Physicswallah Finance Executive Interview Questions and Answers

3 Way matching process is a method of verifying the accuracy of invoices by comparing purchase orders, receipts, and invoices.

• It involves comparing three documents: purchase order, goods receipt note, and invoice.

• The purchase order is created by the buyer and contains details of the goods or services to be purchased.

• The goods receipt note is created by the receiver of the goods and confirms that the goods have been rec...read more

Yes, I have experience of working on Oracle ERP system.

• I have worked on Oracle ERP system for 2 years in my previous job.

• I am proficient in using Oracle Financials and Oracle Procurement modules.

• I have experience in configuring and customizing Oracle ERP system to meet business requirements.

• I have also provided training to new users on how to use Oracle ERP system.

Provision for doubtful debts is an estimated amount set aside to cover potential losses from customers who may not pay their debts.

• The accounting entry for provision for doubtful debts is a debit to the provision for doubtful debts account and a credit to the bad debt expense account.

• This is necessary because it helps to accurately reflect the true value of accounts receivable on the balance sheet.

• Without this provisio...read more