Find Interview Questions for Frankfurt school of finance & management

Right Answer:
Some techniques used during an audit include:

1. **Sampling** - Selecting a representative subset of transactions.
2. **Observation** - Watching processes and controls in action.
3. **Inquiry** - Asking questions to management and staff.
4. **Recalculation** - Verifying numerical accuracy of calculations.
5. **Analytical Procedures** - Comparing financial data and ratios.
6. **Document Inspection** - Reviewing records and supporting documents.

Right Answer:
Accounting software is used to manage financial transactions, track income and expenses, generate financial reports, automate bookkeeping tasks, and ensure compliance with accounting standards.

Right Answer:
Adjustment entries are journal entries made at the end of an accounting period to update account balances before financial statements are prepared. They are passed to ensure that revenues and expenses are recognized in the correct period, adhering to the accrual basis of accounting.

Right Answer:
Withholding Tax is a tax deducted at the source of income, such as salaries or payments to contractors, before the income is paid to the recipient. Extended Withholding Tax refers to additional withholding requirements that may apply to certain types of payments or to non-resident entities, ensuring that taxes are collected on income that may not be subject to regular withholding rules.

Right Answer:
Phantom gain refers to an increase in the value of an asset that is not realized through a sale or transaction, often due to inflation or changes in market conditions, leading to a perceived profit that does not result in actual cash flow.

Right Answer:
**Difference between PLC and SCADA:**
- **PLC (Programmable Logic Controller):** A hardware device used for automation of industrial processes, controlling machinery on factory floors.
- **SCADA (Supervisory Control and Data Acquisition):** A software system that monitors and controls industrial processes at a higher level, providing data visualization and management.

**Merits of PLCs:**
- High reliability and durability.
- Real-time control and fast response times.
- Easy to program and modify.
- Suitable for complex control tasks.

**De-merits of PLCs:**
- Limited data handling and visualization capabilities.
- Higher initial cost for complex systems.
- Requires specialized knowledge for programming.

**Merits of SCADAs:**
- Centralized monitoring and control of multiple PLCs.
- Advanced data visualization and reporting capabilities.
- Remote access and control.
- Scalability for large systems.

**De-merits of SCADAs:**
- Higher complexity and cost.
- Vulnerability to cybersecurity

Right Answer:
The methods used for project estimation include:

1. Analogous Estimating
2. Parametric Estimating
3. Bottom-Up Estimating
4. Three-Point Estimating
5. Expert Judgment
6. Delphi Technique
7. Function Point Analysis

Right Answer:
To compress the time frame when a delay occurs, I would prioritize tasks, reallocate resources, implement parallel processing where possible, and negotiate with stakeholders for flexibility on deadlines or scope adjustments.

Right Answer:
In PLC (Programmable Logic Controller) and DCS (Distributed Control System), mapping refers to the process of defining how input and output signals from field devices (like sensors and actuators) are assigned to specific addresses or variables in the control system. This allows the control system to correctly interpret and manage the data from these devices for monitoring and control purposes.

Right Answer:
My methods for resource allocation include:

1. **Assessing Project Requirements**: Understanding the scope and specific needs of the project.
2. **Identifying Resources**: Listing available resources, including team members, tools, and budget.
3. **Prioritizing Tasks**: Determining which tasks are critical and need immediate attention.
4. **Matching Resources to Tasks**: Assigning the right resources based on skills and availability.
5. **Monitoring and Adjusting**: Continuously tracking progress and reallocating resources as needed to address any issues or changes in project scope.

Right Answer:
My personality is driven by curiosity and a desire to learn, which aligns well with my qualifications. I am adaptable and enjoy collaborating with others, allowing me to effectively apply my knowledge in various situations. My strong communication skills help me share ideas clearly and work well in teams, enhancing my ability to contribute positively in a professional environment.

Right Answer:
You can test the performance of a website without using an automation tool by manually checking the following:

1. **Load Time**: Use a stopwatch to measure how long it takes for the website to fully load in different browsers and devices.
2. **Page Size**: Check the size of the web pages using browser developer tools to see how much data is being loaded.
3. **Network Speed**: Test the website on different internet connections (e.g., 3G, 4G, Wi-Fi) to see how performance varies.
4. **User Experience**: Navigate through the site to assess responsiveness and ease of use.
5. **Browser Developer Tools**: Use built-in tools (like Chrome DevTools) to analyze network requests, identify bottlenecks, and monitor resource loading times.
6. **Stress Testing**: Simulate multiple users accessing the site simultaneously by asking friends or colleagues to access it at the same time and observe any slowdowns or crashes.

Right Answer:

To determine the value of the oil tanker for tax purposes, you should consider factors such as its age, condition, market demand, and recent sales of similar tankers. You may also want to consult a marine surveyor or a professional appraiser who specializes in maritime assets to get an accurate valuation.

Right Answer:
World View should analyze their pricing strategy, customer acquisition costs, and service offerings. They may be facing high operational costs, ineffective marketing, or not meeting consumer expectations. Conducting market research to understand customer needs and preferences, optimizing their pricing model, and improving service quality could help them become profitable. Additionally, exploring partnerships or bundling services might attract more customers.

Right Answer:
I would first identify the reasons for their lack of productivity through one-on-one conversations. Then, I would provide support, set clear expectations, and offer resources or training if needed. If the situation doesn't improve, I would consider reassigning their tasks or discussing further actions with management.

Right Answer:
The company should implement a demand forecasting system to better align production with customer needs, streamline operations to reduce lead times, improve inventory management to minimize excess stock, and enhance customer service to address complaints. Additionally, consider investing in technology to increase efficiency and exploring partnerships or collaborations to improve market competitiveness.