Accounts & Finance Executive

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Accounts & Finance Executive Interview Questions and Answers for Freshers

Updated 8 Jul 2024

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Q1. what is the banking data storage

Ans.

Banking data storage refers to the secure and organized storage of financial information by banks.

  • Banks store customer information, transaction history, and account details in secure databases.

  • Data is often encrypted and backed up to prevent loss or theft.

  • Banks must comply with regulations regarding data privacy and security, such as GDPR and PCI DSS.

  • Cloud storage solutions are becoming more popular for banks to store and access data remotely.

  • Examples of banking data storage ...read more

Q2. What is the data entry operator

Ans.

A data entry operator is responsible for inputting data into a computer system or database.

  • They ensure accuracy and completeness of data entered

  • They may also be responsible for verifying data and making corrections

  • They work with various types of data such as financial, medical, or customer information

  • They may use specialized software or tools for data entry

  • They need to have good typing skills and attention to detail

Q3. What are the 3 financial statements

Ans.

The 3 financial statements are Income Statement, Balance Sheet, and Cash Flow Statement.

  • Income Statement shows a company's revenues and expenses over a period of time.

  • Balance Sheet provides a snapshot of a company's financial position at a specific point in time.

  • Cash Flow Statement shows how changes in balance sheet accounts and income affect cash and cash equivalents.

Q4. What is the finance executive

Ans.

A finance executive is responsible for managing financial operations and ensuring the financial health of an organization.

  • Overseeing financial transactions and budgets

  • Preparing financial reports and statements

  • Analyzing financial data and making recommendations

  • Managing financial risks and investments

  • Ensuring compliance with financial regulations

  • Collaborating with other departments to achieve financial goals

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Q5. Explain Accounts Payable and Receivable.

Ans.

Accounts Payable is money owed by a company to its suppliers while Accounts Receivable is money owed to a company by its customers.

  • Accounts Payable represents the money a company owes to its suppliers for goods or services received.

  • Accounts Receivable represents the money owed to a company by its customers for goods or services provided.

  • Accounts Payable is a liability on the balance sheet, while Accounts Receivable is an asset.

  • Accounts Payable is typically paid within a certa...read more

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