NielsenIQ Accounts Payable Associate Interview Questions and Answers

Q1. Golden rules of accounting
Ans. 
The golden rules of accounting are basic principles that guide the process of recording financial transactions.
• There are three golden rules of accounting: 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 the accounting equation (Assets = Liabilities + Equity) remains balanced.

• For example, when a company recei...read more
Answered by AI
Add your answer
Q2. Types of accounting
Ans. 
Types of accounting include financial accounting, management accounting, and tax accounting.
• Financial accounting focuses on recording and reporting financial transactions of a business.

• Management accounting involves providing information to help with internal decision-making.

• Tax accounting deals with tax-related matters such as tax returns and compliance.

• Other types include cost accounting, forensic accounting, and aud
Answered by AI
Add your answer
Q3. What is depreciation
Ans. 
Depreciation is the allocation of the cost of a tangible asset over its useful life.
• Depreciation is a non-cash expense that reflects the decrease in value of an asset over time.

• It is used to spread out the cost of an asset over its useful life instead of expensing it all at once.

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

• Examples of depreciable as...read more
Answered by AI
Add your answer

5 topics 5 tests were there during the assessment

Q1. Everything related to accounts payble
Add your answer
Q2. Steps in procure to pay
Ans. 
Procure to pay is the process of obtaining goods or services from a vendor, receiving and approving the invoice, and making payment.
• Identify need for goods or services

• Obtain quotes or proposals from vendors

• Create purchase order

• Receive goods or services

• Approve invoice for payment

• Make payment to vendor
Answered by AI
Add your answer

Q1. Self Introduction
Add your answer
Q2. Previous role and JD
Add your answer
Q3. Flexible with night shift
Ans. 
Yes, I am flexible with night shifts and have previous experience working during those hours.
• I have no issues working night shifts and can adjust my schedule accordingly.

• I have worked night shifts in my previous job and have experience handling tasks during those hours.

• I understand the importance of being available during night shifts to ensure smooth operations.
Answered by AI
Add your answer

Q1. Self Introduction
Add your answer
Q2. Journal entries
Add your answer
Q3. Previously used SAP T-codes
Ans. 
I have experience using SAP T-codes such as F-43, FB60, and MIRO.
• F-43 is used for entering a payment with reference

• FB60 is used for entering invoices

• MIRO is used for entering vendor invoices
Answered by AI
Add your answer
Q4. Asked about AP cycle
Add your answer
Q5. What is Bad dept
Ans. 
Bad debt refers to money owed to a company that is unlikely to be paid back by the debtor.
• Bad debt is an uncollectible amount that a company has deemed as unlikely to be recovered.

• It is recorded as an expense on the company's income statement.

• Companies may write off bad debts to remove them from accounts receivable.

• Examples include customers who have declared bankruptcy or are insolvent.
Answered by AI
Add your answer
Q6. What is good will
Ans. 
Goodwill is an intangible asset that represents the value of a company's reputation, brand, and customer relationships.
• Goodwill is recorded on a company's balance sheet when it acquires another company for a price higher than the fair market value of its net assets.

• It is considered an intangible asset because it cannot be physically measured or touched.

• Goodwill can be impaired if the value of the acquired company decre...read more
Answered by AI
Add your answer
Q7. Asked basic accounting questions
Add your answer

Q1. Screening round about Total experience, Current and Expected CC and Notice period.
Add your answer

Q1. Self introduction
Add your answer
Q2. What are the major challenges that you faced in posting invoices
Ans. 
Some major challenges in posting invoices include missing or incorrect information, duplicate invoices, and delays in approvals.
• Missing or incorrect information on invoices can lead to delays in processing.

• Identifying and handling duplicate invoices can be time-consuming and require additional verification.

• Delays in approvals from various departments or stakeholders can hold up the invoice posting process.
Answered by AI
Add your answer
Q3. About your previous companies experience
Add your answer

Q1. TDS sections and percentage
Add your answer
Q2. SAP Tcodes.
Add your answer

Q1. What is AP in sap explain
Ans. 
AP in SAP stands for Accounts Payable, which is a module in the SAP software that manages and tracks all financial transactions related to vendor invoices and payments.
• AP in SAP is responsible for recording and processing vendor invoices

• It manages the payment process and tracks outstanding payments

• AP in SAP integrates with other modules like General Ledger and Purchasing

• It helps in maintaining accurate financial record...read more
Answered by AI
View 1 more answer
Q2. What is ERP in sap ?
Ans. 
ERP stands for Enterprise Resource Planning. It is a software system used to manage business processes and data.
• SAP is an example of an ERP system.

• ERP systems integrate various business functions such as finance, HR, and supply chain management.

• ERP systems provide real-time data and analytics to help businesses make informed decisions.

• SAP ERP includes modules such as Financial Accounting, Sales and Distribution, and Ma
Answered by AI
Add your answer

Cognizant question so hard and easy

Q1. Tell me about Yourself?
Ans. 
I am a detail-oriented and organized individual with experience in accounts payable and a passion for accuracy.
• I have worked in accounts payable for X years, where I have gained experience in processing invoices, reconciling accounts, and communicating with vendors.

• I am skilled in using accounting software such as X and Y, and I am comfortable working with spreadsheets.

• I am a quick learner and am always looking for way...read more
Answered by AI
Add your answer

Q1. Problem solving questions
Add your answer