Novartis Senior Specialist Interview Questions, Process, and Tips

Bad debt provision and bad debt reserves are accounting measures used to estimate and set aside funds for potential losses from customers who may not pay their debts.

• Bad debt provision is an estimated amount set aside on the income statement to cover potential losses from customers who may default on their payments.

• Bad debt reserves are funds set aside on the balance sheet to cover potential losses from customers who m...read more

Journal entry for fixed assets involves debiting the fixed asset account and crediting the cash or accounts payable account.

• Debit the fixed asset account for the cost of the asset

• Credit the cash or accounts payable account for the same amount

• Include any additional costs such as installation or transportation in the fixed asset account

• Depreciation expense is recorded separately over the useful life of the asset

The process flow of fixed assets involves acquisition, tracking, depreciation, and disposal of tangible assets.

• Acquisition: Purchasing or acquiring fixed assets such as equipment, machinery, or property.

• Tracking: Recording and monitoring the usage and value of fixed assets over time.

• Depreciation: Calculating and accounting for the decrease in value of fixed assets over their useful life.

• Disposal: Selling, scrapping, or...read more

AUC stands for Area Under the Curve and is a metric used to evaluate the performance of a classification model.

• AUC is a value between 0 and 1, where a higher value indicates a better model performance.

• It is commonly used in machine learning to compare different models and select the best one.

• The process of fixed assets involves recording and tracking the value of tangible assets owned by a company over time.

• This includ...read more