Financial Reporting Specialist Interview Questions and Answers

Yes

• Yes, I am familiar with several ERPs such as SAP, Oracle, and Microsoft Dynamics.

• I have experience using ERP systems for financial reporting and analysis.

• I am proficient in extracting data from ERPs and generating financial reports.

• I have worked with ERP modules like General Ledger, Accounts Payable, and Accounts Receivable.

• I am comfortable navigating through ERP interfaces and performing data reconciliations.

I have previously used SAP ERP system.

• I have experience in using various modules of SAP such as FI, CO, MM, and SD.

• I have also worked on customizing reports and creating financial statements using SAP.

• I am familiar with SAP's integration with other systems and its data management capabilities.

AR and AP are accounting terms that stand for Accounts Receivable and Accounts Payable respectively.

• AR refers to the money owed to a company by its customers for goods or services provided on credit.

• AP refers to the money a company owes to its suppliers or vendors for goods or services received on credit.

• AR and AP are important for cash flow management and financial reporting.

• AR and AP are recorded on a company's balance sheet as current assets and current liabilities respect...read more

Deferred revenue is revenue received in advance for goods or services that have not yet been provided.

• Deferred revenue is a liability on the balance sheet until the goods or services are delivered.

• It is recognized as revenue on the income statement as the goods or services are provided.

• Common examples include magazine subscriptions, software licenses, and prepaid insurance.

• Deferred revenue is also known as unearned revenue.