State Street Corporation Accounts Associate Interview Questions and Answers

Q1. Talk me through your CV
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Q2. Why do you want to work here
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1 hour and topics accounting

Q1. Tell me about yoursel
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Q2. Accounting related
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Q1. What is your current CTC
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Q2. What is work experience
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Q1. Tel me about your self What is golden rule of accounting What is bank reconciliation statement etc…
Ans. 
I am a detail-oriented accountant with experience in financial analysis and reporting. The golden rule of accounting is to debit the receiver and credit the giver. Bank reconciliation statement is a process of matching the balances in a company's accounting records to the corresponding information on a bank statement.
• Golden rule of accounting: Debit the receiver, credit the giver

• Bank reconciliation statement: Matching ...read more
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Q1. Revenue recognition -How would you recognise revenue and walk through
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Revenue recognition involves identifying when and how revenue should be recorded in financial statements.
• Revenue should be recognized when it is earned and realized or realizable

• The amount of revenue recognized should be the amount that is expected to be received

• Revenue recognition should follow the matching principle

• Examples of revenue recognition methods include percentage of completion, completed contract, and insta...read more
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Q2. Tell me about your self
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Q3. Why do you want to work in Reporting
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Q4. What are the components of FSt
Ans. 
FSt stands for Financial Statements. The components of FSt are the Income Statement, Balance Sheet, and Cash Flow Statement.
• Income Statement shows the company's revenues and expenses over a period of time.

• Balance Sheet shows the company's assets, liabilities, and equity at a specific point in time.

• Cash Flow Statement shows the company's inflows and outflows of cash over a period of time.

• Financial Statements are used to...read more
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Q1. About yourself and why do you want to leave your current job
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Q1. What is P2P Cycle and when AP work start?
Ans. 
P2P Cycle is Procure to Pay Cycle. AP work starts after the purchase order is received and goods/services are delivered.
• P2P Cycle involves the entire process of procuring goods or services, from identifying the need to paying the supplier.

• The cycle includes steps like requisition, purchase order, goods receipt, invoice receipt, and payment.

• AP work starts after the goods or services are received and the invoice is recei...read more
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