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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
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.
I applied via Naukri.com and was interviewed in Aug 2024. There was 1 interview round.
I have used various financial analysis tools such as Excel, Bloomberg Terminal, and Tableau in my previous roles.
Excel for financial modeling and data analysis
Bloomberg Terminal for market research and analysis
Tableau for data visualization and reporting
I applied via Naukri.com and was interviewed in Apr 2021. There were 3 interview rounds.
I applied via Approached by Company and was interviewed in Sep 2024. There were 2 interview rounds.
Budget costing finance related case study
I applied via Company Website and was interviewed in Mar 2024. There were 2 interview rounds.
Golden rules of accounting are basic principles to maintain accurate financial records.
The accounting equation must always balance: Assets = Liabilities + Equity
Every transaction should be recorded in the books of accounts
Separate personal and business finances
Consistency in accounting methods and practices
Accrual basis of accounting for revenue recognition and matching expenses
The golden rule of accounting states that debits must equal credits in any financial transaction.
Debits must always equal credits in accounting entries
It is the fundamental principle of double-entry accounting
Helps ensure accuracy and balance in financial records
I would add value by providing accurate financial analysis and insights to support informed decision-making.
Conducting thorough financial analysis to identify trends, risks, and opportunities
Developing financial models and forecasts to support strategic planning
Providing recommendations based on analysis to optimize financial performance
Assisting in budgeting and cost control initiatives
Monitoring key financial metrics...
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