Wipro Senior Executive - Finance 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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Q1. Tell me about yourself
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Experienced finance executive with a strong background in financial analysis and strategic planning.
• Over 10 years of experience in finance roles

• Expertise in financial modeling and forecasting

• Proven track record of driving profitability and growth

• Strong leadership and communication skills

• Previously worked as a Finance Manager at XYZ Company
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Q2. What is accounting
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Accounting is the process of recording, summarizing, analyzing, and reporting financial transactions of a business.
• Accounting involves recording financial transactions such as sales, purchases, and expenses.

• It includes summarizing the financial data into financial statements like balance sheets and income statements.

• Accounting also involves analyzing the financial information to provide insights for decision-making.

• Rep...read more
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Q1. About revenue recognition
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Q2. Forecasting, Budgeting
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It represents a person's level of competency to perform a certain type of task. Aptitude tests are often used to assess academic potential or career suitability and may be used to assess either mental or physical talent in a variety Domains

Q1. Asking many questions like introduction
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Q2. What is your Qualification
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Q3. Related to our qualification background
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Q4. Our skills and knowledge cheking
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Involve working through a business problem or scenario with the interviewer to reach a logical conclusion.

Q1. Management fee how is calculated
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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. Tell me about yourself
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Q1. What are types of derivatives
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Types of derivatives include options, futures, forwards, and swaps.
• Options: Contracts that give the holder the right, but not the obligation, to buy or sell an asset at a specified price before or on a specified date.

• Futures: Contracts that obligate the buyer to purchase an asset or the seller to sell an asset at a predetermined future date and price.

• Forwards: Similar to futures, but customized contracts traded over-th...read more
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Q2. What are types of insurance
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Types of insurance include health, life, auto, home, and disability insurance.
• Health insurance covers medical expenses

• Life insurance provides financial protection to beneficiaries in case of death

• Auto insurance covers damages and liabilities related to vehicles

• Home insurance protects against damages to the home and belongings

• Disability insurance provides income replacement in case of disability
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Q1. Technical and process knowledge and scenario questions
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Q1. What you know about Trade Life Cycle
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Trade life cycle refers to the stages involved in a trade from initiation to settlement.
• Trade initiation: Trade is proposed and agreed upon by parties involved.

• Trade execution: Trade is executed on the exchange or over-the-counter market.

• Trade confirmation: Parties confirm the details of the trade.

• Trade settlement: Payment and transfer of securities occur to complete the trade.

• Trade reconciliation: Any discrepancies ar
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