Paytm Fsc Manager Interview Questions and Answers

Impairment refers to a reduction in the value of an asset on the balance sheet.

• Impairment occurs when the carrying amount of an asset exceeds its recoverable amount.

• It is typically recorded as a non-cash charge on the income statement.

• Common examples include impairment of goodwill, intangible assets, and property, plant, and equipment.

Reconciling GL and subledger involves identifying and resolving discrepancies between the two accounts.

• Compare transactions in GL and subledger to identify discrepancies

• Investigate any differences in balances or transactions

• Adjust entries in GL or subledger to reconcile the accounts

• Ensure proper documentation of reconciliation process

• Communicate with relevant stakeholders to resolve discrepancies