Synaptic Financial Analyst Interview Questions and Answers

Q1. Account payable?
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Q2. Difference between Profit & Revenue
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Q1. What is contingent liabilities
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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
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Q2. What is provision
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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.
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Its related to accounting concepts

Q1. Anything can related to accounts
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Concentrate on the questions and answer accordingly. I am sure it can be cracked within the time limit

Q1. It was an operational round completely based on experience and a situation that you have experience and how you have tackeled it and was there any other way it can be tackled.
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Q1. It was also an operational round and the questions were around the improvement idea's, lean ideas and implementation of those ideas in the process that I am working.
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Q1. It was also an operational round where the questions were acound issues and problems in the transition process. How the improvement ideas have helped in increasing productivity, reducing manual efforts and...read more
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Q1. It was also an operational round in which the questions were basically around how to improve quality of work and implement ideas for a target driven process.
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Q1. This was also an operational round but the questions were more around ensuring quality of work, ensuring one time resolutions and what are the different ways to achieve these with the experience you carry,...read more
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Q1. Management fee how is calculated
Ans. 
Management fee is typically calculated as a percentage of assets under management.
• Management fee is usually calculated as a percentage of the total assets under management.

• The percentage can vary depending on the investment firm and the type of assets being managed.

• For example, a management fee of 1% means that the investor pays 1% of their total assets as a fee each year.

• Management fees are typically charged annually ...read more
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Q2. Private equity and real estate funds
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Q1. Why should we hire you
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I have a strong background in financial analysis, excellent analytical skills, and a proven track record of delivering results.
• I have a Bachelor's degree in Finance and have completed internships at top financial firms.

• I am proficient in financial modeling, forecasting, and data analysis.

• I have a history of identifying cost-saving opportunities and improving financial performance.

• I am a quick learner and have a strong ...read more
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Q2. How to handle financial issue
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Handling financial issues involves analyzing the problem, creating a plan, and implementing solutions.
• Analyze the financial issue to understand the root cause

• Create a detailed plan to address the issue, including budget adjustments or cost-cutting measures

• Implement the plan effectively, monitoring progress and making adjustments as needed

• Seek advice from financial experts or consultants if necessary

• Communicate with sta...read more
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Basic math was easy, also English was easy

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Q1. Golden rules of accounting
Ans. 
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• There are three golden rules of accounting: Debit what comes in, Credit what goes out, Debit the receiver, Credit the giver, Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a com...read more
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Q2. Depreciation, how to compute depreciation while undergoing FA
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Depreciation is calculated by dividing the cost of an asset by its useful life, taking into account salvage value and depreciation method.
• Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.

• Common methods of calculating depreciation include straight-line, double declining balance, and units of production.

• To calculate straight-line depreciation, subtract the salvage value from th...read more
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Q3. Excel questions
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Q4. Treatment of Bad debt
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Bad debt is an uncollectible amount owed by a debtor, typically resulting from credit sales.
• Bad debt is recorded as an expense on the income statement.

• It is important for financial analysts to accurately estimate and account for bad debt.

• Common methods for estimating bad debt include the percentage of credit sales method and the aging of accounts receivable method.

• Examples of bad debt include customers who declare bank
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Q5. Xlookup, vlookup
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