LTIMindtree Business Finance Manager Interview Questions and Answers

Q1. What is depreciation?
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Q2. Full form of COGS ?
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Q1. Explain budgeting
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Budgeting is the process of creating a plan to manage income and expenses over a specific period of time.
• Involves estimating income and expenses

• Setting financial goals

• Monitoring actual performance against the budget

• Adjusting the budget as needed

• Common types include operating budgets, capital budgets, and cash budgets
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Q2. Explain forecasting
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Forecasting is the process of making predictions about future trends based on past and present data.
• Forecasting involves analyzing historical data to identify patterns and trends

• Different methods such as qualitative and quantitative analysis can be used for forecasting

• Common techniques include time series analysis, regression analysis, and econometric modeling

• Forecasting helps businesses make informed decisions and pla...read more
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Q3. Explain revenue recognition
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Revenue recognition is the process of recording revenue in a company's financial statements when it is earned.
• Revenue is recognized when it is realized or realizable and earned, regardless of when cash is received.

• It is important to match revenues with expenses in the period they are incurred to accurately reflect the financial performance of a company.

• Different industries may have specific guidelines for revenue recog...read more
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Q4. Rent accured ledger entry
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Q5. Why is asset recognised or depreciated in balance sheet
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Assets are recognized in the balance sheet to reflect the company's resources and their value, while depreciation is recorded to allocate the cost of assets over their useful life.
• Assets are recognized in the balance sheet to show the company's resources and their value.

• Depreciation is recorded to allocate the cost of assets over their useful life.

• Recognizing assets and depreciating them helps in accurately reflecting ...read more
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Q1. Account payable?
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Q2. Difference between Profit & Revenue
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Q1. What is the capital market?
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Q1. What is contingent liabilities
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Contingent liabilities are potential liabilities that may arise in the future depending on the outcome of certain events.
• Contingent liabilities are not recorded on the balance sheet but disclosed in the footnotes.

• They are dependent on a future event occurring or not occurring.

• Examples include lawsuits, warranties, and guarantees.

• If the contingent liability is probable and the amount can be estimated, it should be recor
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Q2. What is provision
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Provision is an amount set aside in financial statements to cover anticipated future expenses or losses.
• Provision is a liability that is recognized on the balance sheet.

• It is used to account for potential future expenses or losses that are uncertain but likely to occur.

• Examples of provisions include bad debt provisions, warranty provisions, and restructuring provisions.
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Q1. Tell me about yourself
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Experienced finance executive with a strong background in financial analysis and strategic planning.
• Over 10 years of experience in finance roles

• Expertise in financial modeling and forecasting

• Proven track record of driving profitability and growth

• Strong leadership and communication skills

• Previously worked as a Finance Manager at XYZ Company
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Q2. What is accounting
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Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business.
• Accounting involves recording financial transactions such as sales, purchases, and expenses.

• It includes summarizing the financial data into financial statements like balance sheets and income statements.

• Accounting also involves analyzing the financial information to provide insights for decision-making.

• Rep...read more
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Q1. About revenue recognition
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Q2. Forecasting, Budgeting
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It represents a person's level of competency to perform a certain type of task. Aptitude tests are often used to assess academic potential or career suitability and may be used to assess either mental or physical talent in a variety Domains

Q1. Asking many questions like introduction
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Q2. What is your Qualification
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Q3. Related to our qualification background
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Q4. Our skills and knowledge cheking
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Involve working through a business problem or scenario with the interviewer to reach a logical conclusion.