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Hi. I applied for a job for Asp.net developer with 1 year experience there they mentioned one item of the description to Interpret written business requirements and technical specification documents. So what exactly is this??

+5  A: 

What they mean is that you should be able to read and understand documents which describe what you need to develop. These documents describe the functionality of the application and may specify certain constraints. So in your job you may be given a written document specifying what needs to be done, possibly in great detail, and you should be able to properly interpret said document.

These documents are created together with the customer and describe what the company promises to deliver (and what not to deliver). It is thus important that you follow the specification and requirements. Do what the cusomer asks, but don't be too creative. That may cost more time (thus the deadline may not be met) or result in a product which the customer doesn't want. All these things may cause the customer to be dissatisfied, and cause the company to lose money. It is for this reason that your (possible) future employer mentions these things.

Good old Wikipedia says,

Projects are subject to three sorts of requirements. Business Requirements describe in business terms what must be delivered or accomplished to provide value. Product Requirements describe the system or product which is one of several possible ways to accomplish the business requirements. Process Requirements describe the processes the developing organization must follow and the constraints that they must obey.

And then goes on to say,

A specification is an explicit set of requirements to be satisfied by a material, product, or service.

Stephan202