Genpact Management Trainee Interview Questions, Process, and Tips

Q1. Whats internal auditing
Ans. 
Internal auditing is a process where an organization's financial and operational processes are reviewed by an independent party to ensure compliance and efficiency.
• Internal auditing evaluates the effectiveness of risk management, control, and governance processes within an organization.

• It helps identify areas for improvement and ensures compliance with laws and regulations.

• Internal auditors provide recommendations for ...read more
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Q2. Tell me about yourself
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Q3. Whats are the 5 component’s of ind as 15
Ans. 
Ind AS 15 specifies the criteria for recognizing revenue from contracts with customers.
• Identification of the contract with a customer

• Identification of the performance obligations in the contract

• Determination of the transaction price

• Allocation of the transaction price to the performance obligations

• Recognition of revenue when (or as) the entity satisfies a performance obligation
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Q1. What is the salary expectation
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Q2. Experience domain
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Q1. Technical questions
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Q2. Behavioral questions
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Q3. Excel questions
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Q1. Do you have all the documents?
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Q1. Spoken english skill test
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Q1. Technical round related to accounting
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Q1. Tell me about yourself
Ans. 
I am a recent graduate with a degree in Business Administration and a passion for leadership and problem-solving.
• Graduated with a degree in Business Administration

• Passionate about leadership and problem-solving

• Completed internships in marketing and finance

• Involved in various extracurricular activities such as student government and volunteering
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Grammatical Test like nouns, voice, pronouns, verbs

Q1. Tell me about OTC cycle
Ans. 
OTC cycle refers to the process of over-the-counter trading of securities outside of a formal exchange.
• OTC trading involves direct transactions between buyers and sellers, without the supervision of an exchange.

• OTC securities are not listed on a formal exchange and are typically less regulated.

• OTC markets provide liquidity for securities that may not meet the requirements for listing on a formal exchange.

• Examples of OT...read more
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Q2. Explain cash Application
Ans. 
Cash application is the process of recording and applying incoming payments to the correct customer accounts.
• Cash application involves matching incoming payments with the corresponding invoices or accounts receivable.

• It ensures that payments are accurately recorded and applied to the correct customer accounts.

• Automated cash application software can streamline the process and reduce manual errors.

• Reconciling bank statem...read more
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Q3. What is dispute?
Ans. 
Dispute is a disagreement or argument between two or more parties over a particular issue.
• Disputes can arise in various situations such as business transactions, legal matters, or personal relationships.

• They can involve disagreements over contracts, property rights, or differing opinions.

• Resolving disputes often requires negotiation, mediation, or legal intervention.

• Examples include a landlord-tenant dispute over rent ...read more
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Q1. Tell me about your self
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Q2. Education background Salary expected
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Q3. Previous experience and achievements
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Q4. Normal accounting questions and to check your confidence
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Q5. Ask for shift timing
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Q1. Basic accounting question
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Q1. How comfortable are you with working night shifts?
Ans. 
I am comfortable with working night shifts and have previous experience doing so.
• I have worked night shifts in my previous job and have no issues with adjusting my schedule.

• I understand the importance of being alert and focused during night shifts.

• I am willing to work night shifts as needed to support the team and meet business needs.
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Q2. Accrual, deferal, cash flow
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Q3. What are basic journal entries in accounting?
Ans. 
Basic journal entries in accounting are essential transactions recorded in a company's general ledger.
• Journal entry for revenue recognition: Debit Accounts Receivable, Credit Revenue

• Journal entry for expenses: Debit Expense, Credit Accounts Payable

• Journal entry for depreciation: Debit Depreciation Expense, Credit Accumulated Depreciation

• Journal entry for inventory: Debit Inventory, Credit Accounts Payable
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Q1. What is the definition of variance, and what is the formula used to calculate it?
Ans. 
Variance measures the spread of data points in a dataset from the mean.
• Variance is a statistical measure that shows how much individual data points differ from the average of the dataset.

• The formula to calculate variance is: Variance = Σ(xi - x̄)² / n, where xi is each data point, x̄ is the mean of the dataset, and n is the total number of data points.

• Variance can be used to assess the consistency or variability of a d...read more
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Q2. What are the definitions of accruals and deferrals, and what are the corresponding journal entries for each?
Ans. 
Accruals and deferrals are accounting concepts used to recognize revenue and expenses in the period they are earned or incurred, regardless of when cash is exchanged.
• Accruals involve recognizing revenue or expenses before cash is exchanged.

• Deferrals involve recognizing revenue or expenses after cash is exchanged.

• Accruals are recorded with a debit to an expense or asset account and a credit to a liability or revenue acc...read more
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Q3. Basic accounting terms and GAAP
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