Genpact R2R Process Associate Interview Questions and Answers

Q1. Tell me About yourself
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Q2. Basic questions related to accounts
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Q1. Tell me about yourself and your experience of internship and from that they frame next question
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Q2. They create situation or condition and then ask how you treat this particular item in accounts
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In R2R, handling specific accounting items requires understanding their nature and applying appropriate accounting principles.
• Identify the nature of the item: Is it an asset, liability, revenue, or expense?

• Determine the accounting treatment: For example, if it's an expense, classify it as operating or non-operating.

• Apply relevant accounting standards: For instance, follow IFRS or GAAP guidelines for recognition and mea...read more
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Q3. Other accounting concepts
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Q1. What is the Revenue Reconsilation ?
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Revenue reconciliation is the process of comparing financial records to ensure they match and identifying any discrepancies.
• Revenue reconciliation involves comparing revenue records from different sources such as sales, invoices, and payments.

• It helps in identifying any discrepancies or errors in the revenue records.

• The process ensures that all revenue transactions are accurately recorded and accounted for.

• Revenue reco...read more
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Q1. Golden rule of accounts
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The golden rule of accounts is to debit the receiver and credit the giver.
• Debit the receiver, credit the giver

• Assets = Liabilities + Equity

• Every transaction has equal debits and credits
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Q2. Accruals, provision
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Q1. About your sely
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Detail-oriented finance professional with experience in record-to-report processes and a passion for accuracy and efficiency.
• Strong background in accounting principles and financial reporting.

• Experience with ERP systems like SAP and Oracle for data management.

• Proficient in preparing financial statements and reconciliations.

• Excellent analytical skills demonstrated through process improvement projects.

• Effective communica...read more
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Q1. Your previous experience and accounting journal entries
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Q1. About your self
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Q2. Previous employer details and company name role u done
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I worked at ABC Corp as a R2R Process Associate, focusing on financial reporting and reconciliation tasks.
• Managed month-end closing processes, ensuring timely and accurate financial reporting.

• Performed account reconciliations, identifying discrepancies and resolving issues promptly.

• Collaborated with cross-functional teams to streamline financial processes and improve efficiency.

• Utilized ERP systems to maintain accurate...read more
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It was quite easy first round

Q1. Golden rules of accounting
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The golden rules of accounting are fundamental principles that guide the recording of financial transactions.
• The first golden rule is the Debit-credit rule, which states that for every debit entry, there must be a corresponding credit entry.

• The second golden rule is the Real account rule, which states that all assets and expenses have a debit balance, while all liabilities, capital, and income have a credit balance.

• The...read more
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Q1. Tell me about your self?
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Detail-oriented finance professional with experience in R2R processes, eager to contribute to efficient financial operations.
• Background in finance with a degree in Accounting.

• Experience in managing end-to-end Record to Report processes.

• Proficient in financial reporting and analysis, ensuring accuracy and compliance.

• Skilled in using ERP systems like SAP for data management.

• Strong analytical skills demonstrated through p...read more
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Q2. Where you see yourself in 5 years
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In five years, I envision myself as a skilled R2R Process Associate, leading projects and mentoring new team members.
• I aim to deepen my expertise in R2R processes, becoming a go-to resource for complex queries.

• I plan to take on leadership roles, managing projects that enhance efficiency and accuracy in financial reporting.

• I hope to mentor new associates, sharing knowledge and best practices to foster a collaborative te...read more
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Q3. Why should we hire you
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I bring a strong background in finance, attention to detail, and a commitment to excellence that aligns with your R2R needs.
• Proven experience in record-to-report processes, ensuring accuracy and compliance.

• Strong analytical skills demonstrated through previous roles where I improved reporting efficiency by 20%.

• Excellent communication skills, facilitating collaboration across departments to resolve discrepancies.

• Adaptab...read more
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Q1. What is ap ?
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AP stands for Accounts Payable.
• AP is a financial term used in accounting.

• It refers to the amount of money a company owes to its suppliers or vendors for goods or services received.

• AP is recorded as a liability on the company's balance sheet.

• It is an important part of the procure-to-pay process.

• AP involves tasks such as invoice processing, payment processing, and vendor management.
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Q2. What is bank reconciliation
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Bank reconciliation is the process of comparing and matching the balances in a company's accounting records with the bank statement.
• Bank reconciliation ensures that the company's records accurately reflect the transactions and balances in its bank account.

• It involves comparing the company's cash account balance with the bank statement balance and identifying any discrepancies.

• Common reasons for discrepancies include ou...read more
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