cfm analyst

cfm analyst Interview Questions and Answers

Updated 30 Jul 2024

Q1. Can you tell me what is inventory?

Ans.

Inventory refers to the goods or materials a business holds for sale or use in production.

  • Inventory includes raw materials, work-in-progress, and finished goods.

  • It is an important aspect of supply chain management.

  • Inventory management involves balancing the costs of holding inventory with the benefits of having enough stock to meet demand.

  • Examples of businesses that rely heavily on inventory management include retail stores, manufacturers, and wholesalers.

Q2. What is Budgeting and forecasting

Ans.

Budgeting is the process of creating a financial plan for a specific period, while forecasting is predicting future financial outcomes.

  • Budgeting involves setting financial goals and creating a plan to achieve them

  • Forecasting involves predicting future financial outcomes based on past data and trends

  • Both are important tools for financial planning and decision-making

  • Examples include creating a budget for a business or forecasting sales for a new product

cfm analyst Interview Questions and Answers for Freshers

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Q3. What do u mean by revenue recognistion

Ans.

Revenue recognition refers to the process of accounting for and reporting revenue earned by a company.

  • Revenue recognition is a critical aspect of financial reporting and is governed by accounting standards such as GAAP and IFRS.

  • It involves determining when revenue should be recognized, how much revenue should be recognized, and in which period it should be recognized.

  • Revenue can be recognized at different points in time depending on the nature of the transaction, such as when...read more

Q4. What is 5 step model of Ind AS 115

Ans.

The 5-step model of Ind AS 115 is a framework for recognizing revenue from contracts with customers.

  • Identify the contract with the customer

  • Identify the performance obligations in the contract

  • Determine the transaction price

  • Allocate the transaction price to the performance obligations

  • Recognize revenue as the entity satisfies a performance obligation

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Q5. What is revenue recognition?

Ans.

Revenue recognition is the process of recording revenue in a company's financial statements.

  • Revenue recognition determines when and how revenue is recognized in a company's financial statements.

  • It is important for companies to follow proper revenue recognition guidelines to ensure accurate financial reporting.

  • Revenue can be recognized at different points in time depending on the type of transaction and the terms of the sale.

  • Examples of revenue recognition include recognizing ...read more

Q6. What is Working capital

Ans.

Working capital is the difference between current assets and current liabilities of a company.

  • Working capital is essential for day-to-day operations of a business.

  • It represents the liquidity available to a company.

  • Formula: Working Capital = Current Assets - Current Liabilities.

  • Examples of current assets: cash, accounts receivable, inventory.

  • Examples of current liabilities: accounts payable, short-term debt.

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