Finance Accounts Analyst Interview Questions and Answers

Updated 25 Sep 2024

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Q1. What is meaning of accounts payable ,why should you choose accounts payable in your carrier.

Ans.

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

Accounts payable is a liability on the balance sheet and represents the company's short-term obligations.
It includes invoices from suppliers, outstanding bills, and other payables.
Managing accounts payable effectively is crucial for maintaining good relationships with suppliers and ensuring timely payments.
Choosing accounts payable as a career can provide o...read more

Q2. 1.What the 3 way and 2way . 2.what is the non po invoice. 3.How to manage the audit works and mails .

Ans.

1. 3-way matching is a process in accounts payable that involves comparing the purchase order, receiving report, and invoice to ensure accuracy. 2. 2-way matching is a simplified version of 3-way matching that only compares the purchase order and invoice. 3. A non-PO invoice is an invoice received for goods or services without a corresponding purchase order.

3-way matching involves comparing purchase order, receiving report, and invoice.
2-way matching compares purchase order a...read more

Q3. Finalization of Accounts

Ans.

Finalization of accounts refers to the process of completing and closing the financial records of a company for a specific period.

Finalization of accounts involves reviewing and reconciling financial transactions and balances.
It includes preparing financial statements such as the balance sheet, income statement, and cash flow statement.
The process also involves adjusting entries, ensuring compliance with accounting standards, and resolving any discrepancies.
Finalization of ac...read more

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Q4. What are steps of accounts payable

Ans.

Accounts payable steps include receiving invoices, verifying accuracy, obtaining approvals, making payments, and maintaining records.

Receive invoices from vendors
Verify accuracy of invoices
Obtain necessary approvals for payment
Make payments to vendors
Maintain accurate records of all transactions

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Q5. What is capital market and its types

Ans.

Capital market is a financial market where individuals and institutions trade financial securities.

Capital market is where long-term securities like stocks and bonds are bought and sold.
It helps companies raise capital for expansion and growth.
Types of capital markets include primary market, secondary market, and money market.
Primary market is where new securities are issued for the first time, while secondary market is where existing securities are traded.
Money market deals ...read more

Q6. What is AP and AR cycle

Ans.

AP and AR cycle refers to the process of accounts payable and accounts receivable in a company.

AP cycle involves receiving and processing invoices from vendors, making payments, and maintaining accurate records.
AR cycle involves sending invoices to customers, receiving payments, and reconciling accounts.
Efficient AP and AR cycles are crucial for maintaining healthy cash flow and relationships with vendors and customers.

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