Genpact P2P Process Associate Interview Questions and Answers

First step is aptitude test before HR round

Q1. Via internet video call interview
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Q2. Golden rules and basic accounting questions
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Q3. Who is the father of accounting
Ans. 
Luca Pacioli is considered the father of accounting.
• Luca Pacioli, an Italian mathematician, is often credited as the father of accounting for his work in the 15th century.

• He wrote a book called 'Summa de Arithmetica, Geometria, Proportioni et Proportionalita' which included a section on double-entry bookkeeping.

• Double-entry bookkeeping is a foundational concept in accounting that Pacioli helped popularize.
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Q4. Self introduction
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Q5. What is depreciation
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Depreciation is the allocation of the cost of a tangible asset over its useful life.
• Depreciation is a non-cash expense that reduces the value of an asset over time.

• It reflects the wear and tear, obsolescence, or decrease in value of the asset.

• Common methods of calculating depreciation include straight-line, double declining balance, and units of production.

• Example: A company purchases a delivery truck for $50,000 with ...read more
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Q1. Types of PO SAP tcode
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Types of PO in SAP include standard PO, blanket PO, contract PO, and planned PO. SAP tcode for PO is ME21N.
• Standard PO is used for one-time purchases

• Blanket PO is used for recurring purchases over a period of time

• Contract PO is used for long-term agreements with suppliers

• Planned PO is used for materials that are not yet fully specified

• SAP tcode for creating a PO is ME21N
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Q1. What is inter company?
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Inter company refers to transactions or activities that occur between two or more companies within the same corporate group.
• Inter company transactions involve the transfer of goods, services, or funds between different entities within the same parent company.

• These transactions are typically recorded in the financial statements of each individual company involved.

• Inter company activities can include inter company sales,...read more
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Q2. What is accrued income? Accrued income is a revenue that's has been earned but has yet to be received.
Ans. 
Accrued income is revenue that has been earned but has not yet been received.
• Accrued income is recorded as a current asset on the balance sheet.

• It represents revenue that has been recognized but not yet received in cash.

• Common examples include interest income, rent income, and service fees.

• Accrued income is typically recorded through an adjusting entry at the end of an accounting period.

• It is important for accurate fin...read more
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Q1. What is deprecation? Deprecation is value of decreasing an asset.
Ans. 
Depreciation is the decrease in value of an asset over time.
• Depreciation is a method used in accounting to allocate the cost of an asset over its useful life.

• It reflects the wear and tear, obsolescence, or loss of value of an asset.

• Depreciation expense is recorded on the income statement and reduces the asset's value on the balance sheet.

• There are various methods of calculating depreciation, such as straight-line, decl...read more
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Q1. Salary discussion and expectations
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Q2. How much salary are you Expecting
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