Genpact R2R Associate Interview Questions and Answers

Q1. What is Bank Reconciliation Statement?
Ans. 
Bank Reconciliation Statement is a document that compares the bank's records with the company's records of its bank account.
• It helps in identifying any discrepancies between the two sets of records.

• It includes items such as deposits in transit, outstanding checks, bank errors, and service charges.

• The goal is to ensure that the ending balance on the bank statement matches the ending balance in the company's accounting r
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Q2. What is contingent liabilities?
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Contingent liabilities are potential liabilities that may arise in the future depending on the outcome of certain events.
• Contingent liabilities are not actual liabilities yet, but they have the potential to become actual liabilities based on future events.

• Examples include pending lawsuits, warranties, and guarantees.

• Companies disclose contingent liabilities in their financial statements to inform stakeholders about pot...read more
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Q3. What are the Golden rules of accounting?
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The Golden rules of accounting are basic principles that guide the process of recording financial transactions.
• The Golden rules include: Debit what comes in, Credit what goes out; Debit the receiver, Credit the giver; Debit expenses and losses, Credit income and gains.

• These rules help ensure that financial transactions are accurately recorded and classified in the accounting system.

• For example, when a company receives ...read more
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Q4. What is sundry debtor?
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Sundry debtor refers to a person or entity who owes money to a company for goods or services provided on credit.
• Sundry debtor is a type of accounts receivable on a company's balance sheet.

• It represents amounts owed by customers or clients for goods or services provided on credit.

• Sundry debtors are typically short-term in nature and are expected to be collected within a year.

• Examples include outstanding invoices from cu
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Q5. What is account receivable.
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Accounts receivable is the money owed to a company by its customers for goods or services provided on credit.
• Accounts receivable represents the amount of money owed to a company by its customers for goods or services provided on credit.

• It is considered an asset on the company's balance sheet.

• Companies often have specific departments or roles dedicated to managing accounts receivable and ensuring timely payment.

• Examples...read more
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Q1. Types Depreciation and it's methods
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Types of depreciation include straight-line, double declining balance, units of production, and sum-of-the-years-digits.
• Straight-line depreciation evenly spreads the cost of an asset over its useful life.

• Double declining balance accelerates depreciation in the early years of an asset's life.

• Units of production depreciation is based on the actual usage of the asset.

• Sum-of-the-years-digits depreciation method takes into ...read more
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Q1. What is defferd revenue expenditure
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Deferred revenue expenditure refers to expenses that are incurred in one accounting period but are recognized as assets and expensed over multiple periods.
• Deferred revenue expenditure is recorded as an asset on the balance sheet and gradually expensed over the useful life of the asset.

• Examples include expenses incurred for setting up a new business, advertising costs, and expenses related to research and development.

• Th...read more
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General knowledge Quantitative aptitude English language

Q1. Most of the questions will be based on your resume that what you have mentioned in it .
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Q2. I mentioned SAP in my resume and the questions were like Tell me some T-Codes What are the other modules in SAP
Ans. 
SAP is an enterprise resource planning software used for managing business operations.
• Some T-Codes in SAP include SE16 (Data Browser), VA01 (Create Sales Order), and MM01 (Create Material Master).

• Other modules in SAP include Finance and Controlling (FICO), Sales and Distribution (SD), Material Management (MM), and Human Capital Management (HCM).

• SAP is used by companies in various industries such as manufacturing, retai...read more
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Q1. It will be about job and salary stuff not much anything else rather than this.
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Q2. Are you ready to relocate Are you willing to come to the office Are you ready to work overtime
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4 sections
Email writing excel accounting

Q1. Not completed yet pending
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Q2. Golden rules of accounts
Ans. 
Golden rules of accounts are basic principles that guide the recording of financial transactions.
• Debit what comes in, credit what goes out

• Debit the receiver, credit the giver

• Debit expenses and losses, credit income and gains
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Q3. Accounts payable
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Q4. Accounts receivable
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Q5. Bank reconciliation statement
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Q1. Are you comfortable with night shift
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Q1. Journal entry of leasing
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Journal entry of leasing involves recording lease payments and related expenses in the appropriate accounts.
• Lease payments are recorded as a debit to the lease expense account and a credit to the cash or bank account.

• Depreciation expense related to the leased asset is recorded in the income statement.

• Interest expense on the lease liability is recorded in the income statement.

• The lease liability is recorded on the balan...read more
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