SCI India Limited Finance Assistant Interview Questions and Answers

Q1. What is depreciation?
Add your answer
Q2. Full form of COGS ?
Add your answer

Q1. Explain budgeting
Ans. 
Budgeting is the process of creating a plan to manage income and expenses over a specific period of time.
• Involves estimating income and expenses

• Setting financial goals

• Monitoring actual performance against the budget

• Adjusting the budget as needed

• Common types include operating budgets, capital budgets, and cash budgets
Answered by AI
Add your answer
Q2. Explain forecasting
Ans. 
Forecasting is the process of making predictions about future trends based on past and present data.
• Forecasting involves analyzing historical data to identify patterns and trends

• Different methods such as qualitative and quantitative analysis can be used for forecasting

• Common techniques include time series analysis, regression analysis, and econometric modeling

• Forecasting helps businesses make informed decisions and pla...read more
Answered by AI
Add your answer
Q3. Explain revenue recognition
Ans. 
Revenue recognition is the process of recording revenue in a company's financial statements when it is earned.
• Revenue is recognized when it is realized or realizable and earned, regardless of when cash is received.

• It is important to match revenues with expenses in the period they are incurred to accurately reflect the financial performance of a company.

• Different industries may have specific guidelines for revenue recog...read more
Answered by AI
Add your answer
Q4. Rent accured ledger entry
Add your answer
Q5. Why is asset recognised or depreciated in balance sheet
Ans. 
Assets are recognized in the balance sheet to reflect the company's resources and their value, while depreciation is recorded to allocate the cost of assets over their useful life.
• Assets are recognized in the balance sheet to show the company's resources and their value.

• Depreciation is recorded to allocate the cost of assets over their useful life.

• Recognizing assets and depreciating them helps in accurately reflecting ...read more
Answered by AI
Add your answer

Q1. Account payable?
Add your answer
Q2. Difference between Profit & Revenue
Add your answer

Q1. What is contingent liabilities
Ans. 
Contingent liabilities are potential liabilities that may arise in the future depending on the outcome of certain events.
• Contingent liabilities are not recorded on the balance sheet but disclosed in the footnotes.

• They are dependent on a future event occurring or not occurring.

• Examples include lawsuits, warranties, and guarantees.

• If the contingent liability is probable and the amount can be estimated, it should be recor
Answered by AI
Add your answer
Q2. What is provision
Ans. 
Provision is an amount set aside in financial statements to cover anticipated future expenses or losses.
• Provision is a liability that is recognized on the balance sheet.

• It is used to account for potential future expenses or losses that are uncertain but likely to occur.

• Examples of provisions include bad debt provisions, warranty provisions, and restructuring provisions.
Answered by AI
Add your answer

FINANCE and social medias, politicals

Q1. Basic Finance questions
Add your answer
Q2. FINANCE services
Add your answer

Q1. Finance and development organisation
Add your answer

Basic communication skills

Q1. Ask to resume model
Add your answer

Q1. Ask to knowledge skills for financial
Add your answer

Q1. Self introduction
Add your answer
Q2. What is finance
Ans. 
Finance is the management of money and other assets, including investments, budgeting, and financial planning.
• Finance involves managing money and assets to achieve financial goals.

• It includes activities such as budgeting, investing, and financial planning.

• Finance helps individuals and organizations make informed financial decisions.

• Examples of finance include managing a company's cash flow, investing in stocks and bond
Answered by AI
Add your answer

Q1. What do you know about ICICI sales
Ans. 
ICICI sales refers to the sales activities and strategies of ICICI Bank, one of the largest private sector banks in India.
• ICICI Bank offers a wide range of financial products and services to individual and corporate customers.

• The bank utilizes various channels such as branches, online platforms, and mobile apps to drive sales.

• ICICI Bank often runs promotional campaigns and offers discounts to attract new customers and ...read more
Answered by AI
Add your answer
Q2. What do you know about your local area
Add your answer

Q1. Tell me about yourself
Add your answer
Q2. Basic questions about finance
Add your answer
Q3. What exactly are you looking for in this internship?
Add your answer
Q4. Available to join immediately
Add your answer
Q5. About previous job/internship & certifications if any!
Add your answer