R2R Process Developer Interview Questions and Answers

Accrual is recognition of revenue/expenses when earned/incurred, provision is setting aside funds for future liabilities, BRS is reconciling bank statements.

• Accrual involves recognizing revenue or expenses when they are earned or incurred, regardless of when cash is received or paid.

• Provision involves setting aside funds to cover future liabilities or expenses that are likely to occur but have not yet been realized.

• Bank Reconciliation Statement (BRS) is the process of compari...read more