Senior Manager Finance & Accounts Interview Questions and Answers

Product life cycle refers to the stages a product goes through from introduction to decline.

• Product life cycle consists of four stages: introduction, growth, maturity, and decline.

• During the introduction stage, the product is launched and market awareness is created.

• In the growth stage, sales and profits increase as the product gains market acceptance.

• The maturity stage is characterized by stable sales and intense competition.

• Finally, in the decline stage, sales decline due t...read more

Accrued concept refers to the recognition of revenue or expenses that have been incurred but not yet received or paid.

• Accrued concept is a fundamental accounting principle.

• It involves recognizing revenue or expenses in the financial statements before they are actually received or paid.

• Accrued revenue refers to revenue that has been earned but not yet received, such as interest income or rent.

• Accrued expenses refer to expenses that have been incurred but not yet paid, such as ...read more

Capital budgeting is the process of planning and evaluating long-term investment decisions.

• It involves analyzing potential investments and deciding which ones to pursue

• Techniques include net present value, internal rate of return, and payback period

• Factors considered include cash flows, risk, and opportunity cost

• Example: deciding whether to invest in a new production facility or upgrade existing equipment

• Effective capital budgeting can help a company maximize profits and achi...read more

Cash flow refers to the movement of cash in and out of a business. It includes operating, investing, and financing activities.

• Cash flow is the net amount of cash and cash equivalents that a business receives and spends over a specific period of time.

• Operating activities include cash inflows and outflows related to the day-to-day operations of the business, such as sales and expenses.

• Investing activities include cash inflows and outflows related to the purchase and sale of lon...read more

GST, TDS, ESI, PF are important financial terms used in taxation and employee benefits.

• GST stands for Goods and Services Tax, a value-added tax levied on most goods and services sold for domestic consumption.

• TDS stands for Tax Deducted at Source, a tax deducted from the income of individuals or entities at the time of payment.

• ESI stands for Employee State Insurance, a self-financing social security and health insurance scheme for Indian workers.

• PF stands for Provident Fund, a...read more

Planning is the process of setting goals, developing strategies, and outlining tasks to achieve those goals.

• It involves identifying objectives and determining the resources needed to achieve them.

• It helps in anticipating potential problems and finding solutions to them.

• It requires analyzing data and making informed decisions based on that data.

• Examples include financial planning, project planning, and strategic planning.

• Effective planning can lead to increased efficiency, pro...read more

Bid cost is the total cost incurred in preparing and submitting a bid for a project or contract.

• Bid cost includes expenses such as labor, materials, and overhead costs.

• It also includes the cost of researching and analyzing the project requirements.

• Bid cost is an important factor in determining the profitability of a project.

• For example, if the bid cost is too high, it may not be worth pursuing the project.

• Bid cost can also be used as a benchmark for future bids on similar pro...read more