Manager-F&A Interview Questions and Answers

Nuclear power is generated by splitting atoms of uranium or plutonium in a process called nuclear fission.

• Nuclear fission releases a large amount of energy in the form of heat.

• This heat is used to produce steam, which drives turbines to generate electricity.

• Nuclear power plants use a controlled chain reaction to split atoms and release energy.

• The fuel rods containing uranium or plutonium are placed in a reactor core, where they are bombarded with neutrons to initiate the fiss...read more

There are various forms available in GST for different purposes, such as GSTR-1 for outward supplies, GSTR-3B for monthly summary return, etc. Matching ITC involves reconciling input tax credit claimed with the details in GSTR-2A.

• Forms available in GST include GSTR-1, GSTR-3B, GSTR-2A, GSTR-9, etc.

• To match ITC with GST forms, compare the input tax credit claimed in GSTR-3B with the details available in GSTR-2A.

• Reconcile any discrepancies between the ITC claimed and the detail...read more

Types of budgets include operating budget, capital budget, cash budget, and master budget.

• Operating budget: Covers day-to-day expenses and revenues.

• Capital budget: Focuses on long-term investments in assets.

• Cash budget: Tracks cash inflows and outflows.

• Master budget: Consolidates all budgets into a comprehensive plan.

Revenue leakages in the F&A sector refer to instances where income is lost due to inefficiencies, errors, or fraud.

• Inaccurate invoicing leading to underbilling or overbilling

• Unrecorded or misclassified expenses

• Fraudulent activities such as embezzlement or kickbacks

• Lack of proper controls and oversight in financial processes

• Errors in financial reporting or calculations

• Inefficient cash management practices

• Failure to collect outstanding debts or late payments

• Inadequate monitorin...read more

Compliances are up-to-date with no major issues.

• All necessary compliances have been met within the required timelines.

• Regular audits have been conducted to ensure compliance with regulations.

• No major issues or violations have been reported.

• Training sessions have been conducted to educate employees on compliance requirements.

• Documentation and record-keeping have been maintained accurately and up-to-date.

• Examples of compliances include tax filings, financial reporting, and regu...read more