Thermax Limited Senior Executive - Finance Interview Questions, Process, and Tips

Budgeting involves setting financial goals and limits for a specific period, while forecasting predicts future financial outcomes based on current data and trends.

• Budgeting is a plan for how to allocate resources over a specific period, typically a year.

• Forecasting involves predicting future financial outcomes based on historical data and trends.

• Budgeting is more focused on setting financial goals and limits, while for...read more

Accrued exp refers to expenses that have been incurred but not yet paid for.

• Accrued expenses are recorded as liabilities on the balance sheet.

• They represent expenses that have been recognized but not yet paid.

• Examples include accrued salaries, interest, and taxes.

• Accrued expenses are typically adjusted at the end of an accounting period.

Post variance analysis is treated by identifying root causes, developing action plans, and monitoring progress.

• Identify the root causes of the variances to understand why they occurred

• Develop action plans to address the identified issues and improve future performance

• Monitor progress regularly to ensure that the action plans are being implemented effectively

• Communicate findings and recommendations to relevant stakehold

Bank reconciliation involves comparing the bank statement with the company's records to ensure they match.

• Gather bank statements and company records

• Compare deposits and withdrawals on both statements

• Identify and investigate any discrepancies

• Adjust the company's records to match the bank statement

• Prepare a reconciliation report

I am a finance student with strong analytical skills and a passion for learning about financial markets.

• Currently pursuing a degree in Finance

• Completed relevant coursework in accounting, economics, and investments

• Interned at a financial services firm, where I gained experience in financial analysis

• Participated in a stock market simulation competition, finishing in the top 5%

Epiroc is a leading productivity partner for the mining, infrastructure and natural resources industries.

• Epiroc was founded in 2018 as a spin-off from Atlas Copco.

• The company provides equipment and services for drilling, mining, and construction.

• Epiroc is known for its innovative and sustainable solutions in the industry.

• The company operates in over 150 countries worldwide.

• Epiroc's products include drill rigs, rock exc

I am interested in learning and working in the field of investment banking, specifically in mergers and acquisitions.

• I have a strong interest in analyzing financial statements and conducting due diligence on potential acquisition targets.

• I am eager to learn about valuation techniques such as discounted cash flow analysis and comparable company analysis.

• I am also interested in understanding the regulatory environment su...read more

Financial statements are formal records of the financial activities and position of a business, organization, or individual.

• Financial statements include the balance sheet, income statement, and cash flow statement.

• They provide information on the financial performance, financial position, and cash flows of an entity.

• Balance sheet shows assets, liabilities, and equity at a specific point in time.

• Income statement shows re...read more

Procure to pay is the process of acquiring goods and services from a vendor and paying for them.

• Procurement process starts with identifying the need for goods or services

• Vendor selection and negotiation of terms and conditions

• Purchase order creation and approval

• Goods or services receipt and inspection

• Invoice verification and payment processing

• Examples include ordering office supplies, hiring a contractor for a project,

Balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time.

• It is divided into two sections: assets and liabilities + equity

• Assets are what the company owns, while liabilities + equity are what the company owes

• The equation for a balance sheet is Assets = Liabilities + Equity

• Examples of assets include cash, inventory, and property

• Examples of liabilities inclu...read more