LG Electronics Interview Questions, Process, and Tips for Experienced

Q1. What major change brought IND AS 115
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Q2. What is contingent liability
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Contingent liability is a potential obligation that may arise in the future depending on the outcome of a specific event.
• It is a possible liability that may or may not occur in the future

• It depends on the outcome of a specific event

• It is recorded in the financial statements as a footnote

• Examples include pending lawsuits, warranties, and guarantees
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Q3. How do you deal with conflict with co-worker
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Q4. Difference between accrual and provision
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Accrual is recognition of revenue or expense before payment. Provision is an estimated expense or liability.
• Accrual is recognized when revenue or expense is incurred, regardless of payment.

• Provision is an estimated expense or liability that may or may not occur in the future.

• Accrual is a part of the accounting process, while provision is a part of financial planning.

• Examples of accrual include salaries payable and inte...read more
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Q1. Why should we hire you
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Q2. What is your strenght
Ans. 
My strength lies in my ability to lead and motivate teams towards achieving common goals.
• Effective communication skills

• Strong problem-solving abilities

• Ability to delegate tasks and responsibilities

• Experience in managing diverse teams

• Proven track record of achieving targets and deadlines
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Q1. Operations, manufacturing & PT making parts.
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Team development and team management

Q1. Elaborate your Job experience
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Q2. How to build relationships in accounts
Ans. 
Building relationships in accounts requires active listening, understanding their needs, and consistent communication.
• Actively listen to their concerns and needs

• Understand their business and industry

• Provide solutions that meet their needs

• Consistently communicate and follow up

• Build rapport and trust over time

• Be responsive and available when needed
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Q3. DefineTeam Management in 3 Steps
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Team management involves setting goals, delegating tasks, and providing support to achieve success.
• Establish clear goals and expectations for the team

• Delegate tasks based on individual strengths and skills

• Provide support and feedback to help team members succeed
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