30+ Diverse Lynx Interview Questions and Answers

Eurobonds are international bonds issued in a currency other than the currency of the country or market in which it is issued.

• Eurobonds are issued by multinational corporations, governments, and international organizations.

• They are traded in the international capital market.

• Eurobonds are not subject to the regulations of any single country.

• They offer investors the opportunity to diversify their portfolio and hedge against currency risk.

• My resume includes relevant coursework i...read more

Answering questions related to previous job profile, shares and bonds, reference data, ex date, record date, and resume.

• Shares and bonds refer to financial instruments used for investment purposes.

• Reference data is information used to identify and classify financial instruments.

• Ex date is the date on which a security is traded without its dividend.

• Record date is the date on which a company determines its shareholders for dividend distribution.

• Questions based on resume may inc...read more

GST is a tax system implemented in many countries to replace multiple indirect taxes.

• GST stands for Goods and Services Tax.

• It is a tax system implemented in many countries to replace multiple indirect taxes.

• GST aims to simplify the tax structure, promote transparency, and reduce tax evasion.

• It is a value-added tax levied on the supply of goods and services.

• GST is categorized into different rates such as 0%, 5%, 12%, 18%, and 28% depending on the nature of the goods or service...read more

Onboarding is the process of integrating a new employee into the organization. Main documents required during offer letter creation include ID proof, educational certificates, and background check forms.

• Onboarding is the process of welcoming and integrating a new employee into the organization.

• Main documents required during offer letter creation include ID proof, educational certificates, and background check forms.

• Onboarding helps new employees understand the company culture...read more

PO invoice is generated for purchase orders while Non-PO invoice is not associated with a purchase order.

• PO invoice is generated when a purchase order is created for goods or services.

• Non-PO invoice is not associated with a purchase order.

• PO invoice requires a matching of the invoice with the purchase order and goods receipt.

• Non-PO invoice does not require a matching process.

• Examples of PO invoices include invoices for office supplies, equipment, and services.

• Examples of Non-...read more

Accounting principles are the guidelines and rules that companies must follow when preparing financial statements.

• The principles include: accrual principle, consistency principle, going concern principle, matching principle, materiality principle, monetary unit principle, objectivity principle, prudence principle, and relevance principle.

• Accrual principle states that revenue and expenses should be recognized when earned or incurred, not when cash is received or paid.

• Consisten...read more

Enterprise resource planning tools are software systems used by industries to manage and integrate important parts of their businesses.

• ERP tools help streamline processes such as accounting, human resources, supply chain management, and customer relationship management.

• They provide a centralized database that allows different departments to access and share information in real-time.

• Examples of popular ERP tools include SAP, Oracle, Microsoft Dynamics, and NetSuite.

Journal entry is a record of a financial transaction entered into a company's accounting system.

• Journal entry is used to record financial transactions in the accounting system

• It includes the date, accounts affected, and the amount of the transaction

• Accounting related terms include assets, liabilities, equity, revenue, and expenses

• Assets are resources owned by a company, liabilities are debts owed by a company, equity is the residual interest in the assets of a company after d...read more

Business process in industries refers to the series of steps or activities that are carried out to achieve a specific business goal.

• Identifying the need for a product or service

• Market research and analysis

• Product development or service creation

• Marketing and sales

• Customer service and support

• Financial management and accounting

• Supply chain management

• Quality control and assurance

Some configurations in SAP include defining company codes, creating cost centers, setting up document types, and configuring payment terms.

• Defining company codes

• Creating cost centers

• Setting up document types

• Configuring payment terms

The golden rules of accounting are basic principles that guide the recording of financial transactions.

• The golden rules of accounting are: Debit the receiver, Credit the giver; Debit what comes in, Credit what goes out; Debit expenses and losses, Credit income and gains.

• Prepaid refers to an expense that has been paid in advance but has not yet been used or consumed.

• Depreciation is the systematic allocation of the cost of an asset over its useful life.

• Accruals are expenses or ...read more

Dispute management involves resolving conflicts or disagreements between parties in a fair and efficient manner.

• Dispute management involves identifying and addressing issues that arise between parties.

• It requires effective communication and negotiation skills to reach a resolution.

• Experience in handling customer complaints or resolving conflicts in a team setting can be relevant.

• Knowledge of relevant laws and regulations related to dispute resolution may be beneficial.

• Example...read more

The interviewer asked about introduction, golden rule, and invoice process for the process associate role.

• Introduction should include a brief overview of your background and experience.

• Golden rule refers to the principle of treating others as you would like to be treated.

• Invoice process involves receiving and processing invoices from vendors or clients.

• It is important to ensure accuracy and timely processing of invoices to avoid any financial discrepancies.

• Examples of invoice...read more

Accounts refer to financial records, golden rules are principles for accounting transactions, and amortization is the process of spreading out the cost of an intangible asset over its useful life.

• Accounts are financial records that track the financial activities of a business or individual.

• Golden rules are principles that guide accounting transactions, such as the accounting equation (Assets = Liabilities + Equity) and the rules of debit and credit.

• Amortization is the process...read more

Balance Sheet is a financial statement that provides a snapshot of a company's financial position at a specific point in time.

• It presents the assets, liabilities, and shareholders' equity of a company.

• Assets are what the company owns, liabilities are what the company owes, and shareholders' equity is the difference between the two.

• It helps in assessing the financial health and stability of a company.

• The balance sheet follows the accounting equation: Assets = Liabilities + Sha...read more

The company has received positive reviews from employees and customers alike.

• The company has a high rating on Glassdoor and other review websites.

• Employees have praised the company's work culture and management.

• Customers have given positive feedback on the company's products and services.

• The company has won awards for its performance and customer satisfaction.

A purchase entry is a record of a transaction where a company buys goods or services.

• Includes details such as date, vendor name, invoice number, amount, and payment method

• Debit the Purchases account and credit the Accounts Payable account

• Example: On January 1, XYZ Company purchases $500 worth of office supplies from Office Depot

SAP modules are different components of the SAP software that handle specific business processes.

• SAP FI (Financial Accounting) - handles financial transactions, accounting, and reporting

• SAP MM (Materials Management) - manages procurement and inventory

• SAP SD (Sales and Distribution) - manages sales, shipping, and billing

• SAP HR (Human Resources) - handles employee management and payroll

• SAP PP (Production Planning) - manages production processes and schedules

GST stands for Goods and Services Tax, a value-added tax levied on most goods and services sold for domestic consumption.

• GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer.

• It has replaced multiple indirect taxes like VAT, service tax, etc.

• GST has 4 tax slabs - 5%, 12%, 18%, and 28%.

• Input tax credit can be claimed on taxes paid on input goods and services.

• GST registration is mandatory for businesses with an annual turnover abov...read more

The golden rules of accounting are basic principles that guide the recording of financial transactions.

• The first golden rule is the Debit the Receiver, Credit the Giver rule. This means that when an asset is received, it is debited, and when an asset is given, it is credited.

• The second golden rule is the Debit what comes in, Credit what goes out rule. This means that when there is an increase in assets, it is debited, and when there is a decrease in assets, it is credited.

• The...read more

Working capital is the difference between current assets and current liabilities of a company.

• Working capital is essential for a company's day-to-day operations.

• It indicates the company's ability to meet short-term financial obligations.

• Formula: Working Capital = Current Assets - Current Liabilities.

• Examples: Cash, accounts receivable, inventory are current assets. Accounts payable, short-term loans are current liabilities.

Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.

• Accounts payable is a liability on the company's balance sheet

• It represents the amount of money owed to suppliers for goods or services received

• Accounts payable is typically paid within a certain period, often 30, 60, or 90 days

• Examples of accounts payable include invoices from suppliers for inventory purchases or services rendered

Provision is an amount set aside for a specific purpose or future expense.

• Provision is a financial term used to account for future expenses or liabilities.

• It is an estimated amount set aside in advance to cover potential losses or expenses.

• Provisions are made on the basis of past experience, current trends, and future expectations.

• Examples of provisions include bad debt provision, warranty provision, and restructuring provision.

Bank reconciliation statement is a document that compares the bank statement with the company's cash records to identify any discrepancies.

• Bank reconciliation statement is prepared to ensure that the company's cash records match the bank statement.

• It helps in identifying any errors or discrepancies in the company's cash transactions.

• The statement includes the company's cash balance, outstanding checks, deposits in transit, bank charges, and interest.

• By reconciling the bank st...read more

O2C cycle stands for Order to Cash cycle, which is the process of receiving and fulfilling customer orders.

• O2C cycle involves receiving customer orders, processing them, fulfilling the orders, and receiving payment.

• It includes steps such as order entry, order processing, order fulfillment, and invoicing.

• Example: A customer places an order for a product, the order is processed, the product is shipped, and the customer pays for the order.

• Efficient O2C cycle management is crucia...read more

Current CTC is $40,000 and expectations are $50,000.

• Current CTC: $40,000

• Expectations: $50,000

Expense without cash refers to transactions where money is spent without using physical currency.

• Expense can be incurred through credit card transactions.

• Expense can also be incurred through online payment methods like PayPal or Venmo.

• Expense without cash can also include bartering goods or services.

• Expense without cash can be recorded in accounting as accounts payable or accrued expenses.

BONDS stands for Building Opportunities for Networking and Discovering Success. It is a program designed to help individuals develop professional skills and expand their network.

• BONDS is a professional development program aimed at helping individuals enhance their skills and expand their network.

• Participants in BONDS may attend workshops, networking events, and mentorship programs.

• The goal of BONDS is to provide individuals with the resources and support they need to succeed ...read more

Shift explanation involves details about the timing, duration, and rotation of work hours.

• Explain the timing of shifts (e.g. day shift, night shift, rotating shifts)

• Describe the duration of each shift (e.g. 8 hours, 12 hours)

• Discuss any rotation schedule in place for shifts (e.g. weekly rotation)

• Mention any flexibility or fixed schedule for shifts

Accrual concept refers to the recognition of revenues and expenses when they are incurred, regardless of when cash is exchanged.

• Accrual accounting matches revenues with expenses in the same accounting period

• It provides a more accurate representation of a company's financial position

• Accruals are recorded as adjusting journal entries at the end of an accounting period

• Examples include recognizing revenue when services are provided, even if payment has not been received yet

Job process willingness refers to the readiness and eagerness of an individual to perform the tasks and responsibilities associated with a particular job role.

• Demonstrate enthusiasm and motivation towards learning and executing job processes

• Show flexibility and adaptability in handling different tasks and challenges

• Be willing to collaborate with team members and seek help when needed

• Take initiative to improve processes and suggest innovative ideas

• Maintain a positive attitude ...read more

Prepaid expense is an advance payment made for goods or services that will be received in the future.

• Prepaid expenses are recorded as assets on the balance sheet.

• They represent expenses that have been paid for in advance but have not yet been used or consumed.

• Common examples of prepaid expenses include prepaid rent, prepaid insurance, and prepaid subscriptions.

• These expenses are gradually recognized as expenses over time or as the goods or services are consumed.

• Prepaid expens...read more

Yes, I am comfortable with night shifts.

• I have previously worked night shifts and have no issues with it.

• I understand the importance of being flexible in the workplace.

• I am willing to adjust my sleep schedule accordingly.

• I am aware that night shifts may come with additional compensation.

• I am excited about the opportunity to work in a dynamic environment.