Intercompany Analyst Interview Questions and Answers

Intercompany transactions occur between different entities within the same company, while intracompany transactions occur within the same entity.

• Intercompany transactions involve multiple legal entities within the same corporate group.

• Intracompany transactions occur within the same legal entity.

• Intercompany transactions are eliminated during consolidation to avoid double counting.

• Examples of intercompany transactions include intercompany loans, sales, and services.

• Examples of...read more

GRN stands for Goods Receipt Note, a document used in inventory management to confirm the receipt of goods from a supplier.

• GRN is a document used to confirm the receipt of goods from a supplier.

• It includes details such as the quantity received, date of receipt, supplier information, and any discrepancies found.

• GRN is an important part of the procurement process as it helps in verifying the accuracy of deliveries and managing inventory levels.

• It is often used in conjunction wi...read more

Public vs private companies differ in ownership, financial reporting requirements, and access to capital markets.

• Public companies are owned by shareholders and have to disclose financial information to the public, while private companies are owned by individuals or small groups and have more privacy.

• Public companies are subject to more regulations and oversight, such as SEC filings and shareholder meetings, while private companies have more flexibility in decision-making.

• Publ...read more

The golden rules of accounting are basic principles that guide the process of recording financial transactions.

• The golden rules include the principles of debit and credit, which are used to record transactions accurately.

• Debit what comes in, credit what goes out - this means that assets increase with debits and decrease with credits.

• Debit expenses and losses, credit income and gains - this ensures that expenses and losses are recorded as decreases in assets, while income and ...read more