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Basic accounting question
I was interviewed in Apr 2024.
I applied via Walk-in and was interviewed in Sep 2023. There were 4 interview rounds.
Accurate accounting involves recording financial transactions correctly and in a timely manner to provide a true and fair view of a company's financial position.
Accurate accounting ensures that all financial transactions are recorded correctly
It involves following accounting principles and standards
Timely recording of transactions is crucial for accurate accounting
Provides a true and fair view of a company's financial ...
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Genpact interview questions for designations
PTP cycle stands for Procure-to-Pay cycle, which is the process of obtaining and paying for goods and services.
PTP cycle involves requisitioning, purchasing, receiving, approving, and paying for goods and services.
It starts with the need for a product or service, followed by the creation of a purchase order, receipt of goods or services, invoice processing, and payment.
Efficient PTP cycle helps in managing cash flow, c...
2 way match is a process in accounts payable where the invoice is matched with the purchase order and receiving report.
In a 2 way match, the invoice is compared to the purchase order to ensure the prices and quantities match.
The receiving report is also checked to confirm that the goods or services were received as stated on the invoice.
Any discrepancies between the invoice, purchase order, and receiving report are inv
Accounts payable is the amount of money a company owes to its suppliers or vendors for goods or services purchased on credit.
Accounts payable represents a company's obligation to pay off short-term debts to its suppliers or vendors.
It is listed as a current liability on the company's balance sheet.
Examples of accounts payable include invoices for inventory purchases, utility bills, and services rendered.
Managing accoun...
Get interview-ready with Top Genpact Interview Questions
I applied via Company Website and was interviewed in Feb 2024. There was 1 interview round.
I applied via Walk-in and was interviewed in Nov 2023. There was 1 interview round.
Accounts payable job requires attention to detail and organization, while auditor job involves analysis and verification.
Accounts payable job involves processing invoices, making payments, and reconciling accounts.
Auditor job involves examining financial records, assessing internal controls, and identifying risks.
Accounts payable requires strong attention to detail and organization to ensure accuracy in processing paym...
I applied via Walk-in and was interviewed in Jul 2023. There were 3 interview rounds.
I want to work in a group or under a good leader.
Handling accountant involves processing invoices, reconciling accounts, and ensuring timely payments.
Processing invoices by verifying accuracy and obtaining approvals
Reconciling accounts by matching invoices with purchase orders and receipts
Ensuring timely payments to vendors to maintain good relationships
Communicating with vendors and internal departments to resolve any discrepancies
Maintaining accurate records of all
Raw cash is made by printing paper currency and minting coins by the government.
Raw cash is produced by the government through printing paper currency and minting coins.
The government regulates the amount of cash in circulation to maintain economic stability.
Raw cash is backed by the government's guarantee of its value.
Cash is distributed through banks and financial institutions to the public for use in transactions.
Expenses and income are recorded in the accounting system using double-entry bookkeeping method.
Expenses are recorded as debits, increasing the expense account and decreasing the asset or liability account.
Income is recorded as credits, increasing the income account and increasing the asset account.
The double-entry system ensures that the accounting equation (Assets = Liabilities + Equity) remains balanced.
Examples: Re...
Confirm goods sold in accounts by matching sales invoices with inventory records.
Match sales invoices with inventory records to ensure accuracy
Verify quantities and prices on sales invoices match with inventory records
Reconcile sales revenue with goods sold in accounts
Ensure proper documentation and approval for goods sold entries
Account holders verify their names by providing official identification documents.
Account holders provide government-issued IDs such as driver's licenses or passports.
They may also provide other official documents like birth certificates or social security cards.
Some companies may require additional verification such as utility bills or bank statements with the account holder's name on them.
I applied via Job Portal and was interviewed in Oct 2023. There was 1 interview round.
Golden rules are basic principles or guidelines that are considered essential or fundamental in a particular field or subject.
Golden rules are foundational principles that serve as a basis for decision-making and actions.
They are often universally accepted and followed within a specific context.
Examples include 'Treat others as you would like to be treated' in ethics and 'Debit the receiver, credit the giver' in accoun
I applied via Company Website and was interviewed in Sep 2023. There were 2 interview rounds.
Golden rules of accounting are basic principles that guide the process of recording financial transactions.
The three 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.
These rules help ensure that financial transactions are accurately recorded and classified.
For example, when a company receives cash from a c...
Procure to pay is the process of obtaining goods or services from a vendor, including requisition, purchase order, receiving, invoice approval, and payment.
Procure to pay involves the entire process from requesting goods or services to making the payment to the vendor.
It typically includes steps such as requisitioning, creating purchase orders, receiving goods or services, approving invoices, and making payments.
Effici...
Some of the top questions asked at the Genpact Accounts Payable Associate interview -
The duration of Genpact Accounts Payable Associate interview process can vary, but typically it takes about less than 2 weeks to complete.
based on 43 interviews
2 Interview rounds
based on 74 reviews
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