60+ Ample Softech System Interview Questions and Answers

Explanation of different types of constraints and primary key vs foreign key

• Constraints are rules applied to columns to maintain data integrity

• Types of constraints include NOT NULL, UNIQUE, PRIMARY KEY, FOREIGN KEY, CHECK, and DEFAULT

• Primary key is a unique identifier for a row in a table, while foreign key is a reference to a primary key in another table

• Primary key cannot have null values, while foreign key can have null values

• Primary key is used to enforce entity integrity,...read more

To open a bank account for an NRI, I would check their passport, visa, and proof of foreign address.

• Verify their passport to confirm their NRI status

• Check their visa to ensure they are legally allowed to open a bank account

• Ask for proof of foreign address, such as a utility bill or rental agreement

• Confirm if they have an NRE or NRO account

• Explain the difference between the two types of accounts and help them choose the right one

I will investigate the transaction and report it to the appropriate authorities if necessary.

• I will review the transaction details and gather any additional information that may be relevant.

• If necessary, I will consult with colleagues or superiors to determine the appropriate course of action.

• If the transaction appears to be illegal or unethical, I will report it to the appropriate authorities, such as law enforcement or regulatory agencies.

• I will maintain confidentiality and...read more

Data analysis is the process of inspecting, cleaning, transforming, and modeling data while data analytics involves using statistical and computational methods to extract insights from data.

• Data analysis is focused on preparing and organizing data for analysis

• Data analytics involves using tools and techniques to extract insights from data

• Data analysis is a subset of data analytics

• Data analytics involves more complex and advanced techniques than data analysis

• Data analysis is m...read more

Documents required for opening an SME account.

• Proof of identity and address of the business owner(s)

• Proof of business registration

• Business PAN card

• GST registration certificate

• Bank statements of the business

• Business plan and projections

• KYC documents of authorized signatories

• Any other relevant documents as per the bank's requirements

I have worked on SAP code for various modules including MM, SD, and FI.

• Developed custom reports using ABAP programming language

• Implemented enhancements and modifications to existing SAP functionalities

• Worked on data migration and integration projects

• Configured and customized SAP modules to meet business requirements

False. Approximation significance is not related to H&v lookup.

• Approximation significance is a statistical concept that measures the probability of obtaining a result by chance.

• H&v lookup is a function in Excel used to search for a value in a table.

• These two concepts are not related and therefore the answer is false.

Sactions are penalties imposed on individuals or entities for violating laws or regulations. PEP refers to politically exposed persons. Red flags indicate potential suspicious activity. CIP stands for customer identification program. EDD is enhanced due diligence.

• Sanctions are penalties imposed on individuals or entities for violating laws or regulations

• Types of sanctions include financial sanctions, trade sanctions, and diplomatic sanctions

• PEP refers to politically exposed p...read more

AML focuses on identifying and preventing money laundering, while KYC focuses on verifying the identity of customers.

• AML stands for Anti-Money Laundering, while KYC stands for Know Your Customer.

• AML is a set of laws, regulations, and procedures aimed at preventing criminals from disguising illegally obtained funds as legitimate income, while KYC is a process of verifying the identity of customers to ensure they are who they claim to be.

• AML is more concerned with the source of...read more

Banking is the business activity of accepting and safeguarding money owned by other individuals and entities.

• Banks accept deposits from customers and use that money to make loans and investments.

• They provide various financial services such as checking accounts, savings accounts, credit cards, and loans.

• Banks also play a crucial role in the economy by facilitating the flow of money and credit.

• Examples of banks include JPMorgan Chase, Bank of America, and Wells Fargo.

Types of joins and their differences

• Inner join: returns only the matching rows from both tables

• Left join: returns all rows from the left table and matching rows from the right table

• Right join: returns all rows from the right table and matching rows from the left table

• Full outer join: returns all rows from both tables, with NULL values in place of non-matching rows

• Cross join: returns the Cartesian product of both tables

• The difference between them is in the way they handle non-...read more

Accounting transactions include sales, purchases, expenses, and investments. Journal entries are made to record these transactions.

• Sales transactions involve debiting accounts receivable and crediting sales revenue.

• Purchases transactions involve debiting inventory and crediting accounts payable.

• Expense transactions involve debiting various expense accounts and crediting cash or accounts payable.

• Investment transactions involve debiting investment account and crediting cash or ...read more

Arbitration is a formal legal process where a neutral third party resolves a dispute, while pre-arbitration refers to informal negotiations before initiating the formal arbitration process.

• Arbitration is a formal legal process where parties present their case to a neutral arbitrator who makes a binding decision.

• Pre-arbitration involves informal negotiations and discussions between parties before deciding to proceed with formal arbitration.

• Arbitration typically follows a set o...read more

Buy in occurs when a seller fails to deliver shares on the settlement date.

• Buy in is a process where the buyer purchases the shares from the market to fulfill the failed delivery.

• It is a mechanism to ensure timely settlement of trades.

• The cost of buy in is borne by the seller who failed to deliver the shares.

• Buy in can also happen when the seller delivers the shares, but they are not in good deliverable form.

• Buy in is regulated by the exchange and is a rare occurrence.

Data analytics is the process of examining and interpreting data to draw conclusions and make informed decisions.

• It involves collecting, cleaning, and organizing data

• Applying statistical and mathematical models to analyze data

• Visualizing and presenting data in a meaningful way

• Examples include predicting customer behavior, optimizing business operations, and identifying trends in healthcare data

Where is used to indicate a location or position, while having is used to show possession or ownership.

• Where is used to ask about a place or location, while having is used to talk about something that someone possesses or owns.

• Where can also be used as a conjunction to introduce a subordinate clause that describes a location.

• Having can also be used as a gerund or present participle to describe an action of possessing or owning something.

• Example: Where did you go? vs. Having a...read more

Fixed assets can be categorized into tangible and intangible assets.

• Tangible assets include property, plant, and equipment (PPE), such as buildings, machinery, and vehicles.

• Intangible assets include patents, copyrights, trademarks, and goodwill.

• Fixed assets are long-term assets that are not intended for sale and are used in the production of goods or services.

• Fixed assets are recorded on the balance sheet and are subject to depreciation or amortization over their useful lives...read more

The question is asking about converting text to columns.

• Text to column is a feature in spreadsheet software that allows you to split a single column of text into multiple columns based on a delimiter.

• This feature is commonly used to separate data that is combined in a single cell into separate cells for easier analysis or manipulation.

• For example, if you have a column of full names in the format 'First Name Last Name', you can use text to column to split the names into separa...read more

OTC cycle refers to the process of over-the-counter trading of securities.

• OTC trading involves direct trading between two parties without the involvement of an exchange.

• The cycle involves the negotiation of terms, execution of the trade, and settlement of the transaction.

• OTC trades are typically less regulated and less transparent than exchange-traded securities.

• Examples of OTC securities include stocks, bonds, and derivatives.

• OTC trading is often used by small companies or t...read more

US Banking is a complex system of financial institutions that provide various services to individuals and businesses.

• US Banking is regulated by various federal and state agencies such as the Federal Reserve, FDIC, and OCC.

• There are different types of banks such as commercial banks, community banks, and credit unions.

• Banks offer services such as checking and savings accounts, loans, mortgages, and credit cards.

• The US banking system plays a crucial role in the economy by provid...read more

Our policy for company growth focuses on strategic planning, innovation, and continuous improvement.

• We prioritize strategic planning to identify opportunities for growth and set clear objectives.

• We encourage innovation to stay ahead of competitors and adapt to changing market trends.

• We emphasize continuous improvement to optimize processes and enhance overall performance.

I have implemented streamlined processes to improve efficiency and accuracy in my previous roles.

• Implemented standardized procedures to ensure consistency in workflow

• Utilized project management tools to track progress and identify bottlenecks

• Regularly reviewed and updated processes based on feedback and data analysis

A delimiter in Excel is a character used to separate data in a cell or column.

• Common delimiters include commas, semicolons, and tabs.

• Delimiters can be used in functions like CONCATENATE and TEXTJOIN.

• Delimiters can also be used when importing or exporting data from Excel.

• Example: =CONCATENATE(A1,", ",B1) would join the values in cells A1 and B1 with a comma and space delimiter.

Depreciation refers to the decrease in value of an asset over time due to wear and tear, obsolescence, or other factors.

• Depreciation is a non-cash expense that is recorded on the income statement.

• It is used to allocate the cost of an asset over its useful life.

• There are different methods of calculating depreciation, such as straight-line, declining balance, and sum-of-the-years'-digits.

• Examples of assets that can be depreciated include buildings, vehicles, machinery, and equi...read more

FB03 is a transaction code in SAP used to display financial accounting documents.

• FB03 is used to view accounting documents such as invoices, credit memos, and payment receipts.

• It allows users to search for documents based on various criteria such as document number, posting date, and company code.

• FB03 also provides options to display document details, line items, and accounting entries.

• It is commonly used by finance and accounting professionals to review and analyze financial...read more

Shipping and logistics, SCM involve the management of the flow of goods from point of origin to point of consumption. OPUS tool is a software for supply chain management. Bill of lading is a document acknowledging receipt of goods for shipment.

• Shipping and logistics involve the planning, execution, and control of the movement of goods from point A to point B.

• Supply Chain Management (SCM) is the management of the flow of goods and services, including the movement and storage o...read more

Yes, I possess basic knowledge of computers.

• Proficient in Microsoft Office Suite

• Familiar with basic troubleshooting techniques

• Comfortable navigating various operating systems

• Experience with data entry and internet research

The golden rules of accounting are basic principles that guide the recording of financial transactions.

• The first golden rule is the rule of debit and credit.

• The second golden rule is the rule of consistency.

• The third golden rule is the rule of conservatism.

• The fourth golden rule is the rule of materiality.

• The fifth golden rule is the rule of objectivity.

• The sixth golden rule is the rule of relevance.

• The seventh golden rule is the rule of feasibility.

Assessment criteria for the two-minute typing test include accuracy, speed, and error rate.

• Accuracy - number of correctly typed words in the given time frame

• Speed - number of words typed per minute

• Error rate - number of mistakes made while typing

• Criteria may vary depending on the specific requirements of the role

The MRC document typically consists of sections such as Introduction, Methods, Results, and Conclusion.

• Introduction provides background information and sets the stage for the research

• Methods detail how the research was conducted

• Results present the findings of the research

• Conclusion summarizes the key points and implications of the research

Accounts refer to financial records of an individual or organization that show the transactions and balances of assets, liabilities, and equity.

• Accounts are used to keep track of financial transactions and balances.

• They include records of assets, liabilities, and equity.

• Examples of accounts include bank accounts, credit card accounts, and investment accounts.

• Accounts are important for financial planning, budgeting, and tax purposes.

WNS is a global business process management company.

• WNS provides services in industries such as healthcare, banking, insurance, and travel.

• It was founded in 1996 and is headquartered in Mumbai, India.

• WNS has over 40,000 employees and operates in over 16 countries.

• Some of its services include finance and accounting, customer care, and research and analytics.

Credibility of sources in secondary research is crucial for accurate and reliable information.

• Verify the reputation and expertise of the source

• Check for bias or conflicts of interest

• Cross-reference information with multiple sources

• Look for peer-reviewed studies or reputable publications

• Consider the date of the source to ensure relevance and accuracy

Cash flow refers to the movement of money in and out of a business. Methods include direct and indirect, operating, investing, and financing activities.

• Cash flow is crucial for a business to meet its financial obligations and invest in growth.

• Direct method involves tracking actual cash inflows and outflows, while indirect method starts with net income and adjusts for non-cash items.

• Operating activities include cash transactions related to revenue and expenses, investing activ...read more

Accrued expenses and income are expenses and income that have been incurred but not yet paid or received.

• Accrued expenses refer to expenses that have been incurred but not yet paid, such as salaries, interest, or utilities.

• Accrued income refers to income that has been earned but not yet received, such as interest income or rent.

• Accrued expenses and income are recorded in the financial statements to reflect the true financial position of a company.

• Accrued expenses and income a...read more

GL stands for General Ledger. It is a record-keeping system that contains all financial transactions of a company.

• GL is used to track and manage financial transactions such as sales, purchases, and expenses.

• It helps in creating financial statements like balance sheets and income statements.

• GL is an important part of accounting and financial management.

• Examples of GL software include QuickBooks and SAP.

• GL accounts are categorized into assets, liabilities, equity, revenue, and ...read more

Intercompany reconciliation is the process of ensuring that transactions between different entities within the same company are properly recorded and balanced.

• It involves comparing and reconciling transactions between different entities within the same company

• It helps to identify and resolve any discrepancies or errors in the financial records

• Examples include reconciling intercompany accounts payable and receivable, intercompany loans, and intercompany inventory transfers

Regression analysis is a statistical method used to determine the relationship between a dependent variable and one or more independent variables.

• It helps in predicting the value of the dependent variable based on the values of the independent variables.

• It is used in various fields such as finance, economics, social sciences, and engineering.

• Linear regression is the most common type of regression analysis.

• Examples include predicting the price of a house based on its size, loc...read more

Anti money laundering refers to the laws, regulations, and procedures intended to prevent criminals from disguising illegally obtained funds as legitimate income.

• AML is a set of measures designed to prevent money laundering and terrorist financing.

• It involves identifying and verifying the identity of customers, monitoring transactions, and reporting suspicious activity.

• Examples of suspicious activity include large cash deposits, frequent international transfers, and transacti...read more

Month end activity refers to the tasks and processes that are completed at the end of each month to close out financial records.

• Reconciling bank accounts

• Preparing financial statements

• Closing out accounts payable and accounts receivable

• Reviewing and adjusting budgets

• Preparing tax filings

• Performing inventory counts

• Updating financial records and reports

Explanation of sales with discount journal entry

• Sales with discount is a common practice to attract customers

• The journal entry for sales with discount involves debiting the sales account and crediting the discount account

• For example, if a product is sold for $100 with a 10% discount, the journal entry would be: Debit Sales $90, Credit Discount $10

A financial statement that shows a company's assets, liabilities, and equity at a specific point in time.

• It provides a snapshot of a company's financial position.

• Assets are listed on the left side and liabilities and equity on the right side.

• The equation Assets = Liabilities + Equity must always balance.

• Examples of assets include cash, inventory, and property.

• Examples of liabilities include loans, accounts payable, and taxes owed.

• Examples of equity include retained earnings a...read more

Receivables refer to the money owed to a company by its customers for goods or services provided on credit.

• Receivables are recorded as assets on a company's balance sheet.

• They represent the amount of money that a company expects to receive from its customers.

• Receivables can be short-term or long-term depending on the payment terms agreed upon with the customer.

• Examples of receivables include outstanding invoices, loans, and credit card balances.

• Managing receivables is importa...read more

Accrual entries are accounting entries made to record revenue or expenses that have been earned or incurred but not yet received or paid.

• Accrual entries are used to match revenue and expenses to the period in which they were earned or incurred.

• They are made at the end of an accounting period to record revenue or expenses that have been earned or incurred but not yet received or paid.

• Examples of accrual entries include accrued interest, accrued salaries, and accrued taxes.

• Accr...read more

Amortisation is the process of spreading the cost of an intangible asset over its useful life, while depreciation is the process of spreading the cost of a tangible asset over its useful life.

• Amortisation is used for intangible assets like patents, copyrights, and trademarks, while depreciation is used for tangible assets like buildings, machinery, and vehicles.

• Amortisation is typically calculated using the straight-line method, while depreciation can be calculated using vari...read more

Non-PO refers to purchases made without a purchase order.

• Non-PO purchases are made without a formal purchase order.

• These purchases are typically made for urgent or small items.

• Non-PO purchases may require additional approval or documentation.

• Examples of Non-PO purchases include office supplies, travel expenses, and minor repairs.

The company target is to increase market share by 10% within the next fiscal year.

• Increase market share by 10%

• Achieve revenue growth of 15%

• Expand into new markets

• Improve customer retention rates

Procurement is the process of acquiring goods or services from an external source.

• Procurement involves identifying the need for goods or services

• It includes selecting suppliers, negotiating contracts, and placing orders

• Procurement also involves managing supplier relationships and monitoring performance

• Examples of procurement include purchasing office supplies, hiring contractors for construction projects, and outsourcing IT services

Issuer is the entity that issues credit cards or payment cards, while acquirer is the financial institution that processes card transactions.

• Issuer is the entity that issues credit cards to consumers or businesses.

• Acquirer is the financial institution that processes card transactions on behalf of merchants.

• Issuers are responsible for setting credit limits, fees, and interest rates.

• Acquirers facilitate the authorization, clearing, and settlement of card transactions.

• Examples: ...read more

Bank reconciliation is the process of comparing a company's records with those of its bank to ensure they match.

• Bank reconciliation involves comparing the company's internal financial records with the bank statement to identify any discrepancies.

• Common reasons for discrepancies include outstanding checks, deposits in transit, bank fees, and errors in recording transactions.

• The goal of bank reconciliation is to ensure the accuracy of the company's financial records and to dete...read more

RTR cycle involves recording, transferring, and reconciling financial transactions.

• Record: Capture all financial transactions in the accounting system.

• Transfer: Move recorded transactions to appropriate accounts or ledgers.

• Reconcile: Ensure all transactions are accurately reflected and balanced.

• Example: Record sales revenue, transfer to the revenue account, and reconcile with bank statements.

Insurance is a financial product that provides protection against financial losses.

• Insurance is a contract between an individual or organization and an insurance company.

• The individual or organization pays a premium in exchange for coverage against specified risks.

• Types of insurance include health, life, auto, home, and business insurance.

• Insurance helps mitigate financial risks and provides peace of mind.

• Insurance companies use actuarial science to calculate risks and set pr...read more

I am drawn to the fast-paced and dynamic nature of the BPO industry, where I can utilize my skills in problem-solving and client management.

• Opportunity to work with diverse clients and industries

• Fast-paced environment that challenges me to think on my feet

• Utilize my strong communication and problem-solving skills

• Potential for career growth and development

• Example: Working in a BPO firm allowed me to interact with clients from various countries, honing my cultural awareness and...read more

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortization. It is a measure of a company's operating performance.

• EBITDA is calculated by adding back interest, taxes, depreciation, and amortization to net income.

• It is used to analyze and compare profitability between companies and industries.

• EBITDA provides a clearer picture of a company's financial health by excluding non-operating expenses.

• Investors often use EBITDA to assess a company's ability to gen...read more

Buy in refers to the agreement or acceptance of an idea or decision by individuals or groups involved.

• It is the process of getting people to support and commit to a decision or idea.

• It involves convincing people of the benefits and value of the decision or idea.

• Buy in is important for successful implementation of plans and initiatives.

• Examples include getting employees to adopt new policies or convincing stakeholders to invest in a project.

Visa reason codes are specific codes assigned to visa applications to indicate the reason for the application.

• Visa reason codes help immigration authorities understand the purpose of the applicant's visit.

• Common reason codes include tourism (B2), work (H1B), study (F1), and family reunion (IR1).

• Each reason code has specific requirements and documentation needed for approval.

Yes, I am willing to work night shifts.

• I am comfortable working night shifts and have done so in the past.

• I understand the importance of being available for work during non-traditional hours.

• I am willing to adjust my schedule to accommodate night shifts as needed.

The golden rule of accounting states that debit what comes in and credit what goes out.

• Debit what comes in and credit what goes out

• Helps maintain the balance in accounting equations

• Used to ensure accuracy in financial transactions

Handled various activities related to project management, client communication, and team coordination.

• Managed project timelines and deliverables

• Coordinated with cross-functional teams for project execution

• Communicated with clients to understand their requirements and provide updates

• Conducted team meetings to ensure project progress and resolve issues

• Prepared project reports and presentations for senior management

Sanctions are penalties imposed on individuals, organizations, or countries to enforce desired behavior or punish violations.

• Economic sanctions: Restricting trade, investment, or financial transactions with a targeted entity.

• Diplomatic sanctions: Limiting or severing diplomatic relations with a country or organization.

• Military sanctions: Imposing restrictions on military cooperation or arms sales.

• Individual sanctions: Targeting specific individuals with travel bans, asset fre...read more