CMRS & Associates LLP GST Manager Interview Questions and Answers for Experienced

P2P process stands for procure-to-pay process, which involves the steps from requisition to payment for goods or services.

• Requisition: Requesting the purchase of goods or services

• Purchase Order: Formal document outlining the details of the purchase

• Receipt of Goods/Services: Confirming delivery and quality

• Invoice Processing: Verifying the invoice against the purchase order and receipt

• Payment: Issuing payment to the vend

I have 5 years of experience in the audit field, conducting financial audits for various clients.

• Performed financial audits for clients in different industries

• Analyzed financial statements and identified discrepancies

• Prepared audit reports and communicated findings to clients

• Collaborated with team members to ensure audit deadlines were met

Trade discount is given by the seller to the buyer at the time of purchase, while cash discount is given for prompt payment.

• Trade discount is a reduction in the list price of the goods offered by the seller to the buyer.

• Cash discount is a discount offered by the seller to the buyer for making prompt payment.

• Trade discount is given at the time of purchase, while cash discount is given after the purchase is made.

• Trade di...read more