Acquisory Consulting LLP Senior Associate Interview Questions and Answers

Q1. About join as (questions based on joins)
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Q2. About index how to use
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Q3. How to do optimisation
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Optimisation involves finding the best solution to a problem by maximizing or minimizing a certain objective function.
• Identify the objective function to be optimized

• Define constraints that need to be satisfied

• Choose an optimization algorithm such as gradient descent or genetic algorithms

• Iteratively improve the solution until the optimal solution is found
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They asked only basic Accounting related que & ans.

Q1. Explain th P to P cycle
Ans. 
The P to P cycle refers to the Procure to Pay cycle, which is the process of obtaining and paying for goods and services.
• The cycle starts with the need for a product or service, followed by the selection of a supplier.

• Next, a purchase order is created and sent to the supplier.

• Upon receiving the goods or services, an invoice is generated and sent to the buyer for payment.

• Finally, the buyer processes the payment to the s...read more
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Q2. Explain 2,3 way invoie matching process
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Invoice matching process involves comparing purchase orders, invoices, and receiving reports to ensure accuracy.
• 1. Match the invoice to the purchase order to ensure the correct items and quantities were billed.

• 2. Match the invoice to the receiving report to confirm that the goods were received as stated on the invoice.

• 3. Resolve any discrepancies between the three documents to ensure accurate payment.

• Example: If a comp...read more
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Q1. Tell me about yourself.
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Q2. Why are you looking for a change?
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Q3. Where do you see yourself in 5 years?
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Q4. What are your strengths and weaknesses?
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Vba code

Q1. When do you prefer to Join
Ans. 
I prefer to join a new position within 2-4 weeks after accepting the offer.
• I believe it is important to give my current employer sufficient notice and time to find a replacement.

• Joining within 2-4 weeks allows me to wrap up any pending projects and ensure a smooth transition.

• It also gives me some time to prepare for the new role and get acquainted with the team and company culture.

• However, I am open to discussing the j...read more
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Q2. What salary is expected
Ans. 
The expected salary for a Senior Associate position
• Research the average salary range for Senior Associates in your industry and location

• Consider your experience, skills, and qualifications when determining your expected salary

• Be prepared to negotiate and discuss salary expectations during the interview process
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Basic Accounts questions and to process (AP, AR, GL, PAYROLL, T&E)

Q1. Questions related to what is mentioned on the resume
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Q1. Tell me about yourself
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Q2. Golden rules of accounting
Ans. 
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The three golden rules of accounting are: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified.

• For example, when a company receives cash from a c...read more
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Q3. P2P process steps
Ans. 
The P2P process steps refer to the procure-to-pay process, which involves the steps from requisition to payment for goods or services.
• Requisition: Request for goods or services needed

• Purchase Order: Formal document authorizing the purchase

• Receipt of Goods/Services: Confirming delivery and quality

• Invoice Processing: Matching invoice to PO and receipt

• Payment: Issuing payment to vendor
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Q1. Introduce yourself
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Q2. P2P process steps
Ans. 
The P2P process steps refer to the procure-to-pay process, which involves the steps from requisition to payment for goods or services.
• Requisition: Request for goods or services

• Purchase Order: Formal request to a supplier to provide goods or services

• Receipt of Goods/Services: Verification of delivery

• Invoice Processing: Receipt and approval of supplier invoice

• Payment: Issuing payment to supplier
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Q3. Journal entries
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Q1. Explain procure to Pay cycle
Ans. 
Procure to Pay cycle is the process of obtaining goods or services from a vendor, including requisition, purchase order, receiving, invoice approval, and payment.
• The cycle starts with a requisition for goods or services needed by a department.

• A purchase order is then created and sent to the vendor for the requested items.

• Upon receiving the items, the receiving department confirms the delivery and checks for accuracy.

• An...read more
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Q2. Explain procure to Pay cycles
Ans. 
Procure to Pay cycle involves the process of obtaining goods or services from a vendor and making payment for them.
• Procurement: Identifying needs, selecting vendors, negotiating contracts

• Purchase Order: Issuing PO to vendor for goods/services

• Receipt of Goods/Services: Receiving and inspecting goods/services

• Invoice Processing: Matching invoice with PO and receipt, approving for payment

• Payment: Making payment to vendor
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Q1. Explain 3,4,2 way matching
Ans. 
3,4,2 way matching is a process used in accounting to ensure accuracy in financial transactions.
• 3 way matching involves comparing the purchase order, invoice, and receiving report to ensure all details match

• 4 way matching adds a step of comparing the vendor's statement to reconcile any discrepancies

• 2 way matching involves comparing the purchase order and invoice only
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They provide assignment

Q1. Tell me about your self
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Q2. Why you want to join nexdigm
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