Associate Manager Finance Interview Questions and Answers

Updated 19 Feb 2025

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Q1. What is the difference between Deferred Revenue and Unbilled?

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Deferred Revenue is revenue received in advance while Unbilled is revenue yet to be invoiced.

Deferred Revenue is recognized as revenue over time or upon completion of the service/product
Unbilled revenue is recognized as revenue when the invoice is issued
Deferred Revenue is a liability on the balance sheet while Unbilled revenue is an asset
Examples of Deferred Revenue include subscription fees, maintenance contracts, and retainers
Examples of Unbilled revenue include work in pr...read more

Ans.

Identified inefficiency in inventory management system, implemented automated tracking system resulting in cost savings.

Identified manual inventory tracking was leading to errors and inefficiencies
Researched and recommended implementation of automated inventory management system
Collaborated with IT department to customize system to company's needs
Trained staff on new system and monitored results
Resulted in 20% reduction in inventory holding costs

Ans.

The accounting cycle is a series of steps that a company follows to record and report its financial transactions.

The cycle starts with identifying and analyzing transactions
Then, the transactions are recorded in the journal
The journal entries are then posted to the ledger
An unadjusted trial balance is prepared to ensure the debits and credits are equal
Adjusting entries are made to update accounts for accruals and deferrals
An adjusted trial balance is prepared to ensure the ac...read more

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I have worked on fields such as financial analysis, budgeting, forecasting, and financial reporting.

Financial analysis: Conducted variance analysis, trend analysis, and financial modeling to support decision-making.
Budgeting: Prepared annual budgets, monitored actual vs. budgeted performance, and identified areas for cost savings.
Forecasting: Developed financial forecasts based on historical data and market trends to predict future performance.
Financial reporting: Prepared mo...read more

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Ans.

Amortization is the process of spreading out the cost of an intangible asset over its useful life.

Amortization is similar to depreciation, but is used for intangible assets like patents, copyrights, and trademarks.
It helps allocate the cost of an intangible asset over its useful life, reflecting its gradual consumption or expiration.
The amortization expense is recorded on the income statement and reduces the asset's carrying value on the balance sheet.
Example: A company purch...read more