Process Development Executive Interview Questions and Answers

Depreciation is the decrease in value of an asset over time due to wear and tear, while amortization is the process of spreading out the cost of an intangible asset over its useful life.

• Depreciation is used for tangible assets like buildings, machinery, and vehicles

• Amortization is used for intangible assets like patents, copyrights, and trademarks

• Depreciation and amortization are non-cash expenses that reduce the value of an asset on the balance sheet

• Both are important for fi...read more

Accrual accounting is a method of accounting where revenues and expenses are recognized when they are earned or incurred, regardless of when the payment is received or made.

• Revenue and expenses are recorded when they are earned or incurred, not when the payment is received or made

• This method provides a more accurate picture of a company's financial health

• It is required by law for certain businesses, such as publicly traded companies

• Example: A company provides services to a cl...read more