Genpact
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Golden rules are fundamental principles that guide the recording of financial transactions in accounting.
Golden rules are also known as accounting principles or rules of debit and credit.
There are three golden rules: the Personal Account rule, the Real Account rule, and the Nominal Account rule.
The Personal Account rule states that debit the receiver and credit the giver.
For example, when a company receives cash from a...
Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services received but not yet paid for.
Accounts payable is a liability on the balance sheet.
It represents the company's short-term obligations to pay off its debts.
It includes invoices from suppliers, utility bills, and other expenses.
Accounts payable is typically recorded as a credit entry in the accounting system.
It is an ...
A purchase order is a commercial document issued by a buyer to a seller, indicating the type, quantity, and agreed price of products or services.
A purchase order is a formal request made by a buyer to a seller to purchase goods or services.
It serves as a legally binding contract between the buyer and the seller.
The purchase order includes details such as the type and quantity of items, agreed prices, delivery dates, an...
Fixed assets are long-term tangible assets that are used in the production of goods or services and have a useful life of more than one year.
Fixed assets are physical assets that a company owns and uses for its operations.
They are not intended for sale and are expected to provide economic benefits over a long period of time.
Examples of fixed assets include buildings, machinery, vehicles, furniture, and land.
They are re...
I applied via Campus Placement and was interviewed in Sep 2023. There were 3 interview rounds.
Communication skills
Vouchers are documents used to record financial transactions, bad debts are uncollectible debts, and salary entry is the recording of employee salaries in accounting records.
Vouchers are used to document and track financial transactions within a company.
Bad debts are debts that are unlikely to be collected from customers and are written off as losses.
Salary entry involves recording employee salaries in the accounting s...
Bank reconciliation is the process of comparing the balance in the company's accounting records to the balance in the bank statement.
Bank reconciliation helps identify discrepancies between the company's records and the bank statement.
Types of errors in bank reconciliation include timing differences, errors in recording transactions, and bank errors.
For example, a timing difference could occur if a deposit made at the ...
I applied via Naukri.com and was interviewed in Mar 2024. There was 1 interview round.
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I applied via Naukri.com and was interviewed in May 2023. There were 2 interview rounds.
Fictitious assets are non-physical assets with no real value, amortization is the gradual write-off of an asset's cost, and surplus account in profit and loss is used to record excess profits.
Fictitious assets are intangible assets that do not have a physical existence, such as goodwill or patents.
Amortization is the process of spreading the cost of an intangible asset over its useful life, similar to depreciation for ...
Accounts payable cycle involves processing invoices and making payments, while P2P cycle includes the entire procure-to-pay process from requisition to payment.
Accounts payable cycle focuses on processing invoices, obtaining approvals, and making payments to vendors.
P2P cycle includes the entire procure-to-pay process, starting from requisitioning goods or services, receiving them, and finally making payments.
Accounts ...
Genpact interview questions for designations
Golden rules of accounts are basic principles to maintain accurate financial records.
Debit the receiver, credit the giver
Debit what comes in, credit what goes out
Debit expenses and losses, credit income and gains
These rules ensure accuracy and consistency in financial reporting
For example, when a company receives cash from a customer, the accounts receivable account is debited and the cash account is credited
The golden rules of accounts are basic principles to maintain accurate financial records.
The first golden rule is to maintain accurate records of all financial transactions.
The second golden rule is to ensure that all transactions are recorded in the correct account.
The third golden rule is to ensure that all transactions are recorded in a timely manner.
The fourth golden rule is to ensure that all transactions are prop...
Accounting concepts are fundamental principles and guidelines that govern the field of accounting.
Accounting concepts provide a framework for recording, analyzing, and reporting financial transactions.
Some common accounting concepts include the accrual concept, the going concern concept, and the matching concept.
The accrual concept states that transactions should be recorded when they occur, not when the cash is receiv...
Get interview-ready with Top Genpact Interview Questions
I applied via LinkedIn and was interviewed in Jan 2023. There were 4 interview rounds.
How to improve your communication skills
How can you do group discus of a company's information
I was interviewed before Mar 2022.
Accounts payable is the amount of money a company owes to its vendors or suppliers for goods or services received.
Accounts payable is a liability account that tracks the money a company owes to its vendors or suppliers.
It includes invoices, bills, and other expenses that have not yet been paid.
Accounts payable is an important part of a company's cash flow management.
Examples of accounts payable include rent, utilities,...
Matching process ensures accuracy of invoices and payments.
Matching process involves comparing invoice details with purchase orders and receipts.
It helps in identifying discrepancies and resolving them before payment.
Matching can be done manually or through automated software.
It is a crucial step in accounts payable to prevent errors and fraud.
Matching also helps in maintaining good relationships with vendors.
Purchase order is a document that authorizes a purchase transaction.
It is a formal request for goods or services
It includes details such as quantity, price, and delivery date
It helps to ensure that purchases are authorized and within budget
It is used to match invoices with goods received
It can be created manually or electronically
I was interviewed in Jul 2024.
Typically includes an executive summary, background information, a discussion of the findings, proposed solutions, and a conclusion. This reply all questions in detail with studies program
I applied via Approached by Company and was interviewed in Nov 2024. There was 1 interview round.
I applied via Company Website and was interviewed in Sep 2024. There were 2 interview rounds.
Learning new words is crucial for kids to improve their communication, vocabulary, and language skills. It helps in developing language fluency, reading comprehension, and confidence.
Developing a strong vocabulary enhances communication skills and the ability to express thoughts effectively.
Improving vocabulary aids in better reading comprehension of academic and non-academic texts.
Learning new words boosts confidence ...
A careful study of some social unit (as a corporation or division within a corporation) that attempts to determine what factors led to its success or failure
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