TCS R2R Process Associate Interview Questions and Answers

Q1. What is R2R please explain
Ans. 
R2R stands for Record to Report, which is a finance and accounting process that involves collecting, processing, and reporting financial information.
• R2R involves tasks such as journal entries, reconciliations, and financial reporting

• It helps in ensuring accurate and timely financial information for decision-making

• Examples of R2R activities include preparing financial statements, analyzing financial data, and ensuring c
Answered by AI
Add your answer
Q2. Closing Stock overvalued what is the impact
Ans. 
Overvalued closing stock can lead to inflated assets and profits, impacting financial statements and decision-making.
• Overstated assets on the balance sheet

• Inflated profits on the income statement

• Misleading financial ratios and performance indicators

• Potential tax implications due to higher reported profits

• Loss of investor confidence if discovered

• May require restatement of financial statements

• Example: If a company overva...read more
Answered by AI
Add your answer

Q1. R2R process questions
Add your answer
Q2. What is amortization
Ans. 
Amortization is the process of spreading out the cost of an intangible asset over its useful life.
• Amortization is commonly used for assets like patents, copyrights, and trademarks.

• It helps match the expense of the asset with the revenue it generates.

• The amortization expense is recorded on the income statement over time.

• It is similar to depreciation for tangible assets like buildings and equipment.
Answered by AI
Add your answer
Q3. What is accrual
Ans. 
Accrual is the process of recognizing expenses and revenues before they are actually paid or received.
• Accrual accounting matches expenses to the revenue they generate, rather than when the cash is actually exchanged.

• Accruals are necessary to ensure that financial statements accurately reflect the financial position of a company.

• Examples of accruals include accrued interest, accrued salaries, and accrued taxes.

• Accruals ...read more
Answered by AI
Add your answer
Q4. 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 reduces the value of an asset over time.

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

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

• Examples of depreciable assets include buildings, machinery, veh
Answered by AI
Add your answer

Q1. About career and salary
Add your answer

Case study journal enties etc

Q1. Tell about yourself
Add your answer

Q1. Tell me abt urself
Ans. 
I am a dedicated and detail-oriented professional with experience in R2R processes and a strong focus on accuracy and efficiency.
• Experienced in handling end-to-end R2R processes

• Strong attention to detail and accuracy

• Proficient in using accounting software such as SAP and Oracle

• Excellent communication and problem-solving skills
Answered by AI
Add your answer
Q2. Why u left previous job
Ans. 
Seeking new challenges and opportunities for growth.
• Desire for career advancement

• Looking for new challenges

• Seeking better work-life balance

• Relocation to a new city

• Company downsizing or restructuring
Answered by AI
Add your answer

Q1. What is r2r procedure
Ans. 
R2R procedure refers to Record to Report process which involves the end-to-end activities related to financial reporting.
• R2R process includes tasks such as journal entries, reconciliations, financial reporting, and closing activities.

• It ensures accurate and timely recording of financial transactions in the books of accounts.

• The process helps in providing insights into the financial performance of the organization.

• Examp...read more
Answered by AI
Add your answer
Q2. What are mean concepts of accounting
Ans. 
Mean concepts of accounting refer to the basic principles and guidelines that govern the field of accounting.
• Mean concepts include principles like accrual, consistency, materiality, and prudence.

• These concepts help ensure that financial statements are prepared accurately and fairly represent the financial position of a company.

• For example, the accrual concept states that revenue and expenses should be recognized when t...read more
Answered by AI
Add your answer
Q3. What is mean accural expenses
Ans. 
Accrual expenses are costs that have been incurred but not yet paid for.
• Accrual expenses are recorded in the financial statements to match expenses with revenues in the same accounting period.

• These expenses are recognized when they are incurred, regardless of when they are paid.

• Common examples of accrual expenses include salaries, interest, and utilities.

• Accrual expenses help provide a more accurate representation of a...read more
Answered by AI
Add your answer
Q4. What do you mean by accural concept
Ans. 
Accrual concept refers to the accounting principle where revenues and expenses are recognized when they are incurred, regardless of when cash is exchanged.
• Accrual concept ensures that financial statements reflect the true financial position of a company.

• Revenue is recognized when it is earned, not necessarily when cash is received.

• Expenses are recognized when they are incurred, not necessarily when they are paid.

• Accrua...read more
Answered by AI
Add your answer
Q5. What are known as accounting principles
Ans. 
Accounting principles are the guidelines and rules that companies must follow when preparing financial statements.
• Accounting principles are the rules and guidelines that companies must follow when preparing financial statements.

• They ensure consistency and accuracy in financial reporting.

• Examples include the principle of conservatism, which states that companies should record expenses and liabilities as soon as possible...read more
Answered by AI
Add your answer

Mcq based online assessment
In which there are 4 section
1. Numeric ability behavioral questions
2. Excel related
3. Situation based email writing
4 Accounting questions

Q1. Question related to... Reconciliation Sales journal entry Accrual and deferral Bank Reconciliation process Previous work related questions
Add your answer

Q1. What Is accurals
Ans. 
Accruals are adjustments made to financial statements to ensure that revenues and expenses are recognized in the period they are earned or incurred, regardless of when cash is exchanged.
• Accruals help match revenues and expenses to the period in which they are incurred, providing a more accurate representation of a company's financial position.

• Accruals are necessary for the accrual basis of accounting, which is required...read more
Answered by AI
Add your answer
Q2. What is amortization
Ans. 
Amortization is the process of spreading out the cost of an intangible asset over its useful life.
• Amortization is similar to depreciation, but it is used for intangible assets such as patents, copyrights, and trademarks.

• It helps in reflecting the gradual consumption or expiration of the asset's value over time.

• The amortization expense is recorded on the income statement and reduces the asset's carrying value on the bal...read more
Answered by AI
Add your answer

Q1. What is reconcilation
Ans. 
Reconciliation is the process of comparing two sets of records to ensure they are in agreement and resolving any discrepancies.
• Reconciliation involves matching transactions or balances between different sources, such as bank statements and accounting records.

• It helps identify errors, fraud, or missing transactions.

• Reconciliation is important for ensuring accuracy and integrity of financial data.

• Examples include reconci...read more
Answered by AI
Add your answer
Q2. What is balance sheet
Ans. 
Balance sheet is a financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.
• It provides a snapshot of a company's financial position

• Assets are listed on one side, liabilities and equity on the other

• The balance sheet equation is Assets = Liabilities + Shareholders' Equity

• It helps investors and analysts assess the financial health of a company
Answered by AI
Add your answer