700+ Vanderlande Industries Interview Questions and Answers

Materiality is the concept of determining the significance or importance of information in financial reporting.

• Materiality refers to the threshold at which information becomes relevant to users of financial statements.

• It is a subjective judgment based on the nature and size of the item or error being evaluated.

• Materiality is determined by considering both quantitative and qualitative factors.

• Quantitative factors include the monetary amount, while qualitative factors include t...read more

Answering SQL related questions on table creation, alteration, and querying with group by and having clauses.

• To create a table with specified columns, use the CREATE TABLE statement with column names and data types.

• To alter a table and add new columns, use the ALTER TABLE statement with ADD COLUMN keyword.

• To create another table with help of existing tables, use the CREATE TABLE statement with SELECT statement.

• To write a query which uses group by clause, use the GROUP BY keyw...read more

Fixed income products are valued in accordance with RBI's valuation Master Circular on Prudential norms.

• Fixed income products are valued based on their market value or fair value.

• The valuation is done by independent valuers or by the issuer's internal valuation committee.

• The valuation should be done at least once a quarter and the results should be reported to the RBI.

• The valuation should take into account factors such as credit risk, interest rate risk, liquidity risk, and m...read more

Code to check if two strings are anagram or not.

• Convert both strings to lowercase to avoid case sensitivity

• Sort both strings and compare them

• Use a hash table to count the frequency of each character in both strings and compare the hash tables

Fundamental Accounting Assumptions are basic principles that guide the preparation of financial statements.

• The assumptions include: Going Concern, Consistency, Accrual, and Materiality

• Going Concern assumes that the company will continue to operate in the foreseeable future

• Consistency assumes that the company will use the same accounting methods and principles from period to period

• Accrual assumes that revenues and expenses are recognized when earned or incurred, regardless of ...read more

STLC stands for Software Testing Life Cycle. It is a process followed to ensure quality in software development.

• STLC involves planning, designing, executing and reporting of tests.

• It includes various stages like requirement analysis, test planning, test design, test execution, and test closure.

• Each stage has its own set of deliverables and objectives.

• STLC helps in identifying defects early in the development cycle, reducing the cost of fixing them later.

• Examples of STLC model...read more

To create a REST API with service method and database queries, follow these pointers.

• Choose a programming language and framework for your API

• Create a service layer to handle business logic

• Use database queries to retrieve and manipulate data

• Map HTTP methods to service methods

• Implement authentication and authorization

• Test your API thoroughly

Normalization is the process of organizing data in a database to reduce redundancy and dependency.

• First Normal Form (1NF) - Eliminate duplicate columns from the same table.

• Second Normal Form (2NF) - Create separate tables for sets of values that apply to multiple records.

• Third Normal Form (3NF) - Eliminate fields that do not depend on the primary key.

• Fourth Normal Form (4NF) - Eliminate multi-valued dependencies.

• Fifth Normal Form (5NF) - Eliminate redundant data using a join ...read more

Java collections are a group of classes and interfaces used to store and manipulate groups of objects.

• To print elements in reverse order, use the Collections.reverse() method.

• This method takes a List as an argument and reverses the order of its elements.

• Example: List names = new ArrayList<>(); Collections.reverse(names);

• Other commonly used collections in Java include Set, Map, Queue, and Stack.

Explaining the difference between WHERE and HAVING clause and types of joins with examples.

• WHERE clause is used to filter rows based on a condition while HAVING clause is used to filter groups based on a condition

• INNER JOIN returns only the matching rows from both tables while LEFT JOIN returns all rows from the left table and matching rows from the right table

• Combining two tables can be done using JOIN clause with a common column between them

• Example: SELECT * FROM table1 INN...read more

Spring framework is a popular Java framework used for building web applications.

• Create a Spring project using Spring Initializr

• Define beans using annotations or XML configuration

• Inject dependencies using @Autowired or constructor injection

• Use Spring MVC for web development

• Integrate with databases using Spring Data

• Secure applications using Spring Security

• Test applications using Spring Test

• Deploy applications using Spring Boot

To identify the genuine mail, check the sender's email address and verify the content and attachments.

• Check the sender's email address for any discrepancies or variations.

• Verify the content of the email for any grammatical errors or suspicious requests.

• Check the attachments for any malware or suspicious file types.

• Contact the sender directly to confirm the authenticity of the email.

• Use email filtering and anti-phishing software to prevent such emails from reaching your inbox.

My preferred programming language is Python.

• Python is easy to learn and has a simple syntax.

• It has a vast library of modules and frameworks for various purposes.

• Python is widely used in data science and machine learning.

• It is also great for web development and automation tasks.

• Examples: Flask, Django, NumPy, Pandas, TensorFlow.

I would like to work on Artificial Intelligence.

• Developing machine learning algorithms for predictive analysis

• Creating chatbots for customer service

• Implementing computer vision for object recognition

• Exploring natural language processing for sentiment analysis

Code to print the second largest element in array

• Sort the array in descending order and return the second element

• Iterate through the array and keep track of the largest and second largest elements

• Use a priority queue to find the second largest element

Ind AS 115 and Ind AS 116 are accounting standards used for revenue recognition and lease accounting respectively.

• Ind AS 115: It provides guidance on how to recognize revenue from contracts with customers.

• Ind AS 116: It outlines the principles for recognizing, measuring, presenting, and disclosing leases.

• Both standards are part of the Indian Accounting Standards (Ind AS) framework.

• Ind AS 115 replaces the previous revenue recognition standard (Ind AS 18) and provides a compreh...read more

I demonstrated my ability to communicate effectively during a team project.

• I actively listened to my team members' ideas and concerns.

• I provided clear and concise instructions to ensure everyone understood their roles and responsibilities.

• I encouraged open communication and feedback throughout the project.

• I presented our team's findings and recommendations to our supervisor in a clear and organized manner.

• As a result, our team received positive feedback and recognition for ou...read more

Adverse and qualified opinions in auditing and how to check payables and receivables.

• Adverse opinion is given when the financial statements are materially misstated and the auditor is unable to obtain sufficient evidence to support the amounts and disclosures in the statements.

• Qualified opinion is given when the financial statements are fairly presented except for a specific matter that is disclosed in the opinion.

• To check payables, review the accounts payable aging report an...read more

The team strength for the teams I facilitated Scrum ranged from 5 to 10 members.

• Team sizes varied based on the project requirements and complexity

• Smaller teams of 5 members were more efficient for quick decision-making

• Larger teams of 10 members were beneficial for complex projects requiring diverse skill sets

Spring Boot uses RestTemplate or FeignClient to connect to other microservices.

• Use RestTemplate to make HTTP requests to other microservices.

• Use FeignClient to create a client interface for other microservices.

• Configure the URL and port of the microservice in the application.properties file.

• Use @Autowired annotation to inject RestTemplate or FeignClient in the service class.

• Handle exceptions and errors when connecting to other microservices.

Query to fetch second highest salary in SQL

• Use ORDER BY and LIMIT to select the second highest salary

• Assuming the table name is 'employees' and salary column name is 'salary':

• SELECT salary FROM employees ORDER BY salary DESC LIMIT 1,1

STLC is a process of testing software from planning to deployment. It includes planning, designing, executing, and reporting.

• Planning phase involves defining scope, objectives, and test strategy.

• Design phase includes creating test cases, test scenarios, and test data.

• Execution phase involves running test cases, reporting defects, and retesting.

• Reporting phase includes preparing test summary reports and defect reports.

• STLC ensures that software meets quality standards and cust...read more

Answering questions about capital gains, income tax heads, and financial statements.

• Capital gains can be short-term or long-term, with different tax rates applied to each.

• Income tax heads include salary, business/profession, capital gains, house property, and other sources.

• An example of long-term capital gain is selling a property after holding it for more than 2 years.

• An example of short-term capital gain is selling stocks after holding them for less than 1 year.

• Issue of sha...read more

A singleton class is a class that can only have one instance at a time.

• To achieve a singleton class, we need to make the constructor private so that it cannot be instantiated from outside the class.

• We then create a static method that returns the instance of the class, and if the instance does not exist, it creates one.

• Singleton classes are often used for managing resources that should only have one instance, such as database connections or configuration settings.

Design patterns are reusable solutions to common software problems in Java.

• Design patterns provide a standard way to solve common problems in software development.

• They help in making code more maintainable, flexible and reusable.

• Examples of design patterns include Singleton, Factory, Observer, and Decorator.

• Design patterns can be categorized into three types: creational, structural, and behavioral.

P2P and O2C are two different processes in accounting. P2P stands for Procure-to-Pay and O2C stands for Order-to-Cash.

• P2P involves the process of purchasing goods or services from a vendor, receiving the goods or services, and then paying the vendor for the goods or services.

• O2C involves the process of receiving an order from a customer, fulfilling the order, and then receiving payment from the customer.

• Both processes are important for internal audit as they involve financial...read more

Fixed income and money products in India refer to investment options that provide a fixed return on investment.

• Fixed income products include government bonds, corporate bonds, and fixed deposits.

• Money products include savings accounts, money market funds, and treasury bills.

• Fixed income and money products are popular among risk-averse investors.

• Interest rates on fixed income products are influenced by factors such as inflation and monetary policy.

• The Reserve Bank of India reg...read more

Yes, the acquisition should be done.

• The acquisition would allow the South American toffee manufacturer to expand its product portfolio and enter the premium chocolate market.

• It would provide access to European distribution channels and a well-established brand in the European market.

• Synergies can be achieved through shared resources, economies of scale, and cross-selling opportunities.

• The acquisition may lead to increased market share and competitive advantage.

• Cultural differ...read more

Depreciation methods and asset life are important factors in financial accounting.

• Depreciation methods include straight-line, double-declining balance, and units of production.

• Asset life varies by category, such as buildings, vehicles, and equipment.

• The useful life of a building may be 40 years, while a vehicle may have a useful life of 5 years.

• Depreciation is important for accurately reporting the value of assets on financial statements.

Filter student data from database using specific logics

• Filter students by grade level

• Filter students by gender

• Filter students by attendance record

• Filter students by GPA

• Filter students by extracurricular activities

Normalization is the process of organizing data in a database to reduce redundancy and improve data integrity.

• Normalization involves breaking down a database into smaller, more manageable tables.

• Each table should have a primary key and only contain data that is related to that key.

• Normalization helps to prevent data inconsistencies and anomalies.

• There are different levels of normalization, with each level building on the previous one.

• For example, first normal form (1NF) requi...read more

The Government Securities Market in India is a platform for trading government securities.

• Government Securities Market is regulated by the Reserve Bank of India.

• It is a platform for trading government securities like treasury bills, bonds, and securities issued by the central and state governments.

• The market is open to all investors including individuals, banks, financial institutions, and foreign investors.

• The market is an important source of funding for the government.

• The m...read more

Approximately 700 airplanes take off and land at Mumbai airport daily.

• Consider the average number of flights per day at Mumbai airport

• Factor in peak travel times and seasonal variations

• Take into account the types of aircrafts that operate at the airport

The retailer client is experiencing a decline in revenue, analyze the cause.

• Conduct a thorough analysis of the retailer's financial statements to identify any trends or patterns in revenue decline.

• Evaluate the competitive landscape to see if new competitors have entered the market or existing competitors have gained market share.

• Assess the retailer's marketing and advertising strategies to determine if they are effectively reaching their target audience.

• Consider external fact...read more

Catch block is used to handle exceptions that occur during program execution.

• Catch block is used in conjunction with try block.

• It catches and handles exceptions that occur in the try block.

• Multiple catch blocks can be used to handle different types of exceptions.

• Finally block can be used to execute code regardless of whether an exception was thrown or not.

• Example: try { //code that may throw exception } catch (Exception e) { //handle the exception } finally { //code that will...read more

To build automation capability, I will focus on identifying areas for automation, selecting appropriate tools, and training the team.

• Conduct a thorough analysis of the organization's processes to identify areas for automation

• Select appropriate automation tools based on the identified areas

• Train the team on the selected tools and provide ongoing support

• Develop a roadmap for automation implementation and prioritize tasks based on impact and feasibility

• Collaborate with stakehold...read more

Interview questions for Senior Associate position in Python and Robot Framework

• To find number of occurrences of each word in a string in a dictionary in Python, use the Counter module from collections library

• To reverse a sentence in Python, split the sentence into words, reverse the order of words and join them back into a sentence

• Robot Framework tags syntax is used to categorize test cases and control their execution

• Python based questions can cover topics like data types, co...read more

Types of sampling include random, systematic, stratified, and cluster. Test of details involves examining individual transactions while substantive analytical procedures involve analyzing trends and ratios.

• Random sampling involves selecting items randomly from the population.

• Systematic sampling involves selecting items at regular intervals.

• Stratified sampling involves dividing the population into subgroups and selecting items from each subgroup.

• Cluster sampling involves selec...read more

An audit programme is a plan of action outlining the steps to be taken during an audit.

• An audit programme outlines the objectives, scope, and methodology of the audit.

• It includes a list of audit procedures to be performed.

• It also includes a timeline for the audit and the roles and responsibilities of the audit team.

• Examples of audit programmes include financial audits, operational audits, and compliance audits.

Identifying risks and controls in a process

• Identify the process and its objectives

• Identify the inputs, activities, and outputs of the process

• Identify the risks associated with each step of the process

• Identify the controls in place to mitigate the risks

• Evaluate the effectiveness of the controls

• Recommend improvements to the process and controls

• Examples: Order-to-cash process, procurement process, hiring process

PWC is a multinational professional services network.

• PWC stands for PricewaterhouseCoopers.

• It provides services in audit, tax, and advisory.

• It operates in over 150 countries.

• Some of its clients include Coca-Cola, Google, and Microsoft.

• It is one of the Big Four accounting firms.

Accounts Receivable audit involves verifying the accuracy and completeness of the recorded transactions.

• Verify the existence of the receivables by sending confirmations to customers.

• Check the accuracy of the recorded amounts by comparing them to supporting documents.

• Review the aging of the receivables to identify any potential issues with collection.

• Assess the adequacy of the allowance for doubtful accounts.

• Test the completeness of the recorded transactions by reviewing cutof...read more

I have a good level of knowledge about renewables.

• I have studied renewable energy sources such as solar, wind, hydro, and geothermal power.

• I am aware of the benefits of using renewables, such as reducing carbon emissions and promoting sustainability.

• I have also kept up to date with the latest developments and innovations in the field.

• For example, I know about the increasing use of energy storage systems to improve the reliability of renewable energy sources.

• Overall, I am conf...read more

Steps in revenue recognition under Ind AS 115

• Identify the contract with the customer

• Identify the performance obligations in the contract

• Determine the transaction price

• Allocate the transaction price to the performance obligations

• Recognize revenue when (or as) the entity satisfies a performance obligation

To check application of IND AS while checking depreciation, one needs to ensure that the accounting policies and disclosures comply with the relevant standards.

• Check if the company has adopted IND AS and if it is applicable to the company

• Check if the company has followed the relevant accounting policies for depreciation as per IND AS

• Check if the company has made the required disclosures related to depreciation as per IND AS

• Compare the financial statements of the current year ...read more

SIR models are used for infectious disease forecasting, incorporating compartments for susceptible, infected, and recovered individuals.

• SIR models focus on the dynamics of infectious diseases by dividing the population into compartments of susceptible, infected, and recovered individuals.

• Regular forecasting models typically do not consider the spread of infectious diseases and do not incorporate compartments for different disease states.

• SIR models allow for the estimation of ...read more

MNCs have suffered data breaches, but recovery is possible.

• In 2013, Target suffered a data breach that affected 40 million customers. They recovered by investing in cybersecurity and offering free credit monitoring to affected customers.

• In 2017, Equifax suffered a data breach that exposed the personal information of 143 million customers. They recovered by offering free credit monitoring and identity theft protection to affected customers.

• MNCs can recover from data breaches b...read more

Materiality level is set based on the significance of financial information to users of financial statements.

• Consider the size and nature of the item or error

• Assess the impact on financial statements and key ratios

• Evaluate the effect on users' decisions

• Use professional judgment and consider relevant laws and regulations

• Document the rationale for materiality level chosen

Exempted lease refers to a lease that is not required to be recognized on the balance sheet as per Ind AS 116.

• Exempted leases include leases with a lease term of 12 months or less and leases of low-value assets.

• Leases of intangible assets and leases of biological assets are also exempted.

• Leases where the underlying asset is of low value when new, such as personal computers or small items of office furniture, are also exempted.

• Exempted leases do not require the lessee to recog...read more

The options available if TDS is not deposited on time include paying interest, facing penalties, and potential legal action.

• Pay interest on the late deposit

• Face penalties for delayed payment

• Risk potential legal action for non-compliance

Earthquakes occur due to the movement of tectonic plates. Metamorphosis is the process of transformation in living organisms.

• Earthquakes occur when two tectonic plates move against each other, causing a release of energy in the form of seismic waves.

• Metamorphosis is a process of transformation in living organisms, where an organism undergoes a physical change in form and structure.

• Examples of metamorphosis include the transformation of a caterpillar into a butterfly and the t...read more

To improve ESG strategy for Logistics, focus on reducing carbon footprint, promoting sustainable practices, and increasing transparency.

• Implement green transportation methods such as electric vehicles and alternative fuels

• Encourage suppliers to adopt sustainable practices

• Increase transparency by reporting on ESG metrics and progress

• Invest in renewable energy sources for warehouses and distribution centers

• Develop a comprehensive waste management plan

• Partner with organizations ...read more

I have worked on various projects, including RFPs and EOIs. I am familiar with different types of RFPs, including fixed cost RFPs.

• I have experience working on projects that involve responding to RFPs and EOIs.

• I am familiar with different types of RFPs, such as open RFPs, closed RFPs, and sealed RFPs.

• I have worked on fixed cost RFPs, where the budget is predetermined and the vendor must work within that budget.

• EOI stands for Expression of Interest, which is a document used to ...read more

To give a 10% discount for orders over 10 lac, configure a pricing procedure with a condition type and scale basis.

• Create a new condition type in pricing procedure

• Set the condition type to a percentage discount

• Set the scale basis to the total order value

• Set the scale to 10 lac

• Assign the condition type to the pricing procedure

• Test the pricing procedure with a sample order

Environmental and social issues faced by cement industry

• Air pollution from dust and emissions

• Water pollution from wastewater and runoff

• Land degradation and habitat destruction from quarrying

• Occupational health and safety concerns for workers

• Community health impacts from exposure to pollutants

• Social and economic impacts on local communities

• Carbon emissions contributing to climate change

• Waste management and disposal

• Resource depletion and unsustainable use of raw materials

Questions related to income tax, deductions, bank reconciliation, financial ratios, and formulas.

• Tax slab determines the rate at which an individual or entity is taxed based on their income.

• Head of income tax is the person responsible for overseeing the collection of income tax.

• Exemption is a portion of income that is not subject to tax, while deduction is an expense that can be subtracted from taxable income.

• Deduction limit in 80C is Rs. 1.5 lakh and in 80TTA is Rs. 10,000.

• B...read more

The Order-to-Cash process involves receiving and fulfilling customer orders, with risks including fraud and errors.

• Order entry and validation

• Inventory management and order fulfillment

• Invoicing and payment processing

• Risks include fraudulent orders, errors in order fulfillment or invoicing, and delays in payment processing

• Controls include order verification, inventory tracking, invoice review, and payment reconciliation

I am an experienced Associate with knowledge in audit assertions, materiality, benchmarking in audit, and revenue recognition as per Ind AS.

• Audit assertions are the representations made by management regarding the financial statements.

• There are five main audit assertions: existence, completeness, valuation or allocation, rights and obligations, and presentation and disclosure.

• For example, existence assertion ensures that the recorded assets and liabilities actually exist.

• Mate...read more

BRD stands for Business Requirements Document which outlines the business solution for a project. It is different from FRD which focuses on functional requirements.

• BRD defines the business solution and the business needs that drive the project.

• BRD includes information on business objectives, scope, stakeholders, risks, assumptions, constraints, and success criteria.

• FRD focuses on the functional requirements of the system, detailing how the system should behave.

• FRD includes de...read more

To make the system secure from a user point of view, I would implement strong authentication measures and educate users on safe browsing habits.

• Implement multi-factor authentication

• Enforce strong password policies

• Regularly update and patch software

• Provide security awareness training to users

• Restrict user access to sensitive data

• Monitor user activity for suspicious behavior

Ind AS 116 is a new accounting standard that replaces the old lease accounting standard.

• Ind AS 116 is effective from April 1, 2019.

• Its objective is to provide a single lessee accounting model that requires lessees to recognize assets and liabilities for all leases with a term of more than 12 months.

• Operating leases are treated as off-balance sheet financing, while financial leases are treated as on-balance sheet financing.

• Under operating leases, the lessee only recognizes lea...read more

Losses in pipes and designing a water system for a multi-storey building

• Losses in pipes refer to the energy or pressure drop that occurs as water flows through the system.

• There are various types of losses in pipes, including friction losses, fittings losses, and elevation losses.

• To design a water system for a multi-storey building, factors such as water demand, pipe sizing, pressure requirements, and system layout need to be considered.

• Proper calculations and hydraulic analys...read more

GST has replaced multiple indirect taxes with a single tax. Recent changes include simplified return filing and reduced rates for certain items.

• GST has replaced multiple indirect taxes like VAT, excise duty, service tax, etc.

• It has simplified the tax structure and reduced the cascading effect of taxes.

• Recent changes include the introduction of simplified return filing through GST Sahaj and GST Sugam.

• GST rates have been reduced for items like movie tickets, electric vehicles, ...read more

Audit of Balance Sheet and Profit & Loss A/c involves verifying the accuracy of financial statements.

• Verify the accuracy of account balances and transactions

• Check for proper classification and presentation of financial data

• Ensure compliance with accounting standards and regulations

• Perform analytical procedures to identify unusual transactions or trends

• Confirm balances with third-party sources

• Review supporting documentation for transactions

• Assess the adequacy of disclosures in...read more

Capacity planning involves analyzing current and future resource needs to ensure optimal performance and efficiency.

• Assess current resource utilization and performance levels

• Forecast future demand based on historical data and growth projections

• Identify potential bottlenecks or areas of inefficiency

• Allocate resources accordingly to meet demand without over-provisioning

• Regularly review and adjust capacity plans as needed

Sprint planning involves setting goals, prioritizing tasks, estimating effort, and assigning work for the upcoming sprint.

• Discuss goals and objectives for the sprint with the team

• Prioritize the backlog items based on importance and dependencies

• Estimate the effort required for each task using story points or other metrics

• Assign tasks to team members based on their skills and availability

• Create a sprint backlog detailing the tasks to be completed during the sprint

Yes, it is possible to create a billing document to the customer before invoice receipt in a third-party process.

• In a third-party process, the billing document is created based on the sales order.

• The billing document serves as a request for payment from the customer.

• The actual invoice is created once the invoice receipt is received from the third-party vendor.

• This allows the company to initiate the billing process and track the payment status.

• Example: A company sells a produc...read more

Error is a mistake in code syntax or logic, while exception is an unexpected event during program execution.

• Errors are caused by mistakes in code, such as syntax errors or logical errors.

• Exceptions are unexpected events that occur during program execution, such as a division by zero or a file not found error.

• Errors can be caught and fixed during development, while exceptions are handled during runtime.

• Errors can cause the program to crash, while exceptions can be handled and ...read more

The cost of assets is shown on the balance sheet, with market value disclosed in the notes if listed.

• Cost of assets is typically shown on the balance sheet under the relevant category

• If assets are listed on a stock exchange, their market value may be disclosed in the notes to the financial statements

• Market value may fluctuate and is not always the same as cost

PwC's core values include teamwork, excellence, and leadership. They strive to meet current and future expectations through innovation and collaboration.

• PwC values teamwork, excellence, and leadership

• They prioritize innovation and collaboration to meet current and future expectations

• PwC aims to provide quality service to clients and contribute to society

• They prioritize diversity and inclusion in their workforce

• PwC encourages continuous learning and development for their emplo...read more

Futures and options are financial derivatives that allow investors to hedge risk or speculate on price movements. Futures are standardized contracts traded on exchanges, while options give the holder the right, but not the obligation, to buy or sell an asset at a specified price.

• Futures are standardized contracts traded on exchanges, where parties agree to buy or sell an asset at a predetermined price on a future date.

• Options give the holder the right, but not the obligation,...read more

Materiality, audit risk, and assertions are important concepts in auditing.

• Materiality refers to the significance of an item or transaction in the financial statements.

• Audit risk is the risk that the auditor may issue an incorrect opinion on the financial statements.

• Assertions are the representations made by management in the financial statements.

• There are five types of assertions: existence, completeness, accuracy, valuation, and presentation and disclosure.

• Auditors use mate...read more

Functional testing checks if the software functions as expected, while non-functional testing checks the performance, usability, security, etc.

• Functional testing focuses on the specific functionality of the software

• Non-functional testing focuses on aspects like performance, usability, security, etc.

• Examples of functional testing include unit testing, integration testing, and system testing

• Examples of non-functional testing include load testing, stress testing, and security te...read more

Performance testing focuses on evaluating the speed, responsiveness, and stability of a system under a specific workload, while capacity testing assesses the system's ability to handle a certain level of traffic or data volume over time.

• Performance testing measures the speed, responsiveness, and stability of a system under a specific workload.

• Capacity testing evaluates the system's ability to handle a certain level of traffic or data volume over time.

• Performance testing helps...read more

Encryption-decryption is the process of converting plain text into a coded message and then back to plain text. Cryptography is the study of secure communication techniques.

• Encryption is the process of converting plain text into a coded message using an algorithm and a key.

• Decryption is the process of converting the coded message back to plain text using the same algorithm and key.

• Cryptography involves techniques for secure communication, including encryption, decryption, and...read more

Management representation letter is a written statement from management to auditors confirming the accuracy of financial information.

• It is a letter from management to auditors

• It confirms the accuracy of financial information

• It is a standard part of the audit process

• It is used to provide evidence of management's responsibility for financial statements

• It may include information on internal controls and potential fraud

• Examples of information included in the letter are bank balan...read more

Debt issuance cost/loan processing fees/transaction cost are capitalized and amortized over the life of the loan.

• Debt issuance cost/loan processing fees/transaction cost are costs incurred in obtaining a loan.

• These costs are capitalized and amortized over the life of the loan.

• The amortization of these costs reduces the effective interest rate of the loan.

• The accounting treatment for these costs is in accordance with the guidance in ASC 835-30.

• Examples of these costs include l...read more

Audit assertions are the claims made by management regarding the accuracy and completeness of financial statements.

• Audit assertions are used by auditors to assess the risk of material misstatement in financial statements.

• There are six types of audit assertions: existence, completeness, accuracy, valuation, rights and obligations, and presentation and disclosure.

• For example, existence assertion refers to whether the assets and liabilities actually exist, while completeness ass...read more

I would use the quicksort algorithm to efficiently sort the given series of unsorted numbers.

• Implement the quicksort algorithm by selecting a pivot element and partitioning the array into two sub-arrays based on the pivot.

• Recursively apply the quicksort algorithm to the sub-arrays until the entire array is sorted.

• Time complexity of quicksort is O(n log n) on average, making it a good choice for sorting large datasets.

Query to retrieve all customer names starting with A.

• Use the SELECT statement to retrieve customer names.

• Use the LIKE operator with the pattern 'A%' to match names starting with A.

• Specify the table and column name where the customer names are stored.

• Example: SELECT customer_name FROM customers WHERE customer_name LIKE 'A%';

Azure Data Factory provides various activities for data movement and transformation.

• Copy Activity: Moves data between supported data stores

• Data Flow Activity: Transforms data using mapping data flows

• Execute Pipeline Activity: Invokes another pipeline within the current pipeline

• Lookup Activity: Retrieves data from a specified dataset

• Web Activity: Calls a web endpoint

• ForEach Activity: Iterates over a collection and executes specified activities

SDLC process involves planning, designing, developing, testing, and deploying software.

• 1. Planning phase involves defining project scope, requirements, and creating a project plan.

• 2. Design phase includes creating system architecture, database design, and user interface design.

• 3. Development phase involves coding, unit testing, and integration testing.

• 4. Testing phase includes system testing, user acceptance testing, and fixing bugs.

• 5. Deployment phase involves releasing the ...read more

Discrepancies identified during experienced IA client engagements

• Identified discrepancies in financial statements such as misstatements or errors

• Discovered inconsistencies in internal controls leading to potential risks

• Uncovered discrepancies in inventory counts or valuation methods

• Identified discrepancies in compliance with regulatory requirements

• Found discrepancies in data analysis or reporting processes

Artificial intelligence can both support and disrupt employment depending on the industry and job roles.

• AI can automate repetitive and mundane tasks, leading to job loss in industries like manufacturing and customer service.

• However, AI can also create new job opportunities in fields like data science and AI development.

• AI can also enhance productivity and efficiency, leading to job growth in industries that adopt it.

• It is important for individuals and organizations to adapt a...read more

Cyber security refers to the practice of protecting computer systems, networks, and sensitive information from unauthorized access, use, disclosure, disruption, modification, or destruction.

• Cyber security involves a range of technologies, processes, and practices designed to safeguard digital assets.

• It includes measures such as firewalls, antivirus software, encryption, and intrusion detection systems.

• Cyber security also involves educating users about safe online behavior and...read more

Assertions for Accounts Payable and testing unrecorded liabilities.

• Assertions for Accounts Payable include completeness, accuracy, existence, valuation, and rights and obligations.

• To test for unrecorded liabilities, perform a search for unrecorded liabilities by reviewing vendor invoices, purchase orders, and receiving reports.

• Another way to test for unrecorded liabilities is to review subsequent cash disbursements after the balance sheet date.

• Confirmations with vendors can a...read more

My comfortable coding language is Python.

• Python is versatile and easy to read

• I have experience with libraries like Pandas and NumPy

• I have used Python for web development projects

Recent changes in form 1120 include updates related to the CARES Act.

• Changes to form 1120 include modifications to net operating losses (NOLs) carrybacks and carryforwards.

• The CARES Act allows for a five-year carryback of NOLs for tax years beginning after December 31, 2017, and before January 1, 2021.

• The CARES Act also temporarily removes the 80% taxable income limitation for NOL deductions for tax years beginning before January 1, 2021.

Cashflow statements show how cash is generated and used, while balance sheets show the financial position of a company at a specific point in time.

• Cashflow statements explain changes in cash balances over a period, while balance sheets provide a snapshot of assets, liabilities, and equity at a specific date.

• Both cashflow statements and balance sheets are essential financial statements used by investors, creditors, and management to assess the financial health of a company.

• The...read more

Answering questions on revenue recognition, AR checking, and audit opinion.

• For returnable policy goods, revenue is recognized only when the customer confirms acceptance of the goods.

• AR checking involves verifying the accuracy of the accounts receivable balance by reviewing invoices, payments, and credit memos.

• At year end, AR checking involves confirming outstanding balances with customers and assessing the collectability of any doubtful accounts.

• Audit opinion is the conclusio...read more