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Accenture P2P Accounts Payable Executive Interview Questions and Answers

Updated 6 Jan 2025

Q1. What is the cost element and cost center?

Ans.

Cost element and cost center are key concepts in accounting for tracking and allocating costs within an organization.

  • Cost element refers to the specific types of costs incurred by an organization, such as materials, labor, or overhead.

  • Cost center is a specific department, team, or function within an organization that is responsible for incurring costs.

  • Cost elements are assigned to cost centers to track and allocate costs accurately.

  • Examples: Cost element - Direct materials, C...read more

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Q2. We cac explain the all accounts receivable and accounts payable

Ans.

Accounts receivable and accounts payable are two important aspects of a company's financial operations.

  • Accounts receivable refers to money owed to a company by its customers for goods or services provided.

  • Accounts payable refers to money owed by a company to its suppliers or vendors for goods or services received.

  • Accounts receivable is an asset on the balance sheet, while accounts payable is a liability.

  • Managing accounts receivable involves tracking payments from customers an...read more

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Q3. How many we have currencies in sap?

Ans.

SAP supports over 160 currencies worldwide.

  • SAP supports over 160 currencies for global transactions.

  • Currencies can be configured in SAP using transaction code OB22.

  • Each currency is assigned a unique currency code (e.g. USD for US Dollar, EUR for Euro).

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Q4. How many variance in sap?

Ans.

The number of variances in SAP can vary depending on the specific processes and transactions being analyzed.

  • The number of variances in SAP can be influenced by factors such as data entry errors, system glitches, or discrepancies in invoice processing.

  • Variances in SAP may be identified through reconciliation processes, exception reports, or manual reviews of accounts payable transactions.

  • Examples of variances in SAP include mismatches between purchase orders and invoices, inco...read more

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Q5. What is acount payable with process

Ans.

Accounts payable process involves managing and recording financial obligations to vendors and suppliers.

  • Accounts payable process includes receiving invoices from vendors and verifying them for accuracy

  • The process also involves obtaining approvals for payments and issuing payments to vendors

  • It is important to maintain accurate records of all transactions and ensure timely payments to avoid late fees or penalties

  • Automation of accounts payable process can improve efficiency and ...read more

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Q6. How many types of projects

Ans.

There are various types of projects, including internal projects, external projects, research projects, and development projects.

  • Internal projects focus on improving processes within the organization.

  • External projects involve working with external partners or clients.

  • Research projects aim to gather data and analyze findings.

  • Development projects focus on creating new products or services.

  • Examples: IT system implementation project, marketing campaign project, new product develo...read more

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