Add office photos
Accenture logo
Employer?
Claim Account for FREE

Accenture

3.8
based on 57k Reviews
Video summary
Proud winner of ABECA 2024 - AmbitionBox Employee Choice Awards
Filter interviews by
General Accounting OPS Associate
Clear (1)

Accenture General Accounting OPS Associate Interview Questions and Answers

Updated 22 Jun 2024

Q1. What is the journal entry for the depreciation. Provision for depreciation. Accrued expenses journal entry

Ans.

Journal entries for depreciation, provision for depreciation, and accrued expenses.

  • Depreciation: Debit Depreciation Expense, Credit Accumulated Depreciation

  • Provision for Depreciation: Debit Provision for Depreciation Expense, Credit Provision for Depreciation

  • Accrued Expenses: Debit Expense Account, Credit Accrued Expenses Account

View 2 more answers
right arrow

Q2. What is the procure to pay cycle ?

Ans.

The procure to pay cycle is the process of purchasing goods or services, receiving them, and making payment to the vendor.

  • The cycle starts with identifying the need for a product or service.

  • A purchase requisition is created and approved.

  • The procurement department selects a vendor and issues a purchase order.

  • The vendor delivers the goods or performs the service.

  • The receiving department inspects and verifies the goods or services.

  • An invoice is received from the vendor.

  • The invoi...read more

Add your answer
right arrow

Q3. Tell me the journel entry of p2p

Ans.

The journal entry of P2P (Procure to Pay) involves recording the purchase of goods or services and the subsequent payment.

  • Debit the relevant expense or asset account for the purchase

  • Credit accounts payable for the amount owed

  • Example: Debit Office Supplies Expense, Credit Accounts Payable

Add your answer
right arrow

Q4. What is bank reconciliation

Ans.

Bank reconciliation is the process of comparing a company's records of its bank account with the bank's records to ensure they match.

  • Bank reconciliation involves comparing the balance in the company's accounting records with the balance shown on the bank statement.

  • It helps identify any discrepancies such as outstanding checks, deposits in transit, or bank errors.

  • The goal of bank reconciliation is to ensure the accuracy of the company's financial records and to detect any erro...read more

Add your answer
right arrow
Discover Accenture interview dos and don'ts from real experiences

Q5. What is three way matching

Ans.

Three-way matching is a process in accounting that involves comparing three documents - purchase order, receiving report, and invoice - to ensure accuracy and prevent fraud.

  • Three-way matching involves comparing a purchase order, receiving report, and invoice.

  • The purchase order is a document that specifies the details of the goods or services ordered.

  • The receiving report is created when the goods or services are received and verifies the quantity and condition.

  • The invoice is t...read more

Add your answer
right arrow

Q6. What are two way matching

Ans.

Two-way matching is a process in accounting where the purchase order, receiving report, and invoice are compared to ensure accuracy.

  • Two-way matching involves comparing the purchase order with the invoice to ensure the quantity and price match.

  • It also involves comparing the receiving report with the invoice to ensure the goods or services were received as stated.

  • If all three documents match, it indicates that the transaction is accurate and can be processed for payment.

  • For exa...read more

Add your answer
right arrow

Q7. What is accrued interest

Ans.

Accrued interest refers to the interest that has been earned but not yet received or paid.

  • Accrued interest is recorded as a liability on the balance sheet until it is paid or received.

  • It is typically calculated based on the time period between the last interest payment and the current date.

  • Accrued interest is common in financial instruments such as bonds, loans, and savings accounts.

  • For example, if a bond pays interest semi-annually and the interest payment date is in three m...read more

Add your answer
right arrow

More about working at Accenture

Back
Awards Leaf
AmbitionBox Logo
Top Rated Mega Company - 2024
Awards Leaf
Awards Leaf
AmbitionBox Logo
Top Rated Company for Women - 2024
Awards Leaf
Awards Leaf
AmbitionBox Logo
Top Rated IT/ITES Company - 2024
Awards Leaf
Contribute & help others!
Write a review
Write a review
Share interview
Share interview
Contribute salary
Contribute salary
Add office photos
Add office photos

Interview Process at Accenture General Accounting OPS Associate

based on 4 interviews
2 Interview rounds
Technical Round
HR Round
View more
interview tips and stories logo
Interview Tips & Stories
Ace your next interview with expert advice and inspiring stories
Recently Viewed
SALARIES
Accenture
SALARIES
Accentuate Business Solutions
SALARIES
Accenture
SALARIES
Accenture
SALARIES
Accenture
SALARIES
Accenture
SALARIES
Accenture
SALARIES
Accenture
SALARIES
Accenture
SALARIES
Accenture
Share an Interview
Stay ahead in your career. Get AmbitionBox app
play-icon
play-icon
qr-code
Helping over 1 Crore job seekers every month in choosing their right fit company
75 Lakh+

Reviews

5 Lakh+

Interviews

4 Crore+

Salaries

1 Cr+

Users/Month

Contribute to help millions

Made with ❤️ in India. Trademarks belong to their respective owners. All rights reserved © 2024 Info Edge (India) Ltd.

Follow us
  • Youtube
  • Instagram
  • LinkedIn
  • Facebook
  • Twitter