Senior Finance Professional Interview Questions and Answers

Zero-based budgeting is a budgeting technique where all expenses must be justified for each new period.

• Involves creating a budget from scratch every time

• All expenses must be justified and prioritized

• Focuses on needs rather than wants

• Helps identify inefficiencies and unnecessary expenses

• Used by companies like Unilever and Coca-Cola

Budget is a plan for future income and expenses, while forecast is a prediction of future financial outcomes.

• Budget is a financial plan for a specific period, usually a year, that outlines expected income and expenses.

• Forecast is a prediction of future financial outcomes based on past performance and current trends.

• Budget is more rigid and inflexible, while forecast is more flexible and adaptable.

• Budget is used to set financial goals and allocate resources, while forecast is ...read more