Pratap Technocrats Finance Executive Interview Questions and Answers

P2P process refers to procure-to-pay process which involves all steps from purchasing goods/services to making payment.

• P2P process starts with requisitioning of goods/services by a department.

• Next step involves obtaining quotes, selecting a vendor, and creating a purchase order.

• Goods/services are received, invoices are matched with purchase orders, and payments are made.

• P2P process helps in streamlining procurement and...read more

Contingent liabilities are potential liabilities that may arise in the future, such as lawsuits or warranties.

• Identify and assess the likelihood of the contingent liability occurring

• Estimate the potential financial impact of the liability

• Disclose the contingent liability in the financial statements

• Monitor and reassess the liability regularly