Associate Manager Finance

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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?

Ans.

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

Q2. Can you provide an example of a time when you identified a financial efficiency or opportunity for improvement within a company's operation and how you addressed it?

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

Q3. Please explain Accounting cycle

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

Q4. explain fields you worked on

Ans.

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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Q5. Explain Amortization

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

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