Accenture R2R Process Associate Interview Questions, Process, and Tips

Q1. Accounting entry for Inter company transactions
Ans. 
Inter company transactions are recorded using journal entries.
• Inter company transactions involve two or more entities within the same organization.

• The journal entry for inter company transactions includes a debit and credit entry.

• The debit entry is made in the receiving company's account and the credit entry is made in the giving company's account.

• For example, if Company A sells goods to Company B, the journal entry wo...read more
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Q2. Accounting principles application in preparation of financial statements
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Accounting principles are applied in the preparation of financial statements to ensure accuracy and compliance with regulations.
• The principles of accounting include the matching principle, revenue recognition principle, and the cost principle.

• Financial statements must be prepared in accordance with Generally Accepted Accounting Principles (GAAP).

• The balance sheet, income statement, and cash flow statement are the three...read more
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Q3. What is Accrual concept
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Accrual concept refers to the recognition of revenue and expenses in the financial statements before the actual cash transaction takes place.
• Accrual concept is based on the matching principle, which states that expenses should be recognized in the same period as the revenue they helped generate.

• This means that revenue and expenses are recorded in the financial statements when they are earned or incurred, regardless of ...read more
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Q1. R2R process questions
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Q2. What is amortization
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Amortization is the process of spreading out the cost of an intangible asset over its useful life.
• Amortization is commonly used for assets like patents, copyrights, and trademarks.

• It helps match the expense of the asset with the revenue it generates.

• The amortization expense is recorded on the income statement over time.

• It is similar to depreciation for tangible assets like buildings and equipment.
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Q3. What is accrual
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Accrual is the process of recognizing expenses and revenues before they are actually paid or received.
• Accrual accounting matches expenses to the revenue they generate, rather than when the cash is actually exchanged.

• Accruals are necessary to ensure that financial statements accurately reflect the financial position of a company.

• Examples of accruals include accrued interest, accrued salaries, and accrued taxes.

• Accruals ...read more
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Q4. What is depreciation
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Depreciation is the allocation of the cost of a tangible asset over its useful life.
• Depreciation is a non-cash expense that reduces the value of an asset over time.

• It reflects the wear and tear, obsolescence, or decrease in value of an asset.

• Common methods of calculating depreciation include straight-line, double declining balance, and units of production.

• Examples of depreciable assets include buildings, machinery, veh
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Q1. About career and salary
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Case study journal enties etc

Mcq based online assessment
In which there are 4 section
1. Numeric ability behavioral questions
2. Excel related
3. Situation based email writing
4 Accounting questions

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