Santhosh kumar Financial Analyst Interview Questions and Answers

Budgeting involves creating a financial plan for a specific period, while forecasting predicts future financial outcomes.

• Budgeting is a detailed plan that outlines expected income and expenses for a specific period, usually a year.

• Forecasting is an estimate of future financial outcomes based on historical data and trends.

• Budgeting focuses on setting financial targets and allocating resources accordingly.

• Forecasting hel...read more

Revenue recognition concepts refer to the principles and guidelines used to determine when and how revenue should be recognized in financial statements.

• Revenue should be recognized when it is earned and realized or realizable

• Revenue recognition should be based on the substance of the transaction, not just the form

• Revenue should be recognized at the fair value of the consideration received or receivable

• Revenue recogniti...read more