the cost by the number of items in stock

• Other methods include LIFO, FIFO, and weighted average

• Valuation should be done consistently and accurately

I will manage site finances by implementing effective budgeting, monitoring expenses, and optimizing financial processes.

• Developing and implementing a comprehensive budgeting system

• Monitoring expenses and ensuring they align with the budget

• Analyzing financial data to identify areas for cost optimization

• Implementing financial controls and procedures to minimize risks

• Collaborating with project managers to forecast financ...read more