Capgemini Associate Interview Questions, Process, and Tips

An invoice is a document that lists the products or services provided by a seller and the amount owed by the buyer.

• An invoice is a request for payment for goods or services provided.

• It includes details such as the date, description of the goods or services, quantity, price, and total amount due.

• Invoices are used in business transactions to keep track of sales and payments.

• Examples of invoices include bills from utility...read more

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

• It is a liability on the company's balance sheet.

• It includes invoices that have been received but not yet paid.

• It is important to manage accounts payable to maintain good relationships with vendors and avoid late fees.

• Example: A company receives a shipment of office supplies from a vendor and is invoiced fo...read more

Accounts receivable is the money owed to a company by its customers for goods or services provided on credit.

• It is a current asset on the balance sheet

• It represents the amount of money that a company is owed but has not yet received

• It is important for cash flow management and financial planning

• Examples include unpaid invoices, outstanding payments, and customer credit balances

General Ledger is a master record of all financial transactions of a company.

• It contains all the accounts and balances of a company

• It is used to prepare financial statements

• It helps in tracking the financial health of a company

• Examples include accounts payable, accounts receivable, and cash accounts

Journal entry is a record of financial transactions in a company's accounting system.

• Journal entry is used to record transactions in the general ledger.

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

• Examples include recording a sale, paying a bill, or adjusting an account balance.

• Journal entries are used to create financial statements and track the financial health of a company.

A financial statement that shows a company's assets, liabilities, and equity at a specific point in time.

• It provides a snapshot of a company's financial position.

• Assets are listed on the left side and liabilities and equity on the right side.

• The equation Assets = Liabilities + Equity must always balance.

• Examples of assets include cash, inventory, and property.

• Examples of liabilities include loans and accounts payable.

• E...read more